Press-Locked Grating Market - Forecast(2023 - 2028)

Press-Locked Grating Market size is forecast to reach US$785.9 million by 2026, after growing at a CAGR of 5.1% during 2021-2026. The Press-Locked Grating Market is primarily driven by growing industrial activities and development, especially in petrochemical, food & beverage, energy, oil & gas, mining, and construction. The demand for press-locked grating is owing to its properties such as lightweight, high bearing capacity, anti-rust, non-slip, and explosion-proof. It is mostly preferred in building ramps, pipeline platforms, trench covers, crossover platforms, catwalks, flooring, security fences, and machine guards in the oil and gas industry. Thus, the constant government initiatives on the development, expansion, offshore construction, pipeline of the oil and gas sector are anticipating the market growth. For instance, in 2021 Numaligarh Refinery Ltd India has put an order worth US$39 million supply of carbon steel line pipes as it initiated an integrated refinery expansion project from 3 to 9 MMTPA (million metric tons per annum). Thus, initiating an increase in demand for carbon steel press locked grating as it is used in the pipeline flooring. On the other hand, according to India Brand Equity Foundation, India is expanding its natural gas grid to 34,500 km by adding another 17,000 km gas pipeline by the year 2022. And with the increasing development activities, it is anticipated that the oil and gas market will be flourished. Thus, the increasing demand for press-locked grating in the oil and gas sector is set to act as an opportunity for market growth during the forecast period.

During the COVID-19 pandemic, several manufacturing industries, including construction and infrastructure, were forced to shut down their production facilities and services worldwide implemented partial or complete lockdown policies in response to the pandemic, resulting in significant production losses for the manufacturers. During the year 2020, owing to the global pandemic, the GDP contribution from the construction sector of Brazil decreased to US$2,562.8 million from US$2,598.0 million. Thus, the market of the press-locked grating was partially affected during the Covid-19 pandemic in 2020. 

The report “Press-Locked Grating Market– Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of the Press-Locked Grating Industry.

By Product Type: Carbon Steel Grating, Aluminum Bar Grating, Stainless Steel Grating and others.

By Fabrication: Full-locked Grating, Heavy-duty Pressed Grating, Louver Grating and others.

By Application: Platforms (Parking Lot, Power Plant, Waste Treatment Factories, and others), Walkway (Port, Offshore, Gardens, Pedestrian Street and others) and others.

By End-Use Industry: Industrial (Petrochemical, Food & Beverage, Energy, Oil & Gas, Mining, and others), Marine, Transportation, Construction & Infrastructure and others. 

By Geography: North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Poland, Rest of Europe), APAC (China, India, Japan, South Korea, Taiwan, Thailand, Indonesia, Australia and Rest of Asia Pacific), South America (Brazil, Argentina, Colombia, Chile, Rest of South America) and RoW (Middle East, and Africa).

The carbon steel grating segment held the largest share in the Press-Locked Grating Market in 2020 and is anticipated to grow at a CAGR of 5.5% by revenue through the forecast period 2021-2026. Most of the press gratings is made of low carbon steel and stainless steel. Pressure-locked grating is extensively used for ceilings, platforms, floors, fences, and other types of covers in factories, civil and commercial structures because of its high bearing capacity, non-slip, anti-corrosion, and ease of installation and removal. Carbon steel has higher thermal conductivity, high tensile strength and hardness than stainless steel, which is one factor most of the suppliers and consumers prefer carbon steel over other materials. Carbon steel grating is preferred when the manufacturer requires a strong material that is vulnerable to corrosion. Carbon steel grates allow liquid to pass through the material, which helps to prevent slipperiness and can withstand hazardous work conditions. Thus, it is functional for industrial decks and flooring in chemical plants, food processing facilities, and oil and gas refineries. The demand for carbon steel is rising from the end-use like industrial, construction, and infrastructure as it is ideal for industrial flooring and metal grates and is appropriate for highways, airport runways, bridge floors, and wheel traffic applications. For instance, according to the United States Census Bureau, the imports of carbon steel commodities for infrastructure in the US have witnessed a growth of 22% in July 2021 compared to the previous year. 

The heavy duty pressed grating segment held the largest share in the Press-Locked Grating Market in 2020 and is anticipated to grow at a CAGR of 5.8% by revenue during the forecast period 2021-2026 due to the growing demand from end-use industries, especially in the transportation and industrial application. Heavy-duty pressed grating is designed to carry heavy rolling loads and are designed to service applications subject to heavy rolling and static loads such as airfield landing mats, highway bridge decking, ventilation grills, curb inlet grates, ramps, docks, sidewalks, concrete reinforcements, vault covers, industrial flooring, trenches, marine platforms, and paper mills. According to National Association of Architectural Metal Manufacturers standards, the heavy duty pressed grating is custom fabricated and can be customized to any size and depth. Moreover, rust-free, sturdy built, reasonably priced are just a few of the benefits of heavy-duty pressed grating, which are also expected to drive market expansion globally. The above-mentioned factors are forecasted to boost the segmental growth of the Press-Locked Grating Market. Heavy-duty pressed grating is primarily used for areas automobiles, forklift traffic, and others. They carry the same load capacity of crossbar spacing but do provide a tighter opening. Typical applications include vehicular trenches, vehicular sump pits, airfields, bridges, plant floors, loading docks, and other areas with trucks, vehicles.

The walkway segment held the largest share in the Press-Locked Grating Market in 2020 and is anticipated to grow at a CAGR of 5.5% by revenue during the forecast period 2021-2026. Press locked gratings are used in the walkways in the port and offshore because they are much easier to install and uninstall than other material walkways. The press-locked walkway grating used in the gardens and pedestrians show properties like good air and water ventilation. According to a news article by Borgan Project Organization, South Korea’s government announced the construction of an 8.2-gigawatt offshore wind facility by 2030. This project will be the world’s largest single offshore wind development. Press locked gratings are suitable for pedestrians with wheelchairs, baby carriages, skates, and other wheel equipment passing through. In addition, there are many ongoing projects of offshores, gardens, and pedestrian streets, increasing the demand for press-locked gratings. In addition, the rising construction activities across the globe is the primary factor driving the press-locked gratings in walkway application. For instance, according to National Buildings Construction Corporation (NBCC), in 2020, India has started the construction of two multi-level parking sites and be completed, in phases, by 2024. The facilities will provide accommodation for 330 buses and 690 vehicles each, which is two times larger than the existing sites. Such developments are expected to drive the Press-Locked Grating Market growth during the forecast period.

The industrial segment is the fastest-growing segment in the Press-Locked Grating Market in 2020 and is anticipated to grow at a CAGR of 5.6% by revenue during the forecast period 2021-2026 due to the growing industrialization across the globe. Further, rising investment in petrochemicals and the oil & gas industry is fueling the market growth. The number of oil and gas plant and pipeline construction-related projects is rapidly increasing, which will positively impact the overall market. For instance, Alaska LNG Liquefaction Plant project, USA worth US$43 billion, Surat Gas Project worth US$7.15 billion in Queensland, Australia which is expected to in 2024- 2026. According to IEA (International Energy Agency), global oil consumption is expected to exceed 104.1 million barrels per day (mbd). This would be a 4.4 mbd increase from 2019 levels. According to the Interstate Natural Gas Association of America, in the U.S and Canada, a total of US$791 billion in investments in new oil and gas infrastructure will be made from 2018 to 2035. Mexico is the world's tenth-largest oil producer, with a reserve of around 11.1 billion barrels, according to the Australian Trade and Investment Commitment. Mexico's oil output is expected to double by 2030, to 5 million barrels per day. In addition, by 2025, India's northeast oil exploration acreage and output are expected to be doubled. Thus, the increasing expansion in the petrochemical industry is driving the demand for press-locked gratings.

The Asia-Pacific region held the largest share in the Press-Locked Grating Market in 2020 up to 30.9% and is anticipated to grow at a CAGR of 6.0% by revenue during the forecast period 2021-2026, owing to the increasing demand for the industrial sector, construction, and infrastructure. For instance, in 2021, the Chinese government approved a nationwide program of urban park construction and attributed to investing about US$15 billion every year for the next five years to build 1000 large parks. On the other hand, the number of airport building projects in China is aligned to set the market growth in the forecasted period. Further, a shift of the manufacturing sector to India will create an opportunity for Press-Locked Grating Market growth in the coming years. In February 2021, the Indian government launched key oil & gas projects in Assam, such as INDMAX Unit at Indian Oil’s Bongaigaon Refinery, Oil India Limited's secondary tank farm at Madhuban, Dibrugarh, and a ‘Gas Compressor Station’ at Hebeda Village, Makum and Tinsukia remotely from Dhemaji in Assam. In April 2021, China Oil and Gas Pipeline Network, or PipeChina, started the construction for natural gas trunkline plant in north China that will connect a Tianjin import terminal to a new economic development called Xiongan near Beijing, this project will be completed by the end of 2022. In September 2021, the Government of India's Ministry of Petroleum and Natural Gas has approved oil and gas projects totaling Rs 1 lakh crore (US$13.59 billion) in Northeast India, which will be completed by 2025. Also, in July 2021, Bharat Petroleum Corporation Ltd. (BPCL) announced that it would build its first-generation ethanol plant in Telangana for a cost of Rs 1,000 crore (US$ 134.04 million). Therefore, the growth in these industries are driving Press-Locked Grating Market growth in the Asia Pacific region.

The Press-Locked Grating Market is predominantly driven by rising demand from end-use industries such as food and beverage, chemical, oil & gas, energy, wastewater treatment, mining, and petrochemical, especially in the developing economies. The press-locked grating can be manufactured from carbon steel, aluminum, stainless steel, and others. Press-locked grating usage in these industries includes its application as a platform for the parking lot, power plants, walkways in the garden or park, ports, drainage covers, trench covers, and others. The rise in demand is attributed to physical properties such as high bearing capacity, skid-proofing, ease of fixation and dismantling, anti-deformation, ventilation and penetration of light, ease of cleaning, cost-effectiveness, and durability. Thus, the development in the end use industries is anticipated the market growth of press-locked grating. In March 2021, industrial construction output increased by 5.8% due to an increase in both new work and repair and maintenance according to the Office for National Statistics in the United Kingdom. There is a constant demand for stainless steel press-locked grating from the petrochemical and oil and gas industry owing to its high-strength and corrosion resistant properties. It is often used in applications, which include docks, ramps, platforms, trench covers, crossover platforms, catwalks, flooring, security fences, and machine guards. For instance, the demand for stainless steel press-locked grating is escalating in the African region as in 2021 the Country’s government has invested US$1.4 billion in petrochemical and ammonia plants. Thus, the development and government initiatives towards the industrial end-use expansion are boosting the market growth for the press-locked grating in the forecast period.

The cost fluctuation of raw materials for press-locked grating, which includes steel and aluminum, is one of the biggest factors hampering the market growth. Increased raw material prices due to high demand have become a critical issue for manufacturers of press-locked grating in different regions. For instance, in 2020 Europe has witnessed price hikes in carbon steel as top steelmakers in Europe have raised prices of carbon steel, ArcelorMittal has raised its EU HRC spot prices by US$695.32 per ton from around US$625 per ton. Furthermore, Tata Steel Europe reported a loss of US$61.6 million during 2020(Q3). Since the beginning of 2021, the cost of raw materials used in the manufacturing of press-locked has rapidly increased, and non-raw material input costs, including labor, freight, and energy, continue to rise beyond expectations. According to the U.S. Geological Survey, in 2020 the average annual U.S. aluminum market price declined by about 11% from that in 2019. And the value of primary aluminum production was about US$1.98 billion, 17% less than the value in 2019. As a result, the demand for aluminum decreased by 12.5% in 2020. However, Manufacturers are functioning hard to maintain a challenging market position along with the maintenance of customers by executing a low-cost strategy for press-locked grating, hence compromising on their profit margins. Besides, the global production of primary aluminum in 2020 was 65,325 thousand metric tons, a 49.3% decline from the previous year as reported by International Aluminum Organization. Therefore, the volatility in the prices of raw materials might hinder the market growth of press-locked grating in the forecast period.

Technology launches, acquisitions and R&D activities are key strategies adopted by players in this market. Press-Locked Grating top 10 companies include