0

Steel Grating Market is Expected to Reach $261.2 Billion by 2027

 
2022
Steel Grating Market

Report Code : A02889

quote the global steel grating market is expected to head toward growth expansion in the coming years, owing to rise in demand for steel grating from chemical, oil & gas, pharmaceutical, and construction industries. In addition, the COVID-19 outbreak across the globe has halted manufacturing activities due to lockdown that has reduced demand for steel grating as many manufacturing units across the globe have barred their operations. However, across some countries in Asia-Pacific, such as India and China, the restrictions have been lifted to gradually start business operations in various sectors. Furthermore, it is expected to be challenging for the manufacturing sector to get back to normal, thereby affecting growth of the steel grating market during the forecast period. quote

Eswara Prasad
Manager, Chemical and Material at Allied Market Research

Get 20% Free Customization In This Report
Follow us on Social Media:       
 

According to a new report published by Allied Market Research, titled, “steel grating market: opportunity analysis and industry forecast, 2020–2027,” the global steel grating market was valued at $182.2 billion in 2019, and is projected to reach $261.2 billion by 2027, growing at a CAGR of 4.7% from 2020 to 2027.

Steel gratings consist of steel reinforced grids made from steel bars arranged by welding or pressure grid-shaped lock. The global steel grating market includes gratings made from stainless steel, carbon steel, and aluminum. Manufacturers of steel gratings use various ASTM (American society for testing and materials)-compliant grades of steel such as galvanized steel grating, carbon steel, and stainless steel. They are widely used in almost all industrial and commercial establishments such as oil & gas, electric generation, pharmacy, paper making, and chemical. Slip resistance of flooring and walkway is an essential consideration in any project. Proper walkways and platforms are crucial to safeguard worker safety. Thus, safety steel grating and stair treads help in reducing accident rates by providing a safer walking-working surface.

The global steel grating market is driven by its current demand from various industry verticals. Countries such as the U.S., Germany, China, and India have a well-established manufacturing sector that is constantly expanding. Such expansions increase the demand for industrial floorings, stairways, and platforms; thus, increasing the demand for steel gratings. 

The steel industry is an energy-intensive industry; hence, the cost of steel is high. The cost further rises during grating fabrication and transportation. In addition, availability of fiber-reinforced plastic (FRP) is expected to act as a restraint in the global steel grating market. FRP grating has proved to be an effective and economical alternative to steel gratings. FRP offers corrosion resistance over a wide range of pH, which makes it suitable in various chemical environments. High strength-to-weight ratio, good slip resistance, low initial cost & low maintenance, and flame-retardant performances are some of its merits that has made it useful in all applications currently covered by steel gratings. 

Innovations in the steel grating value chain is expected to offer fresh opportunities for the global steel grating market growth. Market players of steel grating globally focus on increasing their market share through client customization and product differentiation. Designing new grating patterns using CAD software as well as computerized production allows them to implement new patterns. Faster production rates achieved through automation are expected to reduce the cost of grating. Innovations in anti-slip coatings for gratings boost the demand for steel gratings. For instance, MEBAC anti-slip coating from IKG can be applied to any steel grating to increase coefficient of friction under a wide range of conditions. This leads to increased slip resistance of steel gratings. 

The global steel grating market is segmented on the basis of material type, surface type, fabrication, application, and end-use industry. 

On the basis of material type, the global steel grating market is segmented into stainless steel grating, carbon steel grating, and aluminum steel grating. Carbon steel grating is the leading segment that dominated the global market with more than two-third of the total share in 2019.

On the surface type, the market is divided into plain steel grating and serrated steel grating. Serrated steel grating is the leading segment that dominated the global market with more than three-fifths of the total share in 2019.

On the basis of fabrication, the market is segmented into welded steel grating, swage locked grating, press locked grating, riveted grating, and close mesh steel grating. Welded steel grating is the leading segment that dominated the global market with more than one-third of the total share in 2019.

On the basis of application, the market is segmented into stair treads, walkways, platforms, security fence, drainage covers, trench covers, and others. Walkways is the leading segment that dominated the global market with more than one-fifth of the total share in 2019.

End-use industries of steel grating include food processing, pharmaceuticals, cement, steel, chemical, papermaking, oil & gas, electric power, mining, marine, wastewater treatment, civil engineering, and others. Oil & gas is the leading segment that dominated the global market for nearly one-fifth of the total share in 2019. 

On the basis of region, the global steel grating market size is segmented into North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific accounted for the major global steel grating market share in 2019, and dominated the global market with nearly one-third of the total share in 2019.

Key players operating in the global steel grating market include Nucor Corporation, Valmont Industries, Sinosteel Corporation, Alabama Metal Industries, Corporation (AMICO), Anping Enzar Metal Products Co. Ltd., Ohio Gratings, P&R Metals, Lionweld Kennedy, Interstate Gratings, and Litchgitter GmbH.

COVID-19 Analysis:

  • Due to the COVID-19 outbreak, industrial manufacturing activities have been hampered across the globe. Steel grating is widely used in chemical, automotive, and construction industries. These industries have halted their operations due to disrupted supply of raw materials amid shutdown declared by government of various countries to prevent the transmission of coronavirus. This is expected to decrease the demand for steel grating till the industrial activities across these sectors resume.
  • Volatility in raw material prices of steel grating is one of the major challenges for manufacturers. Raw materials used in steel grating include steel. During the COVID-19 outbreak, crude steel prices decreased significantly, but now as governments of many countries are lifting their lockdown to start their economic activities, the price of crude steel is gaining momentum. Thus, rise or fall in crude steel prices has a direct impact on price movements of steel grating. Manufacturers have to cope with fluctuating raw material costs, which reduce their profit margins.

Key findings of the study

  • The carbon steel grating segment dominated the global steel grating market with around 71.4% of the share, in terms of revenue. 
  • The stainless-steel grating segment is estimated to display highest growth rate, in terms of revenue, registering a CAGR of 6.7% from 2020 to 2027.
  • The serrated steel grating segment dominated the global steel grating market with around 61.6% of the share in terms of revenue. This segment is also projected to grow at the highest CAGR of 4.9% in terms of revenue.
  • The walkways segment dominated the global steel grating market with around 22.6% of the share in terms of revenue. 
  • The drainage cover segment is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 6.2% from 2020 to 2027.
  • The oil & gas segment dominated the global steel grating market with around 11.7% of the share in terms of revenue.
  • The pharmaceuticals segment is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 5.5% from 2020 to 2027.
  • The welded steel grating segment dominated the global steel grating market with around 35.3% of the share in terms of revenue.
  • The close mesh steel segment is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 6.3% from 2020 to 2027.
  • Asia-Pacific dominated the global steel grating market with around 35.9% of the share in terms of revenue. This segment is also projected to grow at the highest CAGR of 6.0% in terms of revenue.

Need More Information

pr-det-talk Talk to David (Europe)

pr-det-talk Talk to Sona Padman (Americas)

5933 NE Win Sivers Drive #205,
Portland, OR 97220 United States

pr-det-phone Toll Free: +1-800-792-5285

pr-det-phone UK: +44-845-528-1300

pr-det-phone Hong Kong: +852-301-84916

pr-det-phone India (Pune): +91 2066346060

pr-det-phone Fax: +1(855) 550-5975

pr-det-phone help@alliedmarketresearch.com

 

For Media Inquiries, Please Contact

Allied Market Research
Contact Toll Free: +1-800-792-5285
Drop us an email at
media@alliedmarketresearch.com

Looking for Customization?

 Customization Request

Have a Question?

 Speak with Analyst

Any Confusion?

 Inquire Before Buying

Have a glance of the Report

  Request Free Sample
 
 

First time buyer?
Check offers and discount on this report
To get this report

Click Here
 
 

quote Steel Grating Market by Material Type (Stainless Steel Grating, Carbon Steel Grating, and Aluminum Steel Grating), Surface Type (Plain Steel Grating and Serrated Steel Grating), Fabrication (Welded Steel Grating, Swage Locked Grating, Press Locked Grating, Riveted Grating, and Close Mesh Steel Grating), Application (Stair Treads, Walkways, Platforms, Security Fence, Drainage Covers, Trench Covers, and Others), and End-Use Industry (Food Processing, Pharmaceuticals, Cement, Steel, Chemical, Papermaking, Oil & Gas, Electric Power, Mining, Marine, Wastewater Treatment, Civil Engineering, and Others): Global Opportunity Analysis and Industry Forecast, 2020-2027 quote

View Report
 
 

Avenue: Entire Library membership of Allied Market Research Reports at your disposal

  • Avenue is an innovative subscription-based online report database.
  • Avail an online access to the entire library of syndicated reports on more than 2,000 niche industries and company profiles on more than 12,000 firms across 11 domains.
  • A cost-effective model tailored for entrepreneurs, investors, and students & researchers at universities.
  • Request customizations, suggest new reports, and avail analyst support as per your requirements.
  • Get an access to the library of reports at any time from any device and anywhere.

 
 

WHY ALLIED MARKET RESEARCH?

INFLALLIBLE METHODOLOGY

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

ANALYST SUPPORT

For complete satisfaction

CUSTOMIZATION

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers

 

Featured Readings

 
rep-img

Published Date Nov 2024

Plush Toy Market

Download Sample

Buy Full Version
"Steel Grating Market"
Purchase Enquiry

Get fresh content delivered

Get insights on topics that are crucial for your business. Stay abreast of your interest areas.

Get Industry Data Alerts

Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of the scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save the time of readers