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Covid-19 Impact on Structural Steel Market is Expected to Grow at an Impressive CAGR by 2026

Structural steel market is likely to witness an impressive CAGR of 7.1% during the forecast period.

 

July 02,2021/IndustryNewsGlobal/ Theunexpected shifts in the global markets because of the sudden outbreak of theCOVID-19 virus have brought many major and minor tremors to industries of all sizes including the StructuralSteel Market. 

Structural steel market is likely to witness an impressive CAGRof 7.1% during the forecast period. The prime factor thatis contributing to the demand for structural steel is the growing constructionindustry. 

Structural steel is a category of steel construction material thatis produced with a particular shape or cross section, and some specified valuesof chemical composition and strength. The composition of structural steel, strength, size, shape, and storage are controlled in most advanced countries. 

Thereport provides detailed insights into the market dynamics to enable informedbusiness decision making and growth strategy formulation based on the opportunities present in the market. 

Based on the product type, the market is segmented as heavystructural steel, light structural steel, and rebars. The heavy structural steel segment is expected to maintain its commanding position overthe forecast period, driven by the increasing infrastructural spending acrossthe globe. 

Based on the application type, the market is segmented asresidential, non-residential, and industrial. The residential segment is estimated togrow with the highest CAGR over the forecast period owingto rapid urbanization, especially in developing nations. 

In terms of regions, Asia-Pacific is estimated to be thelargest market for structural steel during the forecastperiod. The region’s market growth is attributed to the rapid residential,non-residential and infrastructural developments in the emerging economies, such as India and China. Europe and North America are also expected to offer substantial growth opportunities during the forecast period. 

KeyPlayers:  

Some of the major players in the structural steel market are-  

  • Arcelor Mittal S.A. 
  • Shagang Group Company Limited 
  • Hesteel Group Company Limited 
  • Nippon Steel & Sumitomo Metal     Corporation 
  • POSCO 
  • VISA Steel 
  • Steel Authority of India Limited 
  • Anyang Iron & Steel Group Co., Ltd. 
  • China BaoWu Steel Group Corporation     Limited. 

Features of the Report 

This report offershigh-quality insights and is the outcome of detailed research methodologycomprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. 

The structural steel market analysis reportdiscusses the following heads in great detail: 

· Market structure: Overview,industry life cycle analysis, supply chain analysis 

· COVID-19 Impact Assessment 

· Market environmentanalysis: Growth drivers and constraints, Porter’s five forces analysis, SWOTanalysis 

· Market trend and forecastanalysis 

· Market segment trend andforecast 

· Competitive landscape anddynamics: Market share, product portfolio, product launches, etc. 

· Attractive market segmentsand associated growth opportunities 

· Emerging trends 

· Strategic growthopportunities for the existing and new players 

· Key success factors        

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