PUBLISHER: Lucintel | PRODUCT CODE: 1455927
PUBLISHER: Lucintel | PRODUCT CODE: 1455927
Steel Fabrication Trends and Forecast
The future of the global steel fabrication market looks promising with opportunities in the automotive, building & construction, manufacturing, and energy & power markets. The global steel fabrication market is expected to reach an estimated $27.3 billion by 2030 with a CAGR of 4.5% from 2024 to 2030. The major drivers for this market are boosting demand for steel from infrastructure development projects, growing construction industry, and increasing demand for customized steel products in various sectors.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Steel Fabrication by Segment
The study includes a forecast for the global steel fabrication by type, end use industry, and region.
List of Steel Fabrication Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies steel fabrication companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the steel fabrication companies profiled in this report include-
Steel Fabrication Market Insights
Lucintel forecasts that carbon steel will remain the largest segment over the forecast period due to its outstanding tensile strength, which qualifies it for usage in the building of pipelines, buildings, and bridges.
Within this market, building & construction will remain the largest segment due to significant use of steel in this sector given to its resilience, robustness, and adaptability.
APAC will remain the largest region over the forecast period due to expanding industrialization, rising development of smart cities, and presence of major manufacturing units in the region.
Features of the Global Steel Fabrication Market
Market Size Estimates: Steel fabrication market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Steel fabrication market size by type, end use industry, and region in terms of value ($B).
Regional Analysis: Steel fabrication market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, end use industries, and regions for the steel fabrication market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the steel fabrication market.
Analysis of competitive intensity of the industry based on Porter's Five Forces model.
FAQ
Q1. What is the steel fabrication market size?
Answer: The global steel fabrication market is expected to reach an estimated $27.3 billion by 2030.
Q2. What is the growth forecast for steel fabrication market?
Answer: The global steel fabrication market is expected to grow with a CAGR of 4.5% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the steel fabrication market?
Answer: The major drivers for this market are boosting demand for steel from infrastructure development projects, growing construction industry, and increasing demand for customized steel products in various sectors.
Q4. What are the major segments for steel fabrication market?
Answer: The future of the steel fabrication market looks promising with opportunities in the automotive, building & construction, manufacturing, and energy & power markets.
Q5. Who are the key steel fabrication market companies?
Answer: Some of the key steel fabrication companies are as follows:
Q6. Which steel fabrication market segment will be the largest in future?
Answer: Lucintel forecasts that carbon steel will remain the largest segment over the forecast period due to its outstanding tensile strength, which qualifies it for usage in the building of pipelines, buildings, and bridges.
Q7. In steel fabrication market, which region is expected to be the largest in next 5 years?
Answer: APAC will remain the largest region over the forecast period due to expanding industrialization, rising development of smart cities, and presence of major manufacturing units in the region.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.