Global Structural Steel, Cold Form Metal Stud, PEMB Design and Foundation Design Engineering Services Market By Service Type (Design, Detailing, and Stamping), By Application (Structural Steel, Cold Form Metal Stud, PEMB Design, and Foundation Design), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2024-2033
- Published date: May 2024
- Report ID: 119932
- Number of Pages: 398
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Report Overview
The global Structural Steel, Cold Form Metal Stud, PEMB Design, And Foundation Design Engineering Services Market size is expected to be worth around USD 13,555.6 Million by 2033, from USD 7,408.3 Million in 2023, growing at a CAGR of 6.3% during the forecast period from 2023 to 2033.
The market for structural steel, cold-form metal studs, pre-engineered metal buildings (PEMB), and foundation design engineering services is witnessing robust growth due to increased construction activities and infrastructural development worldwide.
Structural steel is integral to modern construction, offering strength, durability, and flexibility, making it essential for high-rise buildings, bridges, and industrial structures. Cold-form metal studs are favored in both residential and commercial sectors for their cost-effectiveness and ease of installation.
PEMBs are gaining popularity due to their efficiency, reduced construction time, and adaptability, suitable for various applications including warehouses, factories, and retail spaces. These buildings are pre-designed, pre-fabricated, and often assembled on-site, minimizing waste and construction costs. Foundation design engineering services are crucial for ensuring structural integrity and stability, tailored to accommodate soil conditions and load requirements.
Key Takeaways
- The global structural steel, cold form metal stud, PEMB design, and foundation design engineering services market was valued at US$ 7,408.3 million in 2023.
- The market is projected to reach US$ 13,555.6 million by 2033 with an estimated CAGR of 6.3%.
- Among service types, design accounted for the largest market share of 47.2%.
- Among applications, structural steel accounted for the majority of the market share with 56.5%.
- North America was estimated to hold the largest global structural steel, cold form metal stud, PEMB design, and foundation design engineering services market share with 36.1%.
Service Type Analysis
Comprehensive Planning and Customization Design Service Is Dominant Among Others
The structural steel, cold-form metal stud, PEMB design, and foundation design engineering services market is segmented based on service type into design, detailing, and stamping. Design services held the majority of the revenue share, accounting for 47.2% in 2023, in the structural steel, cold form metal stud, PEMB design, and foundation design engineering services market due to several key factors.
Design services are fundamental in the initial stages of any construction project, providing comprehensive planning and customization to meet specific client needs. This phase involves creating detailed blueprints and specifications that address structural integrity, aesthetics, and functionality, ensuring that the project aligns with the consumer’s vision and regulatory standards.
The growing complexity of modern construction projects necessitates advanced design solutions. Design services must integrate new technologies, sustainable practices, and innovative materials to enhance performance and efficiency. This complexity increases the demand for skilled design professionals who can create sophisticated and adaptable designs. These factors collectively contribute to the dominance of design services.
Application Analysis
Owing to Their Sustainability, Strength, and Durability, Structural Steel Dominate the Market Among Capacity
Based on application, the market is segmented into below structural steel, cold form metal stud, PEMB design, and foundation design. Among these, structural steel accounted for the majority of the market share with 56.5%. This dominance can be attributed to its strength and durability. Structural steel is known for its exceptional strength and durability, making it ideal for constructing high-rise buildings, bridges, and large industrial structures.
Its ability to withstand heavy loads and adverse weather conditions ensures the longevity and safety of construction, which is paramount in urban development. The versatility of structural steel allows for innovative and flexible design solutions. Architects and engineers prefer steel for its ability to be shaped into complex forms, enabling the creation of aesthetically pleasing and structurally sound buildings. This flexibility supports modern architectural trends and large-scale infrastructural projects.
Key Market Segments
By Service Type
- Design
- Detailing
- Stamping
By Application
- Structural Steel
- Cold Form Metal Stud
- PEMB Design
- Foundation Design
Drivers
Increasing Housing Demand Paired With Rising Commercial Real Estate Are Driving this Market’s Growth
There is a rising demand for multifamily housing, influenced by affordability, convenience, and urban amenities. The global residential sector’s growth is driven by an increasing population, projected to reach 9.8 billion by 2050, and changing lifestyle preferences. Structural steel, favored for its strength and design flexibility, is extensively used in residential projects, enhancing aesthetic appeal and structural integrity.
Key countries like the U.S., Germany, China, and India show high growth potential in the residential sector. In the U.S., residential fixed investment accounted for $1.1 trillion in 2021, about 4.8% of GDP. The commercial sector is expanding rapidly due to economic growth, government investments in infrastructure, and technological advancements.
New commercial real estate developments contributed $2.3 trillion to the U.S. GDP in 2022, supporting 15.1 million jobs. Cold-formed metal studs, with their fire resistance, flexibility, and cost-effectiveness, are increasingly used in commercial building frameworks. Pre-engineered metal buildings are preferred for their quick assembly and cost benefits, suitable for retail, office, and recreational facilities.
In India, the commercial real estate market absorbed 59 million square feet in 2023, with an expected growth of 7-8% in 2024. Cold-formed metal studs and pre-engineered building materials, known for their durability and sustainability, are ideal for office interiors, supporting a sustainable environment and contributing to market expansion during the forecast period.
Restraints
The lack of Skilled Professionals and Limited Funds in the Middle-Class Population Are Limiting This Market’s Financial Growth
One primary factor restraining the global market for structural steel, cold form metal studs, PEMB design, and foundation design engineering services is budget constraints and lack of awareness among the middle class. Architectural services are often perceived as costly, laborious, and complex, making them inaccessible to the average middle-class population.
According to the World Economic Forum, the Asian middle class, numbering 2 billion in 2020, is expected to rise to 3.5 billion by 2030, yet many still avoid architectural services due to financial limitations. Additionally, new corporate companies often have limited budgets for IT projects, including architectural services, and prioritize cost-saving measures over strategic investments in these services. This budget limitation restricts architectural initiatives, reducing the demand for consulting and professional services.
Despite the cost-effectiveness and sustainability of architectural services, the high initial investment poses a financial burden on clients. Developed and developing nations require certified and licensed professional engineers (PE) for compliance with construction regulations and safety measures. However, the stringent academic and professional requirements to become a licensed PE result in a shortage of skilled engineers, further impacting the market. These factors collectively decrease the demand for architectural services in the structural engineering market.
Opportunity
A Variety Of PEMB Applications As Well As an Emphasis On Green Building Development Are Creating Growth Opportunities
Pre-engineered metal buildings (PEMBs) consist of prefabricated parts assembled on-site, including primary framing, secondary framing, and metal cladding. Their cost-effectiveness and sustainability make them ideal for commercial construction. In the U.S., industrial facility structures are prevalent, with NAIOP forecasting a net absorption of 310 million square feet for industrial facilities in 2023, and 323 million square feet in 2024.
PEMBs are widely used in constructing factories, warehouses, car parking sheds, and other industrial buildings due to their spacious, clear-span capabilities. PEMBs are also crucial in the aviation and military sectors for building administration buildings, aircraft hangers, and residential barracks. The outdoor recreation sector’s economic output of $1.1 trillion in 2022, 2.2% of U.S. GDP, demonstrates the potential for PEMBs in constructing aquatic centers, sports complexes, and more.
In agriculture, PEMBs are used for animal sheds, grain storage, and dairy farms, offering significant opportunities for the architectural services market. The emphasis on green building development due to environmental awareness, government regulations, and the need to reduce carbon emissions is driving demand for sustainable construction solutions.
Building operations account for nearly 40% of all carbon emissions, prompting architects to offer eco-friendly solutions like pre-engineered building materials and cold-formed metal studs, known for their strength, recyclability, and low carbon emissions. According to IFC, a $24.7 trillion investment in green building is needed by 2030, highlighting lucrative opportunities for the market.
Trends
Innovation in Technology And Building Information Modelling (BIM)
The adoption of technology is a key component for driving the structural steel architectural service market. Structural steel fabrication has been using 3D modeling technology, machine learning, computer-aided design (CAD), and building information modeling (BIM).
This advanced technology is used to create more accurate and reliable structural design and fabrication. According to a report published by UNCTAD in 2021, it has stated that frontier technologies already represent a $350 billion market, which could grow to $3.2 trillion by 2025. Such a positive growth trend in structural steel technology may enhance market growth during the forecast period.
Similarly, technology-integrated building information modeling (BIM) enables the planning, design, construction, and maintenance of a variety of structures. It visualizes the digital model of buildings and consists of detailed information about their features, components, materials, and systems that allow architects, engineers, and construction professionals to collaborate and work together on a centralized platform. Such an innovation platform makes all the stakeholders visualize, analyze, and stimulate different aspects of a project.
Geopolitical Impact Analysis
Geopolitical Tensions Significantly Impact the Growth of Structural Steel, Cold Form Metal Stud, PEMB Design, and Foundation Design Engineering Services Market Due to The Halt in Production and Supply Chain Activities
The conflict between Russia and Ukraine significantly disrupted the supply chain for raw materials, particularly steel, which is essential for structural steel and cold-form metal stud production. Sanctions on Russia, a major steel exporter, led to supply shortages and increased steel prices globally, impacting the cost structure for engineering services reliant on these materials.
Lockdowns in major manufacturing hubs, particularly in China, caused further disruptions in the supply of essential components, leading to delays in PEMB (Pre-Engineered Metal Buildings) and foundation design projects. Europe’s energy crisis, driven by reduced gas supplies from Russia, led to higher energy costs. This impacted the cost of production for energy-intensive industries such as steel manufacturing. Engineering services companies faced increased operational costs, which were often passed on to clients, leading to higher overall project costs.
The imposition of tariffs on steel imports by various countries, including the United States, aimed at protecting domestic industries, caused fluctuations in steel prices. This created an uncertain pricing environment, affecting project budgeting and costing for engineering services. Companies began to diversify their supply chains to reduce reliance on a single source, particularly from regions affected by geopolitical tensions.
This shift resulted in increased lead times and costs but aimed at stabilizing supply and reducing future risks. Increased investments in local production facilities and alternative suppliers were observed, impacting the engineering services market by changing the dynamics of material availability and project execution timelines.
Ongoing trade tensions between major economies, such as the US-China trade war, continued to create uncertainty in global markets. Tariffs and trade barriers affected the cost and availability of materials, impacting project feasibility and cost estimations. Companies involved in cross-border projects had to navigate complex regulatory environments, increasing the administrative burden and potentially delaying project timelines.
Regional Analysis
North America is estimated to be the Most Lucrative Market in the Global Structural Steel, Cold Form Metal Stud, PEMB Design, and Foundation Design Engineering Services Market
North American countries, particularly the US and Canada, are experiencing significant growth in the structural steel, cold-form metal stud, PEMB design, and foundation design engineering services market. North America accounted for the largest market share of 36.1% in the market as of 2023. This growth is driven by innovative technological infrastructure, supportive government policies for renewable energy, robust industrial sectors, and the presence of leading market players.
- The United States had a surplus for trade in Architecture, Engineering, and Construction (AEC) services, with exports of U.S. AEC services reaching $15.86 billion in 2019 and imports at $8.34 billion.
The Canadian government’s goal to achieve a net-zero electricity system by 2035 exemplifies these supportive initiatives, promoting cost-effective, reliable, and clean energy across the country. Structural steel is extensively used in solar farms and rooftop installations for supporting fabricated structures and mounting systems.
Cold-formed metal studs, known for their cost-effectiveness, durability, and resistance to harsh environmental conditions, are integral for maintaining structural integrity. Canada’s building and construction sector is also poised for growth due to the rising global population, high consumer purchasing power, economic development, and government-approved funding for building projects. For instance, an 18.4% increase in building construction investment in Saskatchewan in March 2024 underscores this growth trend.
Structural steel, cold-formed metal studs, and pre-engineered metal building materials, prized for their lightweight, durability, versatility, and cost-effectiveness, are preferred choices for constructing structural frameworks, roofs, and wall systems. These factors collectively enhance the market potential for structural steel, cold-form metal studs, PEMB design, and foundation design engineering services in North America during the forecast period.
Key Regions and Countries
- North America
- The US
- Canada
- Europe
- Germany
- France
- The UK
- Spain
- Italy
- Russia & CIS
- Rest of Europe
- APAC
- China
- Japan
- South Korea
- India
- ASEAN
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of MEA
Key Players Analysis
Strong Focus On Service Portfolios and Investing In Technologies, Maintain the Dominance of Industry Leaders
Engineering service providers are diversifying their service portfolios to cater to a wider range of client needs. This may involve expanding beyond traditional structural steel and cold-form metal stud design to offer comprehensive PEMB (Pre-Engineered Metal Building) design and foundation design engineering services. By providing a one-stop solution for various design requirements, companies can attract more clients and increase their market share.
Embracing advanced technologies such as Building Information Modeling (BIM), computational design software, and automation tools can significantly enhance the efficiency and accuracy of engineering services. Key players are investing in these technologies to streamline design processes, optimize resource utilization, and deliver superior results to clients. Additionally, incorporating sustainability and green building principles into designs through technology integration aligns with the market trend toward eco-friendly solutions.
Market Key Players
Collaboration with other industry stakeholders such as architects, contractors, material suppliers, and technology providers can unlock synergies and create opportunities for innovation. Key players are forming strategic partnerships to leverage complementary expertise, access new markets, and jointly develop innovative solutions.
These partnerships can enhance the overall competitiveness and capabilities of engineering service providers in the market. Major players are evolving by diversifying service offerings, integrating technology, focusing on customization, forming strategic partnerships, investing in talent development, and expanding globally. These strategies enable engineering service providers to adapt to market dynamics, meet client expectations, and maintain a competitive edge in the industry.
The following are some of the major players in the industry
- Neilsoft Limited
- Pennar Industries Limited
- Simsona Corporation
- Maestro Steel Detailing Inc.
- DGS Technical Services Pvt. Ltd
- Milekal
- Techflow Engineers Pvt. Ltd.
- NYC Steel Services
- FDR Engineers, PLLC
- Atlantic Engineering Services
- TRC WORLDWIDE ENGINEERING, INC.
- WSP
- Super Stud Building Products
- Western-Core Inc.
- Canary Inc.
- Whiteboard Technologies Pvt. Ltd
- VISTA Engineering Solution Inc.
- Aisolar
- Arc Kreations, Inc.
- H. Charles Engineering, Inc.
- Steele Solutions, Inc.
- TRIPLE D Engineering
- SECD Technical Services LLC
- Advenser Engineering Systems LLC
- Al Khoory Group
- Other Key Players
Recent Development
- In April 2024, TRC’s Jacksonville office contributed structural engineering services to the WK Pierremont Medical Arts Building project located in Shreveport, LA.
- In December 2022, WSP is excited to share news of its agreement to acquire Enstruct, a structural engineering firm renowned for its excellence in designing and delivering high-quality building projects across Australia. With 75 employees and offices in Sydney, Melbourne, and Brisbane, Enstruct strengthens WSP’s presence in the region.
Report Scope
Report Features Description Market Value (2023) US$ 7,408.3 Mn Forecast Revenue (2033) US$ 13,555.6 Mn CAGR (2024-2033) 6.3% Base Year for Estimation 2023 Historic Period 2020-2023 Forecast Period 2024-2033 Report Coverage Revenue Forecast, Market Dynamics, COVID-19 Impact, Competitive Landscape, Recent Developments Segments Covered By Service Type (Design, Detailing, and Stamping), By Application (Structural Steel, Cold Form Metal Stud, PEMB Design, and Foundation Design) Regional Analysis North America – The US & Canada; Europe – Germany, France, The UK, Spain, Italy, Russia & CIS, Rest of Europe; APAC– China, Japan, South Korea, India, ASEAN & Rest of APAC; Latin America– Brazil, Mexico & Rest of Latin America; Middle East & Africa– GCC, South Africa, & Rest of MEA Competitive Landscape Neilsoft Limited, Pennar Industries Limited, Simsona Corporation, Maestro Steel Detailing Inc., DGS Technical Services Pvt. Ltd, Milekal, Techflow Engineers Pvt. Ltd., NYC Steel Services, FDR Engineers, PLLC, and Atlantic Engineering Services, TRC Worldwide Engineering, Inc., WSP, Super Stud Building Products, Western-Core Inc., Canary Inc., Whiteboard Technologies Pvt. Ltd, VISTA Engineering Solution Inc., Aisolar, Arc Kreations, Inc., D.H. Charles Engineering, Inc., Steele Solutions, Inc. TRIPLE D Engineering, SECD Technical Services LLC, Advenser Engineering Systems LLC, Al Khoory Group, and Other Key Players Customization Scope Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements. Purchase Options We have three licenses to opt for: Single User License, Multi-User License (Up to 5 Users), Corporate Use License (Unlimited User and Printable PDF) Frequently Asked Questions (FAQ)
What is the size of Structural Steel, Cold Form Metal Stud, PEMB Design, And Foundation Design Engineering Services Market?Structural Steel, Cold Form Metal Stud, PEMB Design, And Foundation Design Engineering Services Market size is expected to be worth around USD 13,555.6 Million by 2033, from USD 7,408.3 Million in 2023
What CAGR is projected for the Structural Steel, Cold Form Metal Stud, PEMB Design and Foundation Design Engineering Services Market?The Structural Steel, Cold Form Metal Stud, PEMB Design and Foundation Design Engineering Services Market is expected to grow at 6.3% CAGR (2024-2033).Structural Steel, Cold Form Metal Stud, PEMB Design, Foundation Design Engineering Services MarketPublished date: May 2024add_shopping_cartBuy Now get_appDownload Sample - Neilsoft Limited
- Pennar Industries Limited
- Simsona Corporation
- Maestro Steel Detailing Inc.
- DGS Technical Services Pvt. Ltd
- Milekal
- Techflow Engineers Pvt. Ltd.
- NYC Steel Services
- FDR Engineers, PLLC
- Atlantic Engineering Services
- TRC WORLDWIDE ENGINEERING, INC.
- WSP
- Super Stud Building Products
- Western-Core Inc.
- Canary Inc.
- Whiteboard Technologies Pvt. Ltd
- VISTA Engineering Solution Inc.
- Aisolar
- Arc Kreations, Inc.
- H. Charles Engineering, Inc.
- Steele Solutions, Inc.
- TRIPLE D Engineering
- SECD Technical Services LLC
- Advenser Engineering Systems LLC
- Al Khoory Group
- Other Key Players
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