GCC Structural Steel Fabrication Market Size, Share, Growth Analysis, By Service(Metal Welding, Metal Forming, Metal Cutting, Metal Shearing), By Application(Construction, Automotive, Manufacturing, Energy & Power), By Region - Industry Forecast 2024-2031

GCC Structural Steel Fabrication Market size was valued at USD 2.32 billion in 2022 and is poised to grow from USD 2.41 billion in 2023 to USD 3.30 billion by 2031, growing at a CAGR of 4% in the forecast period (2024-2031).

Steel Fabrication is the process in which stainless fabricators convert the raw material and steel option into desired shape. This process is of two types: Integrated route process or raw material approach and Electric Arc furnace.In Integrated route or raw material approach the stainless steel is melted, heated, mixed and in the second process recycled steel is melted to get steel as the end product. This stainless steel fabrication is used to manufacture a wide range of goods, parts, and projects, including metal fabrication projects for buildings. The steel possesses qualities such as strong oxidizing temperatures, integrity, and chemical stability. It contributes to maintaining the mechanical characteristics across a wide temperature range, making it a more suitable material for usage in automobile, marine purposes, and aviation. The structural steel fabrication workshops operate on several value-added services under one roof since they entail cutting, welding, shearing, and machining.

The structural steel fabrication industry in the GCC has tremendous potential to expand its market share shortly. In big industrial operations where fabricated steel is required, structural steel is frequently used. After the steel has been blended, assembled, cut, and formed, it must be shaped to the customer's specifications. Most structural steel fabricators use state-of-the-art technologies to stay proficient and monitor the process.

GCC Structural Steel Fabrication Market is poised to grow at a sustainable CAGR for the next forecast year.