Scaling back: A current slump in high-rise apartment building weakens industry performance

Structural steel is an integral part of many construction projects, with steel framing used to support walls and roofs on buildings, while steel reinforcement is used to strengthen concrete foundations and for the production of tilt walls. Steel erection services are generally undertaken by industry contractors in competition with skilled tradespeople working for the prime construction firms. The industry consists of many small-scale contracting firms that operate in narrow regional or niche service markets.The Structural Steel Erection Services industry has been influenced by widely divergent trends in the key building and infrastructure markets over the past five years...read more.

Industry Statistics & Market Size
Revenue
$4bn
Annual Growth 13-18
-2.5%
Forecast Growth 18-23
Profit
Employment
14,400
Businesses
3,970
Market Share of Companies
There are no companies with a dominant market share in this industry

Industry Threats & Opportunities

  • The current slump in steel erection work on high-rise apartments is driving down demand
  • The recent slump in infrastructure and apartment projects have led to poor industry performance
  • Growth in the non-residential building markets will continue to support demand for industry services
  • Industry Report - Industry Locations Chapter

    The small-scale and localised nature of the industry’s operations result in a geographically dispersed industry structure. Industry activity is concentrated in major urban and industrial areas, though a large number of participants operate in isolated agricultural and mining regions. Enterprises operating on mining construction projects have greater mobility between remote regions.Small-scale businesses tend to limit operations to a narrow regional market but may undertake a broad range of activities, including construction, manufacturing, crane hire and maintenance work. Large-scale labour agencies operate in all state capitals and have specialist branches near centres of steelwork maintenance activity. Thi...purchase to read more.

    Additional Insights for the Structural Steel Erection Services Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Structural Steel Erection Services Industry are

  • Having a good reputation
  • Having contacts within key markets
  • Having a high profile in the market
  • IBISWorld analysts also discuss how external factors such as Demand from commercial and industrial building construction and Demand from heavy industry and other non-building construction in the Structural Steel Erection Services industry impact industry performance..

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    What's in this report

    What is the Structural Steel Erection Services Industry?

    Companies in this industry are engaged in the erection (including on-site fabrication) of metal silos, storage tanks or structural steel components for buildings or other structures such as bridges, overhead cranes and electricity transmission towers.

    Industry Products
  • Welding work and fabrication
  • Assembly work
  • Maintenance and repair
  • Industry Activities
  • Welding work on construction projects
  • Reinforcing steel erection
  • Joining structural steel components, such as trusses
  • Erection and maintenance of storage tanks (including silos) and cooling towers
  • Erection and maintenance of metal and structural steel on buildings
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Demand from commercial and industrial building construction
  • Demand from heavy industry and other non-building construction
  • Actual capital expenditure on mining
  • Demand from institutional building construction
  • Demand from multi-unit apartment and townhouse construction
  • year bond rate

  • Current Performance
  • Commercial construction recovery
  • Strong infrastructure markets
  • Apartment construction growth
  • Chart: Revenue Growth

  • Industry Outlook
  • Building and infrastructure markets
  • Profit and job growth
  • Table: Structural Steel Erection Services Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Structural Steel Erection Services Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Mining
  • Electricity, Gas, Water and Waste Services
  • Multi-Unit Apartment and Townhouse Construction
  • Heavy Industry and Other Non-Building Construction
  • Commercial and Industrial Building Construction

  • Key Selling Industries
  • Machinery and Scaffolding Rental
  • Metal and Mineral Wholesaling
  • Structural Metal Product Manufacturing
  • Structural Steel Fabricating

  • Products & Services
  • Welding work and fabrication
  • Maintenance and repair
  • Assembly work
  • Chart: Structural Steel Erection Services Industry Products and Services Segmentation

  • Demand Determinants
  • Non-residential building construction
  • Non-building (or engineering) construction
  • Residential construction

  • Major Markets
  • Commercial building contractors and developers
  • Engineering construction contractors, developers and owners
  • Residential building contractors and developers
  • Chart: Major Market Segmentation for the Structural Steel Erection Services Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Chart: Cost Structure Benchmarking – Sector vs Structural Steel Erection Services

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Structural Steel Erection Services Industry

  • Industry Globalization
    There are no major players in this industry. This report includes analysis of other companies.
    Capital Intensity
  • Chart: Level of Capital Intensity for the Structural Steel Erection Services Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Structural Steel Erection Services Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Mig
  • Metallic Inert Gas systems.
  • Oxy-Acetylene Welding System
  • A welding system that involves the application of a concentrated flame to the work piece to render it sufficiently molten.
  • Steel Fabricator
  • A person or firm engaged in fabricating structural steel components for incorporation in buildings or other structures.
  • Tig
  • Tungsten Inert Gas systems.
  • What Our Customers Say

    Why buy this report?

    The Structural Steel Erection Services market research report provides key industry analysis and industry statistics, measures market size, analyzes current and future industry trends and shows market share for the industry’s largest companies. IBISWorld publishes the largest collection of industry reports so you can see an industry’s supply chain, economic drivers and key buyers and markets.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Structural Steel Erection Services:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Structural Steel Erection Services market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Structural Steel Erection Services, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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