The report on the Light Gauge Steel Framing Market has been launched by Stratview Research is an all-inclusive report that talks about the market structure and growth in the forecast period of 2022-2027. The report also offers insights into different market segments and other factors affecting the market.
Report Forecast:
The light gauge steel framing market is estimated to grow at a decent CAGR of 4.5% during the forecast period. Major factors such as the growing construction industry, investment in infrastructure projects, increasing demand for residential and commercial construction, as well as rising population and rapid urbanization, are expected to drive the market growth during the forecast period. Furthermore, increasing adoption of light gauge steel framing in construction activities due to its low cost, quick construction, and durability is likely to accelerate the growth of the market in the coming years.
The market's growth is influenced by a number of factors that have a significant or indirect impact on demand. An overview of such factors can be found in our report, which is derived utilizing SWOT analysis, industry life cycle, and supply chain analysis. Such key information can help market participants and investors identify the low-hanging fruits in the market and establish strategic initiatives to accelerate their growth.
COVID-19 IMPACT on the Market-
The COVID-19 pandemic has influenced almost all the industries, little or large, dealing in any sector.
The growth curves of Light Gauge Steel Framing market have witnessed enormous ebb and flows in the year 2020. The market scenario and the pace of growth have taken a huge turn and have prompted numerous adjustments in the cycles. 2021 is probably going to be superior to 2020 for the Light Gauge Steel Framing market players as the greater part of the organizations have continued their activities and the interest is getting re-established for them.
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Light Gauge Steel Framing Market Segmentation:
The report segments based upon demographics, geographics, benefits and volume etc, has different leading factors and identifies the most-attractive segments and sub-segments. The market segmentation will not only help marketers to be more efficient in terms of time, money and other resources but also allows companies to learn about their target audience so that they can tailor campaigns that leads a roadmap to success.
The Light Gauge Steel Framing Market is segmented into the following categories.
By Product Type
The market is bifurcated into skeleton steel framing, wall bearing steel framing, and long span steel framing. Skeleton steel framing is expected to grow at the highest CAGR during the forecast period. Key factors driving the growth of the segment are increasing construction activities across the globe and growing demand for skeleton steel framing for commercial construction projects. Furthermore, skeleton steel framing offers excellent stability and strength and can be used for single and multi-story buildings. This, in turn, is likely to fuel the segment's growth over the next five years.
By End-User Type
The market is segmented as residential, commercial, and industrial. Among these end-user types, the commercial segment dominates the market. Light gauge steel framing is majorly used in commercial buildings, schools, hospitals, and offices. Furthermore, increasing demand for commercial construction, particularly in developing economies, is expected to drive the growth of the segment during the forecast period.
Regional Analysis
Asia-Pacific is expected to remain the largest market for light gauge steel framings over the forecast period. Furthermore, the region is expected to experience healthy market growth in the coming years. Increasing construction activities for both residential and commercial buildings, rapid urbanization, and increasing population are driving the growth of the region's market. In addition, increasing investment by government for infrastructural development and growing awareness about minimising funding for construction projects are expected to drive the region's market growth during the forecast period.
Report Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
- Company Profiling
- Detailed profiling of key market players (up to 3 players)
- SWOT analysis of key market players (up to 3 players)
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