Global Structural Steel Market Size & Outlook, 2022-2030
Global structural steel market, 2018-2030 (US$M)
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Global structural steel market highlights
- The global structural steel market generated a revenue of USD 123,100.7 million in 2022 and is expected to reach USD 174,510.2 million by 2030.
- The market is expected to grow at a CAGR (2023 - 2030) of 4.5% by 2030.
- In terms of segment, non-residential accounted for a revenue of USD 63,925.3 million in 2022.
- Non-residential is the most lucrative application segment registering the fastest growth during the forecast period.
- In terms of region, Asia Pacific was the largest revenue generating market in 2022.
- Country-wise, Saudi Arabia is expected to register the highest CAGR from 2023 to 2030.
Global data book summary
| Market revenue in 2022 | USD 123,100.7 million |
| Market revenue in 2030 | USD 174,510.2 million |
| Growth rate | 4.5% (CAGR from 2022 to 2030) |
| Largest segment | Non-residential |
| Fastest growing segment | Non-residential |
| Historical data covered | 2018 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Residential, Non-residential |
Other key industry trends
- In terms of revenue, the North America accounted for 8.7% of the global structural steel market in 2022.
- By country, the China is projected to lead the global market in terms of revenue in 2030.
- By country, Saudi Arabia is the fastest growing regional market and is projected to reach USD 875.0 million by 2030.
Non-residential was the largest segment with a revenue share of 51.93% in 2022. Horizon Databook has segmented the Global structural steel market based on residential, non-residential covering the revenue growth of each sub-segment from 2018 to 2030.
Construction is the key end-use industry of structural steel. Various infrastructure and construction sites require a massive amount of structural steel to enhance the strength of the structures. Growing housing need owing to the increasing population is one of the key factors triggering the demand for steel .Steel is affordable and easily available.
It exhibits properties such as versatility, durability, and strength and is 100% recyclable in nature. Structural steel finds wide applications in residential construction, commercial construction, and infrastructure. The construction industry in Europe expanded by 1.8% in November 2022 compared to November 2021, on account of rising investments from the European Union (EU) recovery fund. However, the construction is down by 0.8% due to the impact of the Russia-Ukraine war.
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Structural Steel Market Scope
Structural Steel Market Companies
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Global structural steel market size, by regions, 2018-2030 (US$M)
Top 10 countries: Structural steel market size, 2022 (US$M)
Global structural steel market share, by application, 2022 & 2030 (%, US$M)
Structural steel market: Opportunity assessment by country
Global structural steel market, by region, 2022 (US$M)
Related regional statistics
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