According to a new report Global Light Gauge Steel Framing Market, published by KBV research, The Global Light Gauge Steel Framing Market size is expected to reach $42.8 billion by 2027, rising at a market growth of 4.0% CAGR during the forecast period.
The Wall Bearing market leading the segment of Global Light Gauge Steel Framing Market by Type 2020, thereby, achieving a market value of $19.0 billion by 2027. It is due to the fact that the weight of the structural parts that support the floor and roof is carried by the wall bearing frame, which is located on the inner or external end of the building wall. For the building of a low-rise structure, wall bearing framing is appropriate. This is because, in the case of multi-story buildings, the bearing wall must be significantly larger in order to endure major weights.
The Residential market is generating high revenue in the Global Light Gauge Steel Framing Market by End Use 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $18.7 billion by 2027. The product is widely utilised for structural support in residential structures. Product adoption in residential buildings is expected to rise in the next years as customers become more aware of the benefits of these products to speed up project completion times, particularly in the United States, the United Kingdom, Japan and Germany.
The Asia Pacific market acquired maximum revenue share in the Global Light Gauge Steel Framing Market by Region 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $18.7 billion by 2027. The Europe market is expected to witness a CAGR of 3.4% during (2021 - 2027). Additionally, The North America market is expected to witness a CAGR of 3.8% during (2021 - 2027).
Full Report: https://www.kbvresearch.com/light-gauge-steel-framing-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of SCAFCO Steel Stud Company, The Steel Network, Inc., WARE Industries, Inc., Precision, Walls, Inc., Hadley Industries Holdings Ltd., FRAMECAD Limited, CRACO Manufacturing, Inc., and California Expanded Metal Products Co.
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Companies Profiled
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