The global steel structure market is expected to grow at an annual rate of 8% to 10% over the next few years, reaching approximately US$800 billion by 2030. China, the world's largest producer and consumer of steel structures, has a market size exceeding US$200 billion and is expected to exceed US$400 billion by 2030, accounting for over 30% of the global market share.
Steel structures will expand beyond traditional factory and building construction to include bridges, urban pipeline corridors, underground passages, power equipment, and marine equipment. New industries such as offshore photovoltaic platforms and the West-East Gas Pipeline project will also generate new demand. Within the construction sector, the proportion of steel structure residential buildings will gradually increase. With the acceleration of urbanization and the advancement of infrastructure construction, their application in high-rise and super-high-rise buildings will become even more extensive.
Light Steel Structure House, High-strength Steel Structure School Building, Customized Steel Structure Warehouse, and Intelligent Manufacturing are the current key development directions in the steel structure industry. Companies are increasing their investment in technological research and development, implementing advanced manufacturing technologies and information management systems to achieve intelligent manufacturing and improve production efficiency and product quality. For example, leading companies such as Baowu Steel and Royal Steel Group have begun large-scale research and development and application of new materials such as high-strength steel and weathering steel. The market penetration of these materials is expected to exceed 35% by 2028.
The current concentration of the steel structure industry is relatively low. In the future, some companies that lack innovation and are weak in strength will be gradually eliminated. Large-scale steel structure manufacturing companies with industry integration capabilities and energy conservation and low consumption will gain more market share, and the industry concentration will gradually increase.
The booming steel structure market presents Royal Steel with numerous favorable opportunities. The global steel structure market is projected to reach approximately $800 billion by 2030, with China's market share expected to exceed 30%. The company's high-quality products, such as its hot-rolled H-beams with excellent strength-to-weight ratio, meet the structural requirements of various projects. As steel structure applications expand into bridges, urban pipeline corridors, and marine equipment, new business models are creating new demands. Royal Steel's extensive product line, encompassing various specifications of carbon steel rebar, fully meets the diverse needs of diverse sectors and customers. Furthermore, amidst industry consolidation and increasing concentration, Royal Steel's unique advantages will help it stand out from the competition and capture greater market share.
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