The global light gauge steel framing market size 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 size 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 size.
Globally, the light gauge steel framing market size occupies a USD 34,134.50 million CAGR value of 4.30% during the market forecast 2021-2030
Based on type, the skeleton steel framing segment is expected to occupy a large share in the global light gauge steel framing market size 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 size: 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.
Asia-Pacific is expected to witness moderate growth in the light gauge steel framing market size during the forecast period: MRFR
On the basis of region, the Global Light gauge steel framing market size 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.
Key Players
The prominent players operating in the global light gauge steel framing market size are Metek Plc. (UK), Hadley Industries PLC (UK), Intelligent Steel Solutions Ltd (UK), ARKITECH ADVANCED CONSTRUCTION TECHNOLOGIES (Turkey), Scottsdale Construction Systems Ltd (Australia), Steel Construction Systems (US), Emirates Building System (UAE), and Stowell Company, Inc. (US).
Genesis Manazil Steel Framing (UAE), CRACO Manufacturing Inc. (US), Steel Frame Solutions (Australia), Steel HQ (Hong Kong), HQ Stainless Steel Sdn Bhd. (Malaysia), and beSteel (Belgium) are some of the other key players operating in the global light gauge steel framing market size.
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