The global Light Gauge Steel Framing market size is expected to be worth around US$ 58.21 billion by 2030, according to a new report by Vision Research Reports.
The global Light Gauge Steel Framing market size was valued at US$ 43.89 billion in 2020 and is anticipated to grow at a CAGR of 5.6% during forecast period 2021 to 2030.
The development of advanced materials with capabilities that offer safety as well as strong structural support will augment the market growth over the forecast years.
The use of these framing products provides ease of installation along with a reduction in the cumulative project completion period owing to pre-fabricated structures, which is anticipated to drive product demand significantly over the next few years. The need to lower the production costs involved in the construction of buildings is also estimated to be one of the key factors responsible for market growth.
The rising need to reduce the cost is projected to result in the development of refined materials and manufacturing processes, ultimately increasing product adoption across the globe. Over the coming years, the product is estimated to have an increased scope of application in commercial buildings owing to improved strength of framing material, facilitating its use in the construction of buildings with more than three floors.
The Covid-19 pandemic has had a significant impact on the market in 2020. Several manufacturing companies reported a notable drop in their revenues for Q1 and Q2 of the year 2020. However, the market witnessed growth in the latter part of Q3 and the beginning of Q4 of 2020. Key players in the market emphasize more on expanding their market presence through mergers and acquisitions.
In terms of revenue, the wall-bearing product type segment led the global market in 2020 accounting for the highest share of over 46%. However, the skeleton product type segment is expected to register the fastest CAGR during the forecast period owing to the increasing penetration of these products in commercial buildings. Skeleton steel framing forms the structure of the building and provides improved stability and strength for single as well as multi-story buildings.
As a result, it is also expected to gain high demand in the residential sector, especially in the developed economies like the U.S. and the U.K. Furthermore, improvements in insulation materials and procedures undertaken by the manufacturers have positively impacted the segment growth as the product usage in residential and commercial applications has now become safer.
The market, at present, is dominated by classic designs that are anticipated to be replaced by modern, eco-friendly designs over the next eight years. The easy availability of raw materials and the rapid demand from the end-use sectors, owing to the recovery of the global economy, are anticipated to generate growth opportunities for market players over the forecast period.
The residential end-use segment accounted for the largest revenue share of over 44% of the global market in 2020. The product is extensively used in commercial and residential buildings for structural support. The product penetration in residential buildings is also anticipated to increase over the next few years owing to the rising customer awareness, primarily in the U.S., the U.K., Germany, and Japan, about the benefits of product usage to reduce the project completion times.
Recent improvements in technology have enabled the use of light gauge steel framing in commercial buildings with more than three floors. The product adoption is expected to increase substantially over the next eight years owing to improved material strength, refined manufacturing processes, and increasing awareness about its economic use.
The rise in the number of commercial buildings, such as retail stores, hotels, medical centers, warehouses, and garages, in developing economies like India, China, Brazil, and Middle Eastern countries is anticipated to boost the product demand in commercial construction applications over the forecast period.
In addition, rapid industrialization in developed as well as developing nations is expected to increase the adoption of long-span product types owing to their outstanding structural capabilities.
Asia Pacific dominated the market in 2020 with a revenue share of more than 44%. The regional market is expected to expand further at the fastest CAGR of 5.5% from 2021 to 2028. The growth of the regional market is attributed to the increasing construction activities of new commercial and industrial buildings, especially in China, India, and Southeast Asian countries.
North America and Europe collectively accounted for almost 43% of the total market share in 2020 owing to the large-scale re-structuring undertaken by local governments. The development of innovative metal framing procedures is anticipated to instigate customers, particularly in the U.S. and the U.K., to redevelop buildings and to use light gauge steel framing for structural support.
These regions are highly adaptive to new technologies. As a result, the penetration of the product in commercial and residential sectors is expected to be high, thus favorably impacting the market growth. In addition, the Middle East is also expected to remain an important market on account of its vast construction sector and several ongoing and upcoming important construction projects in the region.
Clarkwestern Dietrich Building Systems LLC
Precision Walls Inc.
QSI Interiors Ltd.
Metek U.K. Ltd.
Intelligent Steel Solutions Ltd.
Middle East & Africa
The Light Gauge Steel Framing market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Light Gauge Steel Framing market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Light Gauge Steel Framing market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Light Gauge Steel Framing market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Light Gauge Steel Framing market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Light Gauge Steel Framing capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Light Gauge Steel Framing by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Light Gauge Steel Framing market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Light Gauge Steel Framing market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Light Gauge Steel Framing market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Light Gauge Steel Framing industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Light Gauge Steel Framing market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Light Gauge Steel Framing market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Light Gauge Steel Framing market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Light Gauge Steel Framing market. These factors have benefited the growth of the global market for Light Gauge Steel Framing. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Light Gauge Steel Framing. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Light Gauge Steel Framing are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
To strategically profile the key players and comprehensively analyze their growth strategies.
Metaverse Market (By Product: Hardware Software, Services; By Platform: Desktop, Mobile, Headsets; By Technology: Blockchain, VR & AR, MR; By Offering: Virtual Platforms, Asset Marketplaces, Avatars, Financial Services; By Application, By End Use) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2022 – 2030Read more...
Core Banking Software Market (By Solution: Deposits, Loans, Enterprise Customer Solutions; By Service: Professional Service, Managed Service; By Deployment: Cloud, On-premise; By End-use: Banks, Financial Institutions) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2022 – 2030Read more...
Payment Gateway Market (By Type: Hosted, Non-hosted; By Enterprise Size: Large Enterprises, Small & Medium Enterprises; By End-use: BFSI, Media & Entertainment, Retail & E-commerce, Travel & Hospitality) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2022 – 2030Read more...
Smart Pole Market (By Component: Hardware, Software, Service; By Hardware: Lighting Lamp, Pole Bracket & Pole Body, Communication Device, Controller; By Installation Type: New Installation, Retrofit Installation; By Application: Highways & Roadways, Public Places, Railways & Harbors) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2022 – 2030Read more...
Mobile Payment Market (By Technology: Near Field Communication, Direct Mobile Billing, Mobile Web Payment, SMS, Interactive Voice Response System, Mobile App; By Payment Type: B2B, B2C, B2G; By Location: Remote Payment, Proximity Payment; By End-use: BFSI, Healthcare, IT & Telecom, Media & Entertainment, Retail & E-commerce, Transportation) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2022 – 2030Read more...