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)
Publication Month: Mar 2021 | Report Code: TIPRE00018586 | No. of Pages: 177 | Category: Chemicals and Materials | Status: Published
The steel grating market was valued at US$ 77,486.52 million in 2019 and is projected to reach US$ 1,38,699.88million by 2027; it is expected to grow at a CAGR of 7.6% from 2020 to 2027.
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. In 2019, Asia Pacific contributed the largest share to the global steel grating market. The market growth in this region is primarily attributed to upsurge in the middle-class population, coupled with growth in urbanization. The rising demand for steel grating in Asia Pacific has attracted the manufacturers to establish their operations in the region.
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.
Geographic Overview of Steel Grating Market
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Market Insights
Widening Application Range of Steel Gratings
Steel gratings are extensively used in the building platforms, stair treads, drainage covers, walkways, and trench covers in industrial environments. Owing to a substantial load-bearing capacity, they are used in flooring applications. These gratings are slip-resistant as well as easy to install and maintain. Steel gratings have extensive use in the building and construction industry. Platform steel gratings are the new building materials that are primarily being used in the construction of boilers and power plants, as well as in shipbuilding, chemicals, and petrochemicals industries, among others. Increase in population and continuous advancements in industries such as construction have positively impacted steel grating market. Steel grating is widely used in the manufacturing of automobile parts as well as in stair treads and handrails in numerous industries; moreover, the grating exhibits low maintenance needs. Thus, the wide application of steel grating in industries such as building and construction, automobiles, and oil & gas is the key factor fueling the steel grating market growth.
Material Type Insights
Based on material type, the steel grating market is segmented into stainless steel grating, carbon steel grating, and aluminum steel grating. The stainless steel grating segment led the market with the largest share in 2019. Stainless steel has good stiffness, strength, durability, and wear and corrosion resistance properties. It is used as one of the key constituents in industrial machinery and electronics, wherein high wear and corrosion resistance is a key consideration. Stainless steel grating is called as industrial-grade bar grating. Furthermore, different stainless steel grades are normally available for stainless steel grating, with more common grades being less expensive. Increasing use of stainless steel grating in chemical processing, water treatment, food processing, oil and gas producing, and outdoor industries supports the stainless steel grating market growth.
Surface Type Insights
Based on surface type, the steel grating market is segmented into plain steel grating and serrated steel grating. The plain steel grating segment led the market in 2019. Plain steel grating is made from aluminum steel bars, carbon steel bars, and stainless steel bars. Plain steel grating can be divided into different types such as welded plain steel grating, swage-locked plain steel grating, press-locked plain steel grating, and riveted plain steel grating. It is also called smooth surface grating, which is the most extensively used type of grating in almost all applications.
Application Insights
Based on application, global steel grating market is segmented into stair treads, walkways, platforms, security fence, drainage covers, trench covers, and others. The stair treads segment led the global steel grating market in 2019. Stair treads usually constitute low-carbon steel, aluminum steel, and stainless steel gratings. They are built to have excellent chemical stability and hence can be used in corrosive and harsh environments. Stair treads are available for both industrial and commercial applications, and can be installed in factories or parks for permanent or temporary use. Different types of steel grating-based stair treads include press-locked stair treads, welded stair treads, swage-locked stair treads, and riveted stair treads. The features such as easy installation, good ventilation, slip and corrosion resistance, low maintenance cost, and high strength and load carrying capacity are leading to the growth of the market for stair tread segment.
Steel Grating Market, by Material Type – 2019 and 2027
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Strategic Insights
Alabama Metal Industries Corporation; Grating Pacific; Interstate Gratings; Kraty 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 major players operating in the steel grating market. These companies offer their products in multiple countries in the world, which helps them to serve a wider customer base. They are highly focused on the development of high-quality and innovative products. The steel grating market players are highly involved in strategies such as mergers and acquisitions, and product launches. For Instance, in 2020, Lichtgitter announced its plans to expand its production area of its facility in Houston (Texas, US) by building additional offices, with an ultimate goal to increase the production capacity.
Report Spotlights
- Progressive industry trends in the global steel grating market to help players develop effective long-term strategies
- Business growth strategies adopted by developed and developing markets
- Quantitative analysis of the steel grating market from 2017 to 2027
- Estimation of the demand for steel grating across various industries
- PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry
- Recent developments to understand the competitive market scenario and demand for steel gratings
- Market trends and outlook along with factors driving and restraining the growth of the steel grating market
- Understanding on strategies that underpin commercial interest in steel grating market growth, enabling the decision-making process
- Steel grating market size at various nodes of market
- Detailed overview and segmentation of the steel grating market as well as its industry dynamics
- Size of market in various regions with promising growth opportunities
Steel Grating Market, by Material Type
- Stainless Steel Grating
- Carbon Steel Grating
- Aluminum Steel Grating
Steel Grating Market, by Surface Type
- Plain Steel Grating
- Serrated Steel Grating
Steel Grating Market, by Application
- Stair Treads
- Walkways
- Platforms
- Security Fence
- Drainage Covers
- Trench Covers
- Others
Company Profiles
- Alabama Metal Industries Corporation
- Grating Pacific
- Interstate Gratings
- Kraty 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
- Marco Specialty Steel, Inc.
Frequently Asked Questions
The List of Companies - Global Steel Grating Market
- Alabama Metal Industries Corporation
- Grating Pacific
- Interstate Gratings
- Kraty 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
- Marco Specialty Steel, Inc.
- Highlights key business priorities to assist companies realign their business strategies.
- Features key findings and crucial progressive industry trends in the global Steel Grating market, thereby allowing players to develop effective long-term strategies.
- Develops/modifies business expansion plans by using substantial growth offering from developed and emerging markets.
- Scrutinizes in-depth market trends as well as key market drivers and restraints.
- Enhances the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.
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