Steel Framing Market - Forecast (2021 - 2026)
Steel framing market has been majorly driven by lower construction costs as compared to concrete structures factors. Steel framing’s strength to-weight ratio significantly exceeds that of wood or concrete. Being strong and relatively lightweight, Cold-Formed Steel (CFS) systems reduce a building’s total load which, in turn, allows the owner to save costs beginning at the foundation. Various reasons are responsible for steel framing going to the front line as one of the most possible option and truly outstanding building materials for residential and commercial construction. Steel is a predominant construction material with many advantages. The total revenue of steel framing market in 2017 was estimated to be $111.59 mn and it is expected that it will rise at a CAGR of 3.4% till 2023. Residential, non-residential and new infrastructure projects, such as bridges and airports, railway stations along with the growth of commercial/industrial businesses are driving the need for steel constr...