Report : Steel Grating Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Material Type (Stainless Steel Grating, Carbon Steel Grating, and Aluminum Steel Grating), Surface Type (Plain Steel Grating and Serrated Steel Grating), and Application (Stair Treads, Walkways, Platforms, Security Fence, Drainage Covers, Trench Covers, and Others)
Growing Demand from Oil & Gas Industry Boosts Steel Grating Market Growth
According to our latest market study on “Steel Grating Market Forecast to 2027 – COVID-19 Impact and Global Analysis – Material Type (Stainless Steel Grating, Carbon Steel Grating, and Aluminum Steel Grating), Surface Type (Plain Steel Grating and Serrated Steel Grating), and Application (Stair Treads, Walkways, Platforms, Security Fence, Drainage Covers, Trench Covers, and Others ),” the market was valued at US$ 77,486.52 million in 2019 and is projected to reach US$ 138,699.88 million by 2027; it is expected to grow at a CAGR of 7.6% from 2020to 2027. The report highlights key factors driving the market growth and prominent players along with their developments in the market.
Steel grating is an open grid assembly of metal bars, which is extensively used in multiple applications owing to its low maintenance requirements and corrosion resistance. Steel gratings have a substantial load-bearing capacity and hence are used in flooring applications. The wide range of steel grating applications include manhole covers, stair treads, handrails, platforms, drainage covers, trench covers, and walkways. Rapid industrialization in emerging countries such as India, China, Brazil, and Japan as well as growing spending on infrastructure development by governments provide lucrative growth opportunities to the steel grating market players.
Steel grating drilling platforms are lightweight and explosion-proof, and feature anti-rust, huge bearing capacity, and non-slip properties. They are highly suitable for ocean as they lessen the chance of accidents. Thus, to explore and exploit offshore oil and natural gas resources, the steel gratings are extensively used in drilling platform. Besides, in the oil & gas sector, steel grating are used in a wide range of applications, including docks, ramps, platforms, crossover platforms, trench covers, security fences, catwalks, flooring, and machine guards. These gratings are also extensively used as platforms, floors, and walkways in the mining sites, power plants, and commercial buildings, as well as on roads and railway tracks.
Alabama Metal Industries Corporation; Grating Pacific; Interstate Gratings; Kratky Mostostal Kraków SP. Z O.O.; Lichtgitter GmbH; Lionweld Kennedy Flooring Ltd; Polimex-Mostostal SA; Gebrüder MEISER GmbH; Nucor Corporation; Ohio Gratings Inc.; P&R Metals, Inc.; Roto B.V.; Valmont Industries, Inc.; Indiana Gratings Inc; and Marco Specialty Steel, Inc. are among the well-established players in the global Steel grating market.
Impact of COVID-19 Pandemic on Steel Grating Market
The US, India, Brazil, Russia, France, the UK, Italy, Spain, Germany, Colombia, Argentina, and Mexico are among the most affected countries in terms of COVID-19 cases and reported deaths as of March 2021. COVID-19 has affected various industries in the world due to lockdowns, travel bans, and business shutdowns. The manufacturing industry is suffering serious disruptions in the form of supply chain breaks, technology events cancellations, and office shutdowns due of this outbreak. The lockdown of various plants and factories in regions such as North America, Europe, Asia Pacific, South America, and the Middle East and Africa is affecting the global supply chains and negatively impacting the manufacturing, delivery schedules, and sales of various goods. In addition, global travel bans imposed by countries in Europe, Asia, and North America are affecting business collaborations and partnership opportunities. These factors are negatively impacting the manufacturing of medical, defense, and electronic goods. The disruptions in manufacturing activities are limiting the growth of the steel grating market.
The report includes the segmentation of the steel grating market as follows: