PUBLISHER: Allied Market Research | PRODUCT CODE: 1344444
PUBLISHER: Allied Market Research | PRODUCT CODE: 1344444
According to a new report published by Allied Market Research, titled, "Curved Steel Market," The curved steel market was valued at $3.8 billion in 2022, and is estimated to reach $5.7 billion by 2032, growing at a CAGR of 4.2% from 2023 to 2032.
Curved steel is a specialized type of steel that is manufactured or fabricated into curved or bent shapes, rather than straight. It finds application in various industries, including architecture, construction, automotive, and manufacturing. Curved steel offers unique design possibilities and structural advantages, making it popular in the construction of bridges, stadiums, sculptures, and other curved structures. curved iron and steel structures have been in existence since the mid-19th century, there has been little guidance covering the design of curved steel elements. When forces are applied to a curved steel member, a number of effects that are not applicable to straight members need to be considered. Different effects must be considered if the member is curved in elevation or curved in plan.
Bridges are lifelines for communities, connecting families to their loved ones, students to school, workers to their jobs, goods to stores, and providing critical access and evacuation routes in case of an emergency. Bridge projects also create good-paying construction jobs. Canada has one of the world's largest economies and is one of the world's wealthiest countries. The foundation of its economy is construction, which is in charge of creating and maintaining the built infrastructure of cities, towns, and villages. Around 50 skyscrapers have been erected in significant cities like Toronto, Vancouver, and Calgary over the past ten years, reflecting the impressive growth in infrastructure and construction. 6,500 projects totaling thousands of kilometers of roads and motorways were funded by Infrastructure Canada.
In addition, Vice President Harris and senior administration officials has unveil over $300 million for nine bridge projects, financed by the Bipartisan Infrastructure Law's Bridge Investment Programme, in both rural and urban regions in eight states and the district of Columbia. These bridges serve over 230,000 vehicles combined per day, and the investments will save taxpayers time and money by reducing congestion and making long-overdue improvements. These factors will drive the demand for curved steel in the North America region.Various new projects of bridge construction projects that commenced in the North America like portal bridge enhancement, i-70 Rocheport bridge & Mineola climbing lanes, Sherman Minton bridge rehabilitation, Rumson-sea bright bridge replacement, and cape Canaveral spaceport Indian river bridge replacement. These factors are projected to further boost the demand for curved steel.
The curved steel market is segmented into method, application, and region. By method, it is classified into induction bending, rotary draw & compression bending, cold bending, point bending & GAG pressing and others. By application, the market is categorized into bridges & ports, underground construction, stadiums & arenas, commercial buildings, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA
The report highlights numerous factors that influence the growth of the global curved steel market. This report further outlines the current trends and key areas of investment. In addition, it includes Porter's five forces analysis to understand the competitive scenario of the industry and the role of each stakeholder. The report features the strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of the key market players to increase their market share and sustain the intense competition in the industry.