Vietnam Structural Steel Fabrication Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

The Vietnam structural steel fabrication market is segmented by end-use industry (manufacturing, power and energy, construction, oil and gas, and others) and by product type (heavy sectional steel, light sectional steel, and others). The report offers market size and forecasts in value (USD billion) for all the above segments.

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Vietnam Structural Steel Fabrication Market Size

Vietnam Structural Steel Fabrication Market Summary
Study Period 2018- 2028
Base Year For Estimation 2022
Market Size (2023) USD 2.61 Billion
Market Size (2028) USD 3.87 Billion
CAGR (2023 - 2028) 8.21 %
Market Concentration Low

Major Players

Vietnam Structural Steel Fabrication Market Major Players

*Disclaimer: Major Players sorted in no particular order
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Vietnam Structural Steel Fabrication Market Analysis

The Vietnam Structural Steel Fabrication Market size is estimated at USD 2.61 billion in 2023, and is expected to reach USD 3.87 billion by 2028, growing at a CAGR of 8.21% during the forecast period (2023-2028).

  • Rapid urbanization, growth in infrastructure and increasing steel within the country has resulted in an astonishing rate of more than 20% growth in production of Vietnam’s steel industry. From 2013 to 2016, the steel production grew at a phenomenal rate the steel consumption also grew more than 25%.
  • As per industry experts, per capita steel consumption in Vietnam is expected increase in the next few years driven by the rising infrastructure and property investments.
  • Also, the demand for steel in the Vietnam construction sector is expected to rise more than 10% over the next few years.
  • Due to the development of the socio-economy along with the trend of globalization, the demand for construction of civil works tends to increase in recent years, so the need to use these materials are a lot of attention and interest.
  • Steel structure is one of the most popular types of structures today, fully utilized and applied in a variety of designs and construction of various projects from high-rise buildings to industrial buildings.

Vietnam Structural Steel Fabrication Market Trends

Increase In Infrastructure Activities is boosting the market

Vietnam is currently the top producer in the region because it makes up 29% of all the crude steel made. Vietnam's steel industry has grown rapidly over the last ten years, and by 2021 it is expected to rank 13 globally, with domestic crude steel output reaching a record level of 19.5 million tons per year.

When it comes to moving materials, Vietnam follows the standard method of using blast furnaces to turn iron ore and iron smelting into steel. Compared to electric induction furnace technology, which accounts for about 30% of production, this technique accounts for 70%. The OECD (2021) estimated that Vietnam's steelmaking induction furnace capacity is 1.63 million metric tons, ranking third among ASEAN economies.

Vietnam Structural Steel Fabrication Market: Production volume of steel in Vietnam, Million Metric Tons, from 2017 to 2022

FDI Inflows are increasing in Vietnam

In the past few years, political tensions between the U.S. and China have caused multinational companies to move south of the border to diversify their supply chains. This has made Vietnam a hotspot for foreign direct investment. Vietnam brought in USD 25.1 billion in the first 11 months of 2022. The Republic of South Korea is the nation that invests the most in Vietnam. By November 2022, the RoK had committed more than USD 80 billion to foreign direct investment projects in Vietnam. Vietnam needs FDI because it lacks the capital and various essential skills required to successfully build its economy. Thanks to FDI, which also supplies capital and constructs factories and other facilities, millions of jobs are created for Vietnamese citizens.

Vietnam Structural Steel Fabrication Market: Sectors that received FDI in Vietnam In December 2022, Value in USD Million

Vietnam Structural Steel Fabrication Industry Overview

The Vietnam structural steel fabrication market is fragmented, with many international and domestic players active in the country. Main players in the structural steel fabrication market in Vietnam are covered in the report. In terms of market share, the large players in the country compete with each other to gain a major share as the market is largely occupied by small and medium-sized players.

Vietnam Structural Steel Fabrication Market Leaders

  1. Zamil Steel Buildings Vietnam Company Limited.

  2. Atad Steel Structure Corporation

  3. Universal Vietnam Steel Buildings Company Limited

  4. Triviet Steel Smart Solutions

  5. PEB Steel

*Disclaimer: Major Players sorted in no particular order

Vietnam Structural Steel Fabrication Market Concentration
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Vietnam Structural Steel Fabrication Market News

  • December 2022: In 2022, Zamil Steel Vietnam received recognition as one of the Top 10 "Hanoi Key Industrial Products."
  • November 2022: A Memorandum of Understanding (MOU) was signed between the Hanoi University of Civil Engineering (HUCE), PEB Steel Buildings Co., Ltd., and HUCE. The MoU represents a significant turning point in the two parties' close cooperation toward the shared objective of creating top-notch civil engineering people resources.

Vietnam Structural Steel Fabrication Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

    1. 2.1 Analysis Methodology

    2. 2.2 Research Phases

  3. 3. MARKET INSIGHTS AND DYNAMICS

    1. 3.1 Market Overview

    2. 3.2 Market Drivers

    3. 3.3 Market Challenges

    4. 3.4 Market Opportunities

    5. 3.5 Value Chain / Supply Chain Analysis

    6. 3.6 Industry Attractiveness - Porter's Five Forces Analysis

      1. 3.6.1 Bargaining Power of Buyers/Consumers

      2. 3.6.2 Bargaining Power of Suppliers

      3. 3.6.3 Threat of New Entrants

      4. 3.6.4 Threat of Substitute Products

      5. 3.6.5 Intensity of Competitive Rivalry

    7. 3.7 Technological Snapshot

    8. 3.8 Government Regulations and Key Initiatives

    9. 3.9 Impact of COVID-19 on the Mraket

  4. 4. MARKET SEGMENTATION

    1. 4.1 By End-User Industry

      1. 4.1.1 Manufacturing

      2. 4.1.2 Power and Energy

      3. 4.1.3 Construction

      4. 4.1.4 Oil and Gas

      5. 4.1.5 Other End-User Industries

    2. 4.2 By Product Type

      1. 4.2.1 Heavy Sectional Steel

      2. 4.2.2 Light Sectional Steel

      3. 4.2.3 Other Product Types

  5. 5. COMPETITVE LANDSCAPE

    1. 5.1 Market Competition Overview

    2. 5.2 Key Company Profiles

      1. 5.2.1 Zamil Steel Buildings Vietnam Company Limited.

      2. 5.2.2 PEB Steel

      3. 5.2.3 Atad Steel Structure Corporation

      4. 5.2.4 Universal Vietnam Steel Buildings Company Limited

      5. 5.2.5 Tri Viet Steel

      6. 5.2.6 Kirby Southeast Asia Co. Ltd.

      7. 5.2.7 Metalic Vietnam Co. LTD.

      8. 5.2.8 PMB STEEL

      9. 5.2.9 Dai Dung Metallic Manufacture Construction And Trade Corporation*

  6. 6. INVESTMENT ANALYSIS

  7. 7. FUTURE OUTLOOK OF THE MARKET

  8. 8. APPENDIX

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Vietnam Structural Steel Fabrication Industry Segmentation

The Vietnam structural steel fabrication report tries to give a complete picture of the market for making structural steel in Vietnam.It focuses on technological advancements, market dynamics, and the analysis of various materials and application kinds. It also examines the dominant companies and the market environment for structural steel fabrication in Vietnam.

The market is segmented by end-use industry (manufacturing, power and energy, construction, oil and gas, and others) and by product type (heavy sectional steel, light sectional steel, and others). The report offers market size and forecasts in value (USD billion) for all the above segments.

By End-User Industry
Manufacturing
Power and Energy
Construction
Oil and Gas
Other End-User Industries
By Product Type
Heavy Sectional Steel
Light Sectional Steel
Other Product Types
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Vietnam Structural Steel Fabrication Market Research FAQs

The Vietnam Structural Steel Fabrication Market size is expected to reach USD 2.61 billion in 2023 and grow at a CAGR of 8.21% to reach USD 3.87 billion by 2028.

In 2023, the Vietnam Structural Steel Fabrication Market size is expected to reach USD 2.61 billion.

Zamil Steel Buildings Vietnam Company Limited., Atad Steel Structure Corporation, Universal Vietnam Steel Buildings Company Limited, Triviet Steel Smart Solutions and PEB Steel are the major companies operating in the Vietnam Structural Steel Fabrication Market.

Vietnam Structural Steel Fabrication Industry Report

Statistics for the 2023 Vietnam Structural Steel Fabrication market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Vietnam Structural Steel Fabrication analysis includes a market forecast outlook to for 2023 to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.

Vietnam Structural Steel Fabrication Market Report Snapshots

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