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Light Gauge Steel Framing Market Analysis | 2023-2028
Light Gauge Steel Framing Market Size, Share, Trends, Dynamics, Forecast, & Growth Analysis: 2023-2028
The light gauge steel framing market was estimated at USD 36.29 billion in 2022 and is likely to grow at a CAGR of 4.44% during 2023-2028 to reach USD 49.41 billion in 2028.
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Light-gauge steel framing is a construction technology that employs cold-formed steel as the primary building material for roof systems, floor systems, wall systems, roof panels, and entire buildings. Light-gauge steel framing offers benefits such as fast construction, low waste, high tolerance, design flexibility, and high quality.
These factors are expected to boost the demand for the market in the coming years:
Furthermore, increasing adoption of light gauge steel framing in construction activities is due to its low cost, quick construction, and durability.
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Construction remains one of the key industries that all the key light gauge steel framing suppliers are targeting today. The following are some of the key players in the light gauge steel framing market:
Note: The above list does not necessarily include all the top players in the market.
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Segmentations |
List of Sub-Segments |
Segments with High Growth Opportunity |
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Product Type Analysis |
Skeleton Steel Framing, Wall Bearing Steel Framing, and Long Span Steel Framing |
Skeleton steel framing is expected to grow at the highest CAGR during the forecast period. |
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End-User Type Analysis |
Residential, Commercial, and Industrial |
The commercial segment dominates the market. |
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Regional Analysis |
North America, Europe, Asia-Pacific, and Rest of the World |
Asia-Pacific is expected to remain the largest market for light gauge steel framing over the forecast period. |
The market is bifurcated into skeleton steel framing, wall bearing steel framing, and long-span steel framing. Skeleton steel framing is expected to grow at the highest CAGR during the forecast period. Key factors driving the growth of the segment are increasing construction activities across the globe and growing demand for skeleton steel framing for commercial construction projects. Furthermore, skeleton steel framing offers excellent stability and strength and can be used for single and multi-story buildings. This, in turn, is likely to fuel the segment's growth over the next five years.
The market is segmented as residential, commercial, and industrial. Among these end-user types, the commercial segment dominates the market. Light gauge steel framing is majorly used in commercial buildings, schools, hospitals, and offices. Furthermore, increasing demand for commercial construction, particularly in developing economies, is expected to drive the growth of the segment during the assessment period.
Asia-Pacific is expected to remain the largest market for light gauge steel framing over the forecast period. Furthermore, the region is expected to experience healthy market growth in the coming years. Increasing construction activities for both residential and commercial buildings, rapid urbanization, and increasing population are driving the growth of the region's market. In addition, increasing investment by the government for infrastructural development and growing awareness about minimizing funding for construction projects are expected to drive the region's market growth during the assessment period.
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This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s light gauge steel framing market realities and future market possibilities for the forecast period of 2023 to 2028. After a continuous interest in our light gauge steel framing market report from the industry stakeholders, we have tried to further accentuate our research scope to the light gauge steel framing market to provide the most crystal-clear picture of the market. The report segments and analyses the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:
This report studies the market, covering a period of 12 years of trends and forecasts. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.
The light gauge steel framing market is segmented into the following categories:
By Product Type
By End-User Type
By Region
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With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Competitive Benchmarking
Custom Research: Stratview Research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected].
Light-gauge steel framing is a construction technology that employs cold-formed steel as the primary building material for roof systems, floor systems, wall systems, roof panels, and entire buildings. Light-gauge steel framing offers benefits such as fast construction, low waste, high tolerance, design flexibility, and high quality.
The light gauge steel framing market was estimated at USD 36.29 billion in 2022.
The forecasted value of the light gauge steel framing market is expected to be USD 49.41 billion in 2028.
The light gauge steel framing market is likely to grow at a CAGR of 4.44% during 2023-2028.
Major factors such as the growing construction industry, investment in infrastructure projects, increasing demand for residential and commercial construction, as well as rising population and rapid urbanization, are expected to drive the market growth from 2023 to 2028.
Asia-Pacific is estimated to be dominant in the market in the coming years owing to increasing construction activities for both residential and commercial buildings, rapid urbanization, and increasing population.
Skeleton steel framing is expected to grow at the highest CAGR during the forecast period.
Arkitech Advanced Construction Technologies, Bluescope Steel Limited, Cemco, Clarkwestern Dietrich Building Systems LLC, Craco Manufacturing Inc., FRAMECAD Ltd., Genesis Manazil Steel Framing, QSI Interiors Ltd., SCAFCO Steel Stud Company, and Steel Frame Solutions are some of the key players in the market.
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