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The global light gauge steel framing market is expected to grow at a moderate pace during the forecast period.
This can be attributed to the increasing investments in infrastructure development and several benefits associated with the light gauge steel framing.
However, the high maintenance costs for making it corrosion and fire resistant might hamper the market growth.The global light gauge steel framing market is expected to grow with 4.8% CAGRfrom 2019 to 2024.Key PlayersThe prominent players operating in the global light gauge steel framing market areMetek Plc.
(UK), Hadley Industries PLC (UK), Intelligent Steel Solutions Ltd (UK), ARKITECH ADVANCED CONSTRUCTION TECHNOLOGIES (Turkey), Scottsdale Construction Systems Ltd (Australia), Steel Construction Systems (US), Emirates Building System (UAE), and Stowell Company, Inc. (US).Genesis Manazil Steel Framing (UAE), CRACO Manufacturing Inc. (US), Steel Frame Solutions (Australia), Steel HQ (Hong Kong), HQ Stainless Steel Sdn Bhd.
(Malaysia), and beSteel (Belgium) are some of the other key players operating in the global light gauge steel framing market.Asia-Pacific is anticipated to witness the maximum growth rate in the globalLight Gauge Steel Framing market: MRFRGeographically, the global light gauge steel framing market has been segmented into four major regions, namely North America, Europe, Asia-Pacific, and the rest of the world (RoW).
Moreover, there has been an increasing need for corporate spaces, hotels, shopping malls, schools, hospitals, and other commercial buildings in Asia-Pacific due to the rapid urbanization and industrialization.