The Europe Light Gauge Steel Framing Market would witness market growth of 3.4% CAGR during the forecast period (2021-2027).
Building infrastructure, retail malls, schools, hospitals, and workplaces all require light gauge steel frame. With the growing cost of lumber and wood, demand for light gauge steel framing has exploded in recent years, owing to its excellent durability and cost efficiency in different industrial, public, residential, and commercial building construction.
The light gauge steel framing market is likely to be driven by increased government and private sector investment in construction activities. Several international corporations and government agencies are making significant investments in building. The expansion of the light gauge steel framing industry is also influenced by this.
Because of its superior strength, ductility, and low weight, light gauge steel (also known as cold-formed steel) is a viable alternative to traditional construction. Moreover, these systems provide a high level of security for its residents. It is non-combustible and fire resistant. During natural disasters, cold-formed steel buildings perform in a better way. Buildings are constructed for stronger seismic and wind loads due to their light weight. Hence, these factors are anticipated to propel the growth of the regional light gauge steel framing market during the forecasting period.
The Germany market dominated the Europe Light Gauge Steel Framing Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $2,212.5 million by 2027. The UK market would witness a CAGR of 2.7% during (2021 - 2027). Additionally, The France market is exhibiting a CAGR of 4.2% during (2021 - 2027).
Based on Type, the market is segmented into Wall Bearing, Skeleton, and Long Span. Based on End Use, the market is segmented into Residential, Industrial, and Commercial. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Light Gauge Steel Framing Market Size will Hit $42.8 Billion by 2027, at a CAGR of 4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 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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