Market Size of Vietnam Structural Steel Fabrication Industry
| 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_-_Copy.webp)
*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.
