space frame Saudi market study
Space Frame Market Size By Material (Steel, Aluminum, Metal Alloys), By Structure (Single Layer, Double Layer, Triple Layer). Moreover, By Tubes (Circular Hollow, Rectangular Hollow), By Application (Dome Roof, Skylight, Canopy & Entry Way, Roof, Atrium, Vertical Glazed), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026
In Addition, The size exceeded USD 554 million in 2019 and will grow at a CAGR of 10.6% from 2020 to 2026. Also, The demand for new structural forms along with the growing innovation in building techniques has resulted in the increasing adoption of space frames in various commercial & industrial infrastructures.
Additionally, The growing construction industry is projected to strongly complement the market growth. Particularly, According to Oxford Economics, the global construction industry is expected to reach a value of over USD 15.5 trillion by 2030 with major contributions from India, the U.S., and China. Firstly, Growing investments for the development of commercial structures mainly in the emerging economies will boost the market revenue.
Penetration of new & improved:
The penetration of new & improved industrial structures coupled is still with increasing demand for lightweight materials is anticipated to further amplify the space frame industry growth. So, the space frames are gaining wide popularity across the globe and have been widely seen in exhibition pavilions, sports arenas, transportation terminals, assembly halls, warehouses, airplane hangars, and workshops. These frames are not only used on roof tops but also find applications in exterior walls, floors, and canopies. Furthermore, these structures also aid in hosting various concerts, sports tournaments, and mass assemblies with the advantage of extension and contraction as per gathering strength, which are the major advantages of space frames on concrete roofing systems.
|Market Size in 2019:||554.6 Million (USD)|
|Forecast Period:||2020 to 2026|
|Forecast Period 2020 to 2026 CAGR:||10.6%|
|2026 Value Projection:||609.9 Million (USD)|
|Historical Data for:||2016 to 2019|
|No. of Pages:||250|
|Tables, Charts & Figures:||182|
|Segments covered:||Materials, Structure, Tubes, Applications|
|Pitfalls & Challenges:||
Space frame construction:
Space frame construction involves various engineering difficulties, a major downside to the market growth. These structures require advanced engineering techniques that act as a major discrepancy in their adoption rate. Developed nations including the U.S and Germany have been widely adopting the product in recent times, whereas their slow adoption rate is seen mainly in the developing regions.
Also, With the ongoing pandemic, the global construction sector has seen a major set-back, in turn, acting as a major restraint to the space frame market. As well as, With the enforcement of lockdowns across various nations, various music concerts, festivals, etc., have been put on hold; hence, a major revenue disruption can be seen in 2020. However, the market is predicted to take its regular course by the end of 2022.
Steel space frames are projected to witness the dominant position in the market
The steel space frame market size is likely to register a decent growth rate of more than 10.5% through 2026. Also, Steel material held around 50% market revenue share in 2019. Also, 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.
Superior sturdiness and lightweight property will escalate the double layer grid frame structure usage
The double layer grid type is expected to exhibit the highest revenue gains during 2020-2026. Because, In the double layer grid, elements are organized in multiple layers parallelly at a fixed distance. Before, Double layer grids are widely used in the industrial & commercial sectors, mainly in warehouses, hangers, travel terminals, and others. Unlike, The renovation of commercial buildings along with increasing product penetration in airports will drive the double layer grid space frames demand.
Especially, Circular hollow sections will accommodate substantial space frame market share
Besides, 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 will prove to be the highest consuming application
Also, These roofs application held the largest space frame market share in 2019 and is pois to observe 11% growth rate through 2026. Especially, Dome roof space frames provide the utmost structural integrity and are highly appealing to the eye. Furthermore, These types of roofs are widely use in commercial events, where aesthetic appearance is of utmost importance.
North America to be among the leading regional markets by 2026
Moreover, North America space frame market held a revenue size of over USD 160 million in 2019. Because, 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.
Additionally, the major players involved in the industry are DSI Space frames, HINDUSTAN ALCOX LIMITED, Octamec, CST Industries, Inc., Xuzhou LF Engineering & Construction Co. Furthermore, Triocon Space Frame Technologies Pvt, Ltd., Delta Structures, Inc., USKON Space. So, Frame System Construction Industry and Commerce Co., Inc., Pillow Space Frame Ltd., Gossamer Space Frames, LLC, Lindner Group, HHSS GROUP, Core Metallic Ind. Furthermore L.L.C, Prisma Metal Industry L.L.C, MERO-TSK International GmbH & Co., KG. Moreover, Zhejiang Southeast Space Frame Co., Ltd., and Jiangsu Andy Steel Structure Co., Ltd.
Especially, This market research report on space frame includes in-depth coverage of the industry with estimates & forecast in terms of volume in square foot and revenue in USD million from 2016 to 2026, for the following segments:
Also, space frame market study, By Material
- Metal alloys
Market, By Structure
- Single layer
- Double layer
- Triple layer grid, too
Market, By Tubes
- Circular hollow section
- Rectangular hollow section
Especially, Market, By Application
- Steel Dome roof
- Canopy & entry way
- Vertical glazed
- Others (Skywalks, side bridges etc.)
The above information is provided on a regional and country basis for the following:
- North America
- Also, Asia Pacific
- Latin America
- South Africa
- Saudi Arabia
- Also in UAE
Additionally, monocoque space frame structure, space frame market size share, frame market size share forecast, type space frame market size