The Light Gauge Steel Framing Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Light Gauge Steel Framing Global Market Report 2024, The light gauge steel framing market size has grown steadily in recent years. It will grow from $34.67 billion in 2023 to $35.79 billion in 2024 at a compound annual growth rate (CAGR) of 3.2%. The growth in the historic period can be attributed to industrialization and urbanization, housing market trends, regulatory changes and standards, economic cycles and construction industry, consumer preferences and aesthetics.
The light gauge steel framing market size is expected to see steady growth in the next few years. It will grow to $40.87 billion in 2028 at a compound annual growth rate (CAGR) of 3.4%. The growth in the forecast period can be attributed to industry collaboration and standards development, urbanization and population growth, shift in construction techniques, prefabricated and modular construction, resilience to natural disasters. Major trends in the forecast period include skilled labor availability, sustainable construction, modular and prefabricated construction, rise in urbanization, energy efficiency standards.
The rising construction activities are expected to drive the growth of the light gauge steel framing market. Cold-formed steel is widely used as the principal construction material in the light gauge steel frame for roofs, floors, walls, roof panels, decks, and the complete structures of buildings. The rapid growth in construction is expected to boost the utilization of light gauge steel framing, as these are an essential part of construction activities. For instance, in October 2021, according to a report published by Oxford Economics, a UK-based economic information services company, the global construction output was $10.7 trillion in 2020, and between 2020 and 2030, it is anticipated to increase by 42%, or $4.5 trillion, to reach USD 15.2 trillion. Therefore, an increase in construction activities is expected to boost demand for light gauge steel framing during the forecast period.
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The light gauge steel framing market covered in this report is segmented –
1) By Type: Skeleton, Wall Bearing, Long Span
2) By End-Use: Commercial, Residential, Industrial
Major companies in the light gauge steel framing market are focused on developing innovative systems, such as panelized systems, to revolutionize offsite construction and maximize their profits in the market. A panelized system is a construction method where building components, such as walls and floors, are prefabricated in panels offsite and then assembled on-site for greater efficiency and speed. For instance, in May 2022, Intrastack, a UK-based provider of frame systems, launched a panelized steel-frame system for the UK’s building sector, facilitating the efficient construction of multi-storey, multi-occupancy residential and commercial projects. This light gauge steel frame is certified by NHBC Stage 1, offers flexibility for various building types, and achieves 120 minutes of fire performance. Manufactured at Saint-Gobain’s Modern Methods of Construction facility, these panelized systems enhance construction speed by up to 50% compared to traditional methods.
The light gauge steel framing market report table of contents includes:
1. Executive Summary
- Market Characteristics
- Market Trends And Strategies
- Impact Of COVID-19
- Market Size And Growth
- Segmentation
- Regional And Country Analysis
…….. - Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential AnalysisContact Us:
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