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As of 2023, the global structural steel market was valued at approximately $117.12 billion and is projected to grow at a compound annual growth rate (CAGR) of 5.9% from 2024 to 2030. This growth is driven by increasing infrastructural developments worldwide.
In the United States, the structural steel market was estimated at $28 billion in 2023. The U.S. metal fabrication market, which includes structural metal products, was valued at $362.4 billion in 2020 and is expected to surpass $473.7 billion by 2031.
China Baowu Steel Group: As of 2023, it stands as the largest steel producer globally, with an annual production of 130.77 million metric tons. ArcelorMittal: Headquartered in Luxembourg, it produced 68.52 million metric tons of steel in 2023, making it the second-largest producer worldwide. Ansteel Group: This Chinese conglomerate produced 55.89 million metric tons of steel in 2023, securing its position as the third-largest producer.
For more information, visit globalsteelconstruction.
In the United States, the structural steel market was estimated at $28 billion in 2023. The U.S. metal fabrication market, which includes structural metal products, was valued at $362.4 billion in 2020 and is expected to surpass $473.7 billion by 2031.
China Baowu Steel Group: As of 2023, it stands as the largest steel producer globally, with an annual production of 130.77 million metric tons. ArcelorMittal: Headquartered in Luxembourg, it produced 68.52 million metric tons of steel in 2023, making it the second-largest producer worldwide. Ansteel Group: This Chinese conglomerate produced 55.89 million metric tons of steel in 2023, securing its position as the third-largest producer.
For more information, visit globalsteelconstruction.