Steel Grating Market Demand, Research, Future Trends, Growth Prospects (2023 - 2030)
Steel Grating Market Overview:
The Global Steel Grating Market Share (Opens in a new window) in recent years, driven by a surge in construction and infrastructure development projects worldwide. Steel grating, a crucial component in industrial flooring and walkways, has experienced heightened demand owing to its durability, strength, and cost-effectiveness. The market has been further propelled by the growing emphasis on safety regulations in industrial settings, where steel grating plays a pivotal role in providing secure and slip-resistant surfaces. Additionally, innovations in steel grating design and materials are fostering market expansion, catering to diverse industries such as manufacturing, energy, and transportation.
The steel grating market was USD 182.14 Billion in 2022.It (Opens in a new window) is projected to reach USD 242.16 Billion by 2030, indicating a CAGR of 3.7% during the forecast period.
Market Key Players:
Alabama Metal Industries, Amicro Group of Companies Lionweld Kennedy, Marco Specialty, Meiser GmbH, NJMM Inc., Nucor Corporation, Ohio Gratings, P&R Metals, Inc., Sinosteel Corporation, and Valmont Industries, Inc.
Market key drivers:
Several key drivers are steering the growth of the steel grating market. The burgeoning construction industry, particularly in emerging economies, is a primary factor. The need for robust and long-lasting flooring solutions in industrial and commercial spaces has intensified, fostering the demand for steel grating. Furthermore, a rising awareness of the advantages of steel grating, such as its corrosion resistance and low maintenance requirements, is influencing market dynamics. Technological advancements in manufacturing processes and materials are also contributing to the market's upward trajectory, providing enhanced product performance and durability.
Market Segmentation:
By Material Type: Stainless Steel Grating, Carbon Steel Grating, Aluminum Steel Grating, and Others
By Product Type: Plain Steel Grating, and Serrated Steel Grating
By Fabrication: Welded Steel Grating, Press Locked Grating, Riveted Grating, Close Mesh Steel Grating, Swage Locked Grating, and Others
By Application: Stair Treads, Security Fence, Drainage Covers, Walkaways, Platforms, Trench Covers, and Others
By End-use Industry: Chemical Industry, Food Industry, Oil & Gas, Water Treatment Plants, Petrochemicals, Pharmaceutical Industry, Marine and Others
Regional Analysis:
The robust expansion of the Asia Pacific region has played a pivotal role in propelling steel grating market share (Opens in a new window), primarily driven by the flourishing chemical, petrochemical, pharmaceutical, oil & gas, water treatment, and various other industries. Notably, the Indian pharmaceutical sector, as highlighted by data from the Ministry of Commerce & Industry in May 2022, witnessed remarkable growth, reaching a substantial US$ 50 billion in the fiscal year 2021-22. Projections indicate a further surge to USD 65 billion by 2030. This surge in diverse industries throughout the region positions the steel grating market for lucrative opportunities, anticipating significant growth throughout the forecast period.
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