Market Overview
The
Global Light Gauge Steel Framing Market is expected to reach a value of
USD 39.9 billion in 2023, and it is further anticipated to reach a market value of
USD 63.4 billion by 2032 at a
CAGR of 5.3%. The market has seen a significant increase in the recent past and is predicted to grow significantly during the forecasted period as well.
Light-gauge steel framing systems include structural frames made from cold-formed steel sections. These frames, mostly coated with a zinc-aluminum mix or zinc for corrosion protection, serve many purposes within a structure, including load-bearing exterior walls, non-load-bearing interior walls, roof trusses, curtain walls, & floor joists.
The growth of construction activities, covering both developing & developed nations, plays a major role in driving the growth of the light-gauge steel framing market. Advancements in technology, leading to stronger, safer, & more stable products, integrated with strict governmental regulations promoting advanced construction techniques, further boost the market's growth.
Light Gauge Steel Framing (LGSF) continues to experience growth as more construction professionals recognize its numerous advantages for cost-cutting, durability and energy savings projects. LGSF is quickly becoming a mainstream choice among residential, commercial and industrial projects alike due to its many beneficial properties.
Market demand for steel fabrication materials has seen steady increases over time due to rapid urbanization and infrastructure development in emerging economies. Technological advancements, automation in steel fabrication, and efficiency gains have further enhanced this material's popularity across various sectors.
LGSF market opportunities are quickly expanding, particularly in regions focused on green building initiatives and sustainable development. Prefabricated and modular construction techniques have created new avenues for LGSF in residential housing as well as commercial real estate properties. As environmental impact awareness rises, their role in reducing carbon footprints and improving energy performance creates compelling growth prospects in this segment of the market.
Light Gauge Steel Framing (LGSF) market has experienced exponential expansion over recent years, with steel production for construction increasing by over 3% each year and use of LGSF increasing by 20% annually in residential construction - accounting for more than 12% of framing materials alone in the U.S. At least 15% of new buildings incorporate LGSF solutions globally.
Construction industry trends show that over 40% of commercial buildings now utilize LGSF systems, reflecting their advantages in speed and sustainability. Their popularity is particularly evident in the Middle East where infrastructure projects are growing at 5% annually while in Asia they're growing at over 6% year over year, particularly India and China where rapid urbanization drives demand.
Market Dynamic
In the
construction sector, meeting constrained project timelines is critical. Light gauge framing's quick installation has significantly lowered project completion times, aligning with customer expectations. This technology has acquired ground in projects such as skyscrapers & multi-story buildings due to its benefits.
The flexibility of light gauge frames secures cracking under pressure, & their gradual deformation during earthquakes allows residents a lot of escape time. In addition, earthquake-prone countries such as Japan & Indonesia are anticipated to quickly adopt light gauge framing for better construction resilience. These trends & factors are anticipated to further drive the market over the forecasted period.
However, the market's expansion is challenged by steel's significant thermal conductivity. Various alternatives to light gauge steel framing, like lumber framing & traditional/RCC construction, also limit growth. To overcome this, light gauge steel framing is galvanized for enhanced fire insulation, making it a preferable choice over other methods. It is endorsed for its quick deployment, cost-effectiveness, strong resistance to termites, & flexibility.
Research Scope and Analysis
By Type
Categorized by type, the market is segmented into three parts which are wall-bearing steel framing, skeleton steel framing, & long-span steel framing. In 2023, the wall-bearing framing type contributes the largest portion of the market, a trend expected to sustain throughout the forecast period. Wall-bearing frame structures find a wide range of applications in residential settings.
They drive the load of a building's floors or roofs, making them particularly appropriate for low-rise constructions. These frames require substantial strength to effectively withstand lateral loads. However, the inapplicability of wall-bearing frames for multi-story buildings has grown due to the necessity of expanding the bearing size to accommodate the loads imposed by such structures.
Further, major growth in the long-span steel framing type is also anticipated owing to growing use in multi-story structures. This framing suits spacious demand in commercial & industrial buildings. Its versatility excels in creating visually appealing architecture such as churches, gyms, and malls. Long-span framing comprises trusses, girders, arches, & rigid frames, serving numerous construction purposes efficiently.
By End User
The market is divided by its main users industrial, commercial, & residential. Among these, the commercial sector, which includes places like hospitals, malls, and schools, is set to experience the fastest growth. Hospitals & malls, in particular, are expected to make good use of light gauge framing due to its cost-effectiveness, safety features, & fire resistance. These advantages are driving the demand for commercial construction using these framing methods.
Moreover, in the coming years, the industrial sector is also anticipated to adopt light gauge steel framing. Technological progress has strengthened the fire resistance & sound performance of this framing method, driving its growth in industrial construction like airports, warehouses, and factories. Primarily, long-span and skeleton steel frames take the lead in constructing industrial buildings.
The Global Light Gauge Steel Framing Market Report is segmented on the basis of the following:
By Type
- Skeleton Steel Framing
- Wall Bearing Steel Framing
- Long Span Steel Framing
By End User
- Residential
- Industrial
- Commercial
Regional Analysis
In 2023, the Asia Pacific region secures a significant market share, contributing
about 37.5% of the total revenue in the Global Light Gauge Steel Framing Market. The regional market is on a growing trajectory, majorly due to the growth in construction activities, mainly in the commercial & industrial sectors. Further, major markets in this context include influential players like China, India, & various Southeast Asian nations.
Notably, these regions are noticing significant public & private investments focusing on improving infrastructure & constructing commercial spaces. These investments are acting as major drivers significantly fueling the growth of the regional market.
By Region
North America
Europe
- Germany
- The U.K.
- France
- Italy
- Russia
- Spain
- Benelux
- Nordic
- Rest of Europe
Asia-Pacific
- China
- Japan
- South Korea
- India
- ANZ
- ASEAN
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Egypt
- Rest of MEA
Competitive Landscape
Major players within the global light gauge steel framing market contain a range of strategies for growth. These include both organic & inorganic methods, including partnerships, collaborations, mergers, acquisitions, joint ventures, & the constant development of new products. By incorporating these approaches, these market players efficiently enhance their positions & capitalize on emerging opportunities within the industry.
For instance, in June 2023, Etex Group, operating across 45 countries, including the UK, introduced the Remagin brand, with an initiative to merge three existing steel frame manufacturers, namely Sigmat from Yorkshire, EOS based in County Durham, & Horizon in Ireland, to give a complete, end-to-end service to clients. With an aim on diverse residential projects including houses, flats, retirement living, care homes, hotels, & student accommodations along with ventures in
education &
healthcare, while doubling Remagin's turnover by 2030.
Some of the prominent players in the Global Light Gauge Steel Framing Market are:
COVID-19 Pandemic & Recession: Impact on the Global Light Gauge Steel Framing Market:
The global light gauge steel framing market saw a significant impact due to the COVID-19 pandemic and the following economic recession. Lockdowns & supply chain issues led to disruptions & delays in construction projects. Further, growing uncertainty led to a tight investment approach, impacting new construction projects. However, as economies started recovering & adjusting, the market started to recover, fueled by the need for enhanced construction solutions & the continued interest in cost-effective & sustainable building techniques. The market is anticipated to experience further growth in the near future.
| Report Characteristics |
| Market Size (2023) |
USD 39.9 Bn |
| Forecast Value (2032) |
USD 63.4 Bn |
| CAGR (2023-2032) |
5.3% |
| Historical Data |
2017 - 2022 |
| Forecast Data |
2023 - 2032 |
| Base Year |
2022 |
| Estimate Year |
2023 |
| Report Coverage |
Market Revenue Estimation, Market Dynamics, Competitive Landscape, Growth Factors and etc. |
| Segments Covered |
By Type (Skeleton Steel Framing, Wall Bearing Steel
Framing and Long Span Steel Framing), By End User
(Residential, Industrial and Commercial) |
| Regional Coverage |
North America – The US and Canada; Europe – Germany, The UK, France, Russia, Spain, Italy, Benelux, Nordic, & Rest of Europe; Asia- Pacific– China, Japan, South Korea, India, ANZ, ASEAN, Rest of APAC; Latin America – Brazil, Mexico, Argentina, Colombia, Rest of Latin America; Middle East & Africa – Saudi Arabia, UAE, South Africa, Turkey, Egypt, Israel, & Rest of MEA
|
| Prominent Players |
Intelligent Steel Solution Ltd, Precision Walls Inc,
Metek UK Ltd, FRAMECAD Ltd, QSI Interiors Ltd,
CEMCO, Carco Manufacturing Inc, Steel Frame
Solutions, The Steel Network Inc, Hadley Group, and
Other Key Players |
| Purchase Options |
We have three licenses to opt for: Single User License (Limited to 1 user), Multi-User License (Up to 5 Users), and Corporate Use License (Unlimited User) along with free report customization equivalent to 0 analyst working days, 3 analysts working days and 5 analysts working days respectively. |
Frequently Asked Questions
The Global Light Gauge Steel Framing Market is estimated to reach USD 39.9 billion in 2023, which is
further expected to reach USD 63.4 billion by 2032.
Asia Pacific dominates the Global Light Gauge Steel Framing Market with a share of 37.5% in 2023.
Some of the major key players in the Global Light Gauge Steel Framing Market are CEMCO, Metek UK
Ltd, FRAMECAD Ltd, and many others.
The market is growing at a CAGR of 5.3 percent over the forecasted period.