The global light gauge steel framing market size is expected to reach USD 43.65 billion by
2025, according to a new report by Grand View Research, Inc. It is anticipated
to expand at a CAGR of 4.7% over the forecast period. This growth is ascribed
to development of advanced materials with capabilities that offer safety as
well as strong structural support. Light gauge steel framing provides ease of
installation and reduce cumulative project completion period owing to its
pre-fabricated structures. This factor is anticipated to further drive market
growth considerably over the next few years.
Key factor expected to
drive the market is the need to lower production costs involved in building
construction. This need is projected to result in development of refined
materials and manufacturing processes, ultimately boosting adoption of light
gauge steel frames across the globe. The commercial segment is expected to
witness significant rise in demand over the forecast period, owing to improved
strength of frame material that makes it suitable in the construction of
buildings with more than three floors.
Access Research Report of Light Gauge Steel Framing Market @:
www.grandviewresearch.com/industry-analysis/light-gauge-steel-framing-market
Further key findings from the report suggest:
· Skeleton steel framing is expected to
witness around 5% CAGR over the forecast period owing to benefits offered by
these structures. However, in 2016, wall bearing framing structures captured
the highest market revenue share
· Several government initiatives for
infrastructure development have led to an increase in construction of
commercial properties across the globe, which has subsequently contributed to
market growth
· Residential was the dominant end-use
segment in 2016 and is expected to witness a CAGR of more than 4% owing to rising
adoption driven by the need to reduce project completion time
· Asia Pacific dominated the market in 2016
owing to increasing construction of new commercial and industrial buildings,
particularly in Southeast Asian countries
· Key players such as FRAMECAD, Emirates
Building Systems LLC, Genesis Manazil Steel Framing, and QSI Interiors Ltd
dominated the market in 2016 owing to emphasis on expanding their market
presence through mergers and acquisitions.
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/hvac-and-construction-technologies
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, 2014 - 2025)
·
Skeleton
·
Wall Bearing
·
Long Span
Light Gauge Steel Framing End-Use Outlook (Revenue, USD
Billion, 2014 - 2025)
·
Commercial
·
Residential
·
Industrial
Light Gauge Steel Framing Regional Outlook (Revenue, USD
Billion, 2014 - 2025)
·
North America
o
U.S.
o
Canada
·
Europe
o
U.K.
o
Germany
o
France
·
Asia Pacific
o
China
o
India
o
Japan
·
Latin America
o
Brazil
o
Mexico
·
Middle East & Africa
Access Press Release of
Light Gauge Steel Framing Market@: www.grandviewresearch.com/press-release/global-light-gauge-steel-framing-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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