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The Role Of The Booming Construction Industry In Driving Structural Steel Fabrication Market Growth: Core Growth Enabler in the Structural Steel Fabrication Market, 2025
Structural Steel Fabrication Market
Structural Steel Fabrication Market Size Growth Forecast: What to Expect by 2025?
In recent times, the structural steel fabrication market has demonstrated significant expansion. It is projected to surge from $166.33 billion in 2024 to $181.48 billion in 2025, with a compound annual growth rate (CAGR) of 9.1%. Factors contributing to this growth during the historic period include a construction boom, increased industrialization, urbanization patterns, investment in infrastructure by the government, and cost-effectiveness.
How Will the Structural Steel Fabrication Market Size Evolve and Grow by 2029?
The market for structural steel fabrication is predicted to witness a significant surge in its size in the coming years, expanding to $262.7 billion by 2029 with a CAGR of 9.7%. This growth during the projected period is anticipated due to factors such as the refurbishment of infrastructure, increase in population, adoption of sustainable construction methods, expansion of the energy sector, and technological advancements in design. Key trends of the projected period include an enhanced focus on safety and quality standards, the emergence of 5G technology facilitating communication and collaboration, the utilisation of augmented reality (AR) and virtual reality (VR), bespoke and personalized fabrication, and partnerships fostering research and development in fabrication techniques.
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What Drivers Are Propelling the Growth of Structural Steel Fabrication Market Forward?
The advancement in the construction sector is predicted to boost the structural steel fabrication market's development. The sector is expanding due to continual urbanization, imminent infrastructure projects, and an increasing population base. For a wide range of products, structural steel is used in the construction industry because of its robustness, durability, tensile strength, and affordability. It's the perfect choice for constructing and fabricating lofty buildings, dwellings, bridges, and other infrastructures. For instance, the UK-based Office for National Statistics revealed in February 2024 that there was a 2.0% annual increase in overall construction output in 2023 compared to 2022, marking the third consecutive year of growth. Hence, the burgeoning construction sector will stimulate the growth of the structural steel fabrication market.
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Which Emerging Trends Are Transforming the Structural Steel Fabrication Market in 2025?
Steel fabricators' use of CNC plasma cutting machines in their production facilities for accurate steel cutting is an emerging trend in the structural steel fabrication industry. A CNC plasma device utilizes a plasma cutter to slice metals of varying thickness along a multi-axis grid, providing an edge over manually operated plasma cutters as the cutting is computer programmed and managed not manual. For instance, Hypertherm Associates, a US-based industrial manufacturer, in May 2024, launched the Powermax45 SYNC, a product designed to offer efficient, versatile cutting solutions for metalworkers. It accommodates different applications such as gouging, cutting, and marking, making it suitable for various industries. This technology integrates a patented single-item cartridge extending the consumable lifespan up to five times longer compared to rival products, thus significantly lowering operational costs. Thanks to advanced torch communication and an easy setup for machine use, the Powermax45 SYNC ensures high-quality cuts while reducing potential operator errors.
What Are the Key Segments in the Structural Steel Fabrication Market?
The structural steel fabrication market covered in this report is segmented -
1) By Service: Metal Welding, Machining, Metal Forming, Metal Cutting, Metal Shearing, Metal Folding, Metal Rolling, Metal Punching, Metal Stamping
2) By Product: Carbon Steel, Alloy Steel, Stainless Steel, Tool Steel
3) By End-Users: Aerospace, Automotive, Construction, Defense And Aerospace, Electronics, Energy And Power, Manufacturing, Mining, Other End-Users
Subsegments:
1) By Metal Welding: MIG Welding, TIG Welding, Stick Welding, Spot Welding
2) By Machining: CNC Machining, Manual Machining, Grinding
3) By Metal Forming: Bending, Stretch Forming, Hydroforming
4) By Metal Cutting: Laser Cutting, Plasma Cutting, Waterjet Cutting
5) By Metal Shearing: Guillotine Shearing, Power Shearing
6) By Metal Folding: Brake Press Folding, Manual Folding
7) By Metal Rolling: Plate Rolling, Section Rolling
8) By Metal Punching: Punch Press, CNC Punching
9) By Metal Stamping: Progressive Stamping, Deep Drawing Stamping
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Who Are the Key Players Shaping the Structural Steel Fabrication Market's Competitive Landscape?
Major companies operating in the structural steel fabrication market include ArcelorMittal SA, POSCO, Nippon Steel & Sumitomo Metal Corporation, Tsingshan Holding Group, Tata Steel Limited, JSW Steel Limited, Gerdau S.A., Sujana Group, Mayville Engineering Company Inc., BTD Manufacturing Inc., O'Neal Manufacturing Services Inc., Defiance Metal Products LLC, Ironform Inc., Richard L. Sensenig Company, Lenex Steel LLC, EVS Metal Inc., Watson Engineering Company Inc., LancerFab Tech Pvt Ltd., Zamil Steel Buildings India Private Limited, Apex Buildsys Limited, STI Group, Structural Steelworks Inc., Structural Fabrications Ltd., Steel LLC
What Geographic Markets Are Powering Growth in the Structural Steel Fabrication Market?
Asia-Pacific was the largest region in the structural steel fabrication market share in 2024. The regions covered in the structural steel fabrication market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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