Structural Steel Market Size to Hit US$ 226.91 Billion by 2030
According to Precedence Research, the structural steel market size is expected to hit around US$ 226.91 billion by 2030 from valued at US$ 123.5 billion in 2020, growing at a CAGR of 6.3% from 2021 to 2030.
Tokyo, Jan. 14, 2022 (GLOBE NEWSWIRE) — The global structural steel market was valued at US$ 130.63 billion in 2021. The structural steel is a type of steel that is welded in various forms and grades for usage in the construction sector. It resembles an extended beam with various cross-sectional forms. Most of the countries have a standard that governs its shapes, sizes, chemical composition, and qualities.
Get the Report Sample Copy for more understanding@ https://www.precedenceresearch.com/sample/1437
The high strength, ease of manufacturing, the disaster resistance, ductility, and quick erection speed are some of the few of the advantages of the structural steel. The airports, manufacturing plants, the healthcare institutions, and retail outlets are few of the examples of non-residential structures where the structural steel is used on the large scale.
The global structural steel market is expected to increase steadily in the next upcoming years, due to rising disposable income and technological advancements in building and construction projects. The structural steel market is predicted to increase significantly during the forecast period, due to rising infrastructure demand in emerging markets such as India and China.
One of the construction industries trends that is predicted to increase demand for structural steel building designs throughout the forecast period is a greater focus on innovation in green construction materials. These materials are recyclable, eco-friendly, and help to cut down on greenhouse gas emissions.
Report Scope of the Structural steel Market
|
Report Highlights |
Details |
|
|
Market Size in 2021 |
US$ 130.63 Billion |
|
|
CAGR from 2021 to 2030 |
6.3 |
% |
|
Largest Revenue Holder |
Asia Pacific |
|
|
Base Year |
2021 |
|
|
Forecast Period |
2021 to 2030 |
|
|
Companies Covered |
Baogang Group, Tata Steel, Gerdau S.A., Nippon Steel Corporation, ArcelorMittal, Evraz PLC, JSW Steel, SAIL, POSCO, Anshan Iron & Steel Group Corporation |
|
Regional Snapshot
Asia-Pacific is the largest segment for structural steel market in terms of region. The Asia-Pacific structural steel market growth is expected to be aided by increased investments in the housing and commercial sectors of rising nations such as India and China.
North America region is the fastest growing region in the structural steel market. The U.S. is the largest market in the North America structural steel market. The rising investments on construction and transportation projects are propelling the growth of the structural steel market in North America region.
Get more report information@ https://www.precedenceresearch.com/structural-steel-market
Market Dynamics
Drivers
Rapid urbanization and industrialization
The urbanization and industrialization in developing regions such as Asia-Pacific and South Africa is creating new…
Read More: Structural Steel Market Size to Hit US$ 226.91 Billion by 2030