Structural Steel and Precast Concrete Contractors NAICS 238120

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Industry Summary
The 3,900 structural steel and precast concrete contractors in the US erect, assemble, and install structural elements of buildings. Large firms may offer design/build services or fabrication services. Firms may also offer repair or restoration services.
Dependence on Nonresidential Construction Activity
Demand for structural steel, reinforcing steel, and precast concrete is primarily dependent on nonresidential construction activity, which can be cyclical and influenced by economic conditions.
Hazardous Work
Structural iron and steel work is one of the top 10 most hazardous occupations in the US, as the incidence of injury and illness for structural steel and precast concrete contractors was 40% higher than the national average in 2023.
Nonresidential Construction Spending Resilient
Nonresidential construction spending continues to grow at a healthy rate, despite some challenges, including inflation and higher interest rates.
Recent Developments
Jul 7, 2025 - Office Supply to Shrink for First Time in 25 Years
- Amid increased conversions and demolitions, the US supply of office space is on pace to shrink this year for the first time in 25 years, according to real estate services firm CBRE and reporting by The Wall Street Journal. The shift marks a break in a years-long office space glut as federal tax breaks, low interest rates, and unprofitable start-ups fueled office overdevelopment. Matters were made worse as the pandemic reduced demand further. Converting unused offices into residential space seemed like an obvious solution, but until recently, such projects were unprofitable. However, lower property values, local government incentives, and zoning law changes are making conversions practical. While conversions will not reduce office supplies significantly in the short term, they are revitalizing some urban areas by bringing in new residents, which spurs other business development, including entertainment and shopping.
- The total value of nonresidential building starts rose 18% in May, according to Dodge Construction Network. Commercial construction starts increased 28% amid stronger activity in the retail, office, and warehouse subsectors. Healthcare helped boost institutional starts to 19% growth in May over April. Manufacturing starts were down 13%. Dodge Construction Network associate director of forecasting Sarah Martin said, “Construction starts rebounded across most sectors in May, bouncing back from a sluggish April. However, year-to-date figures remain below last year’s pace. Ongoing uncertainty around trade policy and the economic outlook is likely to keep construction activity in check in the months ahead.”
- Demand for building design services improved in May over the prior month, but architectural billings remain soft, according to a June report by the American Institute of Architects (AIA). The AIA’s Architecture Billing Index (ABI) rose to 47.2 in May 2025 from April’s reading of 43.2. Any reading of 50 or more indicates growth in architectural billings. The score for new project inquiries rose to 51.4 in May compared to 48.0 in April, and the index for the value of new design contracts increased from 43.3 to 45.9. The AIA’s Chief Economist, Kermit Baker said, “Business conditions remained sluggish nationwide in May, with nonresidential construction activity continuing to decline in several major metro areas. Firms across all specializations reported declining billings this month. However, the pace of decline slowed at firms specializing in multifamily residential projects. These, along with institutional work, are likely to be the first to return to growth when conditions begin to improve.”
- Firms in the architecture, engineering, and construction (AEC) sector know that generative AI is going to transform their industry, but many struggle with how to adopt AI quickly enough to remain competitive, according to a recent survey by software and AI firm BST Global and reporting by Engineering News-Record. BST partnered with the American Council of Engineering Companies and other industry insiders to conduct the survey. The survey showed that while 82% of respondents expect AI to transform their industry, only 20% said their firm’s readiness was mature or advanced. Most of those surveyed said their AI strategies were in the pilot or exploration stage. More than 90% of respondents ranked “identifying use cases with business value” and “proving business value” as the top challenges for AI implementation. Minimizing risks and proper employee training were key objectives for effective AI adoption.
Industry Revenue
Structural Steel and Precast Concrete Contractors

Industry Structure
Industry size & Structure
The typical structural steel and precast concrete contractor operates out of a single location, employs about 22 workers, and generates about $5.3 million annually.
- The structural steel and precast concrete contracting industry consists of about 3,900 companies that employ about 86,000 workers and generate about $20.6 billion annually.
- The industry is fragmented; no true national firm dominates, however the largest companies, such as Span Construction & Engineering and Crossland, operate it numerous states. Integrated companies design, fabricate, and install structural steel products.
Industry Forecast
Industry Forecast
Structural Steel and Precast Concrete Contractors Industry Growth

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