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Steel Grating Market to Witness Exponential Growth | 2024

04-03-2018 03:30 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Transparency Market Research Reports

/ PR Agency: Transparency Market Research Reports
Steel Grating Market to Witness Exponential Growth | 2024

Steel grating is a regular shaped assortment of similar, elongated, and parallel elements. It usually comprises one set of extended elements. However, it can also contain two sets, wherein the subsequent set is commonly set vertically to the first. Vertical placement of these two sets is also called grid or a mesh. Steel gratings are primarily employed in power generation plants, buildings, and factories, as they offer ease of movement and safety; are robust, strong, reliable, and durable; and possess high tensile strength when compared to fiber grating and aluminum. The usage of steel grating depends on the load that it needs to bear. It is extensively implemented in numerous applications, owing to its many benefits such as corrosion resistance and low maintenance requirement. Steel grating is used for stair treads, manhole covers, and handrails in various industries.

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The global steel grating market is expected to expand at a substantial pace in the near future primarily due to the technological advancements and increase in applications in end-use industries. Furthermore, expansion of the construction sector, especially in Asia Pacific, is anticipated to drive the steel grating market during the forecast period. High investments are being made in various countries such as China, India, Brazil, Mexico, and Indonesia for infrastructure development and industrial growth. This is anticipated to propel the demand for steel grating in the near future. Emission of carbon during the production of steel grating is a key factor expected to hamper the steel grating market. However, this factor is likely to be offset by the increase in demand for steel grids or mess in industrial and construction sectors.

The steel grating market can be segmented based on type, application, and region. In terms of type, the market can be divided into stainless steel grating, carbon steel grating, and mild steel grating. Based on application, the market can be classified into construction, sewage disposal, petrochemical, and others. In terms of region, the steel grating market can be segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. In terms of consumption, North America dominated the global steel grating market in 2016.

It was followed by Europe. This can be primarily ascribed to the large number of end-user industries in North America and Europe. However, the market in North America and Europe is projected to expand at a sluggish pace during the forecast period, as these regions are relatively mature markets. The market for steel grating in Asia Pacific is anticipated to expand at a significant pace in the near future owing to the presence of growing economics such as China and India, and high demand from key markets such as South Korea and Japan. Furthermore, technical advancements from OEMs coupled with rise in industrialization in the region offer lucrative opportunities for the steel grating market in Asia Pacific. The market in Latin America and Middle East & Africa is estimated to exhibit strong growth during the forecast period.

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Key players operating in the market include AMICO Group of Companies, Meiser GmbH, Nucor, P&R Metals Inc., Valmont Industries, Inc., Yantai Xinke Steel Structure Co., Ltd., Harsco Industrial IKG, NJMM Inc., Xinxing Ductile Iron Pipes, Ohio Gratings, Marco Specialty, and Lionweld Kennedy.

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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

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