UK Structural Steel Market Size & Outlook, 2022-2030
UK structural steel market, 2018-2030 (US$M)
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UK structural steel market highlights
- The UK structural steel market generated a revenue of USD 775.3 million in 2022 and is expected to reach USD 985.1 million by 2030.
- The UK market is expected to grow at a CAGR of 3% from 2023 to 2030.
- In terms of segment, 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.
Structural steel market data book summary
| Market revenue in 2022 | USD 775.3 million |
| Market revenue in 2030 | USD 985.1 million |
| Growth rate | 3% (CAGR from 2022 to 2030) |
| Largest segment | Residential |
| Fastest growing segment | Non-residential |
| Historical data | 2018 - 2021 |
| Base year | 2022 |
| Forecast period | 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, UK accounted for 0.6% of the global structural steel market in 2022.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Europe, Russia structural steel market is projected to lead the regional market in terms of revenue in 2030.
- Germany is the fastest growing regional market in Europe and is projected to reach USD 3,605.0 million by 2030.
Residential was the largest segment with a revenue share of 57.76% in 2022. Horizon Databook has segmented the UK structural steel market based on residential, non-residential covering the revenue growth of each sub-segment from 2018 to 2030.
The UK presents a relatively mature and moderately growing construction market. Increasing housing building completions are expected to create a positive impact on structural steel demand. As per the national statistics on house building in the UK, house building completions in Q4 2018 observed growth of 2% compared to Q3 2018 and 1% y-o-y growth in Q4 2017.
Factors such as the Brexit related uncertainties, fluctuating exchange rates, and rising inflation are expected to restrict the growth of construction industry in the UK. In addition, housing sector was negatively affected by the stamp duty changes.
However, the continued support offered by the governmental policies resulted in the growth of housing sector. These factors are combinedly projected to create impact on structural steel products. Structural steel market in the UK.
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Structural Steel Market Scope
Structural Steel Market Companies
| Name | Profile | # Employees | HQ | Website |
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UK structural steel market size, by application, 2018-2030 (US$M)
UK Structural Steel Market Outlook Share, 2022 & 2030 (US$M)
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