North America Structural Steel Fabrication Market Growth, Size, Trends, Share and Future Outlook
North America Structural Steel Fabrication Market Size- By Service, By End User Industry- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Jun-2024 | Report ID: COAM2426 | Pages: 1 - 153 | Formats*: |
| Category : Construction & Manufacturing | |||
North America Structural Steel Fabrication Market Introduction and Overview
According to SPER Market Research, the North America Structural Steel Fabrication Market is estimated to reach USD 24.10 billion by 2033 with a CAGR of 3.0%.
The report includes an in-depth analysis of the North America Structural Steel Fabrication Market, including market size and trends, product mix, applications, and supplier analysis. Structural steel fabrication is the process of making structural steel components by cutting, bending, welding, and assembling various steel pieces. It is a critical component in construction, providing a strong and versatile solution for frames, bridges, and industrial structures. This fabrication technology converts raw steel resources into precisely manufactured components, ensuring accurate fit and alignment during assembly. Its advantages stem from its high strength-to-weight ratio, which allows for the construction of large and intricate structures capable of withstanding enormous loads and extreme weather conditions. There are several forms of structural steel fabrication, including common structural shapes like I-beams and H-columns, as well as custom-fabricated components adapted to the project specifications.
- Jun 2022; The Vancouver-based BM Group purchased LE Steel Fabricators Ltd. This acquisition will allow them to penetrate an existing industry from a new perspective while carrying out larger repair and restoration operations. Furthermore, BM Group's clients benefit from cost savings, increased efficiency, and other benefits as a result of its strong financial position and diverse portfolio of firms.
- April 2022; Terex has announced the acquisition of Steelweld, a significant parts producer headquartered in Northern Ireland. The acquisition of Steelweld will help Materials Processing's expansion goal by expanding its manufacturing capacity in Northern Ireland.
Market Opportunities and Challenges
Growing housing needs, as a result of the increasing population in the North America, are among the primary factors boosting product demand. Structural steel is considered a green construction material because of its recyclability, and hence, an increasing number of green buildings is expected to boost market expansion in the future years. Another major driver of the structural steel market is the growing number of high-rise structures being built. The product has a high strength-to-weight ratio, allowing it to withstand huge loads while resisting compression, tension, and bending forces, making it a suitable material for bearing the weight of tall structures and transferring the load to the base.
The market's growth is projected to be hampered by a lack of awareness about the benefits of structural steel in the construction industry. The structural steel industry is projected to face challenges throughout the forecast period due to a lack of technological expertise. The market does have limitations when it comes to supply. The cost of steel has been volatile on an ongoing basis in North America, as of the costs of raw materials such as iron, coal, and scrap. Any disturbance in the supply and demand balance causes significant volatility in prices. The costs of manufacturing determine prices and availability of storage, the two of which are having an immediate influence on construction steel costs.
Market Competitive Landscape
The market is dominated by small and medium-sized businesses, making it extremely competitive and fragmented. As a result, enterprises in the region compete aggressively for a restricted market share. The major players in the market are Helander, O’Neal Manufacturing, BTD Manufacturing Inc., Kapco Metal Stamping, Canadian Metal Fabricators Ltd., Ballman Metals, Schaumberg Specialties Ltd., Mayville Engineering, Miro Manufacturing Inc., Matcor-Matsu Group Inc., Others
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Service, By End Use Industry |
| Regions covered | Canada, Mexico, United States, Rest of North America |
| Companies Covered | Helander, O’Neal Manufacturing, BTD Manufacturing Inc., Kapco Metal Stamping, Canadian Metal Fabricators Ltd., Ballman Metals, Schaumberg Specialties Ltd., Mayville Engineering, Miro Manufacturing Inc., Matcor-Matsu Group Inc |
COVID-19 Impact on North America Structural Steel Fabrication Market
The COVID-19 pandemic impacted supply networks in the North American structural steel manufacturing business. Lockdowns and limitations caused delays in the transit of raw materials and components, slowing production. Steel mills worked at decreased capacity, while border controls further hampered the supply of critical commodities. These disruptions led to longer lead times and higher prices, making it difficult for fabricators to achieve project deadlines. Many businesses had to rethink their supply chain strategy, looking for local suppliers and alternative sources to reduce risks and assure operational continuity.
Key Target Audience:
- Construction Companies
- Architects and Engineers
- Government and Regulatory Bodies
- Real Estate Developers
- Manufacturers and Industrial Plants
- Renewable Energy Companies
Our in-depth analysis of the North America Structural Steel Fabrication Market includes the following segments:
| By Service: |
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| By End-Use Industry: |
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| By Region: |
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Key Topics Covered in the Report:
- North America Structural Steel Fabrication Market Size (FY’2024-FY’2033)
- Overview of North America Structural Steel Fabrication Market
- Segmentation of North America Structural Steel Fabrication Market By Service (Metal Welding, Machining, Metal Forming, Metal Cutting, Metal Shearing, Metal Folding, Metal Rolling)
- Segmentation of North America Structural Steel Fabrication Market By End-Use Industry (Construction, Automotive, Manufacturing, Energy and Power Electronics)
- Statistical Snap of North America Structural Steel Fabrication Market
- Expansion Analysis of North America Structural Steel Fabrication Market
- Problems and Obstacles in North America Structural Steel Fabrication Market
- Competitive Landscape in the North America Structural Steel Fabrication Market
- Impact of COVID-19 and Demonetization on North America Structural Steel Fabrication Market
- Details on Current Investment in North America Structural Steel Fabrication Market
- Competitive Analysis of North America Structural Steel Fabrication Market
- Prominent Players in the North America Structural Steel Fabrication Market
- SWOT Analysis of North America Structural Steel Fabrication Market
- North America Structural Steel Fabrication Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s2.2. Market size estimation2.2.1. Top-down and Bottom-up approach2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges4.2. COVID-19 Impacts of the North America Structural Steel Fabrication Market.
5. Market variable and outlook
5.1. SWOT Analysis5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats5.2. PESTEL Analysis5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape5.3. PORTER’s Five Forces5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry5.4. Heat Map Analysis
6. Competitive Landscape
6.1. North America Structural Steel Fabrication Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in North America Structural Steel Fabrication Market
7. North America Structural Steel Fabrication Market, By Service (USD Million) 2020-2033
7.1. North America Structural Steel Fabrication Market Size, Share and Forecast, By Service, 2020-20267.2. North America Structural Steel Fabrication Market Size, Share and Forecast, By Service, 2027-20337.3. Metal Welding7.4. Machining7.5. Metal Forming7.6. Metal Cutting7.7. Metal Shearing7.8. Metal Folding7.9. Metal Rolling
8. North America Structural Steel Fabrication Market, By End-Use Industry (USD Million) 2020-2033
8.1. North America Structural Steel Fabrication Market Size, Share and Forecast, By End-Use Industry, 2020-20268.2. North America Structural Steel Fabrication Market Size, Share and Forecast, By End-Use Industry, 2027-20338.3. Construction8.4. Automotive8.5. Manufacturing8.6. Energy and Power8.7. Electronics
9. North America Structural Steel Fabrication Market Forecast, 2020-2033 (USD Million)
9.1. North America Structural Steel Fabrication Market Size and Market Share
10. North America Structural Steel Fabrication Market, By Region, 2020-2033 (USD Million)
10.1. North America Structural Steel Fabrication Market Size and Market Share By Region (2020-2026)10.2. North America Structural Steel Fabrication Market Size and Market Share By Region (2027-2033)10.3. North America10.3.1. Canada10.3.2. Mexico10.3.3. United States10.3.4. Rest of North America
11. Company Profile
11.1. Helander11.1.1. Company details11.1.2. Financial outlook11.1.3. Product summary11.1.4. Recent developments11.2. O’Neal Manufacturing11.2.1. Company details11.2.2. Financial outlook11.2.3. Product summary11.2.4. Recent developments11.3. BTD Manufacturing Inc.11.3.1. Company details11.3.2. Financial outlook11.3.3. Product summary11.3.4. Recent developments11.4. Kapco Metal Stamping11.4.1. Company details11.4.2. Financial outlook11.4.3. Product summary11.4.4. Recent developments11.5. Canadian Metal Fabricators Ltd.11.5.1. Company details11.5.2. Financial outlook11.5.3. Product summary11.5.4. Recent developments11.6. Ballman Metals11.6.1. Company details11.6.2. Financial outlook11.6.3. Product summary11.6.4. Recent developments11.7. Schaumberg Specialties Ltd.11.7.1. Company details11.7.2. Financial outlook11.7.3. Product summary11.7.4. Recent developments11.8. Mayville Engineering.11.8.1. Company details11.8.2. Financial outlook11.8.3. Product summary11.8.4. Recent developments11.9. Miro Manufacturing Inc.11.9.1. Company details11.9.2. Financial outlook11.9.3. Product summary11.9.4. Recent developments11.10. Matcor-Matsu Group Inc.11.10.1. Company details11.10.2. Financial outlook11.10.3. Product summary11.10.4. Recent developments11.11. Others
12. Conclusion
13. List of Abbreviations
14. Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
North America Structural Steel Fabrication Market grew in market size from 2023. The Market is expected to reach USD 24.10 billion by 2033, at a CAGR of 3.0% during the forecast period.
North America Structural Steel Fabrication Market CAGR of 3.0% during the forecast period.
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North America Structural Steel Fabrication Market size is USD 24.10 billion from 2024 to 2033.
North America Structural Steel Fabrication Market segment is Covered By Service, By End Use Industry.
The North America region is anticipated to have the highest market share in the North America Structural Steel Fabrication Market.
Helander, O’Neal Manufacturing, BTD Manufacturing Inc., Kapco Metal Stamping, Canadian Metal Fabricators Ltd., Ballman Metals, Schaumberg Specialties Ltd., Mayville Engineering, Miro Manufacturing Inc., Matcor-Matsu Group Inc
Growing housing needs, as a result of the increasing population in the North America, are among the primary factors boosting product demand. Structural steel is considered a green construction material because of its recyclability, and hence, an increasing number of green buildings is expected to boost market expansion in the future years.
North America Structural Steel Fabrication Market is projected to reach USD 24.10 billion by 2033, growing at a CAGR of 3.0% during the forecast period.
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