NORTH AMERICA STRUCTURAL STEEL FABRICATION MARKET - GROWTH, TRENDS, COVID-19 IMPACT, AND FORECASTS (2023 - 2028)

North America Structural Steel Fabrication Market is Segmented by End-user Industries (Manufacturing, Power and Energy, Construction, Oil and Gas, and Other End-user Industries) and Product Types (Heavy Sectional Steel, Light Sectional Steel, and Other Product Types). The report offers the market sizes and forecasts in value (USD billion) for all the above segments.

North America Structural Steel Fabrication Industry Overview

North America Structural Steel Fabrication Market Summary
Study Period: 2018-2027
CAGR: > 3.4 %

Major Players

North America Structural Steel Fabrication Market Major Players

*Disclaimer: Major Players sorted in no particular order

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North America Structural Steel Fabrication Market Analysis

The North American structural steel fabrication market is expected to register a CAGR of approximately 3.4% during the forecast period. The COVID-19 pandemic had a negative impact on the structural steel market. After the pandemic, the industry is expected to recover due to rapid urbanization and the growing need for wise use of existing spaces.

The United States is the largest market for structural steel fabrication in North America. The US market for structural steel fabrication is anticipated to grow during the forecast period due to technological advancements in the industry. The metal fabrication business makes use of a variety of ERP tools and software. This facilitates data accessibility and speeds up the fabrication industry's decision-making process. The use of computer-aided manufacturing (CAM) technology is growing, which benefits the production and operational efficiency of the structural steel fabrication sector.

Due to the expansion of public sector investments in residential buildings and non-residential structures, the construction industry in the United States has been seeing tremendous growth. Additionally, the easing of trade tensions and the expansion of the American economy are major drivers of investments in the nation's building industry.

In 2021, structural steel accounted for more than 50% of structural framing material for buildings in the United States for non-residential and multi-story residential construction. Also, in 2021, non-residential construction represented 45% of the overall demand for structural steel, with each point of market share being equivalent to 50,000 tons of structural steel. Similarly, non-structural applications such as rack systems, marine applications, trailers, transportation, and mobile homes comprise 18% of the overall demand for structural products.

North America Structural Steel Fabrication Industry Segments

Structural steel fabrication is the process of bending, cutting, and modeling steel to form structures. Structural steel manufacturing involves assembling billets to create a variety of structures, usually of predefined sizes and shapes.

This report aims to provide a detailed analysis of the North American structural steel fabrication market. It focuses on market dynamics, technological trends, and insights into various end-user industries and product types. Also, it analyses the major players and the competitive landscape in the North American structural steel fabrication market.

The market is segmented by end-user industries (manufacturing, power and energy, construction, oil and gas, and other end-user industries) and product types (heavy sectional steel, light sectional steel, and other product types).

By End-user Industry
Manufacturing
Power and Energy
Construction
Oil and Gas
Other End-user Industries
By Product Type
Heavy Sectional Steel
Light Sectional Steel
Other Product Types

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North America Structural Steel Fabrication Market Trends

This section covers the major market trends shaping the North America Structural Steel Fabrication Market according to our research experts:

Increased Use of Blockchain, Internet of Things, and Industry 5.0:

Blockchain is most often described as a digital ledger distributed on a network. While digital information may be distributed on the network, it may not be copied. That means each piece of data can only have one owner. The information is regularly updated and reconciled to be as up-to-date and accurate as possible.

Blockchain can work to verify vendors and validate their part in the manufacturing process for a manufacturer. A blockchain can be used to track raw materials supplied to manufacturers. However, they can be a part of a blockchain in providing confidence, value, and accountability for a manufacturer to whom they are supplying parts.

While the Internet of Things and Industry 5.0 is pushing man and machine closer together through digital technology, blockchain is more focused on validating the identities and efforts of those involved. It can be considered online digital accounting to a certain extent if verified by stakeholders. It adds a new layer of trust to data that may be used as a more powerful fuel in pushing the Internet of Things and Industry 5.0 forward.

North America Structural Steel Fabrication Market: Steel Production in United States, 2017-2021 (in million metric tons)

Rising Demand from Construction Sector in the United States and Canada

In the United States, fabricated and erected structural steel framing was fabricated for more than 18,000 buildings, bridges, and industrial facilities through a network of producers, service centers, steel fabricators, and erectors in 2021.

The US structural steel fabrication market is estimated to be more than USD 45 billion by 2027. It is expected to register a CAGR of more than 3% during the forecast period. Further, the US structural steel market for commercial applications is expected to increase by more than 5% during the forecast period. Thus, the demand for prefabricated buildings has led to increased consumption of steel structures in the country.

The demand for structural steel and prefabricated buildings is gaining traction in Canada. The construction sector in Canada is one of the major end-user segments that contribute significantly to the growth of structural steel fabrication in the country. There were 252 big infrastructure projects worth more than USD 25 million in development in 2022. The skyscrapers constructed in the past 10 years in major Canadian cities are evidence that construction projects have become more valuable. In general, Canada's construction sector plays a significant role in the growth of the structural steel fabrication market.

North America Structural Steel Fabrication Market: Construction Spending in United States, in Billion USD, 2017-2021

North America Structural Steel Fabrication Market Competitor Analysis

The report covers the major players, namely High Industries Inc., SME Industries Inc., Whitemud Ironworks Limited, and Farr Installations Ltd, among others, operating in the North American structural steel fabrication market. In terms of market share, the large players in the region compete with each other to gain a major share as the market is largely occupied by small and medium-sized players. Hence, the market is highly competitive and fragmented.

North America Structural Steel Fabrication Market Top Players

  1. High Industries Inc.

  2. SME Industries Inc.

  3. Whitemud Ironworks Limited

  4. Farr Installations Ltd

  5. Marid Industries Limited

*Disclaimer: Major Players sorted in no particular order

North America Structural Steel Fabrication Market Concentration

North America Structural Steel Fabrication Market Recent Developments

June 2022: Vancouver-based BM Group acquired LE Steel Fabricators Ltd. This acquisition will give them the opportunity to enter an existing sector from a different angle while carrying out more substantial repair and restoration operations. Additionally, BM Group's clients benefit from cost reductions, efficiency, and other advantages as a result of its strong financial position and varied portfolio of companies.

April 2022: Terex announced the acquisition of Steelweld, a large parts manufacturer based in Northern Ireland. The acquisition of Steelweld will support Materials Processing's growth strategy by increasing its manufacturing capacity in Northern Ireland.

North America Structural Steel Fabrication Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

    1. 2.1 Analysis Methodology

    2. 2.2 Research Phases

  3. 3. MARKET INSIGHTS AND DYNAMICS

    1. 3.1 Market Overview

    2. 3.2 Market Dynamics

      1. 3.2.1 Market Drivers

      2. 3.2.2 Market Restraints

      3. 3.2.3 Market Opportunities

    3. 3.3 Value Chain / Supply Chain Analysis

    4. 3.4 Industry Attractiveness - Porter's Five Force Analysis

      1. 3.4.1 Threat of New Entrants

      2. 3.4.2 Bargaining Power of Buyers/Consumers

      3. 3.4.3 Bargaining Power of Suppliers

      4. 3.4.4 Threat of Substitute Products

      5. 3.4.5 Intensity of Competitive Rivalry

    5. 3.5 Technological Innovations in the Market

    6. 3.6 Government Regulations and Key Initiatives

    7. 3.7 Impact of COVID-19 on the Market

  4. 4. MARKET SEGMENTATION

    1. 4.1 By End-user Industry

      1. 4.1.1 Manufacturing

      2. 4.1.2 Power and Energy

      3. 4.1.3 Construction

      4. 4.1.4 Oil and Gas

      5. 4.1.5 Other End-user Industries

    2. 4.2 By Product Type

      1. 4.2.1 Heavy Sectional Steel

      2. 4.2.2 Light Sectional Steel

      3. 4.2.3 Other Product Types

  5. 5. COMPETITVE LANDSCAPE

    1. 5.1 Market Competition Overview

    2. 5.2 Key Company Profiles

      1. 5.2.1 High Industries Inc.

      2. 5.2.2 SME Industries Inc.

      3. 5.2.3 Whitemud Ironworks Group Inc.

      4. 5.2.4 Farr Installations Ltd

      5. 5.2.5 Marid Industries Limited

      6. 5.2.6 Postensados y Disenos de Estructuras S.A. de C.V.

      7. 5.2.7 Gimsa Division Industrial S.A. de C.V.

      8. 5.2.8 B & H Structures Co. Ltd

      9. 5.2.9 Fabricado de Acero Estructural, S.A.

      10. 5.2.10 Metalurgica Industrial y Construccion S.A.

      11. 5.2.11 Valmont Industries Inc.

      12. 5.2.12 Cornerstone Building Brands Inc.

      13. 5.2.13 DBM Global

      14. 5.2.14 Groupe Canam Inc

      15. 5.2.15 Sabre Industries Inc.*

  6. 6. INVESTMENT ANALYSIS

  7. 7. FUTURE OF THE MARKET

  8. 8. APPENDIX

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North America Structural Steel Fabrication Market Research FAQs

The North America Structural Steel Fabrication Market market is studied from 2018 - 2027.

The North America Structural Steel Fabrication Market is growing at a CAGR of >3.4% over the next 5 years.

High Industries Inc., SME Industries Inc., Whitemud Ironworks Limited, Farr Installations Ltd, Marid Industries Limited are the major companies operating in North America Structural Steel Fabrication Market.

North America Structural Steel Fabrication Industry Reports

In-depth industry statistics and market share insights of the North America Structural Steel Fabrication sector for 2020, 2021, and 2022. The North America Structural Steel Fabrication research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the North America Structural Steel Fabrication report PDF.

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