San Francisco, 6 September 2018; The global lightgauge 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.
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Research Report on 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.
View 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
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research report by Grand View Research:
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.