Rising Investments In Residential Buildings Fuel Growth In The Steel Structure Market Driver: Leading Transformation in the Steel Structure Market in 2025

How Are the key drivers contributing to the expansion of the steel structure market?
The growth of the steel structure market is predicted to be fueled by a surge in investments in residential buildings. Properties such as houses, apartments, and condos which are primarily built for human occupancy are considered under residential buildings. The expansion in residential building construction investments can be attributed to a variety of factors including population growth, urbanization, and low rates of interest, which in turn raise the demand for housing. One of the prime benefits of using steel structures in construction is that they offer superior strength, longevity, and flexibility in design, which allows for innovative architectural designs and better protection against natural calamities. For instance, the Australian Bureau of Statistics, a government entity based in Australia, reported in March 2024 that there were 30,992 newly built private homes. This figure indicates a 3.7% increase from December 2023 and a notable 14.6% surge from March 2023. Moreover, the completions of other new private residential buildings escalated to 14,844 dwellings, indicating a 5.6% growth compared to December 2023. As such, the steel structure market is being buoyed by the escalating investments in residential buildings.

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What growth opportunities are expected to drive the steel structure market's CAGR through 2034?
In recent times, we've seen significant growth in the steel structure market. The market is projected to expand from $118.15 billion in 2024 to $124.72 billion in 2025, indicating a compound annual growth rate (CAGR) of 5.6%. The historic growth can be largely credited to the heightened demand for sturdy construction materials, progress in infrastructure development, greater investments in industrial and commercial construction, an expanding real estate sector, alongside a rising inclination towards prefabricated construction.

The steel structure market is predicted to witness a robust surge in the upcoming years, with an expected growth to reach a value of $153.25 billion in 2029, reflecting a compound annual growth rate (CAGR) of 5.3%. This anticipated growth is due to various factors such as the increasing demand for high-strength, lightweight materials, the escalating number of commercial construction projects, growing usage of steel in residential buildings, the need for structures that can withstand earthquakes, and the growing preference for pre-engineered steel structures. Key trends projected in the forecast period consist of the uptake of refined steel alloys, the creation of modular steel structures, enhancement of steel recycling methodologies, the application of Building Information Modelling (BIM), along with high strength steel advancements.

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What are the emerging trends shaping the future of the steel structure market?
Leading enterprises in the steel structure market are pioneering groundbreaking products infused with state-of-the-art technologies like the steel building solutions technology. The objective is to boost building efficiency, slash construction timelines, and augment overall structural stability. These technologies upgrade steel structures with innovative design, meticulous engineering, and efficient construction techniques that ramp up structural sturdiness, diminish construction periods, and streamline material utilization. For instance, APL Apollo, a structural steel tubes and pipes manufacturer based in India, unveiled the next-generation steel building solutions for structural steel tubes in August 2022. The newly launched line includes high-strength welded steel tubes (HSS) designed for use in towers, bridges, cranes, highway guardrails, and sign supports. These tubes display unparalleled sturdiness and aesthetic appeal, featuring modifications like pre-fabrication and accurate engineering that simplify construction, curtail project schedules, and reduce expenses.

Which growth-oriented segments of the steel structure market are leading the industry's development?
The steel structuremarket covered in this report is segmented -

1) By Type: Carbon Steel Structure, Alloy Steel Structure, Special Steel Structure, Other Types
2) By Product: Angles, Channels, Rounds
3) By Application: Industrial, Commercial, Institutional, Residential

Subsegments:
1) By Carbon Steel Structure: Low Carbon Steel Structures, Medium Carbon Steel Structures, High Carbon Steel Structures, Structural Steel Beams and Columns
2) By Alloy Steel Structure: Low Alloy Steel Structures, High Alloy Steel Structures, Alloy Steel Beams and Columns, Pre-Engineered Alloy Steel Structures
3) By Special Steel Structure: Tool Steel Structures, Spring Steel Structures, Stainless Steel Structures, Corrosion-Resistant Steel Structures
4) By Other Types: Composite Steel Structures, Precast Steel Structures, Fabricated Steel Structures, Modular Steel Structures

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Which region dominates the steel structure market?
Asia-Pacific was the largest region in the steel structure market in 2024. The regions covered in the steel structure market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What companies are at the forefront of innovation in the steel structure market?
Major companies operating in the steel structure market are ArcelorMittal S.A., Posco Holdings Inc., ThyssenKrupp AG, Nucor Corporation, JFE Holdings Inc., Maanshan Iron and Steel Company Limited, Tata Steel Limited, Steel Dynamics Inc., United States Steel Corporation, Hyundai Steel Co. Ltd., JSW Steel Limited, Voestalpine AG, Gerdau S.A., Ansteel Group Corporation Limited, China Steel Corporation, EVRAZ plc, Salzgitter AG, Steel Authority of India Limited, BlueScope Steel Limited, SSAB AB, Outokumpu Oyj, Commercial Metals Company, Severstal PAO, Liberty Steel Group Holdings UK Ltd., Nippon Steel Corporation

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What Is Covered In The Steel Structure Global Market Report?

•Market Size Forecast: Examine the steel structure market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the steel structure market for a structured understanding.
•Key Players Overview: Analyze major players in the steel structure market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the steel structure market.
•Segment Contributions: Evaluate how different segments drive overall growth in the steel structure market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the steel structure market.
•Industry Challenges: Identify potential risks and obstacles affecting the steel structure market.
•Competitive Landscape: Review strategic developments in the steel structure market, including expansions, agreements, and new product launches.

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