Light Gauge Steel Framing Market Business Prospects, and Leading Players Updates 2028

San Francisco, California , USA, May 26, 2022 — /EPR Network/ —

Light Gauge Steel Framing Industry Overview

The global light gauge steel framing market size was valued at USD 33.89 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 4.6% from 2021 to 2028.

A rise in construction-related activities in developing as well as developed nations is estimated to drive the overall market growth over the forecast period. Several housing schemes implemented by the governments of developing nations, such as India and China, are also expected to support the global market growth over the next eight years. In addition, various innovations, in terms of technology, have led to the development of products with improved strength, stability, and safety.

Over the coming years, these products are estimated to have increased scope of application in the commercial, industrial, and residential sectors owing to the improved strength of framing material, facilitating their use in the construction of buildings with more than three floors. However, the residential sector accounted for the highest revenue share of the global market in 2020 and is expected to grow further at a healthy CAGR from 2021 to 2028.

Gather more insights about the market drivers, restrains and growth of the Global Light Gauge Steel Framing Market

The construction projects that use light gauge steel framing are completed in a lesser amount of time as compared to those using concrete or wood as structural support, owing to pre-fabricated structures. This, in turn, is anticipated to fuel the product demand over the forecast period. 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.

On the other hand, the global COVID-19 pandemic had a significant impact on the market growth in 2020 as 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 focus on expanding their market presence through mergers and acquisitions.

Browse through Grand View Research’s HVAC & Construction Industry Research Reports.

• Submarine Cable Market – The global submarine cable market size was estimated at USD 25.50 billion in 2021 and is projected to grow at a compound annual growth rate (CAGR) of 6.1% from 2022 to 2030.
• Construction Equipment Market – The global construction equipment market size was valued at USD 112.98 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 3.9% from 2022 to 2030.

Light Gauge Steel Framing Market Segmentation

Grand View Research has segmented the global light gauge steel framing market on the basis of type, end-use, and region: 

• Light Gauge Steel Framing Type Outlook (Revenue, USD Billion, 2017 – 2028)
  • Skeleton
  • Wall Bearing
  • Long Span

• Light Gauge Steel Framing End-use Outlook (Revenue, USD Billion, 2017 – 2028)
  • Commercial
  • Residential
  • Industrial 

• Light Gauge Steel Framing Regional Outlook (Revenue, USD Billion, 2017 – 2028)
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa 

Market Share Insights

• December 2017: Nippon Light Steel Framing & Sumitomo Metal Corporation (NSSMC) get the hold of Katakura Steel Tube Co., Ltd in an equity method and made it a subsidiary.
• February 2017: ArcellorMittal and Votorantim S.A, partnered wherein Votorantim was earned by ArcellorMittal Brazil, with an annual crude steel capacity of 5.6 million tonnes and an annual rolling capacity of 5.4 million tonnes.

Key Companies profiled:

Some prominent players in Light Gauge Steel Framing market include,

• Hadley Group
• Clarkwestern Dietrich Building Systems LLC
• Precision Walls Inc.
• QSI Interiors Ltd.
• Metek U.K. Ltd.
• Intelligent Steel Solutions Ltd.
• FRAMECAD Ltd.

Order a free sample PDF of the Light Gauge Steel Framing Market Intelligence Study, published by Grand View Research.