July 02,2021/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Structural Steel Market.
Structural steel market is likely to witness an impressive CAGR of 7.1% during the forecast period. The prime factor that is contributing to the demand for structural steel is the growing construction industry.
Structural steel is a category of steel construction material that is produced with a particular shape or cross section, and some specified values of chemical composition and strength. The composition of structural steel, strength, size, shape, and storage are controlled in most advanced countries.
The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Based on the product type, the market is segmented as heavy structural steel, light structural steel, and rebars. The heavy structural steel segment is expected to maintain its commanding position over the forecast period, driven by the increasing infrastructural spending across the globe.
Based on the application type, the market is segmented as residential, non-residential, and industrial. The residential segment is estimated to grow with the highest CAGR over the forecast period owing to rapid urbanization, especially in developing nations.
In terms of regions, Asia-Pacific is estimated to be the largest market for structural steel during the forecast period. The region’s market growth is attributed to the rapid residential, non-residential and infrastructural developments in the emerging economies, such as India and China. Europe and North America are also expected to offer substantial growth opportunities during the forecast period.
Some of the major players in the structural steel market are-
- ArcelorMittal S.A.
- Shagang Group Company Limited
- Hesteel Group Company Limited
- Nippon Steel Sumitomo Metal Corporation
- VISA Steel
- Steel Authority of India Limited
- Anyang Iron Steel Group Co., Ltd.
- China BaoWu Steel Group Corporation Limited.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The structural steel market analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors