India Light Gauge Steel Framing Market Regional Insights and Development Trends Analyzed
The India light gauge steel framing market size is anticipated to reach USD 3.03 billion by 2030, registering a CAGR of 6.3% over the forecast period, according to a new report by Grand View Research, Inc.
Several housing schemes implemented by the Indian government and state governments, such as Pradhan Mantri Awas Yojana (PMAY) (Urban), Pradhan Mantri Gramin Awas Yojana, Maharashtra Housing and Area Development Authority Lottery Scheme, and Delhi Development Authority Housing Scheme, are expected to support the market’s growth over the forecast years. In addition, various innovations in terms of technology have led to the development of products with improved strength, stability, and safety.
Light gauge steel framing is one of the pivotal structural materials and has been among the essential constructional materials. Advantages such as lightweight, better stability, and shorter completion time have been instrumental in increasing the demand for light gauge steel framing. Moreover, its applicability in various construction essentials has been a major driving factor for the growth in its demand over the last few years. The consistent growth in the number of commercial, residential, and industrial construction projects in India and ever-shrinking completion timelines are anticipated to boost the market growth over the forecast period.
Gather more insights about the market drivers, restrains and growth of the India Light Gauge Steel Framing Market
Light gauge steel framing is widely used for numerous applications across residential, commercial, and industrial buildings owing to their inherent advantages, such as stability, flexibility, and sustainability. The product is progressively used in growing end-use industries, specifically in India, where rising industrialization and consumer income levels drive innovation in this sector. Light gauge steel frame structures cater precisely to the requirements of the growing construction sector owing to several advantages such as off-site fabrication, easy erection procedures, and reduced time for project completion.
Moreover, with advancements in technology, light gauge steel frames can be used for buildings with complex and irregular shapes without compromising the stability of the building. Several advantages over conventional construction materials such as wood and concrete are expected to drive the demand for the India light gauge steel frame market over the forecast period.
The COVID-19 pandemic has brought extensive disruption to the construction sector across the globe. The factors such as unavailability of labor, restrictions on transportation, and the temporary shutdown of construction activities and manufacturing facilities impacted the ongoing pipeline projects. However, light gauge steel framing was utilized to build emergency infrastructure for COVID-19 patients, such as temporary hospitals, vaccination centers, and supportive housing.
India Light Gauge Steel Framing Market Report Highlights
- The wall bearing steel framing segment accounted for the largest share of about 46% in 2022 and is expected to grow significantly during the forecast period. Wall bearing steel framing is extensively used in low-rise residential and commercial buildings due to its structural stability, thereby driving the segment’s growth
- Based on end use, the commercial segment is anticipated to expand at the highest CAGR of 6.8% over the forecast period. The growth of the segment can be attributed to the rising adoption of light gauge steel framing in commercial buildings due to improved material strength and refined manufacturing processes
- Light gauge steel framing is preferred or mass housing projects by the Indian Ministry of Housing and Urban Affairs. The market therefore enjoys strong government support in the country.
List of Key Players in India Light Gauge Steel Framing Market
- Tata Group
- EPACK Prefab
- Steel Authority of India (SAIL)
- MGI Infra Pvt Ltd.
- Mitsumi Housing Private Limited
- Steelion
- Nipani Infra & Industries Pvt. Ltd
- Volta Green Structures
- Jadro Steel LLP
- Stratus Steel
Order a free sample PDF of the India Light Gauge Steel Framing Market Intelligence Study, published by Grand View Research.
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