Space Frame Market Analysis

Space Frame Market Analysis

style="text-align:justify">The steel space frame market size is likely to register a decent growth rate of more than 10.5% through 2026. Steel material held around 50% market revenue share in 2019. It provides various structural advantages over other materials in terms of durably, rigidity, and robustness; hence, is an ideal choice of material in various commercial buildings. However, the volatility in steel prices is a major concern among major steel space frame manufacturers.

The double layer grid type is expected to exhibit the highest revenue gains during 2020-2026. In the double layer grid, elements are organized in multiple layers parallelly at a fixed distance.  Double layer grids are widely used in the industrial & commercial sectors, mainly in warehouses, hangers, travel terminals, and others. The renovation of commercial buildings along with increasing product penetration in airports will drive the double layer grid space frames demand.
 

The circular hollow section will dominate the tube type segment in 2026 with a market share of around 70%. Circular hollow sections, also known as steel tubes, are widely used in various industrial spheres owing to their excellent design and performance attributes compared to rectangular hollow sections.
 

Dome roofs application held the largest space frame market share in 2019 and is poised to observe 11% growth rate through 2026. Dome roof space frames provide the utmost structural integrity and are highly appealing to the eye. These types of roofs are widely used in commercial events, where aesthetic appearance is of utmost importance.
 

North America space frame market held a revenue size of over USD 160 million in 2019. The presence of advanced construction technologies and growing investments in commercial infrastructure are some of the major factors propelling the regional market revenue. The presence of huge public infrastructures, such as shopping malls and concert halls, coupled with the growing number of warehouses will augment the market growth trends. Moreover, growing investments in airport construction and renovation activities will also substantially contribute to the overall market statistics.