Light Gauge Steel Framing Market to reach Bn by 2024

Posted by Miller on December 17th, 2019

The global light gauge steel framing market is expected to grow at a moderate pace during the forecast period. This can be attributed to the increasing investments in infrastructure development and several benefits associated with the light gauge steel framing. However, the high maintenance costs for making it corrosion and fire resistant might hamper the market growth.

The global light gauge steel framing market is expected to grow with 4.8% CAGRfrom 2019 to 2024.

Key Players

The prominent players operating in the global light gauge steel framing market areMetek 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.

Asia-Pacific is anticipated to witness the maximum growth rate in the globalLight Gauge Steel Framing market: MRFR

Geographically, the global light gauge steel framing market has been segmented into four major regions, namely North America, Europe, Asia-Pacific, and the rest of the world (RoW). In 2018, Asia-Pacific accounted for the largest market share and is expected to have a high growth rate during the forecast period, which can be attributed to the growing construction industry in the region. Moreover, there has been an increasing need for corporate spaces, hotels, shopping malls, schools, hospitals, and other commercial buildings in Asia-Pacific due to the rapid urbanization and industrialization. The growing market for light gauge steel framing in countries such as China, India, and Japan are expected to significantly contribute to the growth of the market owing to the the increasing real estate investment and growing number of Special Economic Zones (SEZs) in the countries.

Scopof the Report

This study provides an overview of the global 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.

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