The structural steel fabrication market may continue climbing the growth ladder during the forecast period of 2017-2026. Structural steel is used in a plethora of applications ranging from the automotive industry, construction industry, electronics industry, etc. Fabrication involves processes such as machining, welding, shearing, bending, cutting, and steel assembling. In short, structural steel fabrication is the process of shaping the steel to make a product that caters to a specific sector. Iron and steel manufacturers, value-added resellers, and building contractors prominently avail the services of structural steel fabricators.
Rapid Urbanization to Play an Important Role
Rapid urbanization has immensely expanded over the years. Due to urbanization, there has been a rise in the number of high-rise buildings, skyscrapers, and other construction types. Therefore, as urbanization rapidly increases, the number of construction projects increase. This, in turn, will influence the growth rate of the structural steel fabrication market. In addition, considerable growth in industrial development and the availability of skilled fabricators and welders are creating more opportunities for growth.
Growing awareness about fabrication and flexibility in construction materials may have a positive effect on the structural steel fabrication market.Redevelopment projects in various cities are also expected to boost the growth rate. A large number of buildings are in dilapidating conditions. They are demolished and new buildings are created in the space. This may prove to be a vital growth factor for the structural steel fabrication market.
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Technological advancement is the crux of any sector’s growth and the structural steel fabrication market is no exception. Fabricators are coming up with innovations to expand their production rate. A switch to robot usage instead of workers in the production process can be expected as a growing trend in the structural steel fabrication market. This enables an increase in efficiency and scaling up the production process.