Factors affecting the market development of steel construction

Abstract

Purpose The steel construction market has undergone gradual development in the past decades given its profound impacts on environment, economy and society. The purpose of this paper is to facilitate a better understanding of the major drivers and issues behind the market development of the steel construction industries around the world. Design/methodology/approach A three-step desktop research was conducted to select relevant research outputs published in the past 20 years. The research methodology in conducting these studies and their research trends were analyzed. Then the potential influencing factors for the market development of steel construction were identified through a content analysis of the selected studies. Findings A total of 59 articles were identified accordingly. These influencing factors were divided into five main themes: contextual, institutional, industrial, project-related and individual factors. In terms of the frequencies of these factors appeared in previous studies, “continuous development of standards, codes, and specifications” and “advance in product and process technology” were the top two driving forces in the market development of steel construction, while “cost issues” was the most frequently reported obstacle. Originality/value The study takes an initiative to establish a practical classification framework that can be dedicated to illuminating the critical issues or success factors affecting the development of the steel construction market. This framework can help policymakers, industry practitioners and researchers achieve sustaining success in steel construction in the developed, emerging and inactive markets.

A holistic review of research studies on financial risk management in public–private partnership projects

“…Also, unfavourable movements in the market prices and market forces of demand and supply affect the PPP project negatively (Chan et al , 2018; Xenidis and Angelides, 2005). This affects the investment portfolio of the project together with volatile movement in market conditions (Medda, 2007; Tiong, 1995; Xenidis and Angelides, 2005).…”

Proposing a strategy map for coastal urban project success using the balanced scorecard method

“…Since then, a large number of researchers have published numerous lists of factors applied to many types of projects, including construction projects (e.g. Chan et al , 2018; Chan et al , 2019; Sinesilassie et al , 2019; Wang et al , 2018; He et al , 2019). Sanvido et al (1992) were the pioneers in adapting CSFs to construction through an integrated building process model.…”

Factors affecting structural steelwork adoption from a project lifecycle perspective: The case of Hong Kong

“…Furthermore, due to differences in social and economic conditions, and government regualtions and policies in different countries, it is not clear whether the findings of previous country-specific studies fit well into the Hong Kong context. Although Wong (2003) reviewed the typical construction process of reinforced concrete-steel composite buildings in Hong Kong and offered some insights into the barriers and opportunities in using SS, this study was publised 15 years ago, over which the steel construction market might have changed dramatically (Chan et al, 2018a). Thus, there is a need of expanding and updating the relevant insights from Wong (2003).…”

“…Nevertheless, the adoption of SS still encounters many barriers. Cost has been highlighted as one of the key barriers to the SS adoption (Chan et al, 2018a). Other barriers, such as lack of design standards and insufficient construction resources, have also been revealed (Celikag and Naimi, 2011).…”