NAICS 238120 Quarterly Industry Report
Structural Steel and Precast Concrete Contractors
Comprehensive industry research for valuation professionals, business owners, buyers, and lenders
NAICS Code: 238120Sector: Construction (23)Updated: Q1 2026
About This Report
This industry profile for Structural Steel and Precast Concrete Contractors (NAICS 238120) draws on data from the U.S. Census Bureau[7], AISC[5], Bureau of Labor Statistics[8], and SBA size standards database[4]. Published by Fair Market Value and updated quarterly, it provides valuation professionals, structural trade analysts, and specialty construction investors with current market data. All quantitative claims are sourced to publicly verifiable databases.
Industry Definition & Overview
Structural Steel and Precast Concrete Contractors (NAICS 238120) encompasses establishments primarily engaged in the erection of structural steel and the installation of precast structural concrete members per the U.S. Census Bureau[3]. Work performed includes new construction, additions, alterations, maintenance, and repairs. Activities include structural steel column and beam erection, steel joist and deck installation, precast concrete beam and column placement, precast wall panel setting, and metal building frame assembly.
Structural steel erection contractors serve commercial, industrial, and institutional building projects where steel frames provide the primary structural system. Precast concrete contractors install factory-manufactured structural elements including beams, columns, double tees, hollow-core planks, and architectural wall panels. Many firms perform both steel erection and precast installation, deploying mobile cranes and rigging crews across project types. Average hourly wages in this sector reflect the skilled ironwork and crane operation expertise required for safe structural assembly at height.
Per the SBA Table of Size Standards[4], the size standard is $19 million in average annual receipts. AISC[5] (American Institute of Steel Construction) publishes the Steel Construction Manual and Code of Standard Practice that govern structural steel fabrication and erection procedures. Precast/Prestressed Concrete Institute (PCI) establishes manufacturing and erection standards for precast structural members. OSHA[6] steel erection standards under 29 CFR 1926 Subpart R govern fall protection, column stability, and beam connection safety during structural steel assembly. AISC certification programs for steel erectors and PCI plant certification for precast manufacturers provide quality assurance frameworks recognized in building code enforcement.
What's Included in This Industry
- Structural steel column and beam erection
- Steel joist, girder, and deck installation
- Precast concrete beam and column placement
- Precast wall panel and double-tee installation
- Metal building frame assembly and erection
- Hollow-core plank and precast floor system installation
- Structural steel connection bolting and welding
- Crane rigging and heavy lift operations
- Steel stair, platform, and handrail erection
- Bridge steel and precast girder erection
NAICS Classification Hierarchy
| Level | Description | Code |
|---|---|---|
| Sector | Construction | 23 |
| Subsector | Specialty Trade Contractors | 238 |
| Industry Group | Building Foundation And Exterior Contractors | 2381 |
| NAICS Industry | Steel And Precast Concrete Contractors | 23812 |
Related NAICS Codes
| Code | Description | Relationship |
|---|---|---|
| 237990 | Other Heavy and Civil Engineering Construction | Other Heavy and Civil Engineering Construction commissions structural steel and precast erection for heavy civil projects including transit stations, marine facilities, and industrial structures, with heavy civil general contractors subcontracting steel and precast work on bridge and infrastructure projects |
Geographic Concentration
Top states by share of national establishments.
| # | State | % Est. | Total Est. |
|---|---|---|---|
| 1 | California | 12.8% | 510 |
| 2 | Texas | 10.3% | 408 |
| 3 | New York | 6.1% | 242 |
| 4 | Florida | 5.9% | 235 |
| 5 | North Carolina | 3.6% | 143 |
| 6 | Georgia | 3.5% | 138 |
| 7 | Illinois | 3.3% | 132 |
| 8 | Colorado | 3.3% | 130 |
| 9 | Ohio | 2.8% | 113 |
| 10 | Washington | 2.8% | 112 |
% Of Establishments
0%
13%
Source: County Business Patterns, U.S. Census Bureau[1]
SBA Lending Summary
360
Total SBA Loans
$101.6M
Total Loan Volume
$282K
Average Loan Size
10 yrs
Average Loan Term
10.85%
Average Interest Rate
4,568
Jobs Supported
Source: SBA 7(a) Program Data, U.S. Small Business Administration — FY 2025[2]
Key Insight: Per the SBA Table of Size Standards[4], Structural Steel and Precast Concrete Contractors (NAICS 238120) has a size standard of $19 million in average annual receipts for federal contracting purposes. SBA lending programs[9] support equipment acquisition, bonding capacity, and working capital for qualifying steel erection and precast installation firms. Eligible businesses can access SBA 7(a) loans[10] for working capital, equipment, and acquisition financing, while 504 loans[11] support major fixed-asset purchases including real estate and heavy machinery.
Top SBA Lenders
| # | Lender | Loans | Volume | Avg Loan |
|---|---|---|---|---|
| 1 | Newtek Bank, National Association | 24 | $22.8M | $950K |
| 2 | Third Coast Bank | 8 | $14.3M | $1.8M |
| 3 | JPMorgan Chase Bank, National Association | 40 | $8.2M | $205K |
| 4 | U.S. Bank, National Association | 64 | $6.8M | $106K |
| 5 | Manufacturers and Traders Trust Company | 32 | $6.5M | $203K |
Frequently Asked Questions
Common questions about this industry.
What is the NAICS code for steel erection contractors?
NAICS 238120 covers structural steel and precast concrete contractors including steel column/beam erection, precast installation, metal building assembly, and bridge steel erection per the U.S. Census Bureau[3].
What is the SBA size standard for steel erection?
The SBA size standard[4] is $19 million in average annual receipts, determining eligibility for federal small business contracting programs and SBA lending products.
What standards govern structural steel erection?
AISC[5] publishes the Steel Construction Manual and Code of Standard Practice governing fabrication and erection procedures, with AISC certification programs for steel erectors providing quality assurance recognized in building code enforcement.
What OSHA standards apply to steel erection?
OSHA[6] steel erection standards under 29 CFR 1926 Subpart R govern fall protection at height, column anchor bolt requirements, beam connection sequencing, and controlled decking zone procedures during structural steel assembly operations.
What is the difference between structural steel and precast contractors?
Steel erection firms install fabricated steel columns, beams, and joists while precast contractors set factory-manufactured concrete elements per Census Bureau[3] classification, though many firms perform both activities using similar crane and rigging capabilities.
What equipment do steel erection contractors use?
Mobile cranes ranging from 30-ton rough terrain units to 500-ton crawler cranes represent the primary equipment, with crane selection based on steel member weight, building height, and site access conditions per industry erection planning practices and OSHA[12] crane safety standards.
What certifications do steel erectors need?
AISC[5] offers steel erector certification programs and PCI provides plant certification for precast manufacturers, with certified erector status increasingly required by building code officials, owners, and general contractors as a condition of contract award.
What drives demand for steel and precast construction?
Commercial building construction, warehouse and distribution center development, industrial facility expansion, and bridge rehabilitation drive demand per Census Bureau[7] construction spending data, with steel and precast structural systems selected for speed of erection, long-span capability, and seismic performance advantages.
Sources & References
Government datasets and editorial sources used in this report.
- [1]U.S. Census Bureau, County Business Patterns census.gov
- [2]U.S. Small Business Administration, SBA 7(a) Loan Program Data data.sba.gov
- [3]U.S. Census Bureau census.gov
- [4]SBA Table of Size Standards sba.gov
- [5]AISC aisc.org
- [6]OSHA osha.gov
- [7]U.S. Census Bureau data.census.gov
- [8]Bureau of Labor Statistics bls.gov
- [9]SBA lending programs sba.gov
- [10]SBA 7(a) loans sba.gov
- [11]504 loans sba.gov
- [12]OSHA osha.gov
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