(I-BusinessNews.Com, November 11, 2019 ) Market Outlook:-
The Global Construction sector has gained massive traction in the past few years owing to the enormous rise in demand for new residential complexes, infrastructural elements, and commercial.
The industry has seen a notable inclination towards cost-saving methods and minimization of material wastage. Light gauge steel framing systems are becoming popular in the construction industry due to the systems’ unique lightweight characteristic which makes them comfortable and safe to handle both during fabrication and construction. These systems are increasingly being used in commercial, residential and industrial sectors.
Market Dynamics:-
The market for Light Gauge Steel framing systems is mainly driven by the increasing adoption of steel in the construction activities because of its benefits over concrete. There has been a spurt in the use of steel in construction recently. The builders are increasingly deploying lightweight steel in development because of its low cost, high strength-to-weight ratio, corrosion resistance, and flexibility.
Light gauge steel long roof and floor span capabilities also add to its diversity. Also, the use of light indicator reduces the construction time, thus ensuring higher profits for the builders. The advantages associated with the adoption of light gauge steel framing system will continue to boost the market in during the period 2019-2026.
Market Segmentation:-
The Light Gauge Steel Framing market segments the market by type and end-use. Type segment includes skeleton, wall bearing, and long span. The skeleton framing is estimated to be the fastest growing segment during the forecast period. Skeleton steel frame is composed of steel beams and columns which are connected using a proper connection.
Skeleton framing is constructed in a rectangular shape to support the walls, roof, and floors of a building which are combined with the frames; this makes the construction of skyscrapers easily possible. As the development of multi-storied buildings is increasing rapidly due to the growing population and urbanization, the market for skeleton steel framing system will flourish in the coming years.
Wall bearing frame is the interior or exterior end of the building wall and is used to carry the load of the structural members that support floor and roof. Wall bearing framing is suitable for the construction of a low rise structure. This is because the size of the bearing wall must be increased significantly to withstand considerably loads exerted in the case of multi-story buildings.
So, the wall bearing framing system is primarily dependent on the residential sector, as this system is suitable for single-story buildings. Lane span steel framing system is used when large clearance is required, and such long spanning cannot be realized using steel beams. It is used in the construction of open web arches like the construction of roller beams, riveted beams, and massive girder.
Further by end-use, the market has been segmented as Commercial, Industrial, and Residential.
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Geographical Trends:-
Geographically, the market is divided into North America, Europe, South America, Asia-Pacific and theMiddle East & Africa.
Asia-Pacific is the most dominant region for Light gauge steel framing market. The high market share of APAC can be attributed to the increasing construction activities in the commercial and industrial sector especially in the developing countries like India, China, and Southeast Asian countries. Also, there has been a massive surge in the construction projects in the region to meet the residential requirements of the exponentially rising population. As the construction industry will continue to flourish in the coming years, the demand for Light gauge steel framing systems will keep on increasing in the region.
Competitive Landscape:-
Some of the major key players in the market are Saint Gobain SA, Bluescope Steel Limited, Cemco, ClarkDietrich Building Systems, Quail Run Building Materials, Inc., Nipani Infra & Industries, FRAMECAD, Genesis Manazil Steel Framing, Emirates Building Systems, QSI Interiors Ltd.
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