Wilmington, Delaware, Aug. 22, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Steel Grating Walkways Market by Material Type (Carbon Steel Grating, Stainless Steel Grating and Mild Steel Grating), Fabrication (Welded Steel Grating, Swage Locked Grating, Press Locked Grating, Riveted Grating and Close Mesh Steel Grating), and Surface Type (Serrated Steel Grating and Plain Steel Grating): Global Opportunity Analysis and Industry Forecast, 2024-2032". According to the report, the steel grating walkways market was valued at $184.4 billion in 2023, and is estimated to reach $241.6 billion by 2032, growing at a CAGR of 3% from 2024 to 2032.
Prime determinants of growth
The global steel grating walkways market is experiencing growth due to several factors such as safety, durability, cost-effectiveness, versatility, accessibility compliance, drainage efficiency, and aesthetics. Steel grating walkways provide a safe & stable platform for pedestrians and vehicles to traverse. The walkways reduce the risk of slips, trips, and falls, especially in hazardous environments such as industrial facilities or outdoor areas with uneven terrain.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2024–2032 |
| Base Year | 2023 |
| Market Size in 2023 | $184.4 billion |
| Market Size in 2032 | $241.6 billion |
| CAGR | 3.0% |
| No. of Pages in Report | 186 |
| Segments covered | Material Type, Fabrication, Surface, and Region. |
| Drivers | Rapid industrialization and infrastructure development Growth in steel industry |
| Opportunities | Technological advancements in steel manufacturing |
| Restraints | Volatile price of raw materials |
COVID-19 Scenario
- Outbreak of the COVID-19 pandemic had a negative impact on the steel grating walkways market owing to the temporary closure of manufacturing firms during the lockdown.
- The production andsale of steel grating walkways was hampered due to the closure of manufacturing factories across the globe, especially during the initial period of the pandemic.
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The carbon steel grating segment dominated the global steel grating market share, in terms of revenue.
On the basis of material type, the market is divided into carbon steel grating, stainless steel grating, and mild steel grating. The carbon steel grating segment garnered a high market share in 2022, accounting for more than half of the market revenue. Rapid industrialization and infrastructure development in emerging markets created new opportunities for steel grating manufacturers. The demand for steel grating walkways was particularly high in regions with significant industrial activity, such as North America, Europe, and Asia-Pacific. These regions have extensive infrastructure and industrial facilities that require robust & reliable walkway solutions.
The welded steel grating segment dominated the market in 2023.
Depending on fabrication, the market is segregated into welded steel grating, swage locked grating, press locked grating, riveted grating, and close mesh steel grating. Welded steel grating is the leading segment that dominated the global market with more than one-third of the total share in 2023. Steel gratings are extensively used in industrial walkways, maintenance platforms, and pedestrian pathways due to their ability to support heavy loads and their resistance to harsh environmental conditions. This makes them ideal for use in industries such as oil and gas, power generation, and manufacturing.
Asia-Pacific dominated the market share in terms of revenue in 2023
The steel grating walkways market is analyzed across North America, Europe, Asia-Pacific, Latin America, and MEA. In 2022, Asia-Pacific accounted for more than one third of market share and is expected to grow at a significant CAGR during the forecast period. China holds the maximum share in the steel grating walkways market in Asia-Pacific.
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Leading Market Players: -
- Alabama Metal Industries Corporation (Gibraltar Industries Inc.)
- IKG
- Interstate Gratings LLC
- Lionweld Kennedy Flooring Limited (Hill & Smith Holdings)
- Lichtgitter GmbH
- Marco Specialty Steel Inc.
- Meiser GmbH
- Nucor Corporation
- Ohio Gratings Inc.
- P&R Metals Inc.
The report provides a detailed analysis of these key players of the steel grating walkways market. The players have adopted different strategies such as new product launches, expansion, and acquisitions to increase their market share in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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