Light Gauge Steel Framing Market is Forecasted to Reach US$ 49.41 Billion in 2028, Says Stratview Research

The global light gauge steel framing market is projected to witness a growth rate of 4.44% annually from 2023 to 2028 with an anticipated size of US$ 49.41 billion by 2028, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global light gauge steel framing market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

Click here to get a free sample of the report:
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Report Highlights:
Market Size in 2028: US$ 49.41 billion
Growth (CAGR): 4.44% during 2023-2028
Forecast Period: 2023-2028
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 3
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20

Segment Insights on the Light Gauge Steel Framing Market:

The global light gauge steel framing market is segmented based on product type, end-user type, and region.

Based on 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.

Based on 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 assessment period.

To know the most attractive segments, click here:
https://stratviewresearch.com/3004/light-gauge-steel-framing-market.html

Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that Asia-Pacific is expected to remain the largest market for light gauge steel framing over the forecast period. This growth outlook is majorly attributed to the following-

• 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 the government for infrastructural development and growing awareness about minimizing funding for construction projects are expected to drive the region's market growth during the assessment period.

Light Gauge Steel Framing Market Drivers:

Some of the key drivers listed in the report are given below.

• Growing construction industry
• Investment in infrastructure projects
• Increasing demand for residential and commercial construction, as well as rising population and rapid urbanization

Top Companies in the Light Gauge Steel Framing Market:

Stratview Research has identified the following companies as the top market players.
• Arkitech Advanced Construction Technologies
• Bluescope Steel Limited
• Cemco
• Clarkwestern Dietrich Building Systems LLC
• Craco Manufacturing Inc.
• FRAMECAD Ltd.
• Genesis Manazil Steel Framing
• QSI Interiors Ltd.
• SCAFCO Steel Stud Company
• Steel Frame Solutions

What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the Light Gauge Steel Framing Market, answering critical questions like:
• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

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• Structural Steel Market: https://stratviewresearch.com/1036/structural-steel-market.html

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This release was published on openPR.