Global steel framing market is tremendously growing and is estimated to reach $135.86 billion by 2021

“Steel Framing Market Analysis By Construction Type By Geography – Forecast (2017-2021)”
Following the rapid economic growth in Asia during the last decade, demand for Steel framing in APAC has risen sharply and the market is anticipated to reach $74.05 billion by 2021.

Browse 26 Market Tables, 89 Figures spread through 225 slides and an in-depth TOC on “Global Steel framing Market (2016 – 2021)”

Lower construction costs as compared to concrete structures are one of the major driving factors of the market. Steel framing’s strength­to-weight ratio significantly exceeds that of concrete. Being strong and relatively lightweight, Cold-Formed Steel (CFS) systems reduce a building’s total load. Residential, non-residential and new infrastructure projects, such as; bridges and airports, railway stations along with the growth of commercial/industrial businesses are driving the need for steel framing. Steel framing fulfill various functional needs of commercial and residential buildings. With both the infrastructure and real estate sectors demanding construction solutions that offer a combination of economy, strength and speed, while also wanting aesthetically pleasing buildings, light steel construction solutions offered by element have come as a boon.

Based on types of construction, the steel framing market is segmented into: structural steel buildings, Light Gauge Steel Framing (Cold Formed Steel Construction) and others. Furthermore, the market is classified based on end-users such as residential, commercial, and others. The global steel framing market is estimated to grow at a CAGR of 4.63% during the forecast period and will reach $135.86 billion by 2021. Europe and America are the established markets for steel framing, both in terms of consumption. APAC is an emerging market for steel framing owing to the rapid urbanization in countries like China and India. Steel demand in the construction sector in the Philippines, Singapore and Vietnam registered a significant share of above 80% while in Indonesia, Malaysia and Thailand, the share was lower, at around 60%.

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The market of steel framing has been segmented into North America, Asia-Pacific, Europe and Rest of the World (RoW) on basis of geography. In 2016, APAC is the prominent region for steel framing market and is estimated to grow with CAGR of 5.03% during the forecast period. The growth in APAC is attributed to the increasing construction activities. However, considerable steel framing demand in Americas along with European countries is likely to boost the overall market.

The Prominent Players in this Market Include

  • SAINT-GOBAIN S.A., France
  • CEMCO, The United States

Steel framing companies through its broad range of products, product expansion and innovation have been successful in catering to a variety of customers, consequently maintaining their hold over the steel framing market. With mergers, acquisitions, collaborations and other strategies, these companies are obtaining steel framing market shares in the industry.

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