NAICS 23591 - Structural Steel Erection Contractors
This industry comprises establishments primarily engaged in one or more of the following: (1) erecting metal, structural steel, and similar products of prestressed or precast concrete to produce structural elements, building exteriors, and elevator fronts; (2) setting rods, bars, rebar, mesh, and cages, to reinforce poured-in-place concrete; and (3) erecting cooling towers and metal storage tanks. The structural steel erection work performed includes new work, additions, alterations, reconstruction, and maintenance and repairs.
Industry trends:
The structural steel erection contractors industry, classified under NAICS 23591, is experiencing notable qualitative trends driven by technological advancements and evolving market demands. One significant trend is the increasing adoption of Building Information Modeling (BIM) technology. BIM allows for more precise planning and visualization, facilitating better collaboration among stakeholders and reducing errors during the construction process. This trend is expected to continue as the industry seeks greater efficiency and cost savings.
Another trend is the growing emphasis on sustainability. Clients are increasingly prioritizing green building certifications and the use of recycled materials. Structural steel, being 100% recyclable, positions contractors favorably in this eco-conscious market. As regulations around environmental impact tighten, these practices are anticipated to become standard within the industry.
Additionally, the labor shortage in the construction sector is pushing contractors to invest in automation and advanced machinery. The use of drones for site surveys and prefabrication techniques to minimize on-site labor are gaining traction. This shift not only addresses the labor gap but also enhances project timelines and overall productivity.
Looking forward, the industry is forecast to experience steady growth driven by infrastructure development initiatives and urbanization projects. Government investments in infrastructure renewal and commercial construction activities are expected to provide sustained demand for structural steel erection services. However, the industry will need to navigate challenges like fluctuating steel prices and supply chain disruptions. Overall, contractors who leverage technology and sustainable practices are likely to maintain a competitive edge in the evolving market.
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