Advancements In Next-Generation Steel Buildings For Enhancing Performance And Sustainability Trend: A Crucial Influence on the Structural Steel Market's Transformation in 2025

How Are the key drivers contributing to the expansion of the structural steel market?
The escalation in the construction of both residential and commercial structures is anticipated to stimulate the expansion of the structural steel market. Residential and commercial structures encompass the tangible buildings and facilities critical for housing and commercial operations, including dwellings, apartments, office spaces, retail outlets, and other essential buildings. This enhancement in residential and commercial structures is powered by initiatives for smart cities, strategic infrastructural schemes, affordable housing programs, and government-led efforts for sustainability. Structural steel, known for its durability and flexibility, is utilized in these structures, offering vital support and stability to the framework and large-scale construction projects. For example, in August 2024, a report from the US Census Bureau, a government organization based in the US, indicated that construction operations for residential projects in the US escalated from $875.5 billion in June 2023 to $939.8 billion in June 2024, showing a 7.3% increment. Concurrently, construction operations for non-residential projects amplified from $1.15 trillion in June 2023 to $1.21 trillion in June 2024, demonstrating a 5.3% growth. Hence, the escalating construction of residential and commercial properties is fuelling the expansion of the structural steel market.

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What growth opportunities are expected to drive the structural steel market's CAGR through 2034?
In recent times, the structural steel market has seen significant expansion. The market value is expected to ascend from $109.06 billion in 2024 to $115.82 billion in 2025, maintaining a compound annual growth rate (CAGR) of 6.2%. The historical growth trajectory can be explained by several factors, including increasing energy conservation demands, the requirement for waste minimization in construction processes, stringent carbon emission regulations, the dire need to tackle rapid deforestation issues, and population growth in burgeoning economies.

The market size of structural steel is predicted to experience a significant surge in the upcoming years, escalating to a worth of $145.74 billion by 2029, with a compound annual growth rate (CAGR) of 5.9%. The increase in the projected period could be credited to the escalating demand for stainless steel, the preference for green building structures, the upsurge of manufacturing sectors, the heightened emphasis on recycling, and the growing necessity for sustainable steel manufacturing methods. Prominent trends identified for the forecast period encompass digitalization and industry 4.0, Building Information Modelling (BIM), Advanced High-Strength Steel (AHSS), eco-friendly steel production, along with automation and robotics.

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What are the emerging trends shaping the future of the structural steel market?
Major players in the structural steel industry are creating steel building solutions with the intention of enhancing and accelerating construction procedures. Structural steel's steel building solutions allow for reliable, flexible, and efficient construction techniques, contributing to the creation of long-lasting and adjustable infrastructure. For example, APL Apollo, a structural steel tubing firm based in India, introduced groundbreaking steel building solutions technology in July 2022. This groundbreaking technology transforms the construction industry by providing heavy-duty tubular products, leading to faster project completion, superior quality, increased strength, cost savings, and environmental sustainability. The meticulously engineered tubular sections that come ready-to-install save substantial time and effort in constructing various establishments such as hospitals, factories, and commercial offices.

Which growth-oriented segments of the structural steel market are leading the industry's development?
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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Which geographical regions are pioneering growth in the structural steel market?
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 companies are at the forefront of innovation in the structural steel market?
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

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What Is Covered In The Structural Steel Global Market Report?

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

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