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Steel Grating Market
Steel Grating market Size to Reach $261.2 Billion by 2027 | CAGR: 4.7%: AMR
Steel grating is a versatile and durable material used extensively in industrial and construction settings.” - David CorreaPORTLAND, OR, UNITED STATES, October 21, 2024 /EINPresswire / -- According to the report published by Allied Market Research, the global steel grating market garnered $182.2 billion in 2019, and is projected to reach $261.2 billion by 2027, portraying a CAGR of 4.7% from 2020 to 2027. The report provides a detailed analysis of changing market trends, key winning strategies, top investment pockets, major segments, product performance, and competitive scenario.
Increase in demand from end-use industries with its properties such as excellent tensile strength and technological advancements fuel the growth of the global steel grating market. However, occurrence of carbon emissions during manufacturing process and abundant availability of FRP grating restrain the market growth. On the other hand, availability of many customizations in grating products creates new opportunities in the next few years.
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The report provides detailed segmentation of the global steel grating market based on material type, surface type, fabrication, application, end-use industry, and region.
By material type, the carbon steel grating segment held the highest market share, accounting for nearly three-fourths of the market in 2019, and will continue its dominance in terms of revenue during the forecast period. However, the stainless steel grating segment would portray the highest CAGR of 6.7% from 2020 to 2027.
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By end-use industry, the oil & gas segment accounted for the highest share in 2019, contributing to more than one-tenth of the global steel grating market, and is projected to maintain its lead position by 2027. However, the pharmaceuticals segment is expected to witness the largest CAGR of 5.5% from 2020 to 2027.
By region, Asia-Pacific contributed the highest share in 2019, holding more than one-third of the global market, and will maintain its leadership status throughout the forecast period. Moreover, this region is estimated to witness the fastest CAGR of 6.0% from 2020 to 2027. The report also discusses regions including North America, Europe, and LAMEA.
Major players of the global steel grating market analyzed in the research include Nucor Corporation, Sinosteel Corporation, Valmont Industries, Anping Enzar Metal Products Co. Ltd., Alabama Metal Industries, Corporation (AMICO), P&R Metals, Ohio Gratings, Interstate Gratings, Lionweld Kennedy, and Litchgitter GmbH.
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David Correa
Allied Market Research
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MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.