Steel Grating Market - Forecast(2023 - 2028)

Overview

Steel Grating Market size is forecast to reach $61.74 billion by 2025, after growing at a CAGR of 7.90% during 2020-2025. The steel grating market is expected to grow during the forecast period as it is reliable, durable and strong with high tensile strength when compared to fiber grating and aluminum. Increase in applications and technological innovations in end-use industries is a major factor for the growth of steel grating market during the forecast period.

Report Coverage

The report: “Steel Grating Market – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Steel Grating Industry.

Key Takeaways

• Government infrastructure development projects and several government initiatives to promote green buildings have resulted in rise in the construction of commercial and residential properties worldwide, thereby contributing to the market growth.
• Asia-Pacific region overtop the steel grating market due to increasing demand majorly from residential construction and non-building construction.

By Type - Segment Analysis

Stainless steel grating segment held the largest share in the steel grating market in 2019. Stainless steel bar grating is a set of bearing bars coupled with perpendicular crossbars at different intervals to form a load-bearing panel ideal for use as a pathway for pedestrian and lightweight rolling traffic, which includes hand trucks, carts, and dollies. With an open-grid construction, this grating type requires minimal maintenance and provides superior light passage, air circulation and drainage. Carbon Steel grating is a heavy-duty product that can be used where open flooring is needed for light, air and heat transmission.

By Application - Segment Analysis

Sewage treatment held the largest share in the steel grating market in 2019 growing at a CAGR of 7.32% during the forecast period. Steel grating is widely used as a walkway and platform instead of concrete platforms to overcome obstacles or cross wastewater places in sewage treatment plants. Steel grating platform in sewage plant shares characteristics with good corrosion resistance, easy installation, easy removal, anti-skid, anti-rust and high bearing force.

Geography - Segment Analysis

Asia-Pacific dominated the steel grating market with a share of more than 41% during the forecast period.  In various countries such as China and India, high investments are being made for industrial growth and infrastructure development. Furthermore, expansion of the construction sector, especially in Asia Pacific is anticipated to drive the steel grating market during the forecast period.

Drivers – Steel Grating Market

·         Advancements in technology like high load capacity

The steel grating technology demands contains many aspects, the steel grating loads, material and the steel grating surface treatment. The solid and firm structure makes steel grating have high load-carrying capacity. Especially the swage locked grating and press-locked grating, which can supply the excellent lateral stiffness to the steel grating. The heavy-duty steel grating can not only available for pedestrians walking, but also permit the heavy-duty vehicles safely passing through.

Challenges – Steel Grating Market

·         Emission of carbon during the production of steel grating

The greenhouse gas of most relevance to the world steel industry is carbon dioxide (CO2). According to World Steel Organization, on average for 2017, 1.83 tons of CO2 were emitted for every ton of steel produced. The steel industry generates between 7% and 9% of direct emissions from the global use of fossil fuel. Hence, emission of carbon during the production of steel grating hinders the steel grating market during the forecast period.

Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the hydrofluoric acid market. In 2019, the market of steel grating has been consolidated by the top five players accounting for xx% of the share. Major players in the steel grating market are Amico Industrial Group, Harsco Corporation, Interstate Grating Inc, Lionweld Kennedy, Ningbo Jiulong Machinery Manufacturing Co Ltd, Nucor Corporation, Ohio Grating, and Sinosteel Corporation among others.

Acquisition

• In February 2017, Fisher & Ludlow, Inc. acquired  the assets of Alabama Metal Industries Corporation's (AMICO's) bar grating facility as well as the bar grating equipment and related inventory at three other AMICO locations. Fisher & Ludlow fabricates steel and aluminum bar grating products that are sold under the brand name Nucor Grating.