Page 18 - ITAtube Journal 1 2026

Market information
Figure 17: Global Construction Market Forecast 2026-
2030 (Trillion US$)
Source: ResearchandMarkets.com
growth rate of about 5,9% (Figure 17).
Anyhow the short-term growth is expected
to be slow, whereas the later growth will
accelerate.
Population growth and major infrastruc-
ture initiatives - especially in India, China,
the Gulf states and emerging markets - are
key drivers.
Adoption of structural tubes in construc-
tion varies globally. North America and
parts of Asia widely use tubular structures,
whereas Europe continues to rely mainly
on concrete and open-section steel struc-
tures. The tube industry must promote the
advantages of tubular profiles, including
flexible geometry, high mechanical perfor-
mance, smooth surfaces, and suitability
for long spans. Alloyed steels may offer
additional benefits. From a sustainability
perspective, tubes produced from scrap
in EAFs using green power significantly
reduce carbon footprint. Additional capac-
ity is particularly needed in India to meet
growing demand.
Current trade wars, tariff escalations and
political conflicts are disrupting interna-
tional project supply chains and creating
uncertainty for cross-border engineer-
ing assignments. Engineering firms with
international operations must constantly
adapt to changing political environments
and regulatory restrictions. For example,
the US is currently experiencing significant
supply restrictions, resulting in a 3.7%
contraction in production volumes, despite
its general growth patterns.
Another constraint is talent shortages
and skills gaps. Competition for talent can
drive up labor costs and limit growth for
firms unable to attract and retain skilled
professionals.
The intersection of mechanical design with
software and electrical systems is creating
a new generation of machinery.
Construction represents about 5% of tube
demand. According to GlobalNewswire
(January 2026), the global construction
market will account to USD 17.26 trillion in
2026 and is expected to exceed USD 21.73
trillion by 2030. This represents an annual
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18 ITAtube Journal April 2026