Key Influencer in the Structural Steel Market 2025: Rising Construction Demand Boosts The Structural Steel Market Driver

What Is the Forecasted Market Size and Growth Rate for the Structural Steel Market?
In recent years, there has been considerable growth in the structural steel market size. The market is predicted to expand from $109.06 billion in 2024 to $115.82 billion in 2025, with a compound annual growth rate (CAGR) of 6.2%. Several factors have contributed to the growth experienced during the historical period, including an increased demand for energy conservation, the necessity for reducing waste in construction, stringent regulations regarding carbon emissions, the pressing need to combat quick deforestation, and a rising population in developing economies.

In the next several years, the structural steel market size is anticipated to witness robust growth, reaching a worth of $145.74 billion in 2029 at a compound annual growth rate (CAGR) of 5.9%. The growth during this projection period is due to factors like the escalated demand for stainless steel, the preference for eco-friendly construction, the expansion of manufacturing sectors, an intensified emphasis on recycling, and the rise in sustainable steelmaking practices demand. The forecast period's significant trends encompass digitalization and industry 4.0, building information modeling (BIM), superior high-strength steel (AHSS), environment-friendly steel production, and innovation and robotics.

What Factors Are Propelling the Expansion of the Structural Steel Market?
The structural steel market's expansion is likely to be fueled by the rising construction of residential and commercial structures. Residential and commercial infrastructures include buildings and facilities such as housing and work areas-homes, apartments, offices, shopping centers, and other critical buildings for human habitation and business. This escalation in residential and commercial infrastructures is facilitated by smart city ventures, strategic infrastructure plans, affordable housing initiatives, and government-led sustainability schemes. The use of structural steel is widespread in these infrastructures because of its durability and flexibility, as it provides vital reinforcement and stability for building frameworks and comprehensive construction undertakings. For example, data from the US Census Bureau, a governmental agency in the US, suggested that the construction project's value in the residential sector went up from $875.5 billion in June 2023 to $939.8 billion in June 2024, a rise of 7.3%. Concurrently, the value of non-residential construction projects expanded from $1.15 trillion in June 2023 to $1.21 trillion in June 2024, displaying a growth of 5.3%. Therefore, the increase in residential and commercial construction is propelling the expansion of the structural steel market.

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Which Businesses Are at the Forefront of Structural Steel Market Development?
Major companies operating in the structural steel market are Severstal, ArcelorMittal S.A., POSCO, China Baowu Steel Group Corp Ltd, Nippon Steel Corporation, Thyssenkrupp AG, Nucor Corporation, JFE Steel Corporation, Tata Steel Limited, United States Steel Corporation, JSW Steel, HBIS GROUP, Hyundai Steel Co Ltd, Ansteel Group, Voestalpine AG, Jiangsu Shagang Group Co Ltd, Gerdau S.A, Evraz Plc, Steel Authority of India Limited (SAIL), SSAB AB, Outokumpu Oyj, Anyang Iron & Steel Group Co. Ltd, British Steel Limited

What Are the Latest Innovations in the Structural Steel Market?
Leading entities in the structural steel market are concentrating on evolving steel building solutions to advance improved and quicker construction processes. Structural steel offers sturdy, flexible, and effective methods for developing resilient and adjustable infrastructures using steel building solutions. For example, in July 2022, APL Apollo, a company based in India that specializes in structural steel tubing, introduced a cutting-edge technology for steel building solutions. This technology revolutionizes the construction industry with its heavy-duty structural tubular goods, delivering faster project completions, top-tier quality, strength, economic efficiency, and environmental sustainability. These pre-made, precision-engineered tubular sections make fabrication easier, saving significant time and labor in constructing diverse structures like hospitals, factories, and commercial offices.

How Is the Structural Steel Market Segmented?
The structural steelmarket covered in this report is segmented -

1) By Type: Hot-Rolled Steel, Cold-Rolled Steel
2) By Product: Heavy Sectional Steel, Light Sectional Steel, Rebar
3) By Application: Residential, Non-Residential

Subsegments:
1) By Hot-Rolled Steel: Hot-Rolled Steel Beams, Hot-Rolled Steel Plates, Hot-Rolled Steel Channels, Hot-Rolled Steel Sheets, Hot-Rolled Steel Angles
2) By Cold-Rolled Steel: Cold-Rolled Steel Sheets, Cold-Rolled Steel Strips, Cold-Rolled Steel Bars, Cold-Rolled Steel Coils, Cold-Rolled Steel Tubes

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Where Is the Structural Steel Market Growth Most Prominent?
Asia-Pacific was the largest region in the structural steel market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the structural steel market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Is Covered In The Structural Steel Global Market Report?

- Market Size Analysis: Analyze the Structural Steel Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Structural Steel Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Structural Steel Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Structural Steel Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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