Press release
Strategic Forecast for the Light Gauge Steel Framing Industry: Market Outlook 2025-2034
Light Gauge Steel Framing
What Is the Expected CAGR for the Light Gauge Steel Framing Market Through 2025?
The market size of light gauge steel framing has experienced consistent growth in the past few years. Its size is predicted to increase from $35.27 billion in 2024 to $36.23 billion in 2025, reflecting a compound annual growth rate (CAGR) of 2.7%. This growth during the historical period is a result of factors such as industrialization and urbanization, fluctuations in the housing market, changes to regulations and standards, economic cycles impacting the construction industry, and shifts in consumer preferences and aesthetics.
What's the Projected Size of the Global Light Gauge Steel Framing Market by 2029?
The market for light gauge steel framing is set to enjoy consistent expansion in the coming years. It's projected to reach a value of $42.68 billion by 2029, with a compound annual growth rate (CAGR) of 4.2%. Several factors contribute to this predicted growth during the outlook period, such as industry cooperation and standards creation, increasing urbanization and population growth, changes in construction methods, and the adoption of prefabricated and modular construction which offers greater resilience to natural disasters. Key trends for the forecast period comprise the availability of skilled labour, sustainability in construction, the growth of modular and prefabricated construction, a rise in urbanisation, and the implementation of energy efficiency standards.
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Top Growth Drivers in the Light Gauge Steel Framing Industry: What's Accelerating the Market?
The surge in construction activities is anticipated to fuel the expansion of the light gauge steel framing market, with cold-formed steel becoming increasingly prevalent as a key construction material in light gauge steel frames for roofs, floors, walls, roof panels, and decks, as well as entire building structures. The swift escalation in construction is anticipated to amplify the use of light gauge steel framing, given its fundamental role in construction endeavors. As an example, in October 2024, The United States Census Bureau, a governmental agency in the US, reported that the total expenditure on construction over the initial eight months of 2023 was $1327 billion. This value witnessed an increase of 7.6% in 2024, hitting the mark of $1428.5 billion. As such, a surge in construction activities is likely to spur the need for light gauge steel framing during the projected period.
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What Trends Will Shape the Light Gauge Steel Framing Market Through 2029 and Beyond?
Technological advancements are becoming a prominent trend in the light gauge steel framing sector. These advancements entail the introduction of unique products employing cutting-edge technologies such as modular light gauge steel systems that provide added benefits such as adjustable dimensions, numerous design alternatives, and more. Such technological advancements empower firms to extend their product offerings with added advantages and broadens their customer base. For example, in January 2022, CRATE Modular Inc., an American company that manufactures modular construction components, unveiled a new methodology with their light gauge steel solution, known as cold-formed steel. This novel approach is characterized by its dimensional flexibility and additional design options. With this new process of cold-formed steel, CRATE has further enhanced its capabilities of providing its clients with more innovative solutions.
What Are the Main Segments in the Light Gauge Steel Framing Market?
The light gauge steel framing market covered in this report is segmented -
1) By Type: Skeleton, Wall Bearing, Long Span
2) By End-Use: Commercial, Residential, Industrial
Subsegments:
1) By Skeleton: Steel Frame Construction, Concrete Frame Construction, Hybrid Frame Construction, Pre-Engineered Structures
2) By Wall Bearing: Load-Bearing Masonry Walls, Concrete Block Walls, Brick Walls, Structural Insulated Panels (SIPs)
3) By Long Span: Truss Structures, Precast Concrete Beams, Cable-Stayed Structures, Space Frames, Rigid Frame Structures
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Which Top Companies are Driving Growth in the Light Gauge Steel Framing Market?
Major companies operating in the light gauge steel framing market include ArcelorMittal S.A., HONGLU STEEL STRUCTURE, Jinggong Steel, ZHEJIANG SOUTHEAST SPACE FRAME Co LTD., Clarkwestern Dietrich Building Systems Ltd., China State Construction Engineering Corporation Ltd., Precision Walls Inc., HangXiao Steel Structure Co Ltd., SCAFFO Steel Stud Company, QSI Interiors Ltd., MRI Steel Framing LLC, Super Stud Building Products Inc., Quail Run Building Materials Inc., Genesis Manazil Steel Framing LLC, 8 Diamonds Steel Framing Ltd., Arkitech Advanced Construction Technologies, CEMCO-California Expanded Metal Products Inc., Craco Metal Supply Inc., DCM Metal Corp, E PACK Prefabricated Buildings Co Ltd., FRAMECAD Ltd., Hadley Industries Ltd., Intelligent Steel Solutions Ltd., Metek plc, Nakayama Mitsubishi Steel Co Ltd., Steel Frame Solutions LLC, Tata BlueScope Steel Limited, The Steel Network Inc., WARE Industries Inc.
Which Regions Will Dominate the Light Gauge Steel Framing Market Through 2029?
Asia-Pacific was the largest region in the light gauge steel framing market in 2024, and it is also expected to be the fastest-growing region in the forecast period. The regions covered in the light gauge steel framing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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