Structural Components Market

Growing demand in all end use sectors is driving the market growth

Market CAGR for structural components is being driven by the Growing Demand in All End Use Sectors. Smart materials, like smart skin, load-bearing components, and e-textiles, are taking the place of the outdated components-in-a-box method in structural electronics. Structural electronics is projected to upend the automotive and aerospace industries because of its primary capacity to reduce product weight.

Additionally, one of the main reasons propelling the expansion of the automatic power factor controller market is the increasing necessity for these devices across a range of end-user industries. The industry has a high need for power management tools, which is expected to expand the automated power factor controller market globally. Furthermore, the automatic power factor controller is becoming more commonly used in industries such as business, manufacturing, utilities, and the military, which may hasten the global market's growth during the course of the projected year.

The benefits of automated power factor controllers, such as lower electricity costs, energy savings, and power factor management, have a favorable effect on the market for these devices.

Because this controller is able to protect electrical equipment, the global market is anticipated to rise at a very quick pace. As a result, during the course of the projection period, the market will profit even more from these advantages of automated power factor controllers. Furthermore, during the projection period, the overall market expansion would be accelerated by factors including the growing urbanization and industrialization as well as the increase in investments in infrastructure development.

Furthermore, the market for automatic power factor controllers is expected to rise at a faster rate due to the development of more advanced and modern infrastructure. Moreover, it is anticipated that over the forecast period, the growth rate of the market would be favorably impacted by the expansion of industrial facilities to increase energy efficiency.

For instance, nearly 61,000 bridges in the United States required major maintenance and repairs in 2014, according to the Department of Transportation (DO). As the number of old and structurally flawed bridges rises, so does the demand for structural health monitoring systems in other areas. Thus, result in driving the Structural Components market revenue.

The Global Structural Components Market Industry is experiencing a notable surge due to increasing urbanization. As populations migrate towards urban centers, the demand for residential and commercial buildings escalates. This trend is particularly evident in developing nations, where urban areas are expanding rapidly. The need for robust structural components to support high-rise buildings and infrastructure projects is paramount. By 2024, the market is projected to reach 974.5 USD Million, reflecting the urgency for durable and efficient materials. Urbanization not only drives demand but also necessitates innovation in structural design, thereby influencing the overall growth trajectory of the industry.

Sustainability trends are increasingly shaping the Global Structural Components Market Industry. With growing awareness of environmental issues, there is a shift towards eco-friendly materials and construction practices. This trend is evident in the rising demand for recycled materials and energy-efficient designs. Companies are now focusing on reducing their carbon footprint by adopting sustainable practices in their operations. As a result, the market is expected to evolve, with projections indicating a growth to 1911.8 USD Million by 2035. The emphasis on sustainability not only meets regulatory requirements but also aligns with consumer preferences, thereby enhancing market opportunities.

Global economic growth is a crucial driver of the Global Structural Components Market Industry. As economies expand, the demand for new construction projects rises, leading to increased consumption of structural components. Economic indicators suggest that as countries recover and develop, investments in infrastructure and real estate will likely surge. This trend is expected to contribute to the market's growth, with projections indicating a compound annual growth rate of 6.32% from 2025 to 2035. The correlation between economic performance and construction activity underscores the importance of a stable economic environment for the structural components sector.

The Global Structural Components Market Industry is poised for substantial growth, with projections indicating a market size of 1911.8 USD Million by 2035. This anticipated growth reflects the increasing demand for structural components across various sectors, including residential, commercial, and industrial construction. The market is expected to experience a compound annual growth rate of 6.32% from 2025 to 2035, driven by factors such as urbanization, technological advancements, and sustainability trends. These projections highlight the dynamic nature of the industry and the potential for innovation and investment in structural components.

Technological advancements play a pivotal role in shaping the Global Structural Components Market Industry. Innovations in materials science, such as the development of high-strength concrete and advanced steel alloys, enhance the performance and longevity of structural components. These advancements enable engineers to design more resilient structures that can withstand environmental challenges. Furthermore, the integration of Building Information Modeling (BIM) facilitates improved project management and efficiency. As the industry embraces these technologies, the market is expected to witness a compound annual growth rate of 6.32% from 2025 to 2035, underscoring the potential for growth driven by technological progress.

Government infrastructure initiatives significantly influence the Global Structural Components Market Industry. Many countries are investing heavily in infrastructure development to stimulate economic growth and improve public services. These initiatives often include the construction of roads, bridges, and public buildings, all of which require high-quality structural components. For instance, in 2024, the market is anticipated to reach 974.5 USD Million, driven by these government projects. Additionally, as nations aim to modernize their infrastructure, the demand for innovative and sustainable materials is likely to increase, further propelling the market forward.

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American Structural Components market area will dominate this market, due to the existence of significant market participants in the area over the 2022–2029 forecast periods. Furthermore, over the course of the projection period, it is anticipated that the expansion of industrial facilities to increase energy efficiency will accelerate.

Further, the major countries studied in the market report are The US, German, France, the UK, Canada, Italy, Spain, India, Australia, South Korea, China, Japan, and Brazil.

Figure2: STRUCTURAL COMPONENTS MARKET SHARE BY REGION 2022 (USD Billion)

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Europe Structural Components market accounts for the second-largest market share because of intense or minimal rivalry from national and local brands. Further, the German Structural Components market maintained the most market share, and the UK Structural Components market was the European market with the quickest rate of growth.

The Asia-Pacific Structural Components Market is anticipated to expand between 2023 and 2032 at the quickest CAGR. This is because of the region's development of cutting-edge infrastructure. Furthermore, the fast industrialization and urbanization are driving the growth of the regional market. Moreover, China’s Structural Components market maintained the most market share, and the Indian Structural Components market was the Asia-Pacific region's fastest-growing market.

Leading market players are putting a lot of money into R&D to expand their product lines, which will help the structural components market, keep growing. Additionally, market players are engaging in a range of calculated initiatives to increase their worldwide presence, with important market developments involving the introduction of new products, contracts, M&A transactions, increased investment, and cooperation with other enterprises. To grow and endure in an increasingly cutthroat and dynamic market, Structural Components industry must provide reasonably priced goods.

One of the main business strategies employed by manufacturers is to manufacture locally in order to reduce operating expenses in the global Structural Components industry to help customers and expand the market segment. In recent years, the Structural Components industry has provided some of the biggest benefits to medicine. Major players in the Structural Components market, including TactoTek Oy, Canatu Oy, Neotech AMT GmbH, Pulse Electronics (a Yageo Company), T-ink Inc., Molex LLC, and Panasonic Corporation, and others, are engaging in research and development activities in an effort to boost market demand.

Yageo Corporation is a Taiwanese firm that manufactures electronic components in Taiwan. The company specializes on inductors, capacitors, and resistors, which are passive devices. They were the world's third-largest maker of passive components as of January 2020. Yageo specializes in surface-mount (or surface-mount technology-using) components. In May 2019, A partnership agreement between Atkins and CHEF'D was signed. Our collaboration sought to create a low-carb meal solution for consumers concerned about their health and lifestyle.

Panasonic Holdings Corporation is based in Kadoma, Osaka. Originally called the Matsushita Electric Housewares Manufacturing Works, Kōnosuke Matsushita founded it in Fukushima, Osaka, in 1918. Matsushita Electric Industrial Co., Ltd. was the new name after it was incorporated in 1935. Apart from being the largest manufacturer of consumer electronics globally in the latter part of the 20th century, Panasonic provides a diverse array of goods and services, such as industrial systems, automotive and avionics systems, rechargeable batteries, and house building and restoration.

In March 2021, According to reports, Panasonic will purchase Blue Yonder for $US6.45 billion after paying 86 billion yen in 2020 for a 20% ownership in the company.