Strong resurgence of the global construction industry and rapid technological advancements in manufacturing processes and material combinations are expected to be some of the primary factors that will contribute positively to the growth of the global girders market during the forecast period. The improved properties of most modern girders such as enhanced ductility, seismic resistance, strength, and easy fabrication are also anticipated to help the girders market grow.
Demand for Affordable Housing to Boost Growth of Global Girders Market: The growing trend of smart cities across the world is expected to boost the demand in the girders market. Ever increasing urbanization, rapid population growth and the introduction of numerous affordable housing projects worldwide are also expected to help push the girders market forward.
Increasing awareness in the construction sector about the advantages of modern girders such as enhanced energy efficiency, the ease of project completion through the use of girder channels and beams, and improved flexibility are anticipated to boost the growth of the girders market.
In addition, the development of environmentally friendly materials and production processes are also gaining traction in recent times. Seimens has created a process, where hazardous smelting gases such as methane, carbon monoxide, and hydrogen are converted to reusable materials which can be used by the chemical industry.
Market players such as the High Steel Structures LLC are also providing complex paint and blast operations, along with in house shipping fleets and engineering experts which makes operations with large girders easier along with saving time and reducing overhead costs for the end user. This is expected to boost the market demand.
On the other hand fluctuating prices of raw materials is expected to lead to a rise in girders production costs, and act as the primary constraining factor for the girders market.
Increase in Building Permits to Boost the Girders Market in North America: North America has also seen a rise in the number of building permits issued in the United States, numbering in millions in the last year alone. This is expected to boost the demand for girders in the region for the forecast period. On the other hand the increased threat of rising taxes on steel imports is expected to constrain the girders market in the region.
The girder market of Asia Pacific is expected to show a rapid rate of growth owing to the fast rise in GDP, investments in tech innovations and industrial development along with a fast-expanding construction industry in the region.
Increasing government initiatives in emerging economies such as India and China are also expected to contribute favorably towards the girders market the region. A number of countries in the region are following private sector led growth in the construction and infrastructure development industry, despite high public investments for the same.
Major Girders Market Players Prefer Strategic Mergers and Acquisitions for Development: Prominent market players are using mergers, acquisitions, and collaborations to expand their geographic presence and gain better competitive advantages. Some of the key players in the girders market include JPW Companies, ArcelorMittal, Nippon Steel, Wuhan Group, High Steel Structures LLC, Emirates Building System, and United Engineering Industries Ltd.
Joint acquisition collaborators ArcelorMittal and Nippon Steel & Sumitomo Metal Corp (NSSMC) are focusing on the emerging market of India, as a lucrative growth opportunity following the activities of ArcelorMittal in acquiring Essar Steel.
FabSouth LLC, a subsidiary of the Canam group has acquired three structural steel plants from the Commercial Metals Company for an undisclosed amount to grow geographical reach and expand production capacity.
Steel Dynamics Inc. acquired all assets of Kentucky Electric Steel (KES) that is expected to add to the company’s production capacity by 250,000 tons.
Apart from mergers, acquisitions and collaborations, market players such as the JFE Engineering Corporation are also emphasizing on research and development to improve on properties such as corrosion resistance, earthquake resistance and applications in mechatronics.
Segmentation of the Girders Market: Girders can be broadly categorized on the terms of materials, product type, bridge type, configuration type, and length. On the basis of material, girders can be divided into steel, concrete and iron. On the basis of product, girders can be divided into box, plate, and I-beam. On the basis of bridge type, girders can be divided into arch bridge, suspension bridge, simple beam, cable stayed and cantilever bridge. On the basis of length girders can be categorized into below 10 k, 10-20 k, and more than 20k. Top running, double girder, single girder, and under running are the types of girders based on the configuration.
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This extensively researched report on the girders market puts greater focus on the complete examination of the market at regional and global levels to gain actionable insights, along with pertinent and trustworthy data that has been supported and validated to achieve an enhanced comprehension of the girders market’s competitive scenario along with ably recognizing lucrative opportunities for the future. The report on the girders market also includes updated data and a complete analysis according to the market segments such as geography, technology, and applications.