Global Steel Framing Market Steel Framing Forecasts to 2033

• The Global Steel Framing Market Size was Valued at USD 35.03 Billion in 2023
• The Market Size is Growing at a CAGR of 5.19% from 2023 to 2033
• The Worldwide Steel Framing Market Size is Expected to Reach USD 58.12 Billion by 2033
• The Middle East and Africa are Expected to Grow the fastest during the forecast period.

The Steel Framing Market Size is Anticipated to Exceed USD 58.12 Billion by 2033, Growing at a CAGR of 5.19% from 2023 to 2033.

STEEL FRAMING MARKET REPORT OVERVIEW

The steel framing system is an extremely effective and adaptable building material that can be applied to both load-bearing and non-load-bearing applications. These applications include continuous walling, lightweight constructions, dividing walls in high bay scenarios, and external walls on concrete and steel-framed buildings. The steel framing system is mostly "stick-built" on the construction site and is especially well-suited to contemporary construction techniques that offer substantial advantages to a project in terms of time and cost savings as well as return on investment. Three things that are most important for selecting convenient steel framing include project location, construction type, and performance requirement. Steel frame buildings are more resilient to weather-related damage and can withstand even the worst weather conditions without deteriorating. Because it burns slowly and doesn't generate toxic toxins when exposed to heat or flame, it also provides good fire protection. It also offers superior fire protection due to the fact it burns slowly and doesn't release harmful fumes when exposed to heat or flame. The government initiatives give support to expand the market potential throughout the world. For instance, to repair America's infrastructure, the US Senate approved a $1.2 trillion infrastructure bill. Resilient materials like cold-formed steel (CFS) framing will be crucial to the rebuilding process to create stronger buildings.

Report Coverage

This research report categorizes the market for the global steel framing market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global steel framing market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global steel framing market.

DRIVING FACTORS:

The increased acceptance of cold-formed steel construction could enhance market potential.

Cold-formed steel fabricators provide pre-assembled, robust, straight, and easily distinguishable frames. Usually, no on-site cutting or welding is needed. Due to its advantages in construction speed, accuracy, and labor cost savings, it is cost-competitive when compared to traditional methods and, depending on the building design, may even be less expensive when considering the whole build cost. Advanced construction automation systems in conjunction with cold-formed steel construction techniques result in quicker build times, reduced total costs, more adaptable and scalable design options, and improved building performance. The ideal design algorithm created for structures made of cold-formed steel even lowers the quantity of material needed.

RESTRAINING FACTORS

The energy efficiency issues of steel-framed houses could restrict the growth of the market.

Significant insulation and energy efficiency problems can arise in steel-framed dwellings. This is mostly due to steel conducting heat 300–400 times more efficiently than wood, greatly reducing the benefit of wall insulation. The idea of thermal bridging causes heat to escape along the most conductive path steel in this case reducing wall insulation's insulating qualities by as much as 60%. Steel is a great heat conductor as a result, which is detrimental to preserving energy efficiency in dwellings.

Market Segmentation

The steel framing market share is classified into type and application.

The skeleton steel framing is owing to the highest share of the market over the forecast period.

Based on type, the steel framing market is classified into skeleton framing, wall bearing, and long span. A skeleton frame is a framed building that supports the building's internal floors and outer walls by creating a network of connecting beams and columns. It also transfers all weight to the foundations. Multi-story building construction frequently uses it. It is composed of several columns and steel beams that support a civil structure. Utilizing a skeleton steel framework facilitates the creation of interior floor plans devoid of immovable walls. Skeleton steel framing is a commonly utilized technique in the construction of commercial and industrial buildings due to its strength, durability, and versatility. It is also a technique that allowed skyscrapers to be built.

The wall segment has the biggest market share during the forecast period.

Based on application, the steel framing market is classified into floors, roofs, walls, metro stations, stadiums, and others. Steel frame walls are utilized as infill in structural concrete buildings as well as in steel-framed structures. Steel frames are preferred to wood ones since the steel studs are exactly straight and do not crack or shrink. Steel frames are anti-rot, anti-insect, and lightweight, making them convenient to store. Steel framing has numerous advantages, including greater strength, the ability to build larger structures, clear floor spans, and many more. It is utilized for both external and interior walls.

Regional Segment Analysis of the Global Steel Framing Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Asia-Pacific is having the biggest share of the steel framing market throughout the forecast period.

The expanding construction activities in the region, particularly for commercial and industrial buildings, are credited with the rise of the regional market. Among the region's principal markets are China, India, and the countries of Southeast Asia. The enormous growth of the regional market is largely due to the large public and private expenditures made in these nations in the development of infrastructure and the creation of commercial spaces. The superpower construction markets of China, the US, and India are expected to drive the global buildings and construction market, which is estimated by the Global Alliance for Buildings and Construction to be worth approximately $9.7 trillion in 2022.

The Middle East and Africa are the fastest-growing regions during the projected timeframe.

Increasing government involvement and spending in areas like infrastructure, healthcare, and education would probably help the region's economy thrive by diversifying the nation's sources of income and moving away from traditional oil production. The market is growing as a result of consumers becoming more aware of timely and cost-effective project completion.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global steel framing market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Keymark Enterprises LLC
• Aegis Metal Framing
• The Steel Framing Company
• Voestalpine Metsec Plc
• Hadley Group
• The Hadley Group
• ClarkDietrich Building Systems
• Olmar Supply Inc
• Saint-Gobain S.A.
• The Stowell Company Inc
• Zauba Technologies & Data Services Private Limited.
• Mill Steel Co.
• REIDsteel
• Others

Key Market Developments

• In April 2022, a new steel-frame system for offsite construction was introduced by Saint-Gobain S.A. to assist contractors and home builders in completing multi-story, multi-occupancy residential and commercial projects.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global steel framing market based on the below-mentioned segments: 

Global Steel Framing Market, By Type

• Skeleton Framing
• Wall Bearing
• Long Span

Global Steel Framing Market, By Application

• Floors
• Roofs
• Walls
• Metro Stations
• Stadiums
• Others

Global Steel Framing Market, By Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa