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
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| 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:
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By Service: |
Metal Welding
Machining
Metal Forming
Metal Cutting
Metal Shearing
Metal Folding
Metal Rolling
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|
By End-Use Industry: |
Construction
Automotive
Manufacturing
Energy and Power
Electronics
|
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By Region: |
Canada
Mexico
United States
Rest of North America
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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 report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the North America Structural Steel Fabrication Market.
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. North America Structural Steel Fabrication Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. 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, 2020-2026
7.2. North America Structural Steel Fabrication Market Size, Share and Forecast, By Service, 2027-2033
7.3. Metal Welding
7.4. Machining
7.5. Metal Forming
7.6. Metal Cutting
7.7. Metal Shearing
7.8. Metal Folding
7.9. 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, 2020-2026
8.2. North America Structural Steel Fabrication Market Size, Share and Forecast, By End-Use Industry, 2027-2033
8.3. Construction
8.4. Automotive
8.5. Manufacturing
8.6. Energy and Power
8.7. 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 America
10.3.1. Canada
10.3.2. Mexico
10.3.3. United States
10.3.4. Rest of North America
11. Company Profile
11.1. Helander
11.1.1. Company details
11.1.2. Financial outlook
11.1.3. Product summary
11.1.4. Recent developments
11.2. O’Neal Manufacturing
11.2.1. Company details
11.2.2. Financial outlook
11.2.3. Product summary
11.2.4. Recent developments
11.3. BTD Manufacturing Inc.
11.3.1. Company details
11.3.2. Financial outlook
11.3.3. Product summary
11.3.4. Recent developments
11.4. Kapco Metal Stamping
11.4.1. Company details
11.4.2. Financial outlook
11.4.3. Product summary
11.4.4. Recent developments
11.5. Canadian Metal Fabricators Ltd.
11.5.1. Company details
11.5.2. Financial outlook
11.5.3. Product summary
11.5.4. Recent developments
11.6. Ballman Metals
11.6.1. Company details
11.6.2. Financial outlook
11.6.3. Product summary
11.6.4. Recent developments
11.7. Schaumberg Specialties Ltd.
11.7.1. Company details
11.7.2. Financial outlook
11.7.3. Product summary
11.7.4. Recent developments
11.8. Mayville Engineering.
11.8.1. Company details
11.8.2. Financial outlook
11.8.3. Product summary
11.8.4. Recent developments
11.9. Miro Manufacturing Inc.
11.9.1. Company details
11.9.2. Financial outlook
11.9.3. Product summary
11.9.4. Recent developments
11.10. Matcor-Matsu Group Inc.
11.10.1. Company details
11.10.2. Financial outlook
11.10.3. Product summary
11.10.4. Recent developments
11.11. Others
12. Conclusion
13. List of Abbreviations
14. Reference Links