Steel Structures Convention Market Analysis and Reports | Australia Conference Series

Market Analysis - Steel Structures Convention-2019

Industry Insights

The global structural steel market size was valued at Australian dollar84.6 billion in 2015 and is projected to grow at a CAGR of 5.5% from 2016 to 2025. Strong recovery of construction industry in developed markets of the Melbourne, Australia, U.S., Germany and UK is a key factor driving market growth.

Steel sections such as I-beams, angles, channels and wide flanges are widely used in construction industry owing to their exceptional design flexibility and energy efficiency. Exponential technological advancements in industry for cost reduction and production maximization has fostered the demand of high performance structural steel.

Australia structural steel market revenue by application, 2014 - 2025 (Australian dollar)

 

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The product exhibits superior properties such as high strength, excellent ductility and seismic resistance, ease of fabrication and speed of erection. Increasing application scope in a wide range of non-residential applications including healthcare facilities, data centers, big box retail stores, airports and manufacturing facilities is expected to foster the demand.

High economic growth rate in emerging regions has given governments’ significant capital to invest in public infrastructure such as bridges, hospitals, offices, and housing societies. Emergence of private sector construction firms in India, Mexico and UAE is expected to further contribute in construction spending, positively influencing the market growth.

Application Insights

The market has been segmented into residential and non-residential segments. The non-residential emerged as the dominant application segment in 2015, owing to increasing demand for high-quality construction material in industrial, commercial, offices and institutional buildings.

It is most commonly used in industrial building since the immense strength is beneficial not only for structural integrity but also for subsiding potential impact of repairs. It is also ideal for building large bridges owing to its high level of durability and excellent strength-to weight ration which ensures withstanding the weight of cars and pedestrians.

Structural steel market share by non-residential application, 2015

 

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Emerging economies of Asia Pacific including Hong Kong and China have witnessed rapid growth rate in non-residential segment over the past few years owing to the adoption of specialized novel construction techniques such as design-and-build and reclamation methods.

A wide application scope in residential buildings ranging from a single family house to a mixed-space building is leading to augmented demand. The growing importance of environmental friendly products in various infrastructures has also propelled structural steed growth since it is 100% recyclable with no degradation.

Commercial buildings market is witnessing increased number of grocery, drugstore and ‘big box’ stores over the past few years owing to robust online sales coupled with extreme discounts. Increasing investment in public infrastructure and improvement in consumer as well as investors’ confidence further anticipated to boost the market growth in upcoming years.

Regional Insights

North Asia dominates the industry owing to, technological advancements, rapid industrial development, high GDP growth rates, and increasing construction spending. China is expected to emerge as the dominant country in the region due to population expansion along with high GDP growth. Increasing number of public-private partnership (PPP) projects are further expected to compliment the demand.

Favorable government policies including Make-in-India along with significant rise in foreign direct investments are likely to remain the key drivers of market growth in South Asian economies. The positive developments in regional economic conditions are likely to foster developments in the residential & housing sector over the forecast period.

North America is expected to grow at a CAGR of 3.4% over the forecast period. An increase in the number of building permits released by the U.S Census Bureau has led to a rise in the construction of residential and no-residential buildings. The industrial revival driven by the shale gas deposits in U.S and access to cheaper energy is also likely to positively influence demand.

Competitive Insights

Key players include Arcelor Mittal S.A., Nippon Steel & Sumitomo Metal Corporation, Hebei Group, Baosteel Group Co., POSCO, Wuhan Group, Bohai Group, Tata Limited, Anshan Iron & Steel Group Corporation, Anyang Group Co. Ltd., Baogang Group, and Hyundai Steel Co. Ltd. (HSC Ltd.) among others.

HSC Ltd. announced completion of Steel Deformed (SD) 500 and SD 600 earthquake-proof reinforcing bars, manufactured first time in Korea. This innovation is considered to be a result of growing interest on earthquake-resistant reinforcing bars that delay the collapse of building structures and minimize damages when an earthquake hits.

Other prominent companies operating in the industry are also adopting various strategic initiatives including mergers & acquisition to gain a greater competitive advantage and escalate their geographic reach.

Report Scope

Attribute

Details

Base year for estimation

2016

Actual estimates/Historical data

2014 & 2016

Forecast period

2017 - 2025

Market representation

Volume in Kilo Tons, Revenue in Australian dollar Million & CAGR from 2016 to 2025

Regional scope

North America, Western Europe, Eastern Europe, North Asia, South East Asia, South Asia, Oceania, MEA, and CSA

Country scope

U.S., Canada, Mexico, UK, Germany, France, Spain, Russia, Turkey, Poland, China, Taiwan, Japan, Thailand, Malaysia, Singapore, Indonesia, Vietnam, Philippines, India, Australia, New Zealand, Saudi Arabia, UAE, Brazil

Report coverage             

Volume & revenue forecast, competitive landscape, growth factors and trends

15% free customization scope (equivalent to 5 analyst working days)

If you need specific market information, which is not currently within the scope of the report, we will provide it to you as a part of customization


Segments covered in the report

This report forecasts volume & revenue growth and provides an analysis on the latest trends in each of the sub-segments from 2014 to 2025. For the purpose of this report, Grand View Research has segmented the structural steel market on the basis of application and region:

The global structural steel market is expected to reach Australian dollar 120.4 billion by 2025, according to a new report by Grand View Research, Inc. recovery of construction industry in developed markets of the Australia, U.S., Japan, Germany and UK is expected to foster industry growth.

Increasing awareness among end-users owing to advantages such as design flexibility, energy efficiency and faster completion of prefabricated/engineered building (PEBs) projects using channels and beams is expected to drive demand. Upsurge in infrastructure development projects in China and India, improving standards of living, high urbanization rates and requirements for sanitation are the major growth drivers for Asia Pacific region, particularly in commercial and residential sectors.

Companies are investing in R&D for technological advancements, cost minimization, and production maximization. Technologies deployed for the production are thin-slab casting, electric furnace and vacuum degassing. Residential segment is expected to grow at a CAGR of 4.1%, from 2016 to 2025, owing to rapid urbanization and positive outlook on economic development. It minimizes the loads on foundations and also reduces sub-structure costs in residential buildings.

Further key findings from the report suggest:

  • Structural steel market volume was estimated at nearly 125 million tons in 2015, and is projected to grow at a CAGR of over 4.0% from 2016 to 2025
  • North Asia emerged as the leading regional market and accounted for over 60% of the overall volume in 2015. North Asia is expected to grow significantly over the forecast period owing to increasing construction spending in countries such as China, Japan and Hong Kong
  • Demand in construction industry is further driven by adoption of advancements in structural design methods, evolving building practices, and strong raw material availability
  • Industrial applications are likely to generate high demand as well over the forecast period owing to governments focus towards construction development such as Smart Cities project in India
  • India is one of the fastest emerging economies in steel production and is characterized by substantial number of economic reforms and implementation of merger & acquisition deals by companies.
  • Major key operating companies include Baogang Group, Bohai Group Co., Ltd., Anshan Iron & Group Corporation, Anyang Iron & Group Corporation, Arcelor Mittal S.A., Benxi Beiying Group Co. Ltd., Evraz Group, Hebei Group, POSCO, Tata Limited, Steel Authority of India Limited, Gerdau S.A. and Nippon Steel & Sumitomo Metal Corporation (NSSMC)

ConferenceSeries llc LTC  invites all the participants across the globe to attend the 6th International Conference on Steel and Concrete Structures during   July 23-24, 2019 at  Melbourne, Australia. Steel Structures Convention 2019 focuses on advanced methods and analysis of Steel and Concrete Structures specially.

Steel Structures 2019 conference will make the perfect platform for global Construction development as it gathers renowned speakers, researchers, Structural Engineers, designers, Civil Engineers, builders across the globe to a most exciting and memorable Engineering gathering filled with much enlightening interactive sessions, world class exhibition and poster presentations to enhance the theme “Renovating steel and Construction Technology for Sustainable Infrastructures”. Advances in the Construction field of Steel and Concrete Structures are one of the crucial factors in the economic prowess of the developed countries. Also for the developing countries, adoption of innovative construction techniques and various versatile steel structures is paramount for advancement of their economies.
Steel Structures Convention objective is to provide the construction industry with a highly focused gateway to learn, analyze and design the region’s major construction opportunities and also to meet different Steel and Concrete production companies, Structural Engineering companies, Steel and Concrete construction companies, Steel Concrete composite building companies, Building Material fabrication companies.