- Summary
- Table Of Content
- Methodology
Steel Grating Market Introduction :
Consegic Business Intelligence analyzes that the Steel Grating Market is growing with a healthy CAGR of 3.7% during the forecast period (2023-2030), and the market is projected to be valued at USD 242.16 Billion by 2030 from USD 182.14 Billion in 2022.
Steel Grating Market Definition & Overview:
Steel grating is a type of grating or grid made from steel bars that are assembled to form a rigid and strong structure. Steel grating consists of parallel flat bars or round bars that are spaced apart at regular intervals and joined together by crossbars. The design of the steel grating creates an open grid pattern depending on the intent of application for various purposes and in various end-user industries. There are various advantages of using steel gratings such as high strength, durability, sustainability, corrosion resistance, and recyclability.
These properties of steel grating ensure superior protection from resistance against abrasion, bacteria resistance, corrosion resistance, and any organic materials along with high strength in end user industry. As a result of the above-mentioned properties, steel grating is an ideal solution for various applications, including stair threads, security fences, drainage covers, walkaways, platforms, trench covers, and others. Moreover, steel grating is getting extremely popular across various industries such as construction, infrastructure, transportation, manufacturing, and various other industries.
Steel Grating Market Insights :
Steel Grating Market Dynamics - (DRO) :
Key Drivers :
Increasing demand from various end user industries is benefiting the market growth
Steel grating is highly popular among various end user industries such as construction, infrastructure, chemicals, food processing, oil and gas, offshore infrastructures, electric power stations, pharmaceutical industries, water treatment industries, and others. High durability, strength, and sustainability are the properties that make steel grating a popular product in these industries.
Steel grating also possesses properties such as anti-corrosion, ease to clean, and resistance to bacteria formation, heat, and moisture. Owing to these properties, steel grating helps in maintaining hygienic conditions in the pharmaceutical and food processing industries. In the pharmaceutical and food processing industry steel gratings are used for the applications such as security fences, drainage covers, walkaways, platforms, and others. The increasing focus on the development of various food processing industries across the globe is expected to drive the global steel grating market across the globe over the forecast period. For instance, in December 2020, Plant & Bain, a U.K.-based food manufacturing company, announced the opening of its plant-based meat manufacturing facility in Europe. The new plant has an area of 263,000 square meters and works on the production of affordable plant-based products. Therefore, the growth in these various industries across the globe is accelerating the demand for steel gratings for various applications. Hence, the increasing demand for steel grating from various end-user industries is benefiting the market growth.
Significant growth in the construction industry is boosting the growth of the market
Steel grating plays a very important role in the construction industry, offering numerous benefits that make it a popular choice for various applications in the construction industry. Steel grating is a highly versatile, durable, and strong product which makes it suitable for construction projects. In the construction sector, serrated carbon steel a type of steel grating is used to provide slip resistance surface for walking. Due to this, steel grating is used for making mezzanine floors, catwalks, bridge covers, walkways, and other construction applications. The high benefits of steel gratings in the construction industry are improving the demand for the product from the industry. Thus, the increasing construction projects across various parts of the globe are expected to drive the growth of the global steel grating market over the forecast period. For instance, on February 16th, 2023, the crown prince of Saudi Arabia Prince Mohammad Bin Salman announced the launch of the new murabba project in Riyadh. As per the project, a downtown city will be constructed with an area of 19 square kilometers with an investment of US$ 800 billion. Such launch of new ambitious construction projects across the globe are expected to drive the demand for steel grating in construction applications. Hence, the bolstering construction industry is accelerating the demand for steel grating for various construction applications. This, in turn, is driving the growth of the market.
Key Restraints :
High Availability of Substitutes for Steel Grating are restraining the market growth
Steel Grating has various beneficial properties such as high durability, excellent mechanical strength, and corrosion resistance, among others. There are several substitutes available in the market that can be used instead of steel gratings such as aluminum grating, fiberglass reinforced grating, wood, and concrete grating, expanded metal mesh, perforated metal sheets, and others. Fiberglass reinforced grating is lightweight, corrosion resistant, and non-conductive which makes them suitable for applications where electrical conductivity is a concern. Fiberglass-reinforced grating can be used on slippery surfaces which ensures safety at the workplace. Moreover, fiberglass reinforced grating is also used in chemical processing plants, offshore platforms, and industries with corrosive environments. All these properties of fiberglass reinforced grating make it a suitable and cost-effective alternative to steel grating which is expected to restrain the growth of the steel grating market over the forecast period.
Future Opportunities :
Significant growth in industrialization in developing economies will favour the market growth
Steel grating is used across various end user industries. Growing industrialization across developing economies is indeed creating lucrative growth opportunities for the global steel grating market. As industrialization advanced, the manufacturing sector experienced significant growth across various industries namely automotive, energy, and heavy machinery. These industries often require steel grating for platforms, walkways, mezzanines, and other applications to facilitate the production process and ensure workers safety. For instance, according to the report by the Indian Brand Equity Foundation in April 2023, the total manufacturing exports in India accounted for US$ 418 billion in the financial year 2022, which was a 40% increase from the previous year 2021. Hence, the expansion of the manufacturing industry across the developing economies at the global level is spurring the demand for steel grating for various applications. This prominent factor is supplementing the steel grating market.
Steel Grating Market Report Insights :
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 | USD 242.16 Billion |
| CAGR (2023-2030) | 3.7% |
| By Material Type | Stainless Steel Grating, Carbon Steel Grating, Aluminum Steel Grating, and Others |
| By Product Type | Plain Steel Grating, and Serrated Steel Grating |
| By Fabrication | Welded Steel Grating, Press Locked Grating, Riveted Grating, Close Mesh Steel Grating, Swage Locked Grating, and Others |
| By Application | Stair Treads, Security Fence, Drainage Covers, Walkaways, Platforms, Trench Covers, and Others |
| By End-use Industry | Chemical Industry, Food Industry, Oil & Gas, Water Treatment Plants, Petrochemicals, Pharmaceutical Industry, Marine and Others |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
| Key Players | Alabama Metal Industries, Amicro Group of Companies Lionweld Kennedy, Marco Specialty, Meiser GmbH, NJMM Inc., Nucor Corporation, Ohio Gratings, P&R Metals, Inc., Sinosteel Corporation, and Valmont Industries, Inc. |
Steel Grating Market Segmental Analysis :
Based on the Material Type :
The material type segment is categorized into stainless steel grating, carbon steel grating, aluminum steel grating, and others. In 2022, the carbon steel grating segment accounted for the highest market share in the steel grating market. Carbon steel grating is a very versatile material and offers various benefits. Carbon steel gratings are heavily utilized in various municipal as well as commercial applications. Carbon steel grating is used for the manufacturing of platforms, walkways, and stairways as it provides resistance against slipping in icy and wet conditions. Carbon steel gratings are also used for the manufacturing of drainage covers and treads for both municipal as well as industrial applications. Thus, due to the above beneficial properties of carbon steel grating, the demand for carbon steel grating is increasing, which, in turn, is benefiting the segment growth.
However, the stainless-steel grating segment is expected to be the fastest-growing segment during the forecast period. This is due to its applications in sewer projects, chemical washdown areas in abattoirs, food processing facilities, pharmaceutical and laboratory settings, swimming pools and recreational facilities, and marine and coastal environments.
Based on the Product Type :
The product type segment is categorized into plain steel grating and serrated steel grating. In 2022, the serrated steel grating segment accounted for the highest market share in the steel grating market. Serrated steel grating is employed in various places where a slip resistant or anti-slip surface is required. Serrated steel gratings are used as stair thread grating, walkways, platforms, and floors in commercial, industrial as well as civil buildings. The significant growth in urbanization across the world is expected to drive the segment growth over the estimated period. For instance, according to the data published by the World Bank, the urban population across the globe is expected to double by the year 2050. Hence the growth in the urban population will improve the demand for new residential, commercial as well as industrial sectors and is expected to further drive the segment growth over the forecast period.
Based on the Fabrication :
The fabrication segment is categorized into welded steel grating, press locked grating, riveted grating, close mesh steel grating, swage locked grating, and others. In 2022, the welded steel grafting segment accounted for the highest market share of 29.05% in the overall steel grating market. Welded steel grating is majorly used in industrial applications for the manufacturing of walkaways, stair threads, platforms, and security fences. Welded steel grating can withstand high shear forces. It can also tolerate heavy and dynamic loads, which makes it best suited for industrial flooring applications. The increasing investment in the industrial sector across the globe is expected to drive segment growth over the forecast period. For instance, according to the data published by the Bureau of Economic Analysis in September 2022, in the U.S. the foreign direct investment in the industrial sector across the country increased by US$ 403.3 billion in 2020 to US$ 6.49 trillion in 2021.
However, the swage locked grating segment is expected to be the fastest-growing segment during the forecast period because of the high demand for ceiling manufacturing, increasing government investments in industrial sectors, and others.
Based on the Application :
The application segment is categorized into stair treads, security fence, drainage covers, walkaways, platforms, trench covers, and others. In 2022, the walkaways segment accounted for the highest market share in the steel grating market. Steel grating is employed in various buildings and construction, industries, and public spaces as a walkway. Steel grating provides a durable, strong, and safe surface for pedestrian walkways in a wide range of environments. Steel grating walkways are used in various end user industries such as chemical, automotive, cement, oil and gas, and other industries for the manufacturing of anti-skid surfaces and a strong ground for heavy engineering works. The significant growth in these industries is expected to improve the demand for steel grating for walkaway applications across the globe over the forecast period. For instance, according to the report by European Automobile Manufacturers' Association in February 2023, the new car registration across the globe accounted for 66.2 million units in 2022, and in China, the sales of cars increased by 7.6% by the previous year.
However, the platforms segment is expected to be the fastest-growing segment during the forecast period owing to the significant demand from the chemical, cement, and fertilizer industries across the globe.
Based on the End-Use-Industry :
The application segment is categorized into stair treads, security fence, drainage covers, walkaways, platforms, trench covers, and others. In 2022, the walkaways segment accounted for the highest market share in the steel grating market. Steel grating is employed in various buildings and construction, industries, and public spaces as a walkway. Steel grating provides a durable, strong, and safe surface for pedestrian walkways in a wide range of environments. Steel grating walkways are used in various end user industries such as chemical, automotive, cement, oil and gas, and other industries for the manufacturing of anti-skid surfaces and a strong ground for heavy engineering works. The significant growth in these industries is expected to improve the demand for steel grating for walkaway applications across the globe over the forecast period. For instance, according to the report by European Automobile Manufacturers' Association in February 2023, the new car registration across the globe accounted for 66.2 million units in 2022, and in China, the sales of cars increased by 7.6% by the previous year.
However, the platforms segment is expected to be the fastest-growing segment during the forecast period owing to the significant demand from the chemical, cement, and fertilizer industries across the globe.
Based on the Region :
The regional segment includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
In 2022, Asia Pacific accounted for the highest market share at 35.55% and was admired at USD 64.75 Billion and it is expected to reach USD 86.57 Billion in 2030. In Asia Pacific, India accounted for the second highest market share of 20.57% during the base year of 2022. This is due to the growth of the various end-use industries, including chemical, petrochemical, pharmaceutical, oil & gas, water treatment, and other industries across the region. For instance, according to the data published by the Ministry of Commerce & Industry in May 2022, the Indian pharmaceutical industry accounted for US$ 50 billion in the financial year 2021-22 which is expected to reach US$ 65 billion in 2030. This significant growth in the industries across the region is expected to provide lucrative growth opportunities for the growth of the steel grating market across the region over the forecast period.
Furthermore, North America is expected to witness significant growth over the forecast period, growing at a CAGR of 4.1% during 2023-20230. This is due to the increasing investments in the manufacturing sector in the region.
Top Key Players & Market Share Insights:
The sting market is highly competitive, with several large players and numerous small and medium-sized enterprises. These companies have strong research and development capabilities and a strong presence in the market through their extensive product portfolios and distribution networks. The market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships. The key players in the market include-
- Merck KGaA
- Albemarle Corporation
- TCI Chemicals Pvt. Ltd.
- Toronto Research Chemicals
- Santa Cruz Biotechnology, Inc
- American Elements
- Leverton Lithium
- Samrat Pharmachem
- Shanghai Oujin Lithium
- Alfa Aesar (a subsidiary of Thermo Fisher Scientific)
Recent Industry Developments :
- In February 2023, Albemarle Corporation merged with Mineral Resources Limited which is a mining service company, to reorganize the parties' MARBL lithium joint venture located in Australia.
- In October 2022, Albemarle Lithium UK Limited, a subsidiary of the Albemarle Corporation acquired Guangxi Tianyuan New Energy Materials Co., Ltd for about USD 200 million.
Key Questions Answered in the Report
What was the market size of the steel grating industry in 2022? +
In 2022, the market size of Steel Grating was USD 182.14 Billion
What will be the potential market valuation for the steel grating industry by 2030? +
In 2030, the market size of Steel Grating will be expected to reach USD 242.16 Billion.
What are the key factors driving the growth of the steel grating market? +
Increasing demand from various end user industries is benefiting the market growth.
What is the dominant segment in the steel grating market by fabrication? +
In 2022, the welded steel grating segment accounted for the highest market share of 29.05% in the overall Steel Grating market.
Based on current market trends and future predictions, which geographical region is the dominating region in the steel grating market? +
Asia Pacific accounted for the highest market share in the overall steel grating market.
