Structural integrity: Increased investment and downstream demand will boost industry revenue

Demand for Steel Framing industry services swelled in the mid-2000s, driven by the upswing of investment in key nonresidential building and infrastructure markets. Afterward, the economic recession and the subsequent slump of investment in the commercial and industrial building markets significantly hampered the industry's performance. In 2012, demand for industry services stabilized and returned to growth with the aid of improving residential and nonresidential construction markets. Moving forward, the industry is expected to enter a period of sustained growth over the next five years. This recovery will correspond with a long-awaited stabilization in US construction...read more.

Industry Statistics & Market Size
Revenue
$14bn
Annual Growth 12-17
5.1%
Forecast Growth 17-22
Profit
Employment
75,649
Businesses
11,289
Market Share of Companies
There are no companies with a dominant market share in this industry
What Our Customers Say

Industry Threats & Opportunities

  • Sustained growth in downstream markets and continued investment in infrastructure will boost industry revenue
  • Employment growth returned to the industry, but expansion was limited to larger operators
  • Stable macroeconomic conditions will result in less reactionary growth
  • Industry Report - Industry Key Buyers Chapter

    The Steel Framing industry is categorized by a low level of market share concentration. The industry mainly comprises a large number of small-scale operators that procure contracts to provide specialized labor, materials and expertise on building and infrastructure construction projects. Market share concentration has been increasing over the past five years as larger operators expand their scope of services to its clients. Nevertheless, the four largest players account for less than 10.0% of annual industry revenue and the industry's largest contractor, Schuff International, contributes an estimated 3.3% of industry revenue. Whi...purchase to read more.

    Additional Insights for the Steel Framing Industry

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

  • Having a good reputation
  • Ability to compete on tender
  • Having a high profile in the market
  • IBISWorld analysts also discuss how external factors such as Value of private nonresidential construction and Government consumption and investment in the Steel Framing industry impact industry performance..

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    What is the Steel Framing Industry?

    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.

    Industry Products
  • New nonresidential building construction
  • New nonbuilding construction (i.e. infrastructure)
  • Additions and alterations to existing structures
  • New residential building construction
  • Maintenance and repair work
  • Industry Activities
  • Erecting metal and structural steel on buildings and structures
  • Erecting prestressed or precast concrete to produce structural elements
  • Erecting metal building exteriors
  • Erecting metal elevator fronts
  • Erecting structures on metal rods, bars, rebar, mesh and cages to reinforce poured-in-place concrete
  • Erecting cooling towers
  • Erecting metal storage tanks for nonliquids (e.g. grain silos)
  • Erecting metal storage tanks for liquids other than water
  • Erecting structural steel trusses or joists
  • Welding work on construction projects (e.g. MIG and TIG welding)
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Value of private nonresidential construction
  • Government consumption and investment
  • Government funding for highways
  • Yield on 10-year Treasury note
  • Price of steel

  • Current Performance
  • Recovering demand
  • Limiting factors
  • Chart: Revenue Growth

  • Industry Outlook
  • Infrastructure trends
  • Profit and industry size
  • Table: Steel Framing Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Steel Framing Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Agriculture, Forestry, Fishing and Hunting
  • Mining
  • Utilities
  • Water Supply & Irrigation Systems
  • Apartment & Condominium Construction
  • Industrial Building Construction
  • Heavy Engineering Construction
  • Commercial Building Construction
  • Municipal Building Construction

  • Key Selling Industries
  • Finance and Insurance
  • Heavy Equipment Rental
  • Industrial Machinery & Equipment Wholesaling
  • Manufacturing
  • Metal Wholesaling
  • Precast Concrete Manufacturing

  • Products & Services
  • New nonresidential building construction
  • New residential building construction
  • Additions and alterations to existing structures
  • New nonbuilding construction (i.e. infrastructure)
  • Maintenance and repair work
  • Chart: Steel Framing Industry Products and Services Segmentation

  • Demand Determinants
  • Demand from the nonresidential building market
  • Demand from the nonbuilding construction market
  • Substitute products

  • Major Markets
  • Nonresidential building projects
  • Residential projects
  • Infrastructure projects
  • Chart: Major Market Segmentation for the Steel Framing Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Wages
  • Purchases
  • Rent and other costs
  • Chart: Cost Structure Benchmarking – Sector vs Steel Framing

  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Steel Framing 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 Steel Framing 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 Steel Framing Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Value of nonresidential construction (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Table: Industry Financial Ratios
    Electric Arc Welding
  • A process by which a power supply is used to create an electric arc between the electrode and the base material; preferred for work on thick steel because the high intensity of the heat it generates.
  • General Contractor
  • The construction management company hired to oversee every aspect of a build-out, including hiring subcontractors and specialized labor.
  • Tungsten Inert Gas (Tig)
  • An arc-welding process that uses a tungsten electrode to produce the weld.
  • Why buy this report?

    The Steel Framing industry market report contains strategic analysis of the key drivers influencing the industry. Save hours of time on research and prospecting using IBISWorld’s standardized, up-to-date reports on thousands of industries. Our industry research provides growth and profit forecasts for a five-year outlook period, presented in a clear and user-friendly format.

    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 Steel Framing:
    • 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 Steel Framing 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 Steel Framing, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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