Structural Steel Market Report 2026

The structural steel market size has grown strongly in recent years. It will grow from $115.82 billion in 2025 to $122.93 billion in 2026 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to urbanization growth, expansion of industrial buildings, availability of iron ore, government infrastructure spending, demand for durable construction materials.

The structural steel market size is expected to see strong growth in the next few years. It will grow to $154.05 billion in 2030 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to smart city projects, green building initiatives, growth in modular construction, technological advances in steel processing, increased private sector investments. Major trends in the forecast period include rising demand from infrastructure development, growing use of prefabricated steel structures, expansion of high strength steel applications, increasing adoption in commercial construction, focus on sustainable steel production.

The rise in construction of residential and commercial infrastructure is expected to boost the growth of the structural steel market. Residential and commercial infrastructure encompasses the buildings and facilities that support housing and business activities, including homes, apartments, offices, retail spaces, and other essential structures. The growth in this sector is driven by smart city initiatives, strategic infrastructure planning, affordable housing projects, and sustainability efforts led by government bodies. Structural steel is crucial for these projects due to its strength and versatility, providing essential support and stability for building frameworks and large-scale construction efforts. For example, the US Census Bureau reported in August 2024 that the value of construction operations for residential projects in the US increased from $875.5 billion in June 2023 to $939.8 billion in June 2024, a 7.3% rise. Similarly, the value of non-residential construction operations grew from $1.15 trillion in June 2023 to $1.21 trillion in June 2024, a 5.3% increase. Thus, the growing construction of residential and commercial infrastructure is driving the expansion of the structural steel market.

Major companies operating in the structural steel market are emphasizing innovation in sustainable steel production, such as zero fossil-carbon emission solutions, to reduce environmental impact and support climate-neutral construction. Zero fossil-carbon emissions refer to the production of steel without generating fossil-derived operational carbon dioxide, typically achieved by using recycled steel and fossil-free energy sources. For instance, in March 2023, SSAB AB, a Sweden-based steel manufacturer, introduced SSAB Zero, a fossil-carbon-emission-free steel produced from recycled steel and fossil-free electricity without the use of carbon offsets. This innovative product delivers high-quality steel with mechanical performance comparable to conventional SSAB steels while significantly lowering operational emissions, representing a major advancement in sustainable steel technology.

In May 2024, Lainco Inc., a Canada-based structural project management firm, acquired Charpentes D'Acier Sofab Inc. for an undisclosed amount. This acquisition aims to position Lainco for continued success and growth in the structural steel sector, enhancing its ability to offer innovative solutions and maintain high service standards for a wider customer base. Charpentes D'Acier Sofab Inc. is a structural steel manufacturing company based in Canada.

Major companies operating in the structural steel market are Severstal, ArcelorMittal, POSCO, China Baowu, Nippon Steel, Thyssenkrupp, Nucor, JFE Steel, Tata Steel, U.S. Steel, JSW Steel, HBIS, Hyundai Steel, Ansteel, Voestalpine, Jiangsu Shagang, Gerdau, Evraz, SAIL, SSAB, British Steel.

Asia-Pacific was the largest region in the structural steel market in 2025. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the structural steel market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the structural steel market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The structural steel market consists of sales of carbon steel, high-strength carbon steel, weathering steel, and fire-resistant steel. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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