Light Gauge Steel Framing Market Size & Share, by Product Type (Skeleton Steel Framing, Wall Bearing Steel Framing, Long Lifespan Steel Framing); Location (Interior, Exterior); End-use (Commercial, Industrial, Residential) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5569
  • Published Date: Jan 24, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

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.


Light Gauge Steel Framing Market overview
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Light Gauge Steel Framing Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

~ 5%

Base Year Market Size (2023)

 ~ USD 37 Billion

Forecast Year Market Size (2036)

 ~ USD 72 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Light Gauge Steel Framing Sector: Growth Drivers and Challenges

Market-Growth-Drivers

Growth Drivers

  • Growing Popularity of Modular and Prefabricated Building - Steel frames are easily formed to meet precise structural and architectural requirements. Because of its versatility, architects, and builders can create unique structures through creative customization and design. Light gauge steel frames provide design freedom when building modular classrooms for educational facilities. Off-site production is possible for steel frames with custom dimensions, allowing for distinctive classroom configurations and architectural features. The light gauge steel framing's quality control qualities could be advantageous for a healthcare institution's modular building project. Strict quality controls are applied to the steel frames during their controlled manufacturing process to guarantee the structural precision and integrity required for essential healthcare infrastructure.
  • Growing Technological Advancements - New technologies such as automation, 3D printing, and robots are transforming the construction industry. Light gauge frame systems can readily integrate these technologies, which lowers their cost and increases efficiency. Technology has streamlined material consumption and decreased waste in steel framing. In addition, labor expenses have decreased as a result of some tasks becoming automated. Steel frame creation has also been significantly faster because of improved production processes and design software. BMI technology, for example, makes it possible to combine different design and construction components into a single digital model. This facilitates communication between various stakeholders and guarantees a more precise and efficient construction process.
  • Retrofitting Existing Structures - During retrofitting projects, light gauge framing enables more effective use of available space. Since the material is lightweight, it is simpler to alter and add new components to existing buildings without sacrificing the building's structural integrity. Light gauge framing also has design freedom, which makes it appropriate for retrofitting projects that call for customization. When restoring existing structures, they may be easily bent and adjusted to match unique architectural needs, allowing for imaginative and novel solutions. Also, the main strategies to lower the sector's energy use are energy-efficient new construction and retrofits for already-existing structures. As per a report, up to 80% of the stock is anticipated to consist of existing buildings in various countries by 2030; retrofits are particularly crucial for increasing energy efficiency in these buildings. 

Challenges

  • Lack of Awareness about the Benefits of Light Gauge Framing - The construction sector is well known for its aversion to change, especially when it comes to adopting novel materials and techniques. Some stakeholders find it challenging to switch to light gauge framing because of ingrained routines and familiarity with earlier construction techniques. Opposition to change may stem from concerns about potential disruptions in the future, the need to retrain personnel, and doubts about the long-term feasibility and efficacy of a light gauge steel frame. Therefore, this factor may hamper the growth of the light gauge steel framing market.
  • Shortage of Skilled Labor Force may Hinder the Market Growth
  • The Complex Nature of Designing may Hamper the Light Gauge Steel Framing Market


Light Gauge Steel Framing Segmentation

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:

          Product Type

  • Skeleton Steel Framing
  • Wall Bearing Steel Framing
  • Long Lifespan Steel Framing

          Location

  • Interior
  • Exterior

          End-user

  • Commercial
  • Industrial
  • Residential

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Light Gauge Steel Framing Industry - Regional Synopsis

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.

Research Nester
Light Gauge Steel Framing Market size
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Companies Dominating the Light Gauge Steel Framing Landscape

top-features-companies
    • MiTek Inc
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Forsee Power
    • Etex
    • Divergent Technologies Inc
    • AECOM

In-the-news

In The News

  • August 2021 - Etex, steadfast in its pursuit of becoming the world's foremost offsite construction company, has announced the acquisition of Sigmat, the leading player in the UK light gauge steel framing (LGSF) sector. This transaction completes the purchases of Irish LGSF player Horizon Offsite and design and engineering consulting firm Evolusion Innovation. The company is well-positioned to profit from the expanding offsite construction market in the UK and Ireland as a result of these acquisitions and Etex's current UK operations.
  • December 2022 - Divergent Technologies Inc., a leader in green manufacturing technologies with the first modular digital factory for the automobile sector, announced a USD 100 million investment from Hexagon AB, a global leader in digital reality solutions combining sensor, software, and autonomous technologies.

Author Credits:  Mohd Shadab, Yashika Karodiwal


  • Report ID: 5569
  • Published Date: Jan 24, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Growing popularity of modular and prefabricated building, growing technological advancements and retrofitting existing structures are the major factors driving the growth of the light gauge steel framing market.

The market size of light gauge steel framing is anticipated to attain a CAGR of 5% over the forecast period, i.e., 2024-2036.

The major players in the market are MiTek Inc., Forsee Power, Etex, Divergent Technologies Inc., AECOM, Komatsu Ltd., NTT Facilities, Inc., Deloitte Tohmatsu Consulting LLC, Panasonic Corporation, Mitsui Fudosan Co., Ltd. and others.

The wall bearing steel framing segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Light Gauge Steel Framing Market Report Scope
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