Structural Steel Sourcing and Procurement Report by Top Spending Regions and Market Price Trends - Forecast and Analysis 2021-2025

Structural Steel Sourcing and Procurement Report by Top Spending Regions and Market Price Trends - Forecast and Analysis 2021-2025

  • Published: Oct 2021
  • Pages: 120
  • SKU: IRCMSTR22439

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Structural Steel Procurement - Sourcing and Intelligence Report on Price Trends and Spend & Growth Analysis

The structural steel procurement category is projected to grow at a CAGR of 6.02% during 2021-2025. The prices are outlined to rise by 3%-4% during the forecast period and suppliers will have a moderate bargaining power in this market. ArcelorMittal SA, Nippon Steel Corp., and Hesteel Group Co. Ltd. are a few of the key suppliers in structural steel market.

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Who are the Top Suppliers in the Structural Steel Market?

This report offers detailed insights and analysis of the major cost drivers, volume drivers, and innovations of the structural steel procurement and sourcing market, which the global suppliers have been leveraging to gain a competitive edge across regions. Some of the leading structural steel suppliers profiled extensively in this report include:

Furthermore, this structural steel procurement market report provides detailed analysis of procurement strategies deployed by major category end-users across several industries while sourcing for structural steel requirements. In addition, most adopted and high potential pricing models considered by buyers have been analyzed in this report, which will help understand business scopes for revenue expansion. These data will assist buyers to realize cost savings and identify business strategies to improve sales.

What are the Most Suitable Supplier Selection Criteria, Supplier Evaluation Metrics, and SLA that Buyers Should Consider?

The structural steel procurement market report provides detailed analysis into various supplier selection criteria, RFX questions, supplier evaluation metrics, and the service level agreements that the buyers should consider adopting to achieve significant cost savings, streamline procurement process, and reduce category TCO while sourcing for structural steel requirements.

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What are the Most Adopted Procurement Strategies by Buyers Across Industries?

The report provides a detailed insight of the most adopted procurement strategies by buyers across industries and analysis of these strategies with respect to innovation, regulatory compliance, quality, supply, and cost. Adoption of these procurement strategies will enable the buyers to reduce category TCO and achieve cost savings, while sourcing for structural steel requirements.

What are the Major Pricing Models Adopted by Buyers in Structural Steel Market?

The report discusses in detail each pricing model and the pros and cons attached to every pricing model prevalent in the market. Also, the report provides insights with respect to the category supply chain and the margins of various suppliers within the supply chain. These market analysis data will enable the buyers to make informed strategic sourcing decisions. Buy the full structural steel procurement market report now to get comprehensive details on pricing models

Price Strategies and Benchmark

Request for a FREE sample to access the latest price forecasts, market drivers, TCO reduction opportunites for structural steel market

To optimize the value of the purchase, it is crucial to keep a track of current and future price trends. Price forecasts are beneficial in purchase planning, especially when supplemented by the constant monitoring of price influencing factors. During the forecast period, the market expects an incremental spend of 91.97 $ billion due to various market drivers prevalent across multiple regions. Also, the report speaks about various cost-saving factors through analysis of the below factors:

  • Identify favorable opportunities in structural steel TCO (total cost of ownership)
  • Expected changes in price forecast and factors driving the current and future price changes
  • Identify pricing models that offer the most rewarding opportunities

What will the Spend Growth and Demand be by Region?

The structural steel market will register an incremental spend of about 91.97 $ billion during the forecast period. However, only a few regions will drive the majority of this growth. Moreover, on the supply side, North America, Europe, and APAC will have the maximum influence owing to the supplier base. The growth is expected to be primarily driven by increasing demand and adoption of the category across those few regions. To get a detailed analysis of the volume drivers that are driving the adoption of the category across regions, buy the full report now!

The drivers and inhibitors that influence these global and regional outlooks are elaborated in detail in this procurement report. Our in-depth growth decomposition analysis covers details on:

  • Factors driving the growth (or lack of it) in individual geographies
  • Regions that hold the most rewarding opportunities for buyers and suppliers
  • Spend growth and regional spend segmentation over the coming years

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What are the Major Category Management Objectives for Structural Steel Sourcing?

A targeted strategic approach to structural steel sourcing will provide several opportunities. However, in the absence of actionable intelligence on structural steel, buyers may end up focusing on a tactical sourcing strategy without any focus on cost-saving opportunities. Hence, this report focuses on category management initiatives such as cost savings, category innovations, and top-line growth, which will assist buyers to formulate a strategic procurement strategy

The report explains the following key category management objectives that should form the base for sourcing strategy.

To explore the extent of influence of category management objectives that can improve the efficiencies of the retailers, Request for a FREE Sample Report!

In addition to helping buyers in identifying the strategic goals and initiatives for category management, the report also has detailed insights into the most outsourced category management activities and category enablers which can simplify the procurement process for buyers.

Scope of Structural Steel

Report Specs

Details

Page number

120

Base year

2021

Forecast period

2021-2025

Spend growth (CAGR)

6.02%

Incremental spend

91.97 $ billion

Pricing growth outlook

3%-4%

Pricing models

Volume-based pricing and Market-based pricing

Supplier selection scope

Technological capabilities and level of automation, Product portfolio, Efficient logistics services, and Financial stability of the supplier

Supplier opportunities

Managing labor price volatility, Manage ad hoc spend, Level of automation, Manage ad hoc spend, Forward integration, Quality management, Adoption of automation, Vertical integration, and Negotiate on pricing and contractual terms

Supplier selection criteria

Business needs, Technical specifications, Operational requirements, Security compliance, Regulatory mandates, Legal requirements, Quality control, Change management procedures, Pricing models, Penalty clauses, SLA nuances, Acceptance criteria, and Evaluation criteria

Category management scope

Cost savings, Category innovations, Top-line growth, Scalability of inputs, Supply assurance, Demand forecasting and governance, Top-line growth, Adherence to regulatory nuances, Reduction of TCO, Supply base rationalization, Green initiatives, and Minimalization of ad hoc purchases

Top suppliers

ArcelorMittal SA, Nippon Steel Corp., Hesteel Group Co. Ltd., POSCO, Shagang Group Co. Ltd., Ansteel Group Corp. Ltd., JFE Steel Corp., Jianlong Group Co., and Shougang Group Co. Ltd.

Market dynamics

Regional category spend in terms of percentage with respect to North America, South America, Europe, Middle East and Africa and APAC and global category spend and CAGR in terms of percentage over a span of 5 years.

Customization scope

We can create customized sourcing/procurement reports with specific requirements for your business.

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Executive Summary

    Market Insights

      Category Pricing Insights

        Cost-saving Opportunities

          Best Practices

            Category Ecosystem

              Category Management Strategy

                Category Management Enablers

                  Suppliers Selection

                    Suppliers under Coverage

                      US Market Insights

                        Category scope

                          Appendix

                            Research Framework

                            SpendEdge presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key category influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

                            INFORMATION SOURCES

                            Primary sources

                            • Procurement heads
                            • Category managers
                            • Sourcing consortium professionals
                            • Industry experts and thought leaders
                            • Procurement managers
                            • Category heads of suppliers
                            • Client account heads/managers
                            • Client and industry consultants

                            Secondary sources

                            • Industry journals and reports
                            • Periodicals and new articles
                            • Category webinars
                            • Internal categiry playbooks
                            • Industry and government websites on regulations and compliance
                            • Internal databases
                            • Industry blogs/thought leader briefings

                            DATA ANALYSIS

                            Structural Steel Sourcing and Procurement Report by Top Spending Regions and Market Price Trends - Forecast and Analysis 2021-2025
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