Steel Framing in the US
During the early economic recovery, the Steel Framing industry downsized as operators attempted to recover their profit amid tepid recovery in nonresidential construction. However, demand for industry services largely rebounded over the five years to 2019 as backlogged nonresidential construction projects returned to the forefront. Consequently, the industry experienced an upward trajectory as nonresidential construction activity, which accounts for the overwhelming majority of industry revenue, expanded across most markets. Over the next five years to 2024, sustained growth in the industry's downstream construction markets and renewed investment in infrastructure (e.g. bridges, tunnels and highways) will support the industry's expansion. However, an anticipated annualized increase in the price of steel during the outlook period, partially attributed to steel tariffs recently imposed by the Trump Administration, is expected to pressure profitability growth for steel framers.
This industry comprises contractors that install steel and precast concrete to produce structural elements, building exteriors and elevator fronts. The industry also includes the installation of other steel products (e.g. setting rods, bars, rebar, mesh and cages) to reinforce poured-in-place concrete, cooling towers and metal storage tanks. The structural steel erection work performed includes new work, additions, alterations, reconstruction, maintenance and repairs.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook