Light Gauge Steel Framing Market size is anticipated to reach USD 72 Billion by the end of 2036, growing at a CAGR of 5% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of the light gauge steel framing was over USD 37 Billion. It is predicted that a notable increase in construction activity in both developed and emerging countries will fuel the need for light gauge framing. An important part of the American economy is the construction sector. For instance, In the first quarter of 2023, there were over 919,000 construction establishments in the United States. Also, over USD 4.35 trillion was produced in China's construction industry in 2022, an almost 100% increase over the previous decade. Also, the governments of numerous developing countries are anticipated to implement several housing programs, which are expected to assist worldwide market expansion.
The construction sector is subject to strict deadlines set by clients for project completion. Because light gauge framing is simple to construct, it has significantly reduced project completion times, allowing for the satisfaction of client needs. Furthermore, because of its benefits, steel framing technology has been frequently used in recent years in construction projects including skyscrapers and multistory buildings.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
~ 5% |
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Base Year Market Size (2023) |
~ USD 37 Billion |
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Forecast Year Market Size (2036) |
~ USD 72 Billion |
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Regional Scope |
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Product Type (Skeleton Steel Framing, Wall Bearing Steel Framing, Long Lifespan Steel Framing)
Wall bearing steel framing segment for the light gauge steel framing market is poised to hold the largest share of 44% during the projected period. Residential applications make substantial use of wall-bearing frame constructions. They are mostly appropriate for low-rise buildings and sustain the floor or roof loads of the building. These frameworks must have sufficient strength to withstand any horizontal load. Wall-bearing frames are typically inappropriate for multi-story buildings since the bearing size must expand to meet the loads generated by these structures. The segment is growing due to the growing demand for robust and reliable structural solutions in the construction industry. Furthermore, advancements in manufacturing techniques and the availability of standardized components have made wall-bearing steel framing more accessible and cost-effective. Therefore, these factors are contributing to the expansion of wall bearing steel framing segment.
End-use (Commercial, Industrial, Residential)
Light gauge steel framing market for the residential segment is expected to hold a share of 42% during the foreseen period. The rise in growth of the residential construction sector can be ascribed to the growing need for cost-effective and environmentally friendly dwelling options. Light gauge framing meets the demands of the residential industry by offering economical and effective building solutions. It is ideally suited for a variety of residential applications due to its innate strength, durability, and design flexibility. Furthermore, the growing focus on eco-friendly construction methods and energy efficiency is driving the residential market's use of light gauge framing. As per a report, in the US, the green construction industry was estimated to be valued at USD 83 billion. Also, compared to non-certified structures in Germany, investments in green buildings totalled around USD 15.29 billion less in 2022. Therefore, these factors are propelling the growth of the residential segment.
Our in-depth analysis of the global market includes the following segments:
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Product Type |
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Location |
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End-user |
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APAC Market Forecast
Light gauge steel framing market in Asia Pacific is expected to hold the largest share of 37% by the end of 2036. The expanding construction activities in the region, particularly for commercial and industrial buildings, are credited with the rise of the regional market. Among the region's principal markets are China, India, and the countries of Southeast Asia. The enormous growth of the regional market is largely due to the large public and private expenditures made in these nations in the development of infrastructure and the creation of commercial spaces. As per a report, 61 % of respondents to a 2020 survey on the importance of infrastructure investments for future economic growth in a few Asia Pacific countries agreed that infrastructure development would be essential to Japan's economic expansion in 2020. Further, by 2025, it's anticipated that India's construction industry will generate USD 1.4 trillion.
European Market Statistics
European light gauge steel framing market is anticipated to hold a share of 26% during the forecast period. Across Europe, these structures are finding more and more use in various commercial and industrial contexts. The ability of structures to withstand seismic loads and, consequently, earthquakes is increasing. The employment of contemporary civil engineering techniques in the building sector is subject to stringent government rules and regulations, which has contributed to the growth of the European market. Because it produces no pollution and provides raw materials for green construction technology, it is attractive to users.
Author Credits: Mohd Shadab, Yashika Karodiwal
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