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Global Steel Grating Market to Grow at a CAGR of 4.7% During 2021-2026, Aided by Favourable Government Programmes

According to a new report by EMR titled, ‘Global Steel Grating Market Report and Forecast 2021-2026’, the industry is expected to grow at a CAGR of 4.7% in the forecast period of 2021-2026 to reach a value of about USD 249.5 billion by 2026.

Government infrastructure development projects and various government programmes to encourage green buildings have resulted in an increase in commercial and residential property construction throughout the world, consequently aiding the market growth. In sewage treatment facilities, steel grating is commonly utilised as a walkway and platform instead of concrete platforms to overcome barriers and traverse wastewater areas. Steel grating platforms in sewage plants have strong corrosion resistance, and these are simple to instal and remove, are anti-skid, anti-rust, and have a high bearing force. High investments are being made in many nations, such as China and India, for industrial expansion and infrastructural development. This is expected to facilitate the market growth. Furthermore, throughout the forecast period, the steel grating industry is expected to be driven by the growth of the construction industry, particularly in the Asia Pacific region.

Nucor Corporation (NYSE: NUE), one of the top leaders in the steel grating industry, announced on June 7, 2021, that it had signed a formal acquisition agreement to buy Cornerstone Building Brands' insulated metal panels (IMP) business for USD 1 billion in cash, or around ten times pre-pandemic EBITDA, including projected synergies. Nucor's realised effective acquisition price is around $900 million after accounting for the net present value of associated tax advantages. Regulatory clearances are pending; the acquisition is likely to conclude later this year. The growth of the key players is expected to bolster the overall market for steel grating.

Market Analysis by Product Type, Surface Type, Fabrication, Application, End Uses, and Region:

  • The market, on the basis of product type, can be divided into stainless steel grating, carbon steel grating, and aluminium steel grating.
  • Based on surface type, the industry can be divided into plain steel grating and serrated steel grating.
  • The fabrication for steel grating includes welded steel grating, swage steel grating, press locked grating, riveted grating, and close mesh steel grating, among others.
  • Based on application, the industry can be divided into stair tread, walkways, platforms, security fence, drainage covers, and trench covers, among others.
  • The market for steel grating is divided on the basis of end uses into food processing, pharmaceuticals, cement, steel, chemical, paper making, oil and gas, electric power, mining, marine, wastewater treatment, and civil engineering, among others.
  • The regional markets for steel grating include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • Government investment in the construction sector has driven the steel grating industry in the historical period.
  • Rise in demand for steel grating in the construction sector is expected to cater to the growth of the steel grating industry.
  • Due to expansion and advancement in the technological domain, there is growth in the steel grating industry.
  • Market growth of the oil and gas industry has helped the steel grating industry to flourish further.

Key Offerings of the Report:

  • The EMR report gives an overview of the global steel grating market for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the product types, surface types, fabrications, applications, end uses, and regions of steel grating.
  • It assesses the regional price trends for the (2016-2020) and (2021-2026) periods. 
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global market for steel grating are Alabama Metal Industries Corporation, Anping Enzar Metal Products Co., Ltd., Interstate Gratings, LLC., Lionweld Kennedy Flooring Ltd., Ohio Gratings Inc., Lichtgitter GmbH, Nucor Corporation, and Valmont Industries, Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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