Structural Steel Market Revenue to Attain USD 177.97 Bn by 2033


21 Mar 2025

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The global structural steel market revenue reached USD 118.64 billion in 2025 and is predicted to attain around USD 177.97 billion by 2033 with a CAGR of 5.20%. The global market is witnessing significant growth, driven by increasing infrastructure development, rapid urbanization, and rising investments in commercial and residential construction.

Structural Steel Market

Market Overview

The structural steel market encompasses a wide range of products, including beams, columns, and sections, designed to support various architectural and engineering applications. Growing demand for prefabricated steel structures, seismic-resistant buildings, and energy-efficient construction is shaping market dynamics. The markets produce a broad spectrum of products, such as beams together with columns and sections, which support different applications in engineering and architectural applications.

Market dynamics evolve with escalating demand for prefabricated steel structures together with seismic-resistant buildings alongside energy-efficient construction projects. Modern structural steel performance, along with sustainability, is improved by advances in high-strength alloys, corrosion-resistant coatings, and 3D-printed steel components. Market demand rises with increasing infrastructure investments in emerging economies worldwide. These developments underscore the dynamic nature of the structural steel market, influenced by geopolitical factors, technological advancements, and evolving demand patterns.

  • The World Steel Association forecasts global steel demand to rebound by 2.3% in 2023, reaching 1,822.3 million tons, and grow an additional 1.7% in 2024 to 1,854.0 million tons.

Report Highlights

  • By product, the high sectional steel segment accounted for the largest structural steel market share, driven by its widespread use in skyscrapers, bridges, and heavy industrial structures. Its superior load-bearing capacity and resistance to seismic forces make it a preferred choice for large-scale infrastructure projects. On the other hand, the light sectional steel segment is expected to grow at a rapid pace, supported by the expansion of modular construction, prefabricated buildings, and lightweight commercial structures. Advancements in high-strength alloys and corrosion-resistant coatings are further improving the durability and sustainability of light sectional steel.
  • By application, the non-residential segment led the global market, supported by the rising demand for high-rise buildings, stadiums, industrial plants, and commercial complexes. The adoption of energy-efficient construction materials and government-backed infrastructure projects is reinforcing its growth. On the other hand, the residential segment will grow rapidly, fueled by the increasing demand for affordable housing, prefabricated homes, and steel-based smart housing solutions. Urbanization trends and government policies promoting sustainable housing projects are further accelerating growth in this segment

Growing Demand for Sustainable Construction

Governments and regulatory bodies are promoting sustainable construction practices, leading to higher adoption of recycled and low-carbon steel. James L. Tener, Jr. states that environmentally friendly materials are encouraged by green building certifications known as LEED (Leadership in Energy and Environmental Design). Chinese and Indian government policies now require greater amounts of recycled materials usage throughout their large-scale infrastructure development efforts as they continue their transition to sustainable steel solutions.

  • The U.S. Green Building Council revealed through its 2023 report that more than 100,000 LEED-certified projects had been successfully completed worldwide, which proves the escalating sustainability dedication.
  • Under the European Union’s Green Deal, the European Union plans to reach climate neutrality by 2050 while implementing strict emission regulations specifically for construction activities.
  • Advancements in High-Performance Steel Alloys

The structural steel market professionals are creating improved steel alloys that combine higher strength-weight ratios with better fire resistance capabilities along with better corrosion defenses. Manufacturers use these innovations to enhance structural integrity, which raises infrastructure maintenance cost efficiency.

  • High-performance steel alloys experienced a 20% surge in demand throughout 2023, according to World Steel Association statistics from that year, due to infrastructure modernization trends.
  • Rising Adoption of Prefabricated Steel Structures

Prefabrication and modular construction techniques are gaining traction, reducing on-site labor costs and construction timelines. This trend is particularly evident in commercial and industrial projects requiring rapid deployment. The European nations provide financial incentives for prefabricated steel usage, as this measure helps them meet their ambitious greenhouse gas reduction requirements under the EU Green Deal framework.

  • A 2024 report issued by the U.S. Department of Housing and Urban Development shows that modular steel structures deliver reduced construction times, reaching 50% reductions, which improves high-density urban efficiency. 
  • Expansion of Infrastructure Development Programs

Governments worldwide are investing in large-scale infrastructure projects, including roads, bridges, and airports, increasing the demand for the structural steel market. Countries such as China, India, and the United States are implementing extensive urban renewal and smart city initiatives, driving market growth. Low-carbon steel has gained prominence through the European Commission’s Green Deal Initiative, which features a public infrastructure strategy to achieve sustainable emission reduction objectives.

  • The U.S. Department of Transportation dedicated USD 110 billion from the Bipartisan Infrastructure Law in 2023 to enhance highways and bridges, which led to higher steel usage. 
  • In 2024, the Chinese Ministry of Transport issued a USD 1.8 trillion investment for installing high-speed rail networks while expanding smart cities, which heightened demand levels.

Regional Insights

North America is expected to maintain a strong demand for structural steel, supported by investments in commercial real estate, public infrastructure, and renewable energy projects. The U.S. General Services Administration (GSA) dedicated a high number of investments to sustainable renovations of federal buildings that incorporate high-performance steel in environmentally friendly infrastructure projects. The increasing number of installed offshore wind farms throughout the Atlantic coast, in addition to solar energy facilities growing across Texas and California, creates an intensified demand for steel structures that must be sturdy and resistant to corrosion.

  • The Infrastructure Investment and Jobs Act (IIJA) generates demand from its USD 108 billion in specified funding, which allocates money toward road improvements, bridge repairs, and public transportation system enhancements. 
  • The Canadian government initiated its Green Buildings Strategy as a national priority in 2024, which established major commercial and residential operations to adopt low-carbon steel construction. 

Asia Pacific is projected to experience the fastest growth, fueled by rapid industrialization, smart city development, and strong government backing for sustainable construction. China, Japan, and South Korea are expanding their steel production capacities to meet growing demand. The combination of high-speed rail development and airport growth initiatives, along with next-generation skyscrapers, creates persistent demand for structural steel within the region.

  • The 14th Five-Year Plan of 2023 in China established green infrastructure improvement through the emphasis on utilizing high-strength and low-emission steel in major urban development projects. 
  • As part of its Carbon Neutrality by 2050 initiative, Japan directed steel manufacturers to develop hydrogen-based steel production for emission reductions.
Report Attribute Key Statistics
Market Revenue in 2025 USD 118.64 Billion
Market Revenue by 2033 USD 177.97 Billion
CAGR 5.20% from 2025 to 2033
Quantitative Units Revenue in USD million/billion, Volume in units
Largest Market North America
Base Year 2024
Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Market News

  • In August 2024, APL Apollo launched its Steel Building Solutions technology, continuing its tradition of innovation and revolutionizing the construction industry. To celebrate this development, the company invited top industry professionals to share their experiences and insights, particularly focusing on Tubular Technology.
  • In February 2025, ArcelorMittal announced plans to build an advanced non-grain-oriented electrical steel (NOES) manufacturing facility in Alabama. This new plant, which will be wholly owned by ArcelorMittal, is projected to produce up to 150,000 metric tons of NOES annually, depending on the product mix. 
  • In March 2024, JSW Steel of India announced the launch of a new blast furnace at its Dolvi steel plant in Maharashtra, with a production capacity of 4.5 million tons per year expected by 2026. This information was reported by S&P Global, citing technology provider SMS Group. Construction of the new blast furnace is anticipated to be completed by March 2026.

Structural Steel Market Companies

Recent Developments 

  • In August 2024, Stecol International Private Limited (SIPL) launched a new product called Essar Structural. This launch enhanced its offerings for the infrastructure industry and helped India realize Prime Minister Narendra Modi's vision of 'AatmaNirbhar Bharat'. This new product contributed to the nation's increasing need for structural steel for the rising infrastructure developments in the country. 
  • In August 2022, APL Apollo launched next-gen steel building solutions for structural steel tubes. 
  • In September 2024, Grippon Infrastructures introduced JSW's advanced Magsure coating for steel structures. Magsure features a superior aluminum, magnesium, and zinc coating on cold-rolled steel and sets a new benchmark in the steel structure industry.

U.S. Compounding Pharmacies Market Key Players

  • Triangle compounding pharmacy
  • Fagron
  • B. Braun melsungen ag
  • Fresenius kabi ag
  • Pencol Compounding Pharmacy
  • US Compounding Inc.
  • Avella specialty pharmacy
  • Institutional pharmacy solutions, llc
  • Pharmedium services llc
  • Vertisis custom pharmacy

Market Segmentation

By Product

  • High sectional steel
  • Light sectional steel
  • Rebar

By Application

  • Residential
  • Non-Residential
  • Industrial
  • Commercial
  • Institutional
  • Offices

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