Asia Pacific Structural Steel Market Size & Outlook
Asia Pacific structural steel market, 2018-2030 (US$M)
Related Markets
Asia Pacific structural steel market highlights
- The Asia Pacific structural steel market generated a revenue of USD 84,796.2 million in 2022.
- The market is expected to grow at a CAGR of 5% from 2023 to 2030.
- In terms of segment, non-residential was the largest revenue generating application in 2022.
- Non-residential is the most lucrative application segment registering the fastest growth during the forecast period.
- Country-wise, Taiwan is expected to register the highest CAGR from 2023 to 2030.
Asia Pacific data book summary
| Market revenue in 2022 | USD 84,796.2 million |
| Market revenue in 2030 | USD 125,081.8 million |
| Growth rate | 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 |
| Key market players worldwide | ArcelorMittal SA Depository Receipt, Gerdau SA ADR, Nippon Steel Corp, Tata Steel Ltd GDR - 144A, Steel Authority Of India Ltd DR |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 68.9% of the global structural steel market in 2022.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 125,081.8 million by 2030.
Non-residential was the largest segment with a revenue share of 52.64% in 2022. Horizon Databook has segmented the Asia Pacific structural steel market based on residential, non-residential covering the revenue growth of each sub-segment from 2018 to 2030.
Asia Pacific dominated the structural steel market in 2019 and is expected to continue its dominance over the forecast period. Strong economic development coupled with population expansion in countries such as China and India are expected to increase construction spending in Asia Pacific over the next seven years.
According to the Organization for Economic Co-operation and Development (OECD), the economy of emerging Asia including Southeast Asia, India, and China is expected to grow at an average rate of 6.3% from 2018 to 2022.
Increasing penetration of structural steel in non-residential constructions such as offices, hospitals, industrial, and commercial, particularly in Southeast Asia, owing to escalated investments is anticipated to drive the structural steel market over the forecast period.
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Structural Steel Market Scope
Structural Steel Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific structural steel market size, by country, 2018-2030 (US$M)
Asia Pacific Structural Steel Market Outlook Share, 2022 & 2030 (US$M)
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