The Latest Structural Steel Industry Statistics Explained
The global structural steel market size was valued at USD 100.3 billion in 2019.
The statistic “The global structural steel market size was valued at USD 100.3 billion in 2019” represents the total market value of structural steel products worldwide in the given year. This value indicates the significant economic importance and scale of the structural steel industry, serving as a key component in construction projects across various sectors such as commercial, residential, industrial, and infrastructure development. The market size figure reflects the total revenue generated from sales of structural steel products, including beams, columns, and other components used in building construction and infrastructure projects. This statistic is crucial for understanding the growth and trends within the global structural steel market, providing insights into the demand for steel products and the overall health of the construction industry.
The structural steel market anticipated to grow at a CAGR of 5.6% from 2020 to 2027.
This statistic indicates that the structural steel market is expected to experience a Compound Annual Growth Rate (CAGR) of 5.6% from 2020 to 2027. This means that over this period, the market for structural steel is projected to expand at an average annual rate of 5.6%. Such growth reflects an increasing demand for structural steel across various industries, such as construction and infrastructure development. The CAGR figure provides a useful measure to assess the steady growth trajectory of the market over the specified time frame, enabling stakeholders to make informed decisions and projections regarding investments, market strategies, and future developments in the structural steel industry.
The North America structural steel market crossed 13,250 kilo tons by 2026.
The statistic “The North America structural steel market crossed 13,250 kilo tons by 2026” indicates that the total amount of structural steel consumed in North America surpassed 13,250 kilo tons by the year 2026. This figure represents the demand for structural steel in various industries and construction projects within the region. The increase in the consumption of structural steel can be attributed to factors such as growth in infrastructure development, construction projects, and industrial activities in North America. This statistic provides insight into the thriving market for structural steel in the region and reflects the significance of this material in various sectors of the economy.
Heavy structural steel segment is expected to hit USD 35 billion by 2025.
The statistic indicates that the heavy structural steel segment is projected to reach a market value of USD 35 billion by the year 2025. This suggests a significant growth potential for the heavy structural steel industry within the specified timeframe. Factors such as increased infrastructure development, growing construction projects, and rising demand for durable and reliable building materials are likely driving this growth trajectory. The forecasted value represents the estimated total revenue generated by heavy structural steel products and services within the industry by the year 2025, highlighting a favorable outlook for companies operating in this segment.
Structural steel industry in Middle East & Africa was over USD 9.5 billion in 2018.
The statistic ‘Structural steel industry in Middle East & Africa was over USD 9.5 billion in 2018’ indicates that the combined value of the structural steel sector in the Middle East and Africa regions amounted to more than USD 9.5 billion in the year 2018. This figure reflects the overall economic activity and investment within the industry, including the production, sale, and consumption of structural steel products in construction, manufacturing, and other sectors. The significant value highlights the importance and scale of the structural steel market in these regions, indicating a strong demand for steel products for infrastructure and development projects during that year.
Non-residential sector accounted for over 60% volume share in the structural steel market in 2018.
The statistic indicates that in 2018, the non-residential sector represented a substantial portion of the structural steel market, holding over 60% of the total volume share. This suggests that industries such as commercial buildings, industrial facilities, and infrastructure projects were major consumers of structural steel during that time. The high volume share of the non-residential sector highlights the significant role that these industries played in driving the demand for structural steel products in the market in 2018. This statistic provides valuable insight into the market dynamics and the key sectors driving growth in the structural steel industry during that period.
India structural steel market holds a revenue of over USD 2.5 billion in 2018 and is expected to grow significantly by 2025.
This statistic highlights the significant size and growth potential of the structural steel market in India. With a revenue exceeding USD 2.5 billion in 2018, the market is already substantial and is poised for significant expansion by 2025. This indicates strong demand for structural steel products in India, likely driven by factors such as infrastructure development, urbanization, and industrial growth. The projected growth suggests a positive outlook for the industry, with opportunities for stakeholders to capitalize on the increasing demand for structural steel in the Indian market.
Asia Pacific structural steel market is expected to contribute over 55% market share by 2024.
This statistic suggests that the Asia Pacific structural steel market is anticipated to dominate the global market, accounting for more than half of the market share by the year 2024. The high market share indicates significant growth and demand for structural steel in the Asia Pacific region, stemming from factors such as increasing construction and infrastructure development activities. This projection implies that the Asia Pacific market for structural steel is likely to be a key player in driving the overall growth and expansion of the global structural steel industry over the next few years.
Europe structural steel market is projected to register over 3.5% CAGR up to 2024.
The statistic indicates that the European structural steel market is expected to experience a Compound Annual Growth Rate (CAGR) of over 3.5% until the year 2024. This suggests that the market for structural steel products in Europe is projected to steadily grow at this annual rate over the specified time frame. A CAGR of 3.5% signifies a moderate level of growth in the market, indicating potential opportunities for stakeholders in the industry. This projection is based on various factors influencing the demand for structural steel, such as infrastructure development, construction projects, and industrial activities in the region. The statistic provides valuable insight into the anticipated trajectory of the market, serving as a guide for decision-making and strategic planning within the European structural steel sector up to 2024.
Structural steel used in industrial segment is forecast to surpass an annual installation of 25 million tons by 2024.
The statistic indicates that the use of structural steel in the industrial sector is expected to exceed an annual installation of 25 million tons by the year 2024. This forecast suggests a significant growth in the demand for structural steel within industrial applications. The increase in the use of structural steel may be driven by factors such as infrastructure development, industrial expansion, and technological advancements that require sturdy and reliable construction materials. This projection implies positive prospects for the structural steel industry, indicating a strong market demand and potential opportunities for growth and investment within the industrial segment in the coming years.
The U.S. structural steel market size was valued at USD 27.9 billion in 2019.
The statistic indicates that the value of the U.S. structural steel market in 2019 was USD 27.9 billion. This figure represents the total revenue generated by the sales of structural steel products within the United States during that year. The size of the market reflects the significant demand for structural steel in various industries such as construction and manufacturing. This statistic is essential for stakeholders in the steel industry, policymakers, and investors as it provides insight into the market’s performance, trends, and potential opportunities for growth or investment within the sector.
The U.S. structural steel market is expected to exhibit a revenue-based CAGR of 4.2% from 2020 to 2027.
This statistic means that the United States structural steel market is forecasted to grow at a Compound Annual Growth Rate (CAGR) of 4.2% in terms of revenue from the year 2020 to 2027. This implies that the market is projected to expand steadily over the specified time frame, with the revenue generated from structural steel products and services increasing by an average of 4.2% annually. The CAGR provides a more accurate representation of the market’s growth trajectory compared to annual growth rates, as it considers the effect of compounding over multiple years. The positive CAGR indicates a favorable outlook for the U.S. structural steel market and suggests potential opportunities for growth and investment in the industry.
Non-residential application segment in the U.S led the market with over 72% share of the total revenue in 2019.
The statistic indicates that in 2019, the non-residential application segment held the largest market share in the United States, accounting for more than 72% of the total revenue in the industry. This suggests that non-residential applications such as commercial buildings, industrial facilities, and infrastructure projects were the dominant driving force behind the industry’s revenue generation during that period. The significant share of revenue attributed to the non-residential sector implies a strong demand for products or services within this segment, reflecting the importance of commercial and industrial activities in the U.S market in 2019.
The global structural steel market is segmented into carbon structural steel, high-strength low-alloy structural steel, and heat-treated structural steel.
This statistic refers to the breakdown of the global structural steel market into different categories based on the specific characteristics and properties of the steel products. Carbon structural steel is a common type of steel that contains mainly carbon and is widely used in various construction applications. High-strength low-alloy structural steel is designed to provide enhanced strength and toughness compared to traditional carbon steel, making it suitable for structural components in high-demanding environments. Heat-treated structural steel undergoes a specific heat treatment process to improve its strength, hardness, and other mechanical properties. By segmenting the global structural steel market into these categories, it provides a more detailed and nuanced understanding of the various types of steel products available and their specific applications within the industry.
China accounted for about 40% of the global structural steel production in 2020.
The statistic indicates that China played a significant role in the global production of structural steel in 2020, contributing approximately 40% of the total output. This suggests that China has a dominant presence in the structural steel industry, both in terms of manufacturing capacity and market share. The high production volume could be attributed to the country’s robust infrastructure development projects, rapid industrialization, and export activities. As such, China’s position as a major producer of structural steel has implications for the global construction and manufacturing sectors, influencing market dynamics, trade relationships, and economic competitiveness on a worldwide scale.
By 2025, the Asia Pacific structural steel market is projected to increase at a CAGR of over 5%.
The statistic suggests that the Asia Pacific structural steel market is expected to experience significant growth between the present year and 2025, with a Compound Annual Growth Rate (CAGR) of over 5%. This indicates a steady annual increase in market size and demand for structural steel within the region. Factors such as infrastructural development, industrial expansion, and construction projects are likely to be driving this growth. The projection of a CAGR of over 5% indicates that the market is anticipated to expand at a relatively healthy and sustainable rate over the specified period, reflecting positive trends and opportunities in the Asia Pacific region for the structural steel industry.
Structural steel accounts for about 70% of all steel produced globally.
The statistic that structural steel accounts for about 70% of all steel produced globally indicates that a substantial portion of the world’s steel production is dedicated to making structural steel, which is primarily used in construction and infrastructure projects. This high percentage suggests that structural steel is a crucial component in the global steel industry and is in demand for various applications such as buildings, bridges, and other critical structures. Structural steel’s versatile properties, including strength, durability, and flexibility, make it a popular choice for engineering and construction projects worldwide, contributing significantly to the global economy and infrastructure development.
Conclusion
Structural steel industry statistics provide valuable insights into the trends and performance of this sector. By analyzing data on production, consumption, trade, and market share, stakeholders can make informed decisions and strategic plans. Understanding these statistics is crucial for businesses, policymakers, and investors looking to navigate the dynamic landscape of the structural steel industry.
References
0. – https://www.www.grandviewresearch.com
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2. – https://www.www.globenewswire.com
3. – https://www.www.zionmarketresearch.com
4. – https://www.www.crystalmarketreport.com
5. – https://www.www.statista.com
6. – https://www.www.ibisworld.com
