“Global Steel Grating Market to reach a market value of 228.7 Billion by 2031 growing at a CAGR of 3.2%”
The Global Steel Grating Market size is expected to reach $228.7 billion by 2031, rising at a market growth of 3.2% CAGR during the forecast period.
Close mesh grating features a smaller spacing between the bearing bars, providing a tighter grid pattern. This design offers enhanced safety by preventing objects from falling through and reducing trip hazards, making it ideal for environments where small tools or equipment are used. Additionally, close mesh grating provides a more comfortable walking surface and is often used in pedestrian areas, public walkways, and architectural applications where safety and aesthetics are important. Its versatility and safety benefits drive its substantial market share. The close mesh steel grating segment recorded 14% revenue share in the steel grating market in 2023.
As industries expand their operations, robust and reliable infrastructure becomes paramount. Steel gratings are essential in industrial settings, providing safe and durable platforms for various operations. They are widely used in factories, warehouses, and manufacturing plants, where heavy machinery and materials movement necessitates strong and resilient flooring solutions.
Additionally, the construction of new offshore platforms, shipyards, and port facilities necessitates extensive use of steel gratings. Thus, the growth of marine and offshore applications is a major factor driving the increased demand for steel gratings.
However, small and medium-sized enterprises (SMEs), in particular, may struggle to justify the significant capital outlay required for steel gratings, even though they might recognize the long-term benefits. These companies often operate with tighter budget constraints and may prioritize more immediate, cost-effective solutions over long-term investments. As a result, the high initial costs of steel gratings can limit market growth.
On the basis of fabrication, the market is classified into welded steel grating, swage locked grating, press locked grating, riveted grating, and close mesh steel grating. The welded steel grating segment acquired 30% revenue share in the market in 2023. Welded steel grating is favored for its robust construction and excellent load-bearing capabilities.
Based on material, the market is divided into carbon steel, stainless steel, and aluminum steel. The stainless-steel segment garnered 15% revenue share in the market in 2023. Stainless steel gratings are particularly suited for environments that demand high resilience to harsh conditions, such as chemical plants, food processing facilities, and coastal installations where exposure to corrosive elements is common.
By application, the market is divided into walkways, platforms, drainage covers, trench covers, security fences, stair treads, and others. The walkways segment procured 23% revenue share in the market in 2023. The growth of the segment is driven by the increasing demand for durable, slip-resistant, and high-strength materials in industrial and commercial settings.
On the basis of end use industry, the market is segmented into oil & gas, pharmaceuticals, civil engineering, wastewater treatment, electric power, steel, mining, cement, and others. The civil engineering covers segment procured 13% revenue share in the market in 2023. Steel grating is in high demand in the civil engineering sector as a result of its critical function in large-scale infrastructure projects, including bridges, roads, and public transportation systems.
Free Valuable Insights: Global Steel Grating Market size to reach USD 228.7 Billion by 2031
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America segment acquired 29% revenue share in the market in 2023. The region's substantial investment in construction and maintenance projects and advanced industrial infrastructure are the primary factors contributing to its dominance.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 179.5 Billion |
| Market size forecast in 2031 | USD 228.7 Billion |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 3.2% from 2024 to 2031 |
| Number of Pages | 370 |
| Number of Tables | 640 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Surface Type, Fabrication, Material, Application, End Use Industry, Region |
| Country scope |
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| Companies Included | Nucor Corporation, Alabama Metal Industries Corporation, Lichtgitter GmbH, Gebr. Meiser GmbH, P&R Metals, Inc., Lionweld Kennedy Flooring Limited, Marco Specialty Steel, Inc., Interstate, Gratings, LLC, Valmont Industries, Inc. and Ohio Gratings, Inc. |
By Surface Type
By Fabrication
By Material
By Application
By End Use Industry
By Geography
The Market size is projected to reach USD 228.7 billion by 2031.
Industrial expansion and infrastructure development are driving the Market in coming years, however, Competition from alternative materials restraints the growth of the Market.
Nucor Corporation, Alabama Metal Industries Corporation, Lichtgitter GmbH, Gebr. Meiser GmbH, P&R Metals, Inc., Lionweld Kennedy Flooring Limited, Marco Specialty Steel, Inc., Interstate, Gratings, LLC, Valmont Industries, Inc. and Ohio Gratings, Inc.
The expected CAGR of this Market is 3.2% from 2024 to 2031.
The Serrated Steel segment is leading the Market by Surface Type in 2023; thereby, achieving a market value of $161.5 billion by 2031.
The Asia Pacific region dominated the Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $95 billion by 2031.
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