Global Structural Steel Market Market Share
The market for structural steel was valued at US$ 104.7 billion globally in 2020 and is projected to grow at a compound annual growth rate (CAGR) of 5.3% to reach US$ 174.80 billion by 2030. The regions comprising the worldwide structural steel market are Latin America, North America, Europe, Asia Pacific, the Middle East, and Africa. The construction industry in Asia-Pacific has had tremendous industrial growth and technological advancements, which has led to the region holding the greatest share of the structural steel market. Due to the growing usage of structural steel for the construction of residential and non-residential structures in the region, North America and Europe are likely to see moderate growth over the course of the forecast period, with Latin America and the Middle East & Africa following closely behind.