Rising Construction Activities: A Key Driver Transforming the Light Gauge Steel Framing Market 2024

The Business Research Company's Light Gauge Steel Framing Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

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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 CAGR of 3.2%. The growth in the historic period can be attributed to industrialization, housing market trends, regulatory changes, and consumer preferences.

What Is the Estimated Growth Rate and Market Size of the Global Light Gauge Steel Framing Market?

The market size is projected to grow to $40.87 billion in 2028 at a CAGR of 3.4%. Factors contributing to growth include urbanization, prefabricated construction, and resilience to natural disasters. Trends involve sustainable construction practices and energy efficiency standards.

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What Is The Primary Growth Driver Of The Light Gauge Steel Framing Market?

The rising construction activities are expected to drive the market. Cold-formed steel is commonly used in construction, and increased construction projects will boost the use of light gauge steel framing. A report indicated that global construction output is expected to grow from $10.7 trillion in 2020 to $15.2 trillion by 2030, indicating a strong demand for light gauge steel framing.

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Which Market Leaders Are Behind the Growth of the Light Gauge Steel Framing Market?

Major companies operating in the 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 Mitsubishi Steel Co Ltd., Steel Frame Solutions LLC, Tata BlueScope Steel Limited, The Steel Network Inc., WARE Industries Inc.

What Key Trends Are Impacting The Size Of The Light Gauge Steel Framing Market?

In the light gauge steel framing market, technological innovations are leading to new product developments. In January 2022, CRATE Modular introduced a flexible cold-formed steel methodology that enhances design options and dimensions for construction projects.

How Is The Global Light Gauge Steel Framing Market Segmented?
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

Regional Insights: Asia-Pacific Paving the Way in the Light Gauge Steel Framing Market
Asia-Pacific was the largest region in the market in 2023, and it is also expected to be the fastest-growing region in the forecast period. The regions covered in the market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Light Gauge Steel Framing Market Definition
Light gauge steel framing (LGSF) is a construction method using cold-rolled steel for building walls and structures. Benefits include lightweight materials, ease of transport, and cost-effectiveness.

The Light Gauge Steel Framing Global Market Report 2024 from The Business Research Company includes the following key information:

• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.

Overview of the Global Light Gauge Steel Framing Market Report: Trends, Opportunities, Strategies, and More

The Light Gauge Steel Framing Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into light gauge steel framing market size, light gauge steel framing market drivers and trends, light gauge steel framing market major players, light gauge steel framing competitors' revenues, light gauge steel framing market positioning, and growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.

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