Global Structural Steel Fabrication Market was valued US$ 90Bn in 2017 and is expected to reach US$ 140Bn by 2026 at a CAGR of about 5.68% during a forecast Global Structural Steel Fabrication Market is segmented into by service, by application, and by region. Based on service, Structural Steel Fabrication Market is classified into Metal Welding, Metal Forming, Metal Cutting, Metal Shearing, Metal Stamping, Metal Rolling & Other. In application, type is divided into Construction, Automotive, Manufacturing, Energy & Power, Electronics, Defence & Aerospace & Other. Geographically into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Global Industry Analysis and forecast 2018-2026.
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Driving factors for the structural steel fabrication market are increasing growth in the construction industry, works on multiple value-added services under a single roof, which include welding, cutting, machining, and shearing, Expansion of the automotive sector has positively influenced the market and it has one of the highest strength-to-weight ratios of any building material. Well trained welders and fabricators can shape steel into whatever is necessary for construction product without sacrificing its inherent strength will help the market to boost in the structural steel fabrication market.
Unorganized local players with competitive pricing and Rising popularity of 3D printing services specifically in aerospace, automotive, and marine sectors can hamper the growth of Structural Steel Fabrication Market.
In terms of Service, machining segment shares the highest market during the forecast period. Its widespread machining technology aspects and fastest growing trend provides comprehensive machinery manufacturing and rebuilding services and specialize in supplying precision machined parts and weldments to the military, transportation, and agricultural industries are going to create more opportunity in the structural steel fabrication market.
In terms of Application, Construction segment shares the fastest growing market during the forecast period. Rising in disposal income, increasing construction with the higher pace at world level, government norms for better safety and precaution, the growing importance of environmentally friendly products in various infrastructures has also propelled structural steed growth are too helping to create more demand in Structural Steel Fabrication Market.
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Among region, Asia Pacific is expected to grow at the highest CAGR during the forecast period. Emerging economies and the strong presence of manufacturers in Japan, China, and India will boost the market in this region. The rise in the construction of residential and no-residential buildings rise in industrial development and low-cost labor rate with well-trained welders and fabricators are creating more opportunity in this region.
Nucor Corporation, Oâ€™Neal Manufacturing Service, BTD Manufacturing, KapcoMayville Engineering Company, Watson Engineering, Bohai Group, Nippon Steel & Sumitomo Metal Corporation, Tata Limited, HSC Ltd., Anyang Group Co. Ltd, Wuhan Group, POSCO, Hebei Group, Anshan Iron & Steel Group Corporation, Defiance Metal Products, Standard Iron & Wire Works, Ironform Corporation, EVS Metal, LancerFab Tech Pvt. Ltd, Interplex Holdings Pvt. Ltd.
The scope of the Report Global Structural Steel Fabrication Market:
Global Structural Steel Fabrication Market: By Service
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Global Structural Steel Fabrication Market: By Application type
Energy & Power
Defense & Aerospace
Global Structural Steel Fabrication Market: By region
Middle East & Africa
Key Player analyzed in the Report:
Oâ€™Neal Manufacturing Service
KapcoMayville Engineering Company
Nippon Steel & Sumitomo Metal Corporation
Anyang Group Co. Ltd
Anshan Iron & Steel Group Corporation
Defiance Metal Products
Standard Iron & Wire Works
LancerFab Tech Pvt. Ltd
Interplex Holdings Pvt. Ltd