Light gauge steel framing market occupies a USD 34,134.50 million CAGR value of 4.30% during the market forecast 2021-2030. The base year during which maximum growth took place was recognized to be 2018. The market forecast period was found to be 2021-2030.
Market Highlights
The global light gauge steel framing market is expected to witness sustainable growth during the forecast period, primarily, due to the growing construction industry. The developing countries are formulating various reforms and regulations for boosting the infrastructure and real estate industries. Such reforms are expected to drive the global light gauge steel framing market during the forecast period. The properties such as high strength to weight ratio, ease of installation, flexibility, and easy remodeling are some of the other factors, which drive the global light gauge steel framing market.
On the basis of region, the global light gauge steel framing market has been segmented into North America, Europe, Asia-Pacific, and RoW. Asia-Pacific dominated the global market, followed by North America and Europe, primarily due to the growing construction industry in China and India. The construction industry in Asia-Pacific is growing owing to the rising population and rising per capita disposal income, which adds value to the market in Asia-Pacific.
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Based on type, the skeleton steel framing segment is expected to occupy a large share in the global light gauge steel framing market during the forecast period: MRFR
On the basis of type, the global market has been segmented as skeleton steel framing, wall bearing steel framing, and long span steel framing. The skeleton steel framing segment is expected to witness moderate growth during the forecast period. It incorporates a network of columns and connecting beams, supporting the building’s interior floors and exterior walls.
Based on end-use, the commercial segment is expected to occupy the largest share in the global light gauge steel framing market: MRFR
On the basis of end-use, the global market is segmented as residential, commercial, and industrial. The commercial segment is expected to witness a moderate growth rate during the forecast period, which can be attributed to the high investment inflow in the construction industry, mainly for the construction of offices, malls, and other infrastructure.
Scope of the Report
This study provides an overview of the global light gauge steel framing market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia-Pacific, and RoW. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global light gauge steel framing market by type, end-use, and region.
By Type
Skeleton Steel Framing
Wall bearing Steel Framing
Long Span Steel Framing
By End-Use
Residential
Commercial
Industrial
By Region
North America
Asia-Pacific
Europe
Rest of the World
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Key Player
The prominent players operating in the global light gauge steel framing market are Intelligent Steel Solutions Ltd (UK), Metek Plc. (UK), Hadley Industries PLC (UK), Scottsdale Construction Systems Ltd (Australia), Steel Construction Systems (US), CRACO Manufacturing Inc. (US), ARKITECH ADVANCED CONSTRUCTION TECHNOLOGIES (Turkey), and Emirates Building System (UAE).
The key players operating in the global light gauge steel framing market are Stowell Company, Inc. (US), beSteel (Belgium), Steel Frame Solutions (Australia), Steel HQ (Hong Kong), Genesis Manazil Steel Framing (UAE), and HQ Stainless Steel Sdn Bhd. (Malaysia).
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