The worldwide Light Steel Framing (LSF) industry has been experiencing explosive growth over the past years due to growing construction activities. Light Steel Framing (LSF) is a construction technology that extensively uses cold-formed steel as a crucial construction material. The equipment is used for wall systems, roof systems, roof panels, floor systems, and decks. It is made to guard against vulnerability to moisture, fire, termites, and temperature variations. It also has enormous mechanical strength. Thus, the product can be used in extreme circumstances such as hurricanes and tornadoes.
The outbreak of the COVID-19 pandemic affected construction activities. Lack of construction projects reduced market expansion. Lower demand for steel from industries hampered market growth. Lockdown restrictions and social distance protocols minimized market growth. Further, the unavailability of laborers or workers restricted market progress. The market witnessed supply chain disruptions as well.
On the contrary, lockdown relaxation is expected to boost market growth due to growing construction activities. Rapid industrialization and urbanization are anticipated to propel market development. Such factors are projected to drive market growth post COVID-19 pandemic. As per Business Research Insights, the global Light Steel Framing (LSF) market size is anticipated to hit USD 34,430 million by 2026 at a CAGR of 8.2% during the forecast period. The growing demand for green construction and economic sustainability is likely to aid the industry expansion.
Business Research Insights Identifies the Following as the Top 10 Leading Light Steel Framing (LSF) Companies:
- JINGGONG STEEL
JINGGONG STEEL is one of the leading companies in the Light Steel Framing (LSF) industry that was founded in 1968. It focuses on fabrication, structure engineering design, integration of international engineering, construction, and export of steel products. The company is situated in Hong Kong. It has ranked among the top 500 enterprises in China for many years.
- CSCEC LTD.
China State Construction Carries (CSCEC) Ltd. is a global construction group. The company is doing business in more than 100 countries across the world. It focuses on investment and development (construction financing, real estate, and operation). The company also has strong customer service. In 2018, it was rated A by S&P, Moody's, and Fitch.
- HONGLU STEEL STRUCTURE
HONGLU STEEL STRUCTURE is a construction company based out of HEFEI, AH | Anhui, China. Its main products are heavy steel construction, vertical equipment structures, light steel construction structural products, and steel structure enclosure products. It is a China-based company with ongoing investment and rapid return on investment.
- Nakayama Mitsuboshi Steel
The company is a leading manufacturer and distributor of steel products. It focuses on producing carbon steel pipes, lightweight structural steel, and other steel products. Further, the company provides drilling, steel disconnecting, painting, welding, and other services.
- Steel Frame Solutions
Steel Frame Solutions is Australia's largest manufacturer of roof trusses and pre-fabricated steel wall frames for residential building industries and commercial. It manufactures roof trusses and supplies steel wall frames, roof battens, floor systems, and ceiling battens.
- HangXiao Steel Structure Co., Ltd.
Founded in 1985, it is one of the wholly-owned subsidiaries of HangXiao Steel Structure Co., Ltd. (HXSS). It was the first listed company engaged in the steel structure industry in China. The company's services include fabrication, designing, shipping, installation, and other services.
- ZHEJIANG SOUTHEAST SPACE FRAME CO., LTD
ZHEJIANG SOUTHEAST SPACE FRAME CO., LTD is a leading Chinese company. The company is mainly engaged in the manufacture, design, and installation of construction steel structures. It is also engaged in the chemical fiber business. Its products include Polyester Pre-Oriented Yarns (POYs), polyester slices, and Fully Drawn Yarns (FDYs).
- Hadley Group
Hadley Group is a market-leading company. The privately-owned company has innovations in cold roll forming technology. It has strong engineering excellence. Hadley has a strong customer base and committed clients. Its employee strength is close to 700 across the world. It also won an award for Enterprise Innovation.
- MBA Building Supplies
MBA Building Supplies has a unique focus on providing customers best services. It focuses on providing products of the highest quality. The company expanded three additional production facilities to provide better service to customers.
- Steel Construction Systems
The sole purpose of the company is to provide light gauge steel framing products to commercial and residential sectors. The company was started in 1995. It is known for its high-quality and cost-effective products.
Growth in Construction Activities to Accelerate Light Steel Framing (LSF) Adoption
There is a growing number of construction activities of new residential and commercial buildings to foster market progress. High awareness about green construction is anticipated to accelerate market expansion. The equipment is cost-effective and eco-friendly, which poses new market opportunities. In addition, rapid industrialization and growing urbanization are expected to fuel market growth in the forthcoming years.