-- Structural Steel Industry 2019
Description:-
The use of structural steel in the buildings is widely popular today due to its range of benefits. Every skyscraper in the world is built using structural steel. The use of structural steel allows the building construction to go beyond boundaries to create large storey buildings. Structural steel is in high demand due to the safety factor as it is non-combustible and resistant to rust which makes it durable to adverse weather conditions. The cost of construction with the use of structured steel is less, and therefore, its demand is growing rapidly among the customers. Use of structural steel in the construction work makes it adaptable for future add-ons. They allow expansion of the steel in all directions. It is durable enough to sustain the weight of the addition of new stories.
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The report focuses on the overall market status of the Global Structural Steel Industry, along with the growth opportunities. It also highlights the key market segmentation of the industry referring to the product, application, and region segmentation. The report also states the major key players of the industry that are working with full efforts to increase the market revenue. The global structural steel market size was xx million US$ in the year 2016. Due to its productive benefits and increasing demands, the market size is expected to grow up to 141.49 billion US$ by the end of the year 2026. The rate of CAGR is 5.6% for the financial years 2017-2026.
Classification of the Global Structural Steel Market
On the basis of product classification, the global Structural steel market deals in providing Heavy Structural Steel and Light structural steel. The type of structural steel requirement depends upon the constructional needs of the customer. Large scale constructional projects such as tall buildings, skyscrapers, and big offices require heavy structural steel. Light structural steel is essential for house construction with a couple of stories.
On the basis of application segmentation, the global Structural Steel market extends its service to non-residential, commercial, office, residential, institutional, and other sectors. Among all the applications, transmission tower construction is one of the most significant ones which requires a separate form of structural steel for the construction.
On the basis of region segmentation, the Global Structural Steel Market is widely spread across various regions of the world including North America, U.S, Germany, India, Asia-Pacific, and other regions of the world. Amongst all the regions, Asia-Pacific is the largest revenue-generating region due to the growing demands from China. The growth rates are also high for Europe and North America.
Top Players of the Global Structural Steel Market
In the competitive market, many companies are delivering quality products to the customers that build the market reputation. Some of the major players are POSCO, Tata Limited, Bohai Group, and others. Their collective effort is putting the global industry n to a thriving stage.
Top News of the Industry
In September 2019, many small and large scale projects have demanded the use of structural steel over traditional steel. It is a good sign for the Global Market as the market revenue will hike at remarkable levels.
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