Structural Steel Market is expected to grow at a CAGR of 5.7% through 2030F
The global Structural Steel Market is
expected to be led by North America, driven by Sustainability and Green
Construction and Real Estate Growth during the forecast period 2026-2030F
According to TechSci Research
report, “Structural Steel
Market - Global Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2030F, The Global Structural Steel Market was valued at USD
126.2 billion in 2024 and is expected to reach USD 177.6 billion by 2030 with a
CAGR of 5.7% through 2030. As urbanization continues to accelerate, governments and private entities are
focusing on enhancing infrastructure to accommodate growing populations,
leading to higher demand for robust and durable building materials like
structural steel. These modernization efforts include not only residential and
commercial buildings but also large-scale public infrastructure such as
bridges, roads, and transportation systems.
Additionally,
the demand for steel in the energy sector, particularly for wind, solar, and
hydroelectric power plants, is on the rise. Structural steel plays a pivotal
role in the construction of renewable energy plants, especially wind farms and
solar panel installations, due to its strength and versatility. With the global
shift towards cleaner energy sources and the push for sustainability,
structural steel is integral to the infrastructure needed to support these
renewable energy projects. Another
driver is the rise of prefabricated and modular construction, which uses
pre-engineered steel components that are assembled on-site. This construction
method is gaining popularity due to its efficiency, cost-effectiveness, and
ability to reduce construction time. As this trend continues to grow, the
demand for structural steel in prefabricated systems is expected to increase,
further fueling the market. These factors collectively drive the expansion of
the global structural steel market.
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Based on Product, Channels segment
dominated the Structural Steel Market in 2024 and maintain its leadership
throughout the forecast period, largely due to its broad applications across
various industries and construction projects. Channels, typically in the form
of U-shaped steel beams, are essential components used in the construction of
buildings, bridges, and industrial structures. Their versatility, strength, and
ease of installation have made them a preferred choice for engineers and builders
worldwide. As the demand for infrastructure development continues to rise, the
need for channel steel, due to its structural integrity and cost-effectiveness,
has grown significantly, cementing its dominance in the market.
One of the primary reasons for the
Channels segment's market dominance is its integral role in both commercial and
residential construction. Steel channels are used in a wide variety of
structural applications, including beams, frames, and supports, and are
essential in providing stability and load-bearing capacity. These applications
span across high-rise buildings, industrial facilities, and transportation
infrastructure, all of which require materials that can withstand heavy loads,
extreme weather conditions, and long-term wear and tear. As urbanization
accelerates, particularly in developing regions, the demand for durable and
efficient materials like steel channels has surged.
Another factor contributing to the
dominance of the Channels segment is the increasing adoption of pre-engineered
and prefabricated building systems, where channels play a critical role.
Prefabricated steel structures, often used in commercial and industrial
buildings, rely heavily on channel steel due to its ease of handling,
cost-effectiveness, and compatibility with mass production techniques.
Moreover, channels are integral to modular construction, which is gaining
popularity as a faster and more sustainable construction method.
The growing focus on sustainability also
boosts the demand for channel steel. As steel channels are often made from
recycled steel, they align with the industry’s push toward more sustainable
building materials. The increasing emphasis on green building practices and the
use of recycled materials has further solidified the position of the Channels
segment in the structural steel market.
Lastly, advancements in manufacturing
technologies, such as automation and digital fabrication, have improved the
precision and quality of channel steel products, making them even more
attractive for large-scale projects. These innovations have contributed to the
increased reliability and performance of channels, further driving their demand
across global markets. Thus, the Channels segment remains the dominant player
in the global structural steel market, benefiting from its multifaceted
applications, cost-effectiveness, and role in sustainable construction.
Asia Pacific is emerging as the
fastest-growing region for the Structural Steel Market, driven by factors such
as rapid urbanization, infrastructure development, and growing
industrialization. Countries like China, India, Japan, and Southeast Asian
nations are witnessing significant construction booms, with large-scale
residential, commercial, and industrial projects demanding high-quality
structural steel. This rapid expansion of urban infrastructure, including
highways, bridges, and skyscrapers, is creating a substantial need for steel
products, particularly structural steel, which offers strength, durability, and
flexibility.
China, as the world’s largest producer
and consumer of steel, plays a key role in driving market growth in the region.
Additionally, India’s growing economy and rising population are propelling
demand for housing, commercial buildings, and transportation infrastructure,
contributing to the surge in structural steel use. Southeast Asia, with its
increasing focus on modernizing infrastructure, is also experiencing a rise in
steel consumption.
Government initiatives aimed at boosting
construction and infrastructure projects, such as smart cities and
transportation networks, further fuel the demand for structural steel in Asia
Pacific. The region is also embracing advanced steel manufacturing technologies,
making production more efficient and cost-effective. As industrialization
accelerates and infrastructure investment continues, Asia Pacific is poised to
maintain its position as the fastest-growing market for structural steel.
Key market players in the Structural
Steel Market are: -
- Arcelor Mittal S.A.
- Baogang Group
- Evraz plc
- Gerdau S.A
- Nippon Steel Corporation
- JSW Steel Limited
- Tata Steel Limited
- SAIL
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“The global structural steel market
presents numerous opportunities driven by evolving construction trends,
technological advancements, and the growing focus on sustainability. One
significant opportunity lies in the increasing demand for sustainable building
materials. As governments and industries emphasize green construction
practices, structural steel offers an environmentally friendly solution,
especially when sourced from recycled materials. Steel’s recyclability and
durability make it an attractive choice for eco-conscious construction
projects, providing manufacturers with a chance to tap into the growing market
for green buildings. Technological advancements in steel manufacturing, such as
the adoption of automation, digital fabrication, and the use of advanced
coatings, are also creating opportunities for market growth.” said Mr. Karan Chechi, Research Director of TechSci
Research, a research-based global management consulting firm.
“Structural Steel Market
– Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By
Product (Angles, Channels, Rounds), By Application (Non-Residential,
Residential), By Region, By Competition, 2020-2030F” has evaluated the future
growth potential of Structural Steel Market and provides statistics
& information on market size, structure, and future market growth. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Structural Steel Market.
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