The global structural steel market size is expected to reach USD 119.10
billion, according to a new study by Grand View Research, Inc. Shift in
preference towards ease of installation and faster completion of projects is
expected to drive structural steel demand for residential and non-residential
applications. Design flexibility and high ROI on constructing pre-engineered
buildings (PEB) are other major factors expected to significantly influence the
demand. Growing manufacturing facilities such as chemicals, automobiles and
footwear in Asia Pacific and Middle East is also expected to develop the global
market. Volatile raw material prices such as coking coal and iron ore are
expected to challenge industry growth.
Non-residential applications accounted for over
50% of total market volume in 2014. Increasing construction spending in
building malls and educational institutes in Tier-2 and Tier-3 cities of Asia
Pacific and Latin America is expected to drive demand for non-residential
applications. Residential application is expected to grow at moderate growth of
4.0% from 2015 to 2022.
View
summary of this report @ http://www.grandviewresearch.com/industry-analysis/structural-steel-market
Further
key findings from the study suggest:
- Global structural steel market demand was 120.10 million tons in 2014 and is expected to reach 164.66 million tons by 2022, growing at a CAGR of 4.1% from 2015 to 2022.
- North Asia structural steel market emerged as the leading regional industry and accounted for over 60% of global demand in 2014. Increasing construction spending in China owing to rapid industrialization is expected to drive the regional market. South Asia powered mainly by India is expected to witness the most significant growth in its market size over the forecast period. The region is expected to grow at a CAGR of 4.5% from 2015 to 2022.
- Affordable housing scheme by governments across Brazil and Colombia is expected to drive the Central & South American structural steel market over the next seven years.
- The global structural steel industry is highly fragmented with a mix of both large multinational corporations and domestic manufacturers. Key players operating in the global market include Baosteel Group, Arcelor Mittal, POSCO, Nippon Steel & Sumitomo Metal Corporation, Hyundai Steel and Tata Steel Group. Other players operating in the market include Baoganag Group, Valin Group, JSW Steel Ltd., Benxi Steel, Bohai Steel Group Co., Unites States Steel Corporation, Hebei Steel Group, ThyssenKrupp AG, Wuhan Iron & Steel (Group) Corp., Evraz Group, Ansteel Group and Anyang Iron & Steel Co. Ltd.
Browse All Reports of
this category @ http://www.grandviewresearch.com/industry/hvac-and-construction-technologies
Grand
View Research has segmented the structural steel market on the basis of
application and region:
Global
Structural Steel Application Outlook (Volume, Kilo Tons; Revenue, USD Million,
2012 - 2022)
- Non-residential
- Industrial
- Commercial
- Offices
- Institutional
- Residential
Global
Structural Steel Regional Outlook (Volume Kilo Tons; Revenue, USD Million, 2012
- 2022)
- North America
- U.S.
- Canada
- Mexico
- Western Europe
- UK
- Germany
- France
- Spain
- Eastern Europe (CIS Countries)
- Russia
- Turkey
- Poland
- Rest of Eastern Europe
- North Asia
- China
- Taiwan
- Japan
- Hong Kong
- South East Asia
- Thailand
- Malaysia
- Singapore
- Indonesia
- Vietnam
- Philippines
- South Asia
- India
- Oceania
- Australia
- New Zealand
- Poland
- Middle East & Africa
- Saudi Arabia
- UAE
- Central & South America
- Brazil
- Chile
- Colombia
About Grand View
Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
Contact:
Sherry
James
Corporate
Sales Specialist, U.S.A.
Grand
View Research, Inc.
United
States
Phone: 1-415-349-0058
Toll
Free: 1-888-202-9519
Email: sales@grandviewresearch.com
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