Market Size of China Structural Steel Fabrication Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | > 3.50 % |
| Largest Market | Asia-Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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China Structural Steel Fabrication Market Analysis
The size of China's structural steel fabrication market is USD 110.7 billion in the current year and is anticipated to register a CAGR of over 3.5% during the forecast period. The Chinese construction sector was predicted to rise by 8.5% to CNY 9,508 billion (USD 13 Billion) by 2022.
- China now includes 1.2 billion tons of steel manufacturing capacity annually, with annual consumption averaging around 1 billion tons.
- Steel capacity in China, recognized by the country's Ministry of Industry and Information Technology, reached 1.3 billion tonnes annually. But steel demand is expected only to be around 1 billion tonnes for the current year.
- China's pig iron output in the current year reached 76.78 million metric tons, averaging 2.55 million metric tons/day, up 10.80% on the month, National Bureau of Statistics. According to the China Iron & Steel Association, China's steel-related consumption fell 9.5% year on year to 235 million metric tons in the first quarter of 2022.
- China's crude steel production in the current year was still 5.20% lower on year at 92.78 million metric tons, but the daily output rose 8.60% on the month to 3.09 million metric tons, breaching the 3 million metric tons level for the first time since July 2021.
- China's pig iron and crude steel output in the first four months totaled 280.30 million metric tons and 336.15 million metric tons, still 9.40% and 10.30% lower on the year, respectively, according to the NBS data.
