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In 2021, 40 key cities across the country plan to raise 936000 new affordable rental housing units.

Vigorously promoting the construction of affordable rental housing is expected to boost the demand for precast steel structure housing.

In recent years, the state and local governments have issued a number of policies to promote the development of precast buildings.

The concentration of steel structure market is still low, and the pattern of “the strong is always strong” can be expected.

The main point of view is that precast buildings are in line with the double carbon development goal, policy driven and continuously strengthened.

Compared with other structural forms, steel structure not only has many characteristics, such as high strength, light weight, good plastic toughness and seismic performance, but also is suitable for mechanized processing and short construction period.

market concentration is still low, business model tends to be diversified 4.1 market competition is fierce, 4.2 the manufacturing mode and contracting mode represent different development paths of steel structure enterprises.

The Cr5 of steel structure industry is only about 5%, while the CR3 of American steel structure enterprises exceeds 50%.

In case of any ambiguity on the excerpt of the report, the complete content on the date of publication of the report shall prevail.

According to the statistics of the Ministry of housing and urban rural development, in 2020, the total number of newly started precast buildings in China was 630 million square meters, with a year-on-year increase of about 50%, accounting for about 20.5% of the new construction area.

At present, precast steel structure accounts for about 30% of precast buildings, and the cost is about 1.1 times that of precast concrete structure, but the labor cost of PS is only 60-70% of that of PC.

At present, the market concentration of China’s steel structure industry is low, there are many small and medium-sized enterprises and few head enterprises in the industry.

Each segment of steel structure has strong demand toughness 3.1 equipment steel structure Market: the demand of manufacturing industry is stable, New capital construction injects new momentum 3.2 building heavy steel structure Market: urbanization supports the demand for multi-storey buildings 3.3 building light steel structure Market: strong policies, Steel structure housing has broad prospects 3.4 bridge steel structure Market: benefiting from the continuous acceleration of transportation infrastructure 3.5 space steel structure Market: steel structure has significant advantages in the field of public buildings 3.6 space division and calculation of steel structure market IV.

1.2 there is still much room to improve the penetration rate of steel structure in China.

Steel structure is a form of building structure with multiple advantages.

In October 2021, the State Council issued the action plan for carbon peak before 2030, which proposed to “accelerate the industrialization of new buildings, vigorously develop precast buildings and promote steel structure housing”; In the same period, the “opinions on promoting green development of urban and rural construction” of the State Council once again stressed that “focus on promoting the construction of steel structure precast housing”.

It is expected that the construction scale of affordable housing will continue to expand in 2022, and precast steel structure buildings are ushering in important development opportunities.

4.4 the steel structure industry is accelerating towards standardization, scale Important tips for market-oriented risk tips the content of this article is excerpted from the report released by Hua’an Securities Research Institute: in depth report of [Hua’an securities · architectural decoration]: precast buildings usher in an upsurge and steel structures have broad prospects (release time: 20220121).

The risk suggests that there is a risk of macroeconomic downturn and a sharp decline in the growth rate of infrastructure and real estate investment; Price fluctuation risk of raw materials and bulk commodities; The production capacity of the enterprise is lower than expected.

Report analyst: Yin Yanji practice certificate No.: s00105200001..

Therefore, steel structure residence has prominent advantages in the construction of indemnificatory rental housing.

It is expected that precast buildings will continue to grow rapidly during the 14th Five Year Plan period, and the proportion of precast buildings in the new construction area is expected to reach more than 30% in 2025.

With the active promotion of precast construction projects in various regions, the scale of new precast buildings in China is growing.

There are three main structural forms of precast buildings, namely precast concrete structure (PC), precast steel structure (PS) and precast wood structure.

Please refer to the report for specific analysis contents.

4.3 the sources of core competitiveness under different business models are different.

Precast buildings are superior to traditional buildings in energy conservation, emission reduction, carbon reduction and other aspects, and in line with the development goal of “double carbon”.

The business model of steel structure enterprises mainly has three forms: 1) it is a manufacturing model in which customers provide drawings and steel structure enterprises mainly manufacture steel structure components; 2) It is a contractor mode in which steel structure enterprises are mainly responsible for manufacturing, construction and installation; 3) In the general contracting mode of steel structure construction, steel structure enterprises are responsible for the whole process of steel structure design, manufacturing and installation.

In the first three quarters of 2021, construction of 720000 affordable rental housing units has been started in 40 cities, accounting for 76.9% of the annual plan, with an investment of 77.5 billion yuan.

1.3 the policy is strong, the industrial upgrading and ecological and environmental protection work together, and the boom of precast buildings has started, Steel structure residence has great potential 2.1 precast building: the only way for the transformation of building industrialization 2.2 steel structure is one of the mainstream forms of precast building 2.3 it is expected that the compound growth rate of precast building will not be less than 25% during the 14th Five Year Plan period 3.

1.1 the steel structure industry has entered a new stage of development.

we expect that with the increase of labor cost and the scale effect of PS enterprises, the price difference between the two will continue to narrow.

The central economic work conference proposed to vigorously promote the construction of affordable housing in 2022.

Round Bar Ferrule

It is expected that with the improvement of steel structure technical standards and industry specifications, the withdrawal of small and medium-sized enterprises from the market will be further accelerated, and the pattern of constant strength of the strong in steel structure industry can be expected.