According to the research report titled ‘Global Light Gauge Steel Framing Market Size study, by Type (Long Span, Wall Bearing and Skeleton), End-Use (Commercial, Residential and Industrial) and Regional Forecasts 2020-2027’, available with Market Study Report, global light gauge steel framing market was assessed at USD 5.44 billion in 2019 and is speculated to be worth USD 12.63 billion by 2027, expanding at an annual rate of 11.1% between 2020-2027.
 

Features like improved safety & stability, decreased completion time, and higher strength are driving worldwide light gauge steel framing industry expansion. Moreover, adoption of modern & ecofriendly designs, growing investments in large industries, and increasing construction activities will aid market growth as well.
 

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For example, in 2021, Graitec, supported by Apax Partners LLP, acquired StrucSoft Solutions Ltd. with an aim to strengthen their technical capability for create-simulate-fabricate-manage strategy, thereby serving the construction end-user vertical in a better way.
 

For the unversed, light gauge steel framing is mainly used to build structures such as load bearing exterior walls, non-load bearing interior walls, floor joists, roof trusses, and curtain walls. Structural frames are fabricated with cold formed steel sections coated with zinc or made from an amalgamation of aluminum and zinc to prevent corrosion.
 

As compared to wood frame construction, light gauge steel framing provides larger space, which coupled with development of commercial buildings such as garages, medical centers, retail stores, hotels, and warehouses will aid industry proliferation in the forthcoming years.
 

On the other hand, high maintenance costs is poised to act as a challenge. Meanwhile, pollution free nature of light gauge steel framing and its use as raw material for green building technology will increase its adoption between 2020-2027.
 

From the regional frame of reference, Asia Pacific captured a significant portion of worldwide light gauge steel framing industry share in 2019, as a result of increasing residential and non-residential building construction in developing countries like India and China. Further, increasing customer awareness about eco-friendly nature of technology and surging disposable income will sway the business dynamics forwards in APAC.
 

Key players profiled in the report are Emirates Building Systems Co. (LLC), FRAMECAD Limited, Hadley Group, Precision Walls Inc., Aegis Metal Framing LLC, Clarkwestern Dietrich Building Systems LLC, QSI Interiors Ltd., Metek plc, Intelligent Steel Solutions Ltd., and CRACO Manufacturing Inc.