Structural Steel Fabrication Market Report 2025

The structural steel fabrication market size has grown strongly in recent years. It will grow from $166.33 billion in 2024 to $181.48 billion in 2025 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to construction boom, industrialization, urbanization trends, government infrastructure investments, cost-effectiveness.

The structural steel fabrication market size is expected to see strong growth in the next few years. It will grow to $262.7 billion in 2029 at a compound annual growth rate (CAGR) of 9.7%. The growth in the forecast period can be attributed to infrastructure renewal, population growth, sustainable construction practices, energy sector growth, technological innovation in design. Major trends in the forecast period include increased emphasis on safety and quality standards, rise of 5G technology for communication and collaboration, adoption of augmented reality (AR) and virtual reality (VR), customization and personalization in fabricated structures, collaborations for research and development in fabrication techniques.

The expanding construction industry is anticipated to drive the growth of the structural steel fabrication market in the future. This growth is attributed to ongoing urbanization, upcoming infrastructural projects, and an increasing population. Structural steel is widely used in the construction sector due to its strength, durability, tensile properties, and cost-effectiveness. It is particularly well-suited for the design and fabrication of high-rise buildings, residential structures, bridges, and other types of construction. For example, in February 2024, the Office for National Statistics, a UK-based statistical agency, reported that total annual construction output increased by 2% in 2023 compared to 2022, marking the third consecutive year of growth. Therefore, the expanding construction industry is expected to propel the structural steel fabrication market.

The structural steel fabrication market is poised for substantial growth due to the escalating demand for energy and power. This demand surge is pivotal in various sectors, from extraction to distribution, where structural steel plays a crucial role owing to its versatility, strength, and durability. Reports from the International Energy Agency indicate a significant 1.3% increase in total net electricity output, reaching 879 TWh in September 2023 compared to the previous year. This underscores the profound influence of rising energy and power needs in propelling the structural steel fabrication market.

The adoption of CNC plasma cutting machines by steel fabricators for precise steel cutting is a significant trend gaining traction in the structural steel fabrication market. These machines utilize a plasma cutter to slice through thin to thick metals along a multi-axis grid. Unlike hand-held plasma cutting devices, CNC plasma machines benefit from being programmed and controlled by a computer, which enhances accuracy and consistency. For example, in May 2024, Hypertherm Associates, a US-based industrial manufacturing company, introduced the Powermax45 SYNC, designed to provide efficient and versatile cutting solutions for metalworkers. This system is suitable for various applications, including gouging, cutting, and marking, making it applicable across multiple industries. It features a patented single-piece cartridge that significantly extends consumable life - up to five times longer than competing products - thereby reducing operating costs. Additionally, with advanced torch communication and an easy setup for mechanized use, the Powermax45 SYNC ensures high-quality cuts while minimizing the potential for operator error.

In the structural steel fabrication market, major companies are embracing strategic partnerships to revolutionize the industry globally. This collaborative approach involves leveraging mutual strengths and resources for shared success. For instance, in February 2022, Trimble Inc., a US-based construction technology solutions company, announced a partnership with Zamil Steel, a Saudi Arabia-based firm in fabrication, manufacturing, and construction. Zamil Steel opted for Tekla PowerFab software by Trimble to enhance steel fabrication across their facilities in India, Saudi Arabia, Vietnam, and Egypt. This collaboration aims to accelerate Zamil Steel's digitalization efforts, promising superior goods and shorter turnaround times for their clients. Trimble's Tekla PowerFab was chosen for its industry-leading features that align with Zamil Steel's digitalization journey.

In March 2022, Joseph T. Ryerson & Son, Inc., a US-based metal service and distribution firm, acquired Apogee Steel Fabrication for an undisclosed amount. This acquisition aims to enhance Ryerson's processing capabilities and strengthen its network of value-added service centers in Canada. Apogee Steel Fabrication is a Canada-based company specializing in a broad range of sheet metal fabrication services.

Major companies operating in the structural steel fabrication market include ArcelorMittal SA, POSCO, Nippon Steel & Sumitomo Metal Corporation, Tsingshan Holding Group, Tata Steel Limited, JSW Steel Limited, Gerdau S.A., Sujana Group, Mayville Engineering Company Inc., BTD Manufacturing Inc., O'Neal Manufacturing Services Inc., Defiance Metal Products LLC, Ironform Inc., Richard L. Sensenig Company, Lenex Steel LLC, EVS Metal Inc., Watson Engineering Company Inc., LancerFab Tech Pvt Ltd., Zamil Steel Buildings India Private Limited, Apex Buildsys Limited, STI Group, Structural Steelworks Inc., Structural Fabrications Ltd., Steel LLC.

Asia-Pacific was the largest region in the structural steel fabrication market share in 2024. The regions covered in the structural steel fabrication market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the structural steel fabrication market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Structural steel fabrication involves converting raw materials into various shapes by fabricators, creating predetermined structures for buildings, industrial equipment, tools, and other products through cutting, bending, shaping, and assembling steel.

Services within structural steel fabrication encompass a range: metal welding, machining, metal forming, cutting, shearing, folding, rolling, punching, and stamping. Metal shearing, specifically, involves trimming or eliminating excess metal, utilized for cutting metal into diverse shapes and smaller sizes. Products span carbon steel, alloy steel, stainless steel, tool steel, and others, catering to industries such as aerospace, automotive, construction, defense, electronics, energy, manufacturing, mining, and more.

The structural steel fabrication research report is one of a series of new reports that provides structural steel fabrication statistics, including structural steel fabrication industry global market size, regional shares, competitors with structural steel fabrication share, detailed structural steel fabrication segments, market trends and opportunities, and any further data you may need to thrive in the structural steel fabrication industry. This structural steel fabrication research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The structural steel fabrication market includes revenues earned by entities by providing fabrication services and related products. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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