Steel Grating Market Size and Outlook by Application, Type, and Geographic Scope

Allied Market Research published a report, titled, "Steel Grating Market by Material Type (Stainless Steel Grating, Carbon Steel Grating, and Aluminum Steel Grating), Surface Type (Plain Steel Grating and Serrated Steel Grating), Fabrication (Welded Steel Grating, Swage Locked Grating, Press Locked Grating, Riveted Grating, and Close Mesh Steel Grating), Application (Stair Treads, Walkways, Platforms, Security Fence, Drainage Covers, Trench Covers, and Others), and End-Use Industry (Food Processing, Pharmaceuticals, Cement, Steel, Chemical, Papermaking, Oil & Gas, Electric Power, Mining, Marine, Wastewater Treatment, Civil Engineering, and Others): Global Opportunity Analysis and Industry Forecast, 2020-2027." According to the report, the global steel grating industry generated $182.2 billion in 2019, and is expected to garner $261.2 billion by 2027, witnessing a CAGR of 4.7% from 2020 to 2027.

Prime determinants of growth

High demand from end-use industries due to its benefits such as excellent tensile strength that increases durability & reliability and technological advancements drive the growth of the global steel grating market. However, carbon emissions generated during the production and ease in availability and advantages of FRP grating hinder the market growth. On the other hand, various customizations offered by market players for grating products present new opportunities in the coming years.

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The report provides detailed segmentation of the global steel grating market based on material type, surface type, fabrication, application, end-use industry, and region.

By material type, the carbon steel grating segment held the highest market share, accounting for nearly three-fourths of the market in 2019, and will continue its dominance in terms of revenue during the forecast period. However, the stainless steel grating segment would portray the highest CAGR of 6.7% from 2020 to 2027.

The carbon steel grating segment to maintain its lead position during the forecast period

Based on material type, the carbon steel grating segment accounted for the largest market share in terms of revenue, contributing to nearly three-fourths of the global steel grating market in 2019, and will maintain its lead position during the forecast period. This is due to the growth of the construction industry in the developing economies and its utilization in trench and drainage covers to drain water and block wastes. However, the stainless steel grating segment is estimated to witness the fastest CAGR of 6.7% from 2020 to 2027. This is attributed to increase in demand from chemical manufacturers across the countries of Europe and the Asia-Pacific region for the resistance provided by this material type to chemical and corrosive environments.

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By end-use industry, the oil & gas segment accounted for the highest share in 2019, contributing to more than one-tenth of the global steel grating market, and is projected to maintain its lead position by 2027. However, the pharmaceuticals segment is expected to witness the largest CAGR of 5.5% from 2020 to 2027.

By region, Asia-Pacific contributed the highest share in 2019, holding more than one-third of the global market, and will maintain its leadership status throughout the forecast period. Moreover, this region is estimated to witness the fastest CAGR of 6.0% from 2020 to 2027. The report also discusses regions including North America, Europe, and LAMEA.

Major players of the global steel grating market analyzed in the research include Nucor Corporation, Sinosteel Corporation, Valmont Industries, Anping Enzar Metal Products Co. Ltd., Alabama Metal Industries, Corporation (AMICO), P&R Metals, Ohio Gratings, Interstate Gratings, Lionweld Kennedy, and Litchgitter GmbH.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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