North American Structural Steel Market Set for Strong Growth Through 2035

Steel News  |  2026-08-11 03:42:13   |   By

According to the findings of the report, the market was valued at about $24.91 billion in 2025 and is projected to reach nearly $39.81 billion by 2035, expanding at a compound annual growth rate (CAGR) of 4.8% between 2026 and 2035.

SEATTLE (Scrap Monster): The North American structural steel market is expected to maintain steady growth over the next decade, said a recent market research report by Precedence Research. The ongoing infrastructure upgrades, industrial expansion, and rising demand for large commercial facilities are likely to support growth, it noted.

According to the findings of the report, the market was valued at about $24.91 billion in 2025 and is projected to reach nearly $39.81 billion by 2035, expanding at a compound annual growth rate (CAGR) of 4.8% between 2026 and 2035. The market is estimated to reach $26.11 billion in 2026.

The report identifies public spending on aging infrastructure as a key driver of the projected market growth. Fresh investments in bridges, highways, and public transportation are creating fresh demand for durable steel structures. The rapid construction of data centers, warehouses and other large buildings is also boosting steel consumption.

By product, high sectional steel and rebar each accounted for 38% of the market in 2025, while light sectional steel held a 24% share.

Also, the non-residential sector dominated applications with a 69% share, compared with 31% for residential construction.

Leading companies in the sector include Nucor, Steel Dynamics, ArcelorMittal, Gerdau North America and Reliance Steel & Aluminum, the report said.