Demand for universal steel beams and structural steel elements could be set for substantial growth as part of a boom in the industrial machinery market.
According to IHS Technology, growth in industrial machinery is set to double in 2014, hitting 6.3% from 2.9% last year.
Several niches are likely to contribute towards this, including the construction equipment segment.
“Increased demand for housing, infrastructure and commercial buildings is benefiting the construction equipment sectors,” the report states.
“Moreover, social awareness of green technologies is resulting in higher demand for industrial machines in photovoltaics and in wind turbines.”
All of this is good news for those in the construction industry, where an upturn in infrastructure work in particular could drive orders for structural steel elements including universal steel beams.
In Europe in particular the coming growth could be a major turnaround on recent years.
Last year, Europe as a whole saw a 1.1% increase in industrial machinery output, but that was up from a 5.6% decline in 2012.
If the turnaround continues at such a pace, the final growth rate across the EU in 2014 could be much higher than has been seen in recent years.