Global Structural Steel Fabrication Market Set for Steady Growth at 4.2% CAGR

Global Structural Steel Fabrication Market Poised for Steady Growth

The Global Structural Steel Fabrication Market is projected to experience steady growth, driven by increasing demand from the construction, automotive, and manufacturing sectors. According to Maximize Market Research, the market is expected to reach approximately USD 226.77 billion by 2030, with a Compound Annual Growth Rate (CAGR) of 4.2% during the forecast period.

Competitive Landscape

The structural steel fabrication industry is characterized by the presence of several key players, including ArcelorMittal, Nippon Steel, Baosteel Group, and POSCO. These companies are focusing on strategic initiatives such as mergers and acquisitions to strengthen their market position and expand their global footprint.

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Regional Demand Highlights

The Asia Pacific region is expected to witness significant growth in the structural steel fabrication market, attributed to rapid industrialization and urbanization. Countries like China and India are investing heavily in infrastructure development, thereby boosting the demand for structural steel fabrication services.The Asia Pacific region presents significant opportunities in the structural steel fabrication market. Nippon Steel, Japan's leading steel manufacturer, is pursuing a $15 billion bid to acquire U.S. Steel as part of its strategy to expand into growing overseas markets like India, Southeast Asia, and the U.S. This acquisition is seen as essential for Nippon Steel's future growth amid declining domestic demand.

Segmentation Analysis

by Service

Metal Welding

Metal Forming

Shearing

Metal Cutting

Metal Shearing

Metal Stamping

Machining

Metal Rolling

Other

During the forecast period, the machining sector holds the largest market share. The market for structural steel fabrication is expected to expand due to its extensive machining technology, fastest-growing trend, and focus on providing precision machined parts and weldments to the transportation, agricultural, and military sectors. It also offers comprehensive machinery manufacturing and rebuilding services.

by Application

type Construction

Automotive

Manufacturing

Energy & Power

Electronics

Defence & Aerospace

Other

The market with the quickest rate of growth during the projection period is the construction segment. Government regulations for improved safety and precaution, rising disposal income, faster global construction, and the growing significance of environmentally friendly products in various infrastructures have all contributed to the growth of the structural steel fabrication market.

by Product Type

Heavy Sectional Steel

Light Sectional Steel

Other Product Types

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 Key Market Participants:

1. Nucor Corporation

2. O’Neal Manufacturing Service

3. BTD Manufacturing

4. KapcoMayville Engineering Company

5. Watson Engineering

6. Bohai Group

7. Nippon Steel & Sumitomo Metal Corporation

8. Tata Limited

9. HSC Ltd.

10. Anyang Group Co. Ltd

11. Wuhan Group

12. POSCO

13. Hebei Group

14. Anshan Iron & Steel Group Corporation

15. Defiance Metal Products

16. Standard Iron & Wire Works

17. Ironform Corporation

18. EVS Metal

19. LancerFab Tech Pvt. Ltd

20. Interplex Holdings Pvt. Ltd

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