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| Market size in 2024 | US$ 3.72 billion |
Forecast Market size by 2030 | US$ 5.28 billion |
|---|---|---|---|
| Growth Rate | CAGR of 6.0% | Number of Pages | 139 Pages |
The global Light Gauge Steel Framing market size was valued at US$ 3.72 billion in 2024 and is projected to reach US$ 5.28 billion by 2030, at a CAGR of 6.0% during the forecast period 2024-2030.
The United States Light Gauge Steel Framing market size was valued at US$ 982.4 million in 2024 and is projected to reach US$ 1.36 billion by 2030, at a CAGR of 5.6% during the forecast period 2024-2030.
Light Gauge Steel Framing is a construction technique using cold-formed steel members for load-bearing purposes in residential and commercial buildings, offering advantages in strength, durability, and speed of construction.
The Light Gauge Steel Framing market is experiencing solid growth, driven by rapid urbanization, the need for affordable housing, and advantages in sustainable construction. In 2023, residential applications accounted for 55% of the market, followed by commercial at 35% and industrial at 10%. The market is benefiting from the global push for green building practices, with light gauge steel being 100% recyclable and contributing to LEED certification points. In 2023, the global production of light gauge steel frames reached 7.5 million tons, with China accounting for 40% of production.
The U.S. market is driven by the housing shortage, with an estimated deficit of 3.8 million units in 2023 fueling demand for rapid construction methods. Prefabrication is a growing trend, with off-site manufactured frames accounting for 30% of the market in 2023, expected to reach 45% by 2030. The market faces challenges from fluctuating steel prices, which saw volatility of up to 25% in 2023. However, advancements in Building Information Modeling (BIM) are improving efficiency, with BIM adoption in light gauge steel projects growing at 12% annually. The Asia-Pacific region is the fastest-growing market, with a CAGR of 7.2%, driven by government initiatives for affordable housing in countries like India and Indonesia.
In terms of technology, automation in manufacturing is increasing, with robotic systems now used in 40% of production lines, up from 25% in 2020. The market is moderately fragmented, with the top 15 players accounting for 55% of global market share. Sustainability concerns are driving innovation, with low-carbon steel production methods expected to account for 20% of light gauge steel production by 2030.
Report Overview
Light gauge steel construction is very similar to wood framed construction in principle - the wooden framing members are replaced with thin steel sections.
Light Gauge Steel Framing Market provides a deep insight into the global Light Gauge Steel Framing market covering all its essential aspects. This ranges from a macro overview of the market to micro details of the market size, competitive landscape, development trend, niche market, key market drivers and challenges, SWOT analysis, value chain analysis, etc.
The analysis helps the reader to shape the competition within the industries and strategies for the competitive environment to enhance the potential profit. Furthermore, it provides a simple framework for evaluating and accessing the position of the business organization. The report structure also focuses on the competitive landscape of the Global Light Gauge Steel Framing Market, Light Gauge Steel Framing Market introduces in detail the market share, market performance, product situation, operation situation, etc. of the main players, which helps the readers in the industry to identify the main competitors and deeply understand the competition pattern of the market.
In a word, Light Gauge Steel Framing Market is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Light Gauge Steel Framing market in any manner.
Global Light Gauge Steel Framing Market: Market Segmentation Analysis
The research report includes specific segments by region (country), manufacturers, Type, and Application. Market segmentation creates subsets of a market based on product type, end-user or application, Geographic, and other factors. By understanding the market segments, the decision-maker can leverage this targeting in the product, sales, and marketing strategies. Market segments can power your product development cycles by informing how you create product offerings for different segments.
Key Company
| Report Attributes | Report Details |
|---|---|
| Report Title | Global Light Gauge Steel Framing Market Research Report 2024(Status and Outlook) |
| Market size in 2024 | US$ 3.72 billion |
| Forecast Market size by 2030 | US$ 5.28 billion |
| Growth Rate | CAGR of 6.0% |
| Historical Year | 2018 to 2022 (Data from 2010 can be provided as per availability) |
| Base Year | 2023 |
| Forecast Year | 2031 |
| Number of Pages | 139 Pages |
| Customization Available | Yes, the report can be customized as per your need. |
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