The Light Gauge Steel Framing Market is segmented by Product Type (Skeleton Steel Framing, Wall Bearing Steel Framing, and Long Span Steel Framing), by End-User Type (Residential, Commercial, and Industrial), and by Region (North America [The USA, Canada, and Mexico], Europe [Germany, France, The UK, Russia, Italy, and Rest of Europe], Asia-Pacific [China, Japan, India, South Korea, and Rest of Asia-Pacific], and Rest of the World [Brazil, Argentina, and Others]).
The Light Gauge Steel Framing Market is segmented by Product Type ...
The Light Gauge Steel Framing Market was estimated to grow from US$ 36.29 billion in 2022 to reach US$ 49.41 billion by 2028 at a CAGR of 4.44% during the forecast period.
Light gauge steel framing is a construction technology that employs cold-formed steel as the primary building material for roof systems, floor systems, wall systems, roof panels, and entire buildings. Light gauge steel framing offers benefits such as fast construction, low waste, high tolerance, design flexibility, and high quality.
Market Dynamics
These factors are expected to boost the demand for the market in the coming years:
Major factors such as the growing construction industry, investment in infrastructure projects, increasing demand for residential and commercial construction, as well as rising population and rapid urbanization.
Furthermore, increasing adoption of light gauge steel framing in construction activities due to its low cost, quick construction, and durability.
Light Gauge Steel Framing Market Features
Market Size in 2028
US$ 49.41 billion
Market Size in 2022
US$ 36.29 billion
Market Growth (2023-2028)
4.44% CAGR
Base Year of Study
2022
Trend Period
2017-2021
Forecast Period
2023-2028
Segments Analysis
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.
The market is segmented into the following categories-
By Product Type
Skeleton Steel Framing
Wall Bearing Steel Framing
Long Span Steel Framing
By End-User Type
Residential
Commercial
Industrial
By Region
North America
Europe
Asia-Pacific
Rest of the World
By Product Trends
The market is bifurcated into skeleton steel framing, wall bearing steel framing, and long span steel framing. Skeleton steel framing is expected to grow at the highest CAGR during the forecast period. Key factors driving the growth of the segment are increasing construction activities across the globe and growing demand for skeleton steel framing for commercial construction projects. Furthermore, skeleton steel framing offers excellent stability and strength and can be used for single and multi-story buildings. This, in turn, is likely to fuel the segment's growth over the next five years.
By End-User Trends
The market is segmented as residential, commercial, and industrial. Among these end-user types, the commercial segment dominates the market. Light gauge steel framing is majorly used in commercial buildings, schools, hospitals, and offices. Furthermore, increasing demand for commercial construction, particularly in developing economies, is expected to drive the growth of the segment during the assessment period.
Regional Analysis
Asia-Pacific is expected to remain the largest market for light gauge steel framings over the forecast period.Furthermore, the region is expected to experience healthy market growth in the coming years. Increasing construction activities for both residential and commercial buildings, rapid urbanization, and increasing population are driving the growth of the region's market. In addition, increasing investment by the government for infrastructural development and growing awareness about minimizing funding for construction projects are expected to drive the region's market growth during the assessment period.
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Key Players
Construction remains one of the key industries that all the key light gauge steel framing suppliers are targeting today. The following are some of the key players in the light gauge steel framing market:
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
What Deliverables Will You Get in this Report?
Key questions this report answers
Relevant contents in the report
How big is the sales opportunity?
In-depth Analysis of the Light Gauge Steel Framing Market
How lucrative is the future?
Market forecast and trend data and emerging trends
Which regions offer the best sales opportunities?
Global, regional, and country-level historical data and forecasts
Which are the most attractive market segments?
Market segment analysis and Forecast
Which are the top players and their market positioning?
Porter’s five forces analysis, PEST analysis, Life cycle analysis
What are the factors affecting the market?
Drivers & challenges
Will I get the information on my specific requirement?
10% free customization
Research Methodology
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Target Audience
The target audience of the market includes-
Vendors
Manufacturers
Distributors
Organizations
Government Bodies.
Covid-19 Impact
The outbreak of the pandemic impacted every industry including the construction sector. As a result, the industry recorded a massive decline in 2020. The impact of this has been documented across its supply chain including the demand for light gauge steel framing. The market declined in 2020, due to supply chain disruption, shortage of manpower and raw materials, and production halts.
Critical Questions Answered in the Report
This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the global market. The historic years considered for the study are 2017-2028, the base year is 2022, the estimated year is 2023, and the Assessment period is 2023-2028.
The following are the critical questions answered in the report:
What are the key trends in the global market?
How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
What is the impact of COVID-19 on the global market?
What are the key strategies adopted by the major vendors to lead in the global market?
What is the market share of the top vendors?
Report Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Detailed profiling of additional market players (up to three players)
SWOT analysis of key players (up to three players)
Competitive Benchmarking
Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
Custom Research: Stratview Research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com
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Light gauge steel framing is a construction technology that employs cold-formed steel as the primary building material for roof systems, floor systems, wall systems, roof panels, and entire buildings. Light gauge steel framing offers benefits such as fast construction, low waste, high tolerance, design flexibility, and high quality.
Major factors such as the growing construction industry, investment in infrastructure projects, increasing demand for residential and commercial construction, as well as rising population and rapid urbanization, are expected to drive the market growth from 2023 to 2028.
Asia-Pacific is estimated to be dominant in the market in the coming years owing to increasing construction activities for both residential and commercial buildings, rapid urbanization, and increasing population.
Arkitech Advanced Construction Technologies, Bluescope Steel Limited, Cemco, Clarkwestern Dietrich Building Systems LLC, Craco Manufacturing Inc., FRAMECAD Ltd., Genesis Manazil Steel Framing, QSI Interiors Ltd., SCAFCO Steel Stud Company, and Steel Frame Solutions are some of the key players in the market.
