Structural Steel & Precast Concrete Contractors Industry Profile

Companies in this industry erect and assemble structural steel and precast concrete components; they may also assemble and install steel reinforcing bar (rebar) and steel rods, mesh, and cages for the reinforcing of poured-in-place concrete. Major US companies include Baker Concrete Construction, CP Buckner Steel Erection, DBM Global, High Industries, and Lexicon.

The US is largest precast concrete market in 2022, followed by China and Japan. Other major markets include Germany and India, according to Statista.

The US industry includes about 3,600 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $15 billion.

Poured concrete foundation and structure contractors are covered in a separate industry profile.

COMPETITIVE LANDSCAPE

Demand is driven by residential, commercial, and government-funded construction activity. The profitability of individual companies depends on accurate cost estimation and efficient project management. Large companies have economies of scale in marketing and purchasing. Small companies can compete effectively by specializing.

PRODUCTS, OPERATIONS & TECHNOLOGY

Major projects of steel and precast concrete contractors include construction services of new office buildings and all other new nonresidential buildings, both accounting for about 10% of industry revenue. In addition, projects also include construction services for new educational buildings, new commercial warehouses, and new stores, all about 5%, each. Other projects are accounting for about 65%.

Structural steel contractors use steel components such as horizontal beams and girders and vertical columns to build the steel frames that serve as the ...