China Steel Structure Market
Steel structure is one of the most widely used forms of structure in China. It’s a type of building frame made from steel, composed of horizontal and vertical frame members, which are connected together by welding or bolting. Steel structures are used for a range of applications, from warehouses and large industrial complexes to multi-storey office space and single-storey shopping centres. Steel structures are also increasingly being found in residential buildings as they offer advantages in terms of stability, flexibility and strength. The Chinese steel structure market is growing rapidly, and it’s estimated that by 2020, it will exceed $600 billion.
In terms of demand, the China steel structure market is driven largely by the construction and engineering sectors. The construction sector is the main user of steel structure in China, and the country’s total infrastructure output is expected to reach RMB 153 trillion by 2020. Additionally, the engineering sector is expected to account for approximately 30% of total demand, as various forms of engineering works continue to develop in the nation.
The Chinese steel structure market also has strong potential for growth due to the country’s improving construction industry. Industrialization and urbanization processes in China have increased the demand for new, modern buildings, and steel structure provides a reliable, cost-effective solution for these kinds of projects. Furthermore, China’s on-going economic development has seen the demand for higher quality buildings, many of which are made of steel structure.
The Chinese steel structure market is segmented into eight key geographic markets, including Beijing, Shanghai, Hong Kong, Tianjin, Shenzhen, Guangzhou, Chongqing and Northeast China. The Beijing, Tianjin and northeast Chinese markets are the most active, accounting for around two-thirds of the total Chinese steel structure market in 2015.
Beijing is the largest steel structure market in China, estimated to account for around 26% of the domestic demand, mainly due to its growing construction industry and a wide range of different projects. The steel structure demand in Beijing is mainly driven by the city’s number of large-scale construction projects such as the Beijing International Airport and a new subway line.
In addition, Shanghai and Shenzhen were two other major steel structure markets that contributed significantly to the total Chinese steel consumed in 2015. Moreover, Hong Kong, Tianjin and Guangzhou have seen increased steel structure demand due to the strong development of their construction industry.
Moreover, northeast China is one of the most important and active markets of the Chinese steel structure industry. The market is becoming increasingly important as leaders in the region are focusing on the economic development of the area. This includes the improvement of the transportation infrastructure and urbanization process.
In summary, the Chinese steel structure market is one of the largest in the world and is expected to continue to grow over the coming years. Driven by the country’s rapid economic growth, increasing urbanization and modernization, the market has the potential to be much bigger in the future.