Fabricated Structural Metal Manufacturing in the US - Market Research Report (2014-2029)
New York, United States
Last Updated: August 2024
NAICS OD5967Revenue
$42.9bn
Past 5-Year Growth
Profit
$X.Xbn
Employees
97,021
Businesses
5,679
Wages
$X.Xbn
Fabricated Structural Metal Manufacturing in the US industry analysis
Performance in the Fabricated Structural Metal Manufacturing industry has been trending upward. Major projects and infrastructure expansions have bolstered demand for fabricated structural metals. Innovations in manufacturing techniques and materials have also contributed to this gradual uptrend. With increased urbanization and commercial construction, the industry's outlook has become more promising. There has been a sharp movement towards more sustainable production practices. Regulatory changes have also impacted the operational costs of many companies. Volatility in input costs caused some concerns among manufacturers. However, continued investment in technology and workforce training aims to sustain growth.
Trends and Insights
- Revenue in the fabricated structural metal manufacturing industry has been showing modest growth. However, profit has declined amid rising labor costs. Companies are increasingly looking for ways to streamline operations to balance the scales.
- The majority of products are geared toward industrial and general construction markets. Specialized and miscellaneous uses also represent a significant share. Product diversification helps mitigate risks associated with demand fluctuations in specific sectors.
- The Southeast region holds a significant portion of the industry's business locations. It leads in the share of fabrication plants and facilities and benefits from its proximity to key construction markets.
- The industry has a low concentration, with many small and medium-sized companies. Few companies dominate, making the industry quite fragmented. Diversity among companies can drive competition and innovation.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 0.1 % over the past five years, to reach an estimated $42.9bn in 2024.
Trends and Insights
Industry revenue shows slight growth despite challenges
- Over the past five years, the fabricated structural metal manufacturing industry has demonstrated slow but steady revenue growth. This uptick is seen as a minor respite against several sector challenges. Companies have maintained resilience, driven by the necessity of meeting increasing construction demands. However, the modest rise in growth indicates that the industry is treading water instead of accelerating.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Evolution in automation technology will drive efficiency
- Automation technology will revolutionize the fabricated structural metal manufacturing industry. Companies will increasingly adopt advanced robotics and artificial intelligence to streamline production processes. This shift will lead to enhanced precision, speed and consistent quality in manufacturing structural metal products. The increased use of automation will also result in significant cost savings by reducing labor expenses and minimizing material wastage. Enhanced operational efficiency through automation will make companies more competitive in domestic and international markets.
Biggest companies in the Fabricated Structural Metal Manufacturing in the US
| Company | Market Share (%)
2023 | Revenue ($m)
2023 | Profit ($m)
2023 | Profit Margin (%)
2023 |
|---|---|---|---|---|
Nucor Corporation | 8,153.0 | 1,594.0 | 19.6 | |
Commercial Metals Company | 2,456.4 | 313.2 | 12.8 |
To view the market share and analysis for all 2 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Industrial building construction, General construction manufacturing and Misc. use. Industrial building construction is the largest segment of the Fabricated Structural Metal Manufacturing in the US.
Trends and Insights
Industrial building construction drives industry revenue
- Industrial building construction involves creating structures for manufacturing and warehousing uses. Companies in this sector supply materials and assemblies for manufacturing facilities and large warehouses. Industrial buildings demand significant amounts of steel and fabricated metal products. This steady requirement boosts revenue substantially. Consistent demand from sectors like automotive and electronics ensures stable income.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- There are no industries to display.
Complementors
- Prefabricated Home Manufacturing in the US
- Structural Metal Product Manufacturing in the US
- Sheet Metal, Window & Door Manufacturing in the US
International industries
- Structural Metal Product Manufacturing in Canada
- Structural Metal Product Manufacturing in Australia
- Structural Metal Product Manufacturing in New Zealand
- Metal Structure Manufacturing in the UK
- Structural Metal Product Manufacturing in Ireland
Table of Contents
About this industry
Industry definition
This industry fabricates structural metal products, such as assemblies of concrete reinforcing bars and fabricated bar joists.
What's included in this industry?
Industrial building constructionGeneral construction manufacturingMisc. useBridge constructionConstruction servicesSpecialized useCompanies
Nucor CorporationCommercial Metals CompanyPurchase this report to view all 2 major companies in this industry.
Related Terms
JOISTREINFORCING BAR (REBAR)VERTICAL INTEGRATIONIndustry Code
NAICS 33231 - Fabricated Structural Metal Manufacturing in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Revenue in the fabricated structural metal manufacturing industry has been showing modest growth. However, profit has declined amid rising labor costs. Companies are increasi...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
The majority of products are geared toward industrial and general construction markets. Specialized and miscellaneous uses also represent a significant share. Product diversi...
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2024
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
The Southeast region holds a significant portion of the industry's business locations. It leads in the share of fabrication plants and facilities and benefits from its proxim...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each state in 2024
- Number and share of revenue each state accounts for in 2024
- Number and share of wages each state accounts for in 2024
- Number and share of employees in each state in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
The industry has a low concentration, with many small and medium-sized companies. Few companies dominate, making the industry quite fragmented. Diversity among companies can ...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
The most successful manufacturers cater to larger downstream markets. To achieve these higher production goals, larger manufacturers are vertically integrated and have a wide...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Nucor Corporation's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Commercial Metals Company's performance by revenue, market share and profit margin from 2018 through 2024
Detailed analysis
- Description and key data for Nucor Corporation, and factors influencing its performance in the industry
- Description and key data for Commercial Metals Company, and factors influencing its performance in the industry
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
The industry is subject to various safety and environmental regulations. Compliance requires significant effort and cost from companies. Adhering to these standards is essent...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Profit has dropped because of increasing labor costs. Companies have to carefully manage expenses to maintain financial health. Strategic investments in technology can help o...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Industry Multiples (2017-2022)
- Industry Tax Structure (2017-2022)
- Income Statement (2017-2022)
- Balance Sheet (2017-2022)
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Fabricated Structural Metal Manufacturing in the US industry in United States in 2024?
The market size of the Fabricated Structural Metal Manufacturing in the US industry in United States is $42.9bn in 2024.
How many businesses are there in the Fabricated Structural Metal Manufacturing in the US industry in 2024?
There are 5,679 businesses in the Fabricated Structural Metal Manufacturing in the US industry in United States, which has grown at a CAGR of 0.1 % between 2019 and 2024.
Has the Fabricated Structural Metal Manufacturing in the US industry in United States grown or declined over the past 5 years?
The market size of the Fabricated Structural Metal Manufacturing in the US industry in United States has been growing at a CAGR of 0.1 % between 2019 and 2024.
What is the forecast growth of the Fabricated Structural Metal Manufacturing in the US industry in United States over the next 5 years?
Over the next five years, the Fabricated Structural Metal Manufacturing in the US industry in United States is expected to grow.
What are the biggest companies in the Fabricated Structural Metal Manufacturing in the US market in United States?
The biggest companies operating in the Fabricated Structural Metal Manufacturing market in United States are Nucor Corporation and Commercial Metals Company
What does the Fabricated Structural Metal Manufacturing in the US in United States include?
Industrial building construction and General construction manufacturing are part of the Fabricated Structural Metal Manufacturing in the US industry.
Which companies have the highest market share in the Fabricated Structural Metal Manufacturing in the US in United States?
The company holding the most market share in United States is Nucor Corporation.
How competitive is the Fabricated Structural Metal Manufacturing in the US industry in United States?
The level of competition is moderate and steady in the Fabricated Structural Metal Manufacturing in the US industry in United States.
