Light Gauge Steel Market: Overview
- Light gauge steel is structural quality steel sheet, which is formed into shapes either through press-braking blanks sheared from sheets or coils, or more commonly, by roll forming the sheet through a series of dies
- Light gauge steel is essentially framed and used in various applications. These frames can be used throughout a structure, including load-bearing exterior walls, non-load bearing interior walls, floor joists, curtain walls, and roof trusses.
- The use of modern construction techniques is encouraging users to opt for light gauge steel owing to its light weight and recyclable property. Additionally, light gauge steel is found to be cost effective in the formation of civil structures compared to traditional clay, stone, or brick.
- Light gauge steel is usually used in residential and industrial construction such as office buildings, steel structure workshops, warehouses, and stadiums. Rapid growth in the construction sector across the globe is likely to boost the global light gauge steel market in the near future.
Key Drivers of Global Light Gauge Steel Market
- Demand for light gauge steel market is increasing owing to expansion in the construction industry. The use of light gauge steel results in less wastage, less number of personnel, and increase in speed of construction.
- Various organizations provide industry-wide support, including development of codes and standards, to promote research activities in light gauge steel. This is anticipated to propel the light gauge steel market in the next few years.
Asia Pacific to Hold Major Share of Global Light Gauge Steel Market
- Based on region, the global light gauge steel market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific dominated the global light gauge steel market in 2019. The market in the region is estimated to expand at a rapid pace during the projected period. This can be ascribed to abundant availability of raw materials, favorable manufacturing regulations, rise in government initiatives, rapid growth in population, and expansion in building & construction activities in the region. China and India are projected to constitute large share of the market in Asia Pacific during the forecast period.
- Increase in urbanization and rise in government spending on infrastructure are estimated to propel infrastructure development in the building & construction industry in Asia Pacific. This is likely to boost the light gauge steel market in the region.
- North America held vital share of the market in 2019 owing to revival of construction activities, especially in the U.S. This is a major factor that is anticipated to propel the demand for light gauge steel in the region during the forecast period.
- Europe constituted moderated share of the global light gauge steel market in 2019. The market in the region is likely to expand at a healthy pace during the forecast period.
- Middle East & Africa and Latin America held low share of the light gauge steel market in 2019. The market in these regions is estimated to expand at a sluggish pace during the forecast period.
Key Players in Light Gauge Steel Market
Leading players operating in the global light gauge steel market include:
- Tata BlueScope Steel
- Beijing New Building Material (Group) Co., Ltd.
- Clarkwestern Dietrich Building Systems LLC
- Emirates Building Systems
- Quail Run Building Materials, Inc.
- Nipani Infra & Industries
- MRI Steel Framing LLC
- FRAMECAD Ltd.
- QSI Interiors Ltd.
- Steel Frame Solutions
- Saint Gobain SA
- Arkitech Advanced Construction Technologies
- Stowell Company Inc.
- ClarkDietrich Building Systems
Global Light Gauge Steel Market: Research Scope
Global Light Gauge Steel Market, by Type
- C Shaped
- U Shaped
- T Shaped
- Others (including Z Shaped)
Global Light Gauge Steel Market, by Application
- Wall System
- Flooring System
- Roof System
- Others (including Accessories)
Global Light Gauge Steel Market, by Application
Global Light Gauge Steel Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
Disclaimer: This ongoing market research study is a meticulously planned activity where a broad array of factors and aspects that shape the marketing environment and industry are taken into account. However, keeping in mind the constantly changing nature of business dynamics and changing strategic intents, we are always actively making iterations and modifications in our approaches. As always, we are ready to tailor our insights and guidance to suit your requirements. Engage with us to know what more is there for your CXOs.