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Struts construction industry market dynamics shape trends and growth possibilities. Struts, which support and stabilize construction structures, are in high demand worldwide. The struts building market is affected by economic situations, technical advances, regulatory changes, and customer tastes.
Economic considerations strongly influence struts construction. Construction activity is affected by economic factors like GDP growth, interest rates, and inflation. Struts are in demand when construction projects rise during economic expansion. Construction may halt during economic downturns, affecting strut demand. The struts construction industry's market dynamics depend on the economy's cyclicality.
Technological advances also change the struts construction business. Materials, design, and manufacturing innovations can improve strut performance and efficiency. Construction businesses are using cutting-edge technology to increase project quality and longevity, fueling demand for sophisticated struts. Along with the increased emphasis on green building methods, structural construction uses sustainable and eco-friendly materials, affecting market dynamics.
Regulatory changes and compliance norms drive the construction market dynamics. Regulatory agencies' building rules, safety standards, and environmental standards affect structure design and construction. Manufacturing and construction industries must react to these changes, affecting demand for struts that meet new rules. As stakeholders prefer safe and compliant structural solutions, construction projects' safety and quality focus further changes market dynamics.
Consumer choices influence the struts construction market.The shift toward modular and prefabricated building affects strut type and design, affecting market dynamics.
Struts Construction Market Highlights:
Global Struts Construction Market Overview
Struts Construction Market Size was valued at USD 18.62 Billion in 2022. The Struts Construction industry is projected to grow from USD 19.44 Billion in 2023 to USD 30.32 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.1% during the forecast period (2024 - 2032). Increased emphasis on sustainable and eco-friendly construction practices and demand for cost-effective and time-efficient construction methods are the key market drivers enhancing market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Struts Construction Market Trends
- Growing emphasis on sustainable and eco-friendly construction practices is driving the market growth
Market CAGR for strut construction is being driven by the rising emphasis on sustainable and eco-friendly construction practices. With a growing awareness of environmental issues and resource depletion, the construction industry is increasingly adopting green building standards and practices. Struts, often made from recyclable and sustainable materials like aluminum or steel, are integral components in the construction of eco-friendly structures. These materials are not only durable and long-lasting but can also be recycled, reducing the environmental impact of construction projects.
Struts are vital components in the construction of renewable energy infrastructure, such as solar panel frames and wind turbine supports. The renewable energy sector is experiencing rapid growth as countries seek to reduce their dependence on fossil fuels and lower carbon emissions. Struts play a critical role in ensuring the stability and efficiency of renewable energy systems, which is essential for achieving sustainability goals. The construction of sustainable infrastructure projects, including public transportation systems, green bridges, and energy-efficient buildings, requires the use of eco-friendly materials such as recyclable struts. These materials contribute to the overall sustainability of the project and are often essential for meeting certification standards like LEED (Leadership in Energy and Environmental Design). Struts are used in the construction of energy-efficient structures that incorporate features like passive solar design, efficient insulation, and reduced HVAC needs. These energy-efficient buildings not only reduce energy consumption and greenhouse gas emissions but also result in long-term cost savings for owners and tenants.
As urbanization continues to grow, there is an increasing focus on developing smart and sustainable cities. Struts are essential in the construction of smart city infrastructure, such as intelligent transportation systems, energy-efficient street lighting, and environmental monitoring stations, all of which contribute to a city's overall sustainability and livability. Governments and local authorities worldwide are implementing stricter regulations and standards to promote sustainable construction practices. Struts that meet these standards are crucial for contractors and builders to remain compliant with environmental and safety regulations, further driving the demand for sustainable construction materials. Environmental consciousness is on the rise among consumers, businesses, and governments. Many companies and organizations are taking active steps to demonstrate their commitment to sustainability. Struts made from sustainable materials align with corporate social responsibility goals and are favored by environmentally conscious clients. Thus, driving the Struts Construction market revenue.
Struts Construction Market Segment Insights
Struts Construction Material Insights
The Struts Construction market segmentation, based on material, includes Aluminum, Stainless Steel, and Fiberglass. The aluminum segment dominated the market, accounting for the largest market revenue due to its exceptional combination of strength and lightness, making it an ideal material for constructing sturdy yet easily transportable struts and scaffolding systems. This lightweight nature allows for easy handling and assembly on construction sites, increasing efficiency and reducing labor costs. Moreover, aluminum's resistance to corrosion and durability ensures that these struts have a longer service life, making them a cost-effective choice for construction projects. Further, stainless steel is the material that is the second most dominant in the market of strut construction, following aluminum. Stainless steel struts are valued for their corrosion resistance and durability, making them suitable for various construction and structural applications.
Struts Construction End User Insights
The Struts Construction market segmentation, based on end users, includes Oil and gas, Aerospace and defense, Automotive, and Others. The aerospace & defense category dominates the market due to the stringent demands for precision, strength, and reliability in these industries. Aircraft and defense equipment require lightweight yet robust structures, and struts play a vital role in supporting critical components and ensuring structural integrity. Moreover, the unique challenges of aerospace and defense applications, such as high-performance materials and advanced engineering, make the use of struts and support systems a common and indispensable feature in these sectors.
Struts Construction Sales Channel Insights
The Struts Construction market segmentation, based on sales channels, includes OEM, Retail, and E-Commerce. The OEM category dominates the market because OEMs play a fundamental role in supplying essential construction components to various industries. They require struts in bulk for manufacturing equipment, vehicles, and structures, and their consistent demand creates a substantial market. OEMs maintain long-term partnerships with strut manufacturers to ensure a steady supply of high-quality struts for their products, resulting in a dominant presence in the market as they prioritize cost-efficiency, reliability, and precision in their construction and manufacturing processes.
Figure 1: Struts Construction Market, by Sales Channel, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Struts Construction Regional Insights
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Struts Construction market area dominates this market due to its established construction industry, stringent quality and safety standards, and a focus on sustainability, which fosters the adoption of efficient and eco-friendly construction materials such as struts.
Further, the major countries studied in the market report are the US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: STRUTS CONSTRUCTION MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe's Struts Construction market accounts for the second-largest market share due to the region's continued focus on infrastructure development, urbanization, and the need for structurally sound and energy-efficient buildings and infrastructure. Further, the German Struts Construction market held the largest market share, and the UK Struts Construction market was the fastest-growing market in the European region.
The Asia-Pacific Struts Construction Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to the region's rapid urbanization, increased infrastructure development, and the growing demand for efficient and sustainable construction materials and methods. Moreover, China’s Struts Construction market held the largest market share, and the Indian Struts Construction market was the fastest-growing market in the Asia-Pacific region.
Struts Construction Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Struts Construction market grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Struts Construction industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Struts Construction industry to benefit clients and increase the market sector. In recent years, the Struts Construction industry has offered some of the most significant advantages to medicine. Major players in the Struts Construction market, including Aetna Plastics Corp., Gregory Industries Inc., Hilti Corporation, ERICO Products Inc., Eaton Corporation Inc., Cooper Industries, Carpenter & Paterson, Inc., Unistrut Corporation, Atlas Supply Co., Guenther Supply, Inc., Enduro Pipeline Services Inc., and others, are attempting to increase market demand by investing in research and development operations.
Stratasys Ltd. is a leading provider of 3D printing and additive manufacturing solutions. Founded in 1989 and headquartered in Eden Prairie, Minnesota, USA, Stratasys has established itself as a pioneer in the 3D printing industry. The company specializes in designing and manufacturing a wide range of 3D printers, including Fused Deposition Modeling (FDM) and PolyJet technologies, which are used for rapid prototyping, product design, and additive manufacturing in various industries. Stratasys serves a diverse customer base, including manufacturers, designers, engineers, and researchers across sectors such as aerospace, automotive, healthcare, and consumer goods. In August 2023, Stratasys, a leading provider of 3D printing solutions, and Autodesk, a leader in 3D design and engineering software, announced a partnership to develop and market new 3D printing solutions for strut construction. The partnership will combine Stratasys' expertise in 3D printing with Autodesk's expertise in 3D design and engineering to create solutions that enable the construction of more complex and efficient struts.
Procore Technologies, Inc. is a prominent software company specializing in construction management and project management solutions. Founded in 2002 and headquartered in Carpinteria, California, USA, Procore has become a leader in the construction technology industry. The company provides cloud-based software that helps construction professionals streamline project management, collaboration, and communication, making it easier to oversee complex construction projects. In July 2023, Procore, a leading provider of construction management software, and Trimble, a leader in geospatial technology, announced a partnership to develop and market new integrated solutions for strut construction. The partnership will combine Procore's expertise in construction management software with Trimble's expertise in geospatial technology to create solutions that improve the efficiency and productivity of strut construction projects.
Key Companies in the Struts Construction market include
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Aetna Plastics Corp.
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Hilti Corporation
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ERICO Products Inc.
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Eaton Corporation Inc.
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Carpenter & Paterson, Inc.
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Unistrut Corporation
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Atlas Supply Co.
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Guenther Supply, Inc.
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Enduro Pipeline Services Inc.
Struts Construction Industry Developments
June 2023: Atlas Copco, a leading provider of industrial tools and equipment, acquired Gecotec, a leading provider of strut construction solutions. The acquisition will expand Atlas Copco's product portfolio in the strut construction market and enable it to offer more comprehensive solutions to its customers.
May 2023: Hilti, a leading provider of fastening and anchoring systems, acquired Hilti India, its Indian subsidiary. The acquisition will strengthen Hilti's position in the Indian market and enable it to better serve its customers in the region.
April 2023: Würth, a leading provider of assembly and fastening products, acquired Essve, a leading provider of strut construction solutions. The acquisition will expand Würth's product portfolio in the strut construction market and enable it to offer more comprehensive solutions to its customers.
Struts Construction Market Segmentation
Struts Construction Material Outlook
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Aluminum
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Stainless Steel
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Fiberglass
Struts Construction End User Outlook
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Oil & Gas
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Aerospace & Defense
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Automotive
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Others
Struts Construction Sales Channel Outlook
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OEM
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Retail
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E-Commerce
Struts Construction Regional Outlook
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North America
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US
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Canada
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Europe
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Germany
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France
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UK
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Italy
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Spain
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Rest of Europe
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Asia-Pacific
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China
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Japan
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India
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Australia
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South Korea
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Australia
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Rest of Asia-Pacific
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Rest of the World
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Middle East
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Africa
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Latin America
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