| Study Period | 2020 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Historical Data Period | 2020 - 2023 |
| CAGR | 5.83 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
North America Structural Steel Fabrication Market Analysis
The North America Structural Steel Fabrication Market is expected to register a CAGR of 5.83% 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 the first half of 2022, total crude steel production in North America fell by around 2.3% compared to the same time the previous year (henceforth, year-on-year), mostly due to decreases in output in the United States (-2.2%) and Canada (-4.2%). Mexico's steel output fell more gradually (-1.0%). High energy prices that impacted steel makers in Europe had less of an impact on steel producers in North America.
North America Structural Steel Fabrication Market Trends
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.
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Rising Demand from the 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 at a CAGR of more than 3% during the forecast period. Furthermore, 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 ten 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.
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North America Structural Steel Fabrication Industry Overview
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 Leaders
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High Industries Inc.
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SME Industries Inc.
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Whitemud Ironworks Limited
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Farr Installations Ltd
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Marid Industries Limited
- *Disclaimer: Major Players sorted in no particular order
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North America Structural Steel Fabrication Market News
Jun 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.
Apr 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 Industry Segmentation
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). The report offers the market size in value terms in USD for all the abovementioned segments.
| 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 Research FAQs
What is the current North America Structural Steel Fabrication Market size?
The North America Structural Steel Fabrication Market is projected to register a CAGR of 5.83% during the forecast period (2025-2030)
Who are the key players in North America Structural Steel Fabrication Market?
High Industries Inc., SME Industries Inc., Whitemud Ironworks Limited, Farr Installations Ltd and Marid Industries Limited are the major companies operating in the North America Structural Steel Fabrication Market.
What years does this North America Structural Steel Fabrication Market cover?
The report covers the North America Structural Steel Fabrication Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the North America Structural Steel Fabrication Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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North America Structural Steel Fabrication Industry Report
The North America Structural Steel Fabrication Market is segmented by end-user industries, including manufacturing, power and energy, construction, oil and gas, among others. The market is also categorized by product types such as heavy sectional steel, light sectional steel, and other product types. This industry report offers a comprehensive market overview and includes detailed market segmentation and market analysis.
The industry analysis provides insights into the market size, market share, and market growth. It also highlights the market trends, market leaders, and market forecast for the coming years. The report includes industry statistics and industry information, which are crucial for understanding the market value and market outlook.
Additionally, the report example and report pdf are available for further reference. The industry research and industry reports compiled offer a thorough industry review and industry outlook. The market data and market predictions are essential for companies looking to understand the market dynamics and make informed decisions.
Overall, this research provides an in-depth look at the North America Structural Steel Fabrication Market, including its growth rate, industry sales, and market growth. The industry trends and market segmentation are crucial for identifying opportunities and challenges within the market.
