Structural Steel Market Size, Share & Trends Report

Structural Steel Market Size, Share & Trends Analysis Report By Application (Non-residential (Industrial, Commercial, Offices, Institutional), Residential), By Region, And Segment Forecasts, 2019 - 2025

  • Published Date: Mar, 2019
  • Base Year for Estimate: 2018
  • Report ID: 978-1-68038-503-8
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2017
  • Number of Pages: 147

Industry Insights

The global structural steel market size was valued at USD 96.1 billion in 2018 and is expected to witness a CAGR of 5.6% from 2019 to 2025. Rapidly increasing construction activities coupled with need for housing to cater to the rising population in emerging countries from Asian and Middle East is anticipated to remain a key growth driver.

The properties of structural steel, such as excellent ductility, high strength, speed of erection, and ease of fabrication makes it suitable for a wide range of construction applications. Other factors such as energy efficiency and flexible design make it suitable for residential and non-residential projects.

U.S. structural steel market

Increasing urbanization coupled with global events in the Western Asia such as FIFA World Cup 2022 is expected to fuel construction spending and create high demand for structural steel. Growing real estate and infrastructure development in UAE is responsible for the increase in construction spending in the region, lead to a rise in demand.

Industrial buildings have become a crucial aspect of architectural highlights in urban development. Structural steel finds applications in large facades, walls and glass surfaces, stairwells, curvilinear roofs, and various other engineering materials. Industrial production and construction technology coupled with socioeconomic conditions are major factors in designing industrial buildings.

North Asia is one of the largest markets owing to government initiatives to develop infrastructure to stimulate sustainable economic growth. Non-residential segment in countries including China and Hong Kong have witnessed a strong growth in recent past owing to adoption of advanced construction techniques such as reclamation and design-and-build methods.

Application Insights

Increasing residential and non-residential construction development in U.S. and Europe is anticipated to fuel the demand for structural steel. Multifamily and single family houses in upscale neighborhood and metropolitan cities are expected to grow rapidly owing to high income levels in the region.

Companies are also targeting to set up shopping malls in Tier-II and Tier III parts of emerging economies of Asia Pacific owing to saturation of mall development in the regional urban areas. This factor is expected to drive construction spending to develop commercial spaces and in turn is anticipated to propel consumption of structural steel in residential sector.

Global structural steel market

Energy efficiency investments in Europe is expected to create ample opportunities in residential segment in the forthcoming years. For instance, in Netherlands financing is done through National Energy Saving Fund with a budget of EUR 600 million. Other schemes are also introduced to renovate more than 1, 00, 000 of dwellings through energy rehabilitation program. Such factors are projected to contribute to the growth.

Development of smart city projects is another key focus area in the structural steel market. In India, more than 5,000 smart city projects are in completed or under completion process. Since the start, more than USD 25 billion are invested in these projects. Owing to its physical properties, steel is projected to be key material in fabrication of infrastructure in these projects. Government in various countries are adopting sustainable and eco-friendly models to solve problems of drainage, accommodation, commuting, and traffic.

Regional Insights

Asia Pacific is anticipated to remain the largest consumer of structural steel in the forthcoming years. It accounted for 66.4% of the market share in terms of revenue in 2018 and is projected to expand at CAGR of 6.0% during the forecast period. Government initiatives to improve the housing situation in various countries is projected to propel the regional growth. For instance, as per the Pradhan Mantri Awas Yojana (PMAY) of Government of India, more than 14 million houses were sanctioned in 2017-18.

Office construction spending in India is expected to witness moderate growth owing to increasing employment rates and expansion of existing office spaces. However, residential development in the country has declined in recent years owing to announcement of the Real Estate Regulatory Authority (RERA).

The Department of Energy has launched the Advanced Manufacturing Office (AMO) that works with a broad spectrum of public-private partners to develop and commercialize technologies and practices that will help U.S. based manufacturers to succeed in the global market. These factors are likely to boost demand for structural steel in residential as well as non-residential sectors in North America.

Stabilization in a number of insolvencies in Eastern and Central Europe in 2014 has contributed to a positive outlook for the construction sector. Trends of internationalization, involvement of private equity, and supply-chain pressure in the Eastern European construction market is expected to aid demand for advanced building materials such as structural steel.

Structural Steel Market Share Insights

Some of the key manufacturers include Anshan Iron & Steel Group Corporation, Arcelor Mittal S.A., Anyang Iron & Steel Group Co. Ltd, Bohai Steel Group Co. Ltd, Baogang Group, Benxi Beiying Iron & Steel Group Co. Ltd., Baosteel Group Corporation, Hebei Steel Group, Gerdau S.A, JSW Steel Limited, Hyundai Steel Co., Ltd. (HSC), Nippon Steel & Sumitomo Metal Corporation (NSSMC), POSCO, Hunan Valin Iron & Steel Group Co., Ltd and Tata Steel Limited.

The market is characterized by the presence of a large number of small and medium vendors. The companies focus on improving their product portfolio to cater to the rising demand from construction sector. The companies are engaging in collaborations to expand their production capacities for steel segment. Some of the vendors also engage in development of new building materials.

Report Scope



Base year for estimation


Actual estimates/Historic data

2014 - 2017

Forecast period

2019 - 2025

Market representation

Volume in Kilotons, Revenue in USD Million & CAGR from 2018 to 2025

Regional scope

North America, Europe, Asia Pacific, Central & South America, Middle East & Africa

Country scope

U.S., Canada, Mexico, Germany, U.K., France, Spain, Russia, Turkey, Poland, Norway, China, Japan, Taiwan, India, Hong Kong, Thailand, Malaysia, Vietnam South Korea, Australia, Brazil, UAE, Saudi Arabia, Iran, South Africa, Chile, Columbia

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

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Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global structural steel market report based on application and region:

  • Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

    • Residential

    • Non-residential

      • Industrial

      • Commercial

      • Offices

      • Institutional

  • Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • U.K.

      • France

      • Spain

      • Russia

      • Turkey

      • Poland

    • Asia Pacific

      • China

      • Taiwan

      • Japan

      • Hong Kong

      • Thailand

      • Malaysia

      • Singapore

      • Vietnam

      • Philippines

      • India

      • Australia

      • New Zealand

      • Indonesia

    • Central and South America

      • Brazil

      • Chile

      • Columbia

    • MEA

      • UAE

      • Saudi Arabia

      • Iran

      • South Africa

Key questions answered by the report
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