U.S. Structural Steel Market Size & Outlook, 2022-2030
U.S. structural steel market, 2018-2030 (US$M)
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U.S. structural steel market highlights
- The U.S. structural steel market generated a revenue of USD 7,662.5 million in 2022 and is expected to reach USD 10,744.5 million by 2030.
- The U.S. market is expected to grow at a CAGR of 4.3% 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.
Structural steel market data book summary
| Market revenue in 2022 | USD 7,662.5 million |
| Market revenue in 2030 | USD 10,744.5 million |
| Growth rate | 4.3% (CAGR from 2022 to 2030) |
| Largest segment | Non-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, U.S. accounted for 6.2% 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 North America, U.S. structural steel market is projected to lead the regional market in terms of revenue in 2030.
- U.S. is the fastest growing regional market in North America and is projected to reach USD 10,744.5 million by 2030.
Non-residential was the largest segment with a revenue share of 57.74% in 2022. Horizon Databook has segmented the U.S. structural steel market based on residential, non-residential covering the revenue growth of each sub-segment from 2018 to 2030.
Growing focus on sustainable materials has been a key driving factor for the U.S. structural steel industry. Structural steel is considered as a green construction material due to its recyclability. It helps reduce greenhouse gas emissions and contribute to a sustainable environment.
As per the American Institute of Steel Construction, steel & iron industry has reduced carbon emissions by 36% since 1990. In addition, rising number of green buildings is another factor contributing to the growth of the U.S. structural steel market.
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Structural Steel Market Scope
Structural Steel Market Companies
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U.S. structural steel market size, by application, 2018-2030 (US$M)
U.S. Structural Steel Market Outlook Share, 2022 & 2030 (US$M)
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