Structural Steel Market Size is Expected to Increase US$ 141.1 Million by 2027 | CAGR 3.5% – IndustryARC
The increased use in aircraft hangars will lead to increased use of steel framing, thus driving the growth of the steel framing market.
HYDERABAD, TELANGANA, INDIA, Oct. 18, 2022 /EINPresswire.com/ — IndustryARC in its latest report predicts steel framing market size to reach $141.1 million by 2027, after increasing at a CAGR of 3.5% during the forecast period 2022-2027. Steel framing is a construction technique of vertical steel columns and horizontal beams constructed to support load-bearing floors and walls. In steel frames, the top is covered with a steel deck and below is a thick layer of concrete and steel rebar. Steel studs are used as structural and non-structural building materials for walls in construction projects. It is used in renewable energy resources, construction industry, and transportation industry, driving the growth of the market. The report offers a comprehensive analysis of the market, its main segments, growth factors, trends, drivers and challengers, key players and more.
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Key points to remember:
This IndustryARC Steel Structures Market report highlights the following areas –
Asia-Pacific dominates the structural steel market, owing to the growing construction and transportation industry in the region. The increase in demand, supply and revenue has increased the expansion of these industries in the APAC region.
Steel frames are often used in the construction of buildings, airports, bridges and interiors as well as walls, floors and roofs due to their high strength and load bearing capacity which stimulates the growth of its market.
In addition, steel frames are often used in renewable energy resources such as wind turbines, solar panels and hydraulic elevators due to their high ductile strength and easy shape transformation, which further supports the industry. of the steel frame.
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Steel Structures Market Segment Analysis – By Type: The skeleton steel structures segment held the largest share of the steel structures market in 2021 and is expected to grow at a CAGR of 3.1% during the period of forecast 2022-2027.
Steel Framing Market Segment Analysis – By Application: Walls segment held the largest share of the steel framing market in 2021 and is expected to grow at a CAGR of 3.8% during the forecast period 2022-2027.
Steel Framing Market Segment Analysis – By Geography: Asia-Pacific held the largest steel framing resin market share in 2021 up to 38%, driven by the construction industry growing in APAC countries. Due to growing domestic demand, a healthy labor market and steady government policy support, the construction industry in Asia-Pacific is growing at a faster rate.
Top 5 Players in Structural Steel industry are-
1. The structural steel company
2. Keymark Enterprises LLC
3. Aegis metal frame
4. The Hadley Group
5. ClarkDietrich Building Systems
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