Wilmington, Delaware, Nov. 17, 2023 (GLOBE NEWSWIRE) -- According to RationalStat’s most recent industry analysis, the Global Structural Steel Fabrication Market value is estimated at US$ 18.8 billion in 2023 and is expected to rise at a strong CAGR of over 4.3% over the forecast period of 2023-2030.
Market Definition, Market Scope, and Report Overview
Structural steel fabrication is a process including the cutting, bending, and assembling of steel structures, components, or frameworks for various building projects. Buildings and bridges, as well as industrial facilities and infrastructure, are examples of such undertakings. Structural steel fabrication is a crucial part in the building industry.
Prefabrication of structural steel components in fabrication factories enables efficient and precise on-site construction. This reduces construction time and costs, making structural steel an appealing solution for projects with short timelines.
According to a deep-dive market assessment by RationalStat, the global Structural Steel Fabrication market has been analyzed on the basis of market segments, including service, application and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the global Structural Steel Fabrication market covers market sizes on the basis of market value (US$/EUR Million) and volume (Tons) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the global Structural Steel Fabrication market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Global Structural Steel Fabrication Market: Segmental and Market Share Analysis
- On the basis of application, construction segment shares the fastest-growing market during the forecast period. Rising in disposable income, increasing construction at a higher pace at the world level.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2023 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 18.8 billion |
| Market Size Forecast | US$ 25.2 billion |
| Growth Rate | 4.3% |
| Dominant Segment | Construction |
| Dominant Region | Asia Pacific |
| Key Market Drivers |
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| Companies Profiled |
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Competition Analysis and Market Structure
Some leading players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & and acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global structural steel fabrication market include.
- In June 2023, Cemtrex Inc., a security technology and industrial services company, acquired a service contractor and steel fabricator, located in central Pennsylvania, that provides ASME pressure vessels, heat exchangers, mix tanks, reactors, and other fabricated equipment to the industrial and water treatment markets.
Some of the prominent players and suppliers operating and contributing significantly to the global structural steel fabrication market growth include Defiance Metal Products Inc, Mayville Engineering Comp. Inc., Matcor-Matsu Group Inc., TATA Steel, BTD Manufacturing Inc., O’Neal Manufacturing Service, and Kaman Corporation, among others.
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RationalStat has segmented the global structural steel fabrication market based on service, application and region
- Global Structural Steel Fabrication Market Value (US$ Million), Volume (Tons), and Market Share (2019-2030) Analysis by Service
- Metal Welding
- Metal Forming
- Shearing
- Metal Cutting
- Others
- Global Structural Steel Fabrication Market Value (US$ Million), Volume (Tons), and Market Share (2019-2030) Analysis by Application
- Construction
- Automotive
- Manufacturing
- Energy & Power
- Others
- Global Structural Steel Fabrication Market Value (US$ Million), Volume (Tons), and Market Share (2019-2030) Analysis by Region
- North America Structural Steel Fabrication Market Value (US$ Million), Volume (Units), and Market Share (2019-2028) Analysis by Country
- US
- Canada
- Latin America Structural Steel Fabrication Market Value (US$ Million), Volume (Units), and Market Share (2019-2028) Analysis by Country
- Brazil
- Mexico
- Rest of Latin America
- Western Europe Structural Steel Fabrication Market Value (US$ Million), Volume (Units), and Market Share (2019-2028) Analysis by Country
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe Structural Steel Fabrication Market Value (US$ Million), Volume (Units), and Market Share (2019-2028) Analysis by Country
- Russia
- Poland
- Hungary
- Other CIS Countries
- Rest of Eastern Europe
- Asia Pacific Structural Steel Fabrication Market Value (US$ Million), Volume (Units), and Market Share (2019-2028) Analysis by Country
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Indonesia
- Thailand
- Philippines
- Vietnam
- Malaysia
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa Structural Steel Fabrication Market Value (US$ Million), Volume (Units), and Market Share (2019-2028) Analysis by Country
- GCC
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Rest of the GCC
- South Africa
- Nigeria
- Turkey
- Rest of the Middle East & Africa
- GCC
- North America Structural Steel Fabrication Market Value (US$ Million), Volume (Units), and Market Share (2019-2028) Analysis by Country
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Key Questions Answered in the Structural Steel Fabrication Report:
- What will be the market value of the global Structural Steel Fabrication market by 2030?
- What is the market size of the global Structural Steel Fabrication market?
- What are the market drivers of the global Structural Steel Fabrication market?
- What are the key trends in the global Structural Steel Fabrication market?
- Which is the leading region in the global Structural Steel Fabrication market?
- What are the major companies operating in the global Structural Steel Fabrication market?
- What are the market shares by key segments in the global Structural Steel Fabrication market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
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