MarketResearch.biz announces publication of its most recently generated research report titled, “US Steel Grating Market by Product Type (Stainless Steel Grating & Carbon Steel Grating), Application (Architecture, Sewage Disposal, Petrochemical & Other Applications), The US Forecast to 2030.”, which offers a holistic view of the US steel grating market through systematic segmentation that covers every aspect of the target market. The first five-year cumulative revenue (2020–2024) is projected to be over US$ 3.3 Bn, which is estimated to increase moderately over the latter part of the five-year forecast period.
The steel grating is manufactured through the forged welding process. Current construction projects require the highest quality standards of materials, and steel grating is one of the urgent products for various applications. The metal grid is an assembled grid or a metal grid with parallel rods or parallel support rods with crimping rods to keep the support rods elevated. The grating provides a surface but allows air, light, heat, sound and water to pass through it. It is strong, durable and almost maintenance-free. The metal grille can be customized or provided in the inventory panel. According to the application and load requirements, metal grilles of various sizes, spacing’s and thicknesses can be provided.
US Steel Grating Market: Market Dynamics
Steel grating plays a vital role in construction, petrochemical and other industries. The characteristics of steel gratings such as non-slip, anti-corrosion, low maintenance, high strength and rigidity, and high durability have mainly promoted the demand for steel gratings in the market. Due to a wide range of building applications as well as towers/antennas, power plants and utilities, paper mills, mining, energy (oil and gas, LNG, nuclear power, refineries), stair railings, sidewalks, platforms, fire escapes, and roof access, drinking fountains, design elements, building facades, sun shades, heavy-duty applications, fences, landing mats and ventilation nets have driven the significant boost in the US steel grating market. Technological development, progress and growth of the industrial sector in emerging economies in the Asia-Pacific region have led to an increase in the import and export trade of steel grating and related products in the United States, which is expected to drive future revenue growth in the target market.
Raw material price fluctuations, high costs related to stainless steel, safety issues and product durability issues are the key factors that will seriously hinder the steel grating market.
Increase the government budget for repairing and constructing sewage/drainage treatment plants with steel gratings as the main role, which has a positive impact on the growth of the steel grating market. The ongoing industrialization and urbanization, leading to the upgrading of infrastructure and manufacturing facilities, will support product penetration.
US Steel Grating Market: Market Forecast
The comprehensive research report comprises a complete forecast of the US steel grating market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the US steel grating market is estimated to expand at a moderate CAGR of 5.6% during the forecast period.
US Steel Grating Market: Segmental Snapshot
The market report has been segmented on the basis of product type & application. The product type segment includes stainless steel grating & carbon steel grating. The application segment includes architecture, sewage disposal, petrochemical & other applications.
By product type: The stainless steel grating segment is expected to register a CAGR of over 5.8%, thereby accounting for highest revenue share among the product type segments.
By application: The architecture segment is expected to register a CAGR of over 6.7% over the forecast period, thereby accounting for highest revenue share among the application segments.
US Steel Grating Market: Competitive Analysis
The research report on the US steel grating market includes profiles of major companies such as Nucor Corporation, Lichtgitter GmbH, McNICHOLS CO., INC, Gebrüder Meiser GmbH, Ohio Gratings, Macuch Steel Products, Inc, IKG, Interstate Gratings, LLC, Grating Pacific, Marco Specialty Steel, P&R Metals, Barnett-Bates Corporation, Argus Steel Products, Borden Metal Product Inc, Yantai Wanjie New Materials Co., Ltd.
The US Steel Grating Market: Industry, Size, Share, Growth, Trends, and Forecast, 2020–2030 report has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the US steel grating market for 2020–2030.
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