Light Gauge Steel Framing Global Market Report 2024

Light gauge steel framing (LGSF) denotes a wall system constructed from cold-rolled load-bearing steel. It finds applications in wall systems, roof panels, floor systems, and complete buildings. The benefits of LGSF encompass its lightweight nature, easy transportability, reduced construction expenses, and its substantial strength and durability.

The primary categories of light gauge steel framing comprise skeleton, wall bearing, and long span. A wall bearing, also referred to as a load-bearing wall or structural wall, is responsible for supporting the weight of the entire structure from top to bottom. Its crucial role involves distributing the building's weight from the roof to the foundation, and removing it could result in structural collapse. Light gauge steel framing is utilized by end-users in various sectors, including commercial, residential, and industrial applications.

The light gauge steel framing market research report is one of a series of new reports from The Business Research Company that provides light gauge steel framing market statistics, including light gauge steel framing industry global market size, regional shares, competitors with a light gauge steel framing market share, detailed light gauge steel framing market segments, market trends and opportunities, and any further data you may need to thrive in the light gauge steel framing industry. This light gauge steel framing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The light gauge steel framing market size has grown steadily in recent years. It will grow from $34.67 billion in 2023 to $35.79 billion in 2024 at a compound annual growth rate (CAGR) of 3.2%. The expansion observed in the historical period can be ascribed to industrialization and urbanization, trends in the housing market, changes and standards in regulations, economic cycles, and the construction industry, as well as consumer preferences and aesthetics.

The light gauge steel framing market size is expected to see steady growth in the next few years. It will grow to $40.87 billion in 2028 at a compound annual growth rate (CAGR) of 3.4%. The anticipated growth in the forecast period can be linked to collaboration within the industry and the development of standards, urbanization, population growth, changes in construction techniques, the adoption of prefabricated and modular construction, and resilience to natural disasters. Key trends in this projected period encompass the availability of skilled labor, sustainable construction practices, the utilization of modular and prefabricated construction methods, the increasing pace of urbanization, and adherence to energy efficiency standards.

The growth in construction activities is anticipated to fuel the expansion of the light gauge steel framing market. Cold-formed steel serves as a predominant construction material in light gauge steel framing, employed in roofs, floors, walls, roof panels, decks, and overall building structures. The escalating pace of construction is expected to elevate the demand for light gauge steel framing, considering their integral role in construction endeavors. As highlighted in an October 2021 report by Oxford Economics, a UK-based economic information services company, the global construction output amounted to $10.7 trillion in 2020. Projections indicate a substantial growth of 42%, equivalent to $4.5 trillion, between 2020 and 2030, reaching a total of USD 15.2 trillion. Consequently, the upswing in construction activities is anticipated to drive the demand for light gauge steel framing throughout the forecast period.

The resilience against catastrophic events is anticipated to fuel the light gauge steel framing market. Catastrophic events are sudden, widespread, and severe occurrences, often resulting in significant damage, loss of life, and long-term societal impact. Light gauge steel framing enhances structural resilience against catastrophic events by providing a durable and flexible construction solution that can withstand severe forces and contribute to overall building resilience. For instance, in March 2023, according to the ReliefWeb, a US-based humanitarian information portal, there were a total of 387 catastrophic events in 2022, which was higher than the average of 370 from registered previous years. Therefore, resilience against catastrophic events is driving the light gauge steel framing market.

The light gauge steel framing market is experiencing a significant trend towards technological innovation. Innovations in light gauge steel framing involve the creation of new products using cutting-edge technology, notably modular light gauge steel solutions. These solutions come with added features such as dimension flexibility, multiple design options, and more. Technological advancements empower companies to deliver sophisticated products with additional advantages, expanding their reach to customers. For instance, in January 2022, CRATE Modular Inc., a US-based manufacturer specializing in modular construction components, unveiled a novel light gauge steel solution based on a cold-formed steel methodology. Distinguished by its dimensional flexibility and supplementary design options, this new methodology represents a unique advancement. The introduction of this cold-formed steel process equips CRATE with increased capabilities to provide innovative solutions to its customers.

Leading companies in the light gauge steel framing market are actively involved in the creation of innovative systems, such as panelized systems, to revolutionize offsite construction and optimize their market gains. A panelized system represents a construction approach where building components, including walls and floors, are prefabricated in panels offsite and subsequently assembled on-site to enhance efficiency and speed. For example, in May 2022, Intrastack, a UK-based provider of frame systems, introduced a panelized steel-frame system designed for the UK's building sector. This system facilitates the efficient construction of multi-storey, multi-occupancy residential and commercial projects. Certified by NHBC Stage 1, the light gauge steel frame offers flexibility for various building types and achieves 120 minutes of fire performance. Manufactured at Saint-Gobain's Modern Methods of Construction facility, these panelized systems contribute to accelerating construction speed by up to 50% compared to traditional methods.

In August 2021, the Belgium-based building material manufacturer Etex completed the acquisition of Sigmat Limited for an undisclosed sum. This strategic move is designed to strengthen Etex's presence and expansion within the offsite construction market in the UK and Ireland. Additionally, the acquisition aligns with Etex's overarching objective of establishing itself as a worldwide leader in offsite construction. Sigmat Limited, based in the UK, is recognized for its expertise in manufacturing light gauge steel framing (LGSF).

Major companies operating in the light gauge steel framing market report are 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 Mitsuboshi Steel Co. Ltd., Steel Frame Solutions LLC, Tata BlueScope Steel Limited, The Steel Network Inc., WARE Industries Inc.

Asia-Pacific was the largest region in the light gauge steel framing market in 2023, 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.

The countries covered in the light gauge steel framing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The light gauge steel framing market consists of sales of wall system, flooring system, light gauge steel coating, and accessories. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Light Gauge Steel Framing Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on light gauge steel framing market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for light gauge steel framing ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The light gauge steel framing market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of covid 19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Type: Skeleton; Wall Bearing; Long Span
• 2) By End-Use: Commercial; Residential; Industrial
• Companies Mentioned: ArcelorMittal S.A.; HONGLU STEEL STRUCTURE; Jinggong Steel; ZHEJIANG SOUTHEAST SPACE FRAME CO. LTD.; Clarkwestern Dietrich Building Systems Ltd.
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.