Global Light Steel Framing (LSF) Market Growth 2024-2030
Light Steel Framing (LSF): Valued at US$ 21.45 billion in 2023, expected to reach US$ 40.98 billion by 2030, with a 9.7% CAGR, driven by growing demand in the downstream market.
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According to Publisher’s latest study, the global Light Steel Framing (LSF) market size was valued at US$ 21450 million in 2023. With the growing demand in the downstream market, the Light Steel Framing (LSF) is forecast to have a readjusted size of US$ 40980 million by 2030 with a CAGR of 9.7% during the review period.
Market Overview
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The research report highlights the growth potential of the global Light Steel Framing (LSF) market. Light Steel Framing (LSF) is expected to show stable growth in the future market. However, product differentiation, reducing costs, and supply chain optimization remain crucial for the widespread adoption of Light Steel Framing (LSF). Market players need to invest in research and development, forge strategic partnerships, and align their offerings with evolving consumer preferences to capitalize on the immense opportunities presented by the Light Steel Framing (LSF) market.
Light steel framing refers to a construction method that utilizes cold-formed steel sections or light gauge steel members to create the structural framework of a building. It is an alternative to traditional wood or heavy steel frame construction and is commonly used in residential, commercial, and industrial structures.
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Manmayi Raval
Research Consultant
The report on the Light Steel Framing (LSF) market reflects various aspects and provides valuable insights into the industry.
Market Drivers: Boosting Construction Activity to Promote Market Expansion The increasing number of construction projects are expected to fuel expansion in the light steel framing (LSF) industry globally. It is anticipated that the construction sector will expand significantly, which will also affect the steel frame sector. It is anticipated that both residential and commercial construction will rise, necessitating the need for stronger structures. It's also expected that demand for framing materials will rise. In comparison to pre-fabricated structures, the construction projects are also finished faster. It is anticipated that the new building projects will increase market demand.
Reduced Prices to Increase Market Demand: As a result of the falling price of frame steel, demand is increasing swiftly. Compared to light framing steel, concrete requires a lot of time. Large-scale concrete purchases are quite expensive, however LSF product purchases are less expensive. Concrete projects are expensive and time-consuming, but they go faster than LSF. It is anticipated that these elements will fuel market expansion and demand.
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Challenges- Perception and Awareness: Although light steel frame has many benefits, there are issues with perception and awareness among those involved in the building business. Some developers, architects, and builders may not know much about LSF systems or have false beliefs about how well they work in comparison to more conventional building materials.
Regulatory restrictions: In some areas, the widespread adoption of LSF systems may be hampered by building codes and regulatory restrictions. Diverse jurisdictions may have different building codes, certification procedures, and compliance requirements, which could impede market expansion and add to the complexity of projects for LSF contractors and manufacturers.
Lack of Skilled personnel: The design, production, and installation of LSF systems necessitate the use of skilled personnel. The construction sector has a shortage of trained personnel, especially in specialized crafts like prefabrication and steel framing, which can impede the scalability of large-scale projects and restrict market expansion.
Market Forecasts and Future Outlook: Innovation and Product Development: Ongoing research and development expenditures aimed at improving the sustainability, performance, and efficiency of LSF systems. Material science, manufacturing, and construction innovations can create a competitive edge and generate market differentiation.
Market Expansion: To take advantage of the increasing number of building projects and infrastructure developments, expanding into emerging markets and underserved areas within already established markets. Alliances with regional stakeholders, joint ventures, and strategic partnerships can help with market entry and growth.
Opportunities: Market Expansion: LSF producers and contractors might have substantial development prospects by venturing into unexplored areas and rising markets. A climate that is favourable for market expansion is created by rapid urbanization, infrastructure development, and government actions to support sustainable construction practices. In areas where there is a strong demand for construction, strategic alliances, joint ventures, and partnerships with local stakeholders can help companies enter new markets and expand more quickly.
Market Segmentation:
The Light Steel Framing (LSF) market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value. In terms of product type, H-shaped Steel occupies the largest share of the total market, about 47%. In terms of product application, the largest application is Residential, followed by Commercial.
1. Segmentation by type
• H-shaped Steel
• C-Shaped Steel
• Hollow Section
• Others
2. Segmentation by application
• Commercial
• Residential
Regional Insights: America: Due to the country's strong building industry, especially in the residential and commercial sectors, America represents a sizable market for LSF. The area gains from well-known LSF producers, advantageous legal environments, and rising interest in environmentally friendly building methods. Europe: Tight energy efficiency laws, a focus on sustainable building methods, and developments in steel framing technology are all contributing to the growing use of LSF systems in Europe. In terms of LSF adoption and innovation, the UK, Germany, and Scandinavia lead the market. Asia-Pacific: The need for LSF solutions is being driven by the region's rapid infrastructural development and urbanization. LSF producers can benefit greatly from the economic prospects presented by emerging economies like China, India, and Southeast Asia, which are bolstered by government efforts, housing construction programs, and urban regeneration projects. China is the largest market, with a share of about 42%, followed by Europe and North America, with a share of about 19% and 16%.
1. Americas
• United States
• Canada
• Mexico
• Brazil
2. APAC
• China
• Japan
• Korea
• Southeast Asia
• India
• Australia
3. Europe
• Germany
• France
• UK
• Italy
• Russia
4. Middle East & Africa
• Egypt
• South Africa
• Israel
• Turkey
• GCC Countries
Competitive Landscape- The global 5 largest manufacturers of Light Steel Framing (LSF) are BlueScope Steel, Nakayama Steel Works, ClarkDietrich, Jinggong Steel Building Group and Honglu Steel Construction Group, which make up about 28%. Among them, BlueScope Steel is the leader with about 8% market share.
• BlueScope Steel
• Nakayama Steel Works
• ClarkDietrich
• Jinggong Steel Building Group
• Honglu Steel Construction Group
• Hangxiao Steel Structure
• Kirii Construction Materials
• MiTek
• Zhejiang Southeast Space Frame
• Hadley Group
• Fuhuang Steel Structure
• CEMCO
• Sigmat
• Voestalpine Metsec
• Metek
Table of Contents
1 Scope of the Report
1.1 Market Introduction
1.2 Years Considered
1.3 Research Objectives
1.4 Market Research Methodology
1.5 Research Process and Data Source
1.6 Economic Indicators
1.7 Currency Considered
1.8 Market Estimation Caveats
2 Executive Summary
2.1 World Market Overview
2.1.1 Global Light Steel Framing (LSF) Annual Sales 2019-2030
2.1.2 World Current & Future Analysis for Light Steel Framing (LSF) by Geographic Region, 2019, 2023 & 2030
2.1.3 World Current & Future Analysis for Light Steel Framing (LSF) by Country/Region, 2019, 2023 & 2030
2.2 Light Steel Framing (LSF) Segment by Type
2.2.1 H-Shaped Steel
2.2.2 C-Shaped Steel
2.2.3 Hollow Section
2.2.4 Others
2.3 Light Steel Framing (LSF) Sales by Type
2.3.1 Global Light Steel Framing (LSF) Sales Market Share by Type (2019-2024)
2.3.2 Global Light Steel Framing (LSF) Revenue and Market Share by Type (2019-2024)
2.3.3 Global Light Steel Framing (LSF) Sale Price by Type (2019-2024)
2.4 Light Steel Framing (LSF) Segment by Application
2.4.1 Commercial
2.4.2 Residential
2.5 Light Steel Framing (LSF) Sales by Application
2.5.1 Global Light Steel Framing (LSF) Sale Market Share by Application (2019-2024)
2.5.2 Global Light Steel Framing (LSF) Revenue and Market Share by Application (2019-2024)
2.5.3 Global Light Steel Framing (LSF) Sale Price by Application (2019-2024)
3 Global Light Steel Framing (LSF) by Company
3.1 Global Light Steel Framing (LSF) Breakdown Data by Company
3.1.1 Global Light Steel Framing (LSF) Annual Sales by Company (2019-2024)
3.1.2 Global Light Steel Framing (LSF) Sales Market Share by Company (2019-2024)
3.2 Global Light Steel Framing (LSF) Annual Revenue by Company (2019-2024)
3.2.1 Global Light Steel Framing (LSF) Revenue by Company (2019-2024)
3.2.2 Global Light Steel Framing (LSF) Revenue Market Share by Company (2019-2024)
3.3 Global Light Steel Framing (LSF) Sale Price by Company
3.4 Key Manufacturers Light Steel Framing (LSF) Producing Area Distribution, Sales Area, Product Type
3.4.1 Key Manufacturers Light Steel Framing (LSF) Product Location Distribution
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