According to the latest report by IMARC Group, “Global Steel Grating Market Size, Share, Growth, Industry Trends, Opportunity and Forecast 2022-2027“, the global steel grating market reached a value of US$ 191.7 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 254.0 Billion by 2027 exhibiting a CAGR of 4.50% during 2022-2027.
A steel grating, also called bar grating, refers to an open grid assembly of metal bars that hold heavy loads with minimal weight. Some of the commonly available variants include powder-coated carbon, stainless, galvanized, etc. Furthermore, steel gratings offer several benefits, such as durability, sustainability, high tensile strength, ease of cleaning, ventilation and penetration of light, fixation and dismantling, etc. As a result, steel gratings are extensively utilized across various sectors, including oil and gas, food processing, mining, pharmaceutical, chemical, etc.
Steel Grating Market Trends and Drivers:
The inflating need for wastewater treatment plants to withstand corrosive and high-moisture environments is primarily driving the steel grating market. Additionally, the widespread product adoption in drilling platforms to explore offshore oil and natural gas resources, owing to its high bearing capacity and explosion-proof properties, is further stimulating the market growth.
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Besides this, the increasing utilization of steel grating in mezzanines, floors, stair treads, fencing, heavy equipment areas, and maintenance platforms of workshops, factories, motor rooms, trolley channels, boilers, etc., is acting as another significant growth-inducing factor.
Moreover, the growing number of tracks for pedestrian, physically challenged, and geriatric populations to walk freely and safely on roads is also propelling the product demand across countries. Apart from this, the rising investments by government bodies in infrastructural development are anticipated to fuel the steel grating market over the forecasted period.
Note: 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 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
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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The report has segmented the market on the basis of region, product type, chemical composition, manufacturing process and application.
Breakup by End Use Industry:
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