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.
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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.
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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
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.