In 2014, the global structural steel market was evaluated around USD 79.87 billion and is expected to reach approximately USD 128.75 billion by 2023 while registering itself at a compound annual growth rate (CAGR) of 5.45% over the forecast period. Robust recovery of construction market in emerged markets of the UK, U.S., and Germany is a major factor fueling the growth of the market.

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Industry Trend Analysis:
Steel segments like wide flanges, angles, I-beams, and channels are extensively utilized in construction market due to their brilliant energy efficiency and design flexibility. Exponential technological developments in market for production maximization and cost reduction have boosted the high performance structural steel demand. The product demonstrates advanced properties like excellent ductility and seismic resistance, high strength, speed of erection and ease of fabrication. Rising application scope in an extensive non-residential applications range involving data centers, manufacturing facilities, healthcare facilities, big box retail stores, and airports is anticipated to strengthen the demand. Elevated economic growth rate in developing regions has render governments’ considerable capital to fund the public infrastructure like hospitals, bridges, housing societies, and offices. Appearance of private sector construction firms in UAE, Mexico and India is projected to further bestow in construction expenditure, influencing the global market growth positively.

Application Outlook and Trend Analysis:
The global structural steel market has been split into non-residential and residential sections. In 2015, the non-residential appear as the leading application section, due to rising demand for superior-quality construction material in commercial, industrial, institutional buildings and offices. It is most frequently utilized in industrial building as its massive strength is advantageous not just for structural reliability but also for settling possible affect of repairs. It is also superlative for building huge bridges due to its elevated level of durability and brilliant strength-to weight allowance which make sure resisting the weight of pedestrians and cars. Developing countries of Asia Pacific such as China and Hong Kong have experienced rapid expansion rate in non-residential section during the last few years due to the implementation of dedicated novel construction methods like reclamation and design-and-build methods. An extensive application range in residential buildings varying from a mixed-space building to a single family house is directing towards amplified market demand. The rising significance of green products in different infrastructures has also fueled the growth of the structural steel as it is completely recyclable without any degradation. Commercial buildings industry is experiencing augmented number of big box, grocery, and drugstore stores during the last few years due to strong online sales along with excessive discounts. Rising investment in community infrastructure and enhancement in investors as well as consumers’ confidence are expected to boost the growth of the global market further in approaching years.

Regional Outlook and Trend Analysis:
Northern Asia rules the global market due to rapid industrial development, technological advancements, increasing construction expenditure, and high GDP growth rates. China is anticipated to appear as the leading country in this region owing to population expansion combined with elevated GDP expansion. Rising number of public-private partnership (PPP) projects are expected to compliment the market demand further. Favorable government regulations involving Make-in-India combined with major augment in foreign direct investments are expected to remain the major market growth driving factor for the South Asian countries. The optimistic developments in the financial conditions of region are expected to promote developments in the housing & residential segment during the forecast years. North American market is anticipated to grow at a compound annual growth rate of 3.4% during the forecast years.

Competitive Outlook and Trend Analysis:
Major industry participants are Nippon Steel & Sumitomo Metal Corporation, Arcelor Mittal S.A., Hebei Group, POSCO, Baosteel Group Co., Wuhan Group, Hyundai Steel Co. Ltd. (HSC Ltd.), Bohai Group, Anshan Iron & Steel Group Corporation, Baogang Group, Anyang Group Co. Ltd., and Tata Limited among others. Other major companies in the global market are also implementing several strategic initiatives involving mergers & acquisition to achieve a superior competitive edge and intensify their geographic range.

Research Methodology:
We use both primary as well as secondary research for our market surveys, estimates and for developing forecast. Our research process commence by analyzing the problem which enable us to design the scope for our research study. Our research process is uniquely designed with enough flexibility to adjust according to changing nature of products and markets, while retaining core element to ensure reliability and accuracy in research findings. We understand both macro and micro-economic factors to evaluate and forecast different market segments.

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Data Mining:
Data is extensively collected through various secondary sources such as annual reports, investor presentations, SEC filings, and other corporate publications. We also refer trade magazines, technical journals, paid databases such as Factiva and Bloomberg, industry trade journals, scientific journals, and social media data to understand market dynamics and industry trends. Further, we also conduct primary research to understand market drivers, restraints, opportunities, challenges, and competitive scenario to build our analysis.

Data Validation:
We believe primary research is a very important tool in analyzing and forecasting different markets. In order to make sure accuracy of our findings, our team conducts primary interviews at every stage of research to gain deep insights into current business environment and future trends and key developments in market. This includes use of various methods such as telephonic interviews, focus groups, face to face interviews and questionnaires to validate our research from all aspects. We validate our data through primary research from key industry leaders such as CEO, product managers, marketing managers, suppliers, distributors, and consumers are frequently interviewed. These interviews provide valuable insights which help us to have better market understanding besides validating our estimates and forecast.

Table of Contents:
1.Introduction
1.1.Report Description
1.2.Research Methodology
1.2.1.Secondary Research
1.2.2.Primary Research
2.Executive Summary
2.1.Key Highlights
3.Market Overview
3.1.Introduction
3.1.1.Market Definition
3.1.2.Market Segmentation
3.2.Market Dynamics
3.2.1.Drivers
3.2.1.1.Increasing Construction Spending in Emerging Economies
3.2.1.2.Recovery of Construction Industry in Developed Markets
3.2.2.Restraints
3.2.2.1.Volatile Raw Material Prices
3.2.3.Opportunities
3.2.3.1.Emerging Markets to Offer Lucrative Growth Opportunities
4.Structural Steel Market, By Application
4.1.Introduction
4.2.Global Structural Steel Sales, Revenue and Market Share by Application (2014-2017)
4.2.1.Global Structural Steel Sales and Sales Share by Application (2014-2017)
4.2.2.Global Structural Steel Revenue and Revenue Share by Application (2014-2017)
4.3.Structural Steel Market Assessment and Forecast, By Application, 2014-2023
4.4.Non-residential
4.4.1.Market Assessment and Forecast, By Type, 2014-2023 ($Million)
4.4.2.Market Assessment and Forecast, By Region, 2014-2023 ($Million)
4.4.3.Industrial
4.4.3.1.Market Assessment and Forecast, By Region, 2014-2023 ($Million)
4.4.4.Commercial
4.4.4.1.Market Assessment and Forecast, By Region, 2014-2023 ($Million)
4.4.5.Offices
4.4.5.1.Market Assessment and Forecast, By Region, 2014-2023 ($Million)
4.4.6.Institutional
4.4.6.1.Market Assessment and Forecast, By Region, 2014-2023 ($Million)
4.5.Residential
4.5.1.Market Assessment and Forecast, By Region, 2014-2023 ($Million)
…

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Some of the key questions answered by the report are:

What was the market size in 2014 and forecast from 2014 to 2023?

What will be the industry market growth from 2014 to 2023?

What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?

What are the major segments leading the market growth and why?

Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?

Continued…

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