According to the latest report by IMARC Group, titled “Steel Grating Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global steel grating market reached a value of US$ 191.7 Billion in 2021. Steel gratings are lightweight metal products with open grid assemblies of metal bars capable of holding heavy loads. They are fabricated using welded steel, swage locked, press locked, close mesh steel, and riveted grating processes. Steel gratings are widely used in floors, stairways, security fences, platforms, workshops, and drainage covers. They offer high tensile strength, durability, anti-deformation properties, low maintenance cost, extended service life, improved ventilation, easy cleaning, and adaptability. They also exhibit anti-slip surfaces, corrosion and scratch resistance, and high load capacities.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Steel Grating Market Trends-
The increasing demand for steel grating in several end-use industries due to rapid industrialization is one of the key factors driving the market growth. For instance, steel gratings are widely utilized in the construction of maintenance floors in factories, stair treads, platforms, walkways, motor rooms, trolley channels, heavy loading areas, and boiler equipment. Furthermore, widespread product utilization in wastewater treatment plants as walkway decks due to their anti-corrosion and moisture-resistant properties is acting as another growth-inducing factor. Apart from this, the introduction of steel gratings manufactured using the electro forging process to provide a positive fused connection with high metallurgical strength and the non-slip walking surface is providing an impetus to market growth. Moreover, the increasing product demand for offshore oil and gas exploration projects due to their explosion-proof, high load capacity, and slip-resistant properties is creating a positive outlook for the market. Other factors, including rising investments by several governments in infrastructure development projects and extensive research and development (R&D) activities to improve strength, reduce cost, and provide customization, are anticipated to drive the market toward growth. On account of the aforementioned factors, the market value is expected to reach US$ 254.0 Billion by 2027, exhibiting a CAGR of 4.50% during 2022-2027.
- On the basis of the material type, the market has been divided into carbon, stainless, and mild steel grating.
- Based on the fabrication, the market has been categorized into welded steel, swage locked, press locked, riveted grating, and close mesh steel grating.
- On the basis of the surface type, the market has been bifurcated into serrated and plain steel grating.
- Based on the application, the market has been classified into walkways, stair treads, platforms, security fence, drainage cover, trench covers, and others.
- On the basis of end use industry, the market has been divided into oil and gas, food processing, pharmaceuticals, cement, chemical, mining, marine, civil engineering, wastewater treatment, and others.
- On a regional basis, the market has been categorized into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and Others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and Others) Latin America (Brazil, Mexico and Others), and Middle East and Africa.
- The competitive landscape of the industry has also been examined, with some of the key players being Alabama Metal Industries Corporation (Gibraltar Industries Inc.), IKG, Interstate Gratings LLC, Lionweld Kennedy Flooring Limited (Hill & Smith Holdings), Lichtgitter GmbH, Marco Specialty Steel Inc., Meiser GmbH, Nucor Corporation, Ohio Gratings Inc., P&R Metals Inc., Sinosteel Corporation and Valmont Industries Inc.
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