North America Structural Steel Market Size & Outlook
North America structural steel market, 2018-2030 (US$M)
Related Markets
North America structural steel market highlights
- The North America structural steel market generated a revenue of USD 10,663.9 million in 2022.
- The market is expected to grow at a CAGR of 3.8% 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, U.S. is expected to register the highest CAGR from 2023 to 2030.
North America data book summary
| Market revenue in 2022 | USD 10,663.9 million |
| Market revenue in 2030 | USD 14,424.2 million |
| Growth rate | 3.8% (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, North America region accounted for 8.7% 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 56.09% in 2022. Horizon Databook has segmented the North America structural steel market based on residential, non-residential covering the revenue growth of each sub-segment from 2018 to 2030.
Construction sector of North America is one of the leading sectors globally and contributes heavily to the global GDP. Construction industry in North America has witnessed recovery from the economic recession of 2009 & 2010, leading to an uptick in housing starts and boosting residential & nonresidential construction spending.
North America construction industry saw positive growth in 2018, mainly due to wage growth and low borrowing costs for additional housing. This was supported by the flow of investment in major cities. Aging of infrastructure is expected to remain a key factor for the growth of the structural steel market over the forecast period.
As per the report of the American Society of Civil Engineers in 2017, the U.S. received D+ grade for its infrastructure and needs to spend around USD 4.5 trillion by 2025 on developing its infrastructure. The country also requires spending of around USD 123 billion for the fixation of bridges.
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Structural Steel Market Scope
Structural Steel Market Companies
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North America structural steel market size, by country, 2018-2030 (US$M)
North America Structural Steel Market Outlook Share, 2022 & 2030 (US$M)
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