2014-02-14 14:01:02 - Steel Framing in the US - Industry Market Research Report - a new market research report on companiesandmarkets.com
Structural steel erection is an important component in the construction of a diverse range of buildings and infrastructure. Operators in the United States Steel Framing market provide services to nearly every construction market.
Industry firms compete against general construction contractors, such as Turner Corporation and Fluor, which employ skilled tradespeople, but are often subcontracted by these larger companies.
The market for steel erection services only includes work that can be contracted out as a distinct component of construction.
Over recent years, a recessioninduced drop in demand for the industry´s services intensified the competition for new work contracts. As competition intensified, industry operators increasingly competed for projects on price. Consequently, profit margins suffered, with the average margin falling to about 1.3% in 2013. In
the five years to 2013, industry revenue is estimated to decline at an average annual rate of 0.5% to $15.2 billion.
Despite some growth in 2012 and an additional 8.6% increase expected in 2013, the industry has yet to regain ground lost since the recession, and revenue remains below its 2007 peak.
Over the next five years, general economic improvement, a resurgence in the downstream nonresidential building construction markets and continued investment in infrastructure construction markets will support industry growth.
Competitive pressures are expected continue over the short term, but improved demand conditions will allow profit margins to rebound. Over the five years to 2018, industry revenue is forecast to increase at an annualized rate of 4.7% to $19.2 billion.
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