Steel Grating Market Plying for Significant Growth During 2024
Steel
grating is a regular shaped assortment of similar, elongated, and
parallel elements. It usually comprises one set of extended elements.
However, it can also contain two sets, wherein the subsequent set is
commonly set vertically to the first. Vertical placement of these two
sets is also called grid or a mesh. Steel gratings are primarily
employed in power generation plants, buildings, and factories, as
they offer ease of movement and safety; are robust, strong, reliable,
and durable; and possess high tensile strength when compared to fiber
grating and aluminum. The usage of steel grating depends on the load
that it needs to bear. It is extensively implemented in numerous
applications, owing to its many benefits such as corrosion resistance
and low maintenance requirement. Steel grating is used for stair
treads, manhole covers, and handrails in various industries.
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The
global steel grating market is expected to expand at a substantial
pace in the near future primarily due to the technological
advancements and increase in applications in end-use industries.
Furthermore, expansion of the construction sector, especially in Asia
Pacific, is anticipated to drive the steel grating market during the
forecast period. High investments are being made in various countries
such as China, India, Brazil, Mexico, and Indonesia for
infrastructure development and industrial growth. This is anticipated
to propel the demand for steel grating in the near future. Emission
of carbon during the production of steel grating is a key factor
expected to hamper the steel grating market. However, this factor is
likely to be offset by the increase in demand for steel grids or mess
in industrial and construction sectors.
The
steel grating market can be segmented based on type, application, and
region. In terms of type, the market can be divided into stainless
steel grating, carbon steel grating, and mild steel grating. Based on
application, the market can be classified into construction, sewage
disposal, petrochemical, and others. In terms of region, the steel
grating market can be segregated into North America, Europe, Asia
Pacific, Middle East & Africa, and Latin America. In terms of
consumption, North America dominated the global steel grating market
in 2016.
It
was followed by Europe. This can be primarily ascribed to the large
number of end-user industries in North America and Europe. However,
the market in North America and Europe is projected to expand at a
sluggish pace during the forecast period, as these regions are
relatively mature markets. The market for steel grating in Asia
Pacific is anticipated to expand at a significant pace in the near
future owing to the presence of growing economics such as China and
India, and high demand from key markets such as South Korea and
Japan. Furthermore, technical advancements from OEMs coupled with
rise in industrialization in the region offer lucrative opportunities
for the steel grating market in Asia Pacific. The market in Latin
America and Middle East & Africa is estimated to exhibit strong
growth during the forecast period.
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Key
players operating in the market include AMICO Group of Companies,
Meiser GmbH, Nucor, P&R Metals Inc., Valmont Industries, Inc.,
Yantai Xinke Steel Structure Co., Ltd., Harsco Industrial IKG, NJMM
Inc., Xinxing Ductile Iron Pipes, Ohio Gratings, Marco Specialty, and
Lionweld Kennedy.
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