Structural Steel Market was valued at US$ 116.16 Bn. in 2022 and it is expected to reach US$ 176.99 Bn. by 2029 at a CAGR of 6.2% during the forecast period.

Structural Steel Market Report Overview:

The report comprehensively encompasses the analysis of insights concerning the Structural Steel Market , including its dynamic patterns, industry landscape, and all significant aspects of the market. An in-depth examination of key players is also presented within the Structural Steel Market report.

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Structural Steel Market Scope and Research Methodology

The aim of this report is to assess and predict the size of the Structural Steel Market . It offers strategic profiles of significant market participants to provide an accurate depiction of the competitive landscape within the global Structural Steel Market . This includes a comprehensive analysis of recent developments such as new product launches, acquisitions, mergers, joint ventures, brand activities, and major players in the Structural Steel Market industry. The report presents insights into industry trends, dynamics, and potentials, assisting professionals in staying informed about the latest trends and sector performance. This insight aids in predicting growth and decline in Structural Steel Market share over the forecast period.

In-depth understanding of the Structural Steel Market industry was achieved through a combination of primary and secondary research methods. Various methodologies, including PESTLE, PORTER, and SWOT analysis, were employed to ensure accurate findings. SWOT analysis was employed to outline strengths, weaknesses, opportunities, and challenges for key players within the Structural Steel Market industry. Additionally, the use of PORTER and PESTLE analysis allowed for an understanding of the microeconomic and macroeconomic factors influencing the Structural Steel Market industry.

Structural Steel Market Segmentation:

by Product

Metal Welding
Metal Foaming
Machining
Others


by Application

Residential
Non-Residential

Structural Steel Market Key Players:

1. Arcelor Mittal S.A.
2. Baogang Group
3. Bohai Steel Group Co. Ltd
4. Hebei Steel Group
5. JSW Steel Limited
6. Baosteel Group Corporation
7. Nippon Steel & Sumitomo Metal Corporation
8. Tata Steel Limited
9. JFE Steel Corporation
10. HYUNDAI Steel Company
11. Jiangsu Shagang
12. Pohang Iron and Steel Company

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Structural Steel Market Regional Analysis:

The report is segmented into several key countries, with market size, growth rate, import and export of Structural Steel Market in these countries, which covering North America, U.S., Canada, Mexico, Europe, UK, Germany, France, Spain, Italy, Rest of Europe, Asia Pacific, China, India, Japan, Australia, South Korea, ASEAN Countries, Rest of APAC, South America, Brazil, and Middle East and Africa.

Key Questions answered in the Structural Steel Market Report are:

Which segment grabbed the largest share in the Structural Steel Market ?
Which segment is expected to grow at a high rate during the forecast period?
How is the competitive scenario of the Structural Steel Market ?
Which are the key factors driving the Structural Steel Market growth?
Which are the factors restraining the Structural Steel Market growth?
Which region holds the maximum share in the Structural Steel Market ?
What will be the CAGR of the Structural Steel Market during the forecast period?
Which are the prominent players in the Structural Steel Market ?
Key Offerings:

A detailed Analysis of the Market Overview
Market Share, Size & Forecast by Revenue | 2023−2029
Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
Market Segmentation – A detailed analysis by Route of administration, Application, Facility of use and Region and Region
Competitive Landscape – Top Key Vendors and Other Prominent Vendors
About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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How Is Growing E-Commerce Sector Driving South Africa E-Cigarette Market?

The South African e-cigarette market is growing due to the rising health consciousness in the country and increasing sale of such products via online platforms. As a result of these factors, from $20.7 million in 2018, the size of the market is expected to witness an 18.6% CAGR during the forecast period (2019–2024), to reach $62.0 million by 2024. Such devices do not contain tobacco, but a vial filled with a liquid containing nicotine and other flavors.

Vape mod, vaporizer, cig-a-like, and T-vapor are the various categories under the product type segment. Among these, during the historical period (2014–2018), the South African e-cigarette market was dominated by the vaporizer category, as these devices are cheap, produce dense mist, and are compatible with numerous flavors. During the forecast period, the highest CAGR in the market will be experienced in the T-vapor category. This is attributed to the ability of these variants to produce smoke similar to a conventional cigarette, which is why habitual smokers are switching to them.

On the basis of distribution channel, the South African e-cigarette market divisions are vape shop, tobacconist, hypermarket/supermarket, online, and others. Among these, the tobacconist division held the largest share in 2018, as these channels offer an array of premium products, including e-cigars, e-cigarettes, and e-liquids, along with the conventional variants. Till 2024, the online category will witness the most-rapid advance owing to the convenience they offer, such as the ability to check out and compare multiple products, discounts and offers, electronic payments, and free doorstep delivery.

The major trend in the South African e-cigarette market is flavored liquids. Presently, tobacco companies are offering a range of flavors in e-liquids, such as mint, chocolate, menthol, bubble gum, cola, and fusions of multiple flavors, to attract customers, primarily the youth and young adults. This is consistent with the finding that almost 20% of the South African smokers take up the habit after 15 years of age. Apart from attracting new smokers, such flavors are also encouraging the users of tobacco-based cigarettes to shift to the electronic variants.

Among the strongest drivers for the South African e-cigarette market is the growing awareness of people regarding their health. Such products are marketed as less-harmful alternatives to traditional variants, as the absence of tobacco prevents over 4,000 harmful chemicals from entering the lungs. Every year, around 42,500 people in the country die of tobacco use, which is why the government has raised the tax on conventional cigarettes. This, coupled with the increasing health awareness and easy availability of e-cigarettes on e-commerce platforms, will continue to drive the market.

Advancements in the technology of these devices are expected to offer market players lucrative opportunities over the forecast period. With the rising disposable income and increasing living standards, the demands and expectations of customers are changing, which is why e-cigarette manufacturers are offering new features and technologies in these devices. Some of the new features include the ability to charge the battery from external power sources, a longer battery life, and liquid-crystal display (LCD) screens that inform users of the temperature of the liquid, allowing them to change it as per requirement.

As there are still unclear regulations on the usage of these devices, the South African e-cigarette market is quite fragmented and dominated by Chinese companies. Key industry players include Altria Group Inc., British American Tobacco plc, Japan Tobacco Inc., Philip Morris International Inc., Imperial Brands plc, Shenzhen iSmoka Electronics Co. Ltd., JUUL Labs Inc., Vapor Hub International Inc., Innokin Technology Co. Ltd., Shenzhen IVPS Technology Corporation Ltd., Shenzhen Kanger Technology Co. Ltd., Pax Labs Inc., Shenzhen Smoore Technology Limited, and Korea Tobacco & Ginseng Corporation (KT&G).

Hence, the increasing health awareness will continue to drive the market in the country in the years to come.

Read More: https://www.psmarketresearch.com/market-analysis/south-korea-e-cigarette-market

Mechanical and Electromechanical Locks Market To produce $30,816.2 Million by 2030

When people need to unlock a mechanical safe lock, they turn a dial and input a key, much as they would for an old-school locker. The lock tumblers are correctly aligned by that combination, enabling the door to be opened. It is a straightforward yet efficient manual lock method.

Moreover, a bit more sophisticated locks are electronic locks or e-locks. You enter a four- to the six-digit number on a battery-operated keypad instead of turning a dial, and the combination is stored even if the battery runs out. The lock engages the mechanism and permits the handle to revolve so you may open the door when the proper combination is entered.

The mechanical and electromechanical locks market is on the track to hitting a $30,816.2 million value by 2030. This is owing to the surging need for digital locks from coworking spaces, growing demand for electronic access control from the hospitality industry, and snowballing concentration on convenience and safety.

A high degree of unpredictability has resulted in a huge increase in the demand for efficient, effective, and safe solutions. As theft and burglary instances rise, people's concerns about their safety are growing.

Smart electromechanical locks may be accessed through mobile applications, and they alert homeowners if the physical or virtual security of the doors is jeopardized. Some locks permit code changes following each entrance. Because of the high degree of security, smart electromechanical locks are in great demand worldwide.

Similar to digital locks and locking systems, mechanical locks are also seeing developments in terms of jimmy and drill proofing, tougher materials, and protection against fault factors. Additionally, in the event of a system breakdown or power outage, mechanical locks will remain to be used instead of electromechanical locks.

Replacement doors are utilized more frequently in restoration and retrofit projects and are more in demand than replacement locks. Replacement locks are a direct result of the necessity to replace doors and the growing pressure to increase property security.

The improvement in energy efficiency, which highlights the overall fenestration of buildings, is also a factor driving the mechanical and electromechanical locks industry.

Large hotel chains have adopted digital access or electronic control systems and products at a rate never before seen in commercial settings. A very big percentage of residences still use mechanical locks, and the use of electronic locks in apartments and single-family homes is still pretty recent.

But as IoT becomes more widely accepted and digital locks are made available from well-known suppliers throughout the world, smart digital locks with access controls and wireless locking are becoming more common in all industries.

Geographically, the APAC mechanical and electromechanical locks market is predicted to register the highest rate in the coming years.

This is due to the region's accelerated infrastructural development, rising urban population, soaring awareness, and widespread distribution of disposable cash. Furthermore, the biggest markets in APAC are Australia, India, South Korea, China, and Japan.

Read More: https://www.psmarketresearch.com/market-analysis/mechanical-electromechanical-locks-market

Why Are Telecom Companies Using Structured Cabling?

Structured cabling can help in making cabling management easy as it can be laid and managed by fewer staff members. This is why this system is required in today’s times, when the penetration of the internet is rising in almost every sector. According to P&S Intelligence, the increasing use of the internet is raising the demand for high bandwidths, as they enable data-intensive enterprise processes, such as high-volume online search, real-time data gathering and transfer, remote employee monitoring, and video conferences.

Thus, the installation of advanced cabling is rising among government, telecommunications, commercial, and industrial organizations. In addition, this cabling system can be cost-effective in the long run and time saving, and it is a more-organized and -standardized cabling approach than patch cords. Due to such advantages, the structured cabling market 2030 size will be $12,916.5 million, compared to the estimated $6,912.1 million of 2021, growing at a stable 7.2% CAGR till 2030.

A proper structured cabling system comprises cables and other components, all of which could be of copper or optical fiber. Among these, copper cables were the most-highly demanded in the past due to their cost-effectiveness over fiber cables and their installation. Copper is among the best conductors of electricity and corrosion-resistant, which reduces the risk of deterioration and cuts maintenance costs. In addition, copper wires can be bent into different shapes, which allows for their installation in narrow openings and tight corners.

Considering the applications for which these cables and other components are used, the structured cabling market was dominated by the LAN category in the past. It is attributed to the fact that LANs offer great flexibility to a company to connect printers, computers, surveillance cameras, phones, and photocopiers to the overall enterprise IT network. This makes the devices used by companies independent, which ultimately helps in improving the overall productivity.

Similarly, the usage of this infrastructure in data centers is escalating at a rapid pace. With the increasing usage of cloud-based solutions, the demand for third-party data storage is rising. Additionally, this demand is being driven by the surging usage of autonomous and connected vehicles, online video streaming and chatting platforms, and intelligent personal assistants. The trend of online entertainment has grown during the COVID-19 pandemic and will continue transforming leisure. Hence, to cater to the rising demand, many more data centers are being built, thereby driving the demand for structured cabling.

Globally, the Asia-Pacific region is expected to lead the structured cabling market in the coming years. It is ascribed to the increasing demand for high-speed internet connections in various industries. Moreover, the surging number of data centers in China, India, Japan, and South Korea is driving the adoption of structured cabling. In the same way, the rapid digital transformation in these countries, primarily driven by the government initiatives to bring their economies to the 21st century and reduce the usage of paper, is boosting the market advance.

Hence, the increasing demand for high bandwidths will boost the usage of structured cabling systems in the coming years.

Read More: https://www.psmarketresearch.com/market-analysis/structured-cabling-market