+1-888-308-5802     
News Contact Us

Structural Steel Market Research Report 2019 | Growth Forecast to 2024

Author : Rahul Varpe | Published Date : 2019-07-31 

The latest report on 'Structural Steel Market' Added by Global market insights, inc , provides a concise analysis of the industry size, revenue forecast and regional spectrum of this business. The report further illustrates the major challenges and the latest growth strategies adopted by key players who are a part of the dynamic competitive spectrum of this industry.

The growing preference for metal structures considering their cost-saving, creativity, and durability benefits is poised to impel structural steel market trends. The material has indeed been used prominently in most of the construction structures comprising towers, multistory buildings, bridges, airports terminals, and industrial buildings of late.

Considering that the deployment of metal structures in various residential and industrial building construction leads to better reliability and ensured high load carrying capacity, giants in the structural steel industry have been focusing on the development of waste and scrap free steel products.

Request for a sample copy of this report @ https://www.gminsights.com/request-sample/detail/2207

Driven by the rapid industrialization and urbanization trends across the globe, most of the leading structural steel providers have been experiencing a plethora of business growth opportunities lately. As on today, most of the industrial and commercial buildings are being constructed mainly with the help of structural steel which is quite overtly slated to propel the product demand across myriad geographies over the years ahead. This is especially for true for the APAC market, that is being propelled by the industrialization trends across India and China.

For instance, in India, owing to the increasing construction activities across industrial as well as commercial sectors, in the first quarter of the financial year of 2018, India imported nearly 2.1 million tons of steel which is 15% more compared to the previous year. In addition, between April and June, the steel imports from Japan and China increased by 30% and 31% respectively from a year earlier.

Speaking along the same line, the Indian government has been extensively involved in numerous infrastructural development projects from the last few years, which has generated considerable competitiveness among the giants in the regional structural steel market. The construction projects comprising building, bridges, and railroads require structural steel on a large scale which the domestic industry has been unable to fulfil.

In accordance, India is importing the material primarily from South Asian countries to meet the country’s growing structural steel demand. The surging infrastructural developments across India and numerous other Asian belts will thus favorably stimulate APAC structural steel market trends over the years ahead.

Heavy investments in the oil & gas industry, commercial buildings and transportation facility developments have attracted renowned players to establish their facility centers in the MEA belt. For instance, in Abu Dhabi, for constructing the Reem mall, the Italian-Emirati JV, Itinera Ghantoot received a contract of more than USD 600 million to build the project in 2017. In order to complete this 1.2-billion-dollar project, nearly 10,000 tons of structural steel and 75,000 tons of rebar are expected to be used, that would considerably augment the revenue scale of MEA structural steel market.

Taking into account the depleting fossil fuel resources, Middle East countries are focusing on the developing tourism for economic stability. In this regard, they have been investing in the development of attractive hospitality centers, commercial malls, and other establishments. On-going investments in the development of such enterprises across the Middle East countries is slated to have a favorable influence on MEA structural steel industry trends over the years ahead.

Having identified the potential benefits of structural steel, a few days before, the European Standard, BSI revised the specific requirement for structural steelwork which could ensure the material’s mechanical durability, stability, resistance, and serviceability. This upgradation of material manufacturing standards will help steelwork companies maintain a high level of assurance and quality of structural steel that would meet the design requirement of various construction projects. The upgradation depicts the vast expanse of Europe structural steel industry and the supposed influence of changing standardization policies on the market dynamics. As per estimates, Europe structural steel market will grow a CAGR of more than 3% over 2018-2024.

Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/2207

Structural steel is liberally used to manufacture various construction equipment such as struts, bars, beams, columns, girders, and plates. The increasing use of these products for constructing various warehouse and industrial spaces is slated to stimulate structural steel industry size over the years ahead. The increasing focus of regional governments and private companies toward the construction of strong, inexpensive, and safe building structures is poised to enhance the product demand in the future.

Read more news @ https://www.marketwatch.com/press-release/transparent-ceramics-market-2019-2025-by-regional-trend-revenue-growth-forecast-2019-07-31

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

Related News

Soundproof Curtains Market Regional Analysis and Growth Forecast Report to 2024

Published Date: 2019-12-05         Author: Rahul Varpe

Global Market Insights present the report on Soundproof Curtains Market evaluates the growth trends of the industry through historical study and estimates future prospects based on comprehensive research. The report extensively provides the market share, growth, trends and forecasts for the period 2... Read More

Air Humidifier Market is Projected to Exhibit a Significant Growth by 2024

Published Date: 2019-12-05         Author: Rahul Varpe

Global Market Insights present the report on Air Humidifier Market evaluates the growth trends of the industry through historical study and estimates future prospects based on comprehensive research. The report extensively provides the market share, growth, trends and forecasts for the period 2019-2... Read More

Oil-Free Air Compressor Market Study Report by Growth and Trend Analysis to 2024

Published Date: 2019-12-05         Author: Rahul Varpe

Global Market Insights present the report on Oil-Free Air Compressor Market evaluates the growth trends of the industry through historical study and estimates future prospects based on comprehensive research. The report extensively provides the market share, growth, trends and forecasts for the peri... Read More

© 2019 Fractovia. All Rights Reserved