Steel Sandwich Panels Market Size
The global steel sandwich panels market is anticipated to witness sustainable growth during the forecast period. The continuously increasing demand for new infrastructure is growing the demand for construction materials, across the globe. This, in turn, drives the global steel sandwich panels market. The construction industry has grown at a respectable-to-healthy rate in emerging economies, such as China, India, UAE, and Brazil. The rising demand for eco-friendly and sustainable construction and government support also fuels the demand for steel sandwich panels market, globally. However, the high cost of raw materials hinders the growth of the steel sandwich panels market.
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Asia-Pacific is expected to see a gradual increase in share in the steel sandwich panels market during the forecast period
The prominent players in the Steel Sandwich Panels Market are Ahern Rentals, Inc., Ashtead Group, Blueline Rental LLC, Caterpillar, Inc., Cramo PLC, Shanghai Hongxin Equipment Engineering Co., Ltd, Herc Holdings, Nesco Rentals, Riwal, and United Rentals, Inc.
Based on region, the global steel sandwich panels market has been segmented into North America, Europe, Asia-Pacific, and the Rest of the World. Europe dominated the global steel sandwich panels market, followed by Asia-Pacific and North America, primarily due to the beneficial governmental regulations for reducing greenhouse emissions, which creates a demand for green construction materials. Asia-Pacific is projected to be the most lucrative market, owing to the construction industry in the region investing in various projects, such as pre-engineered buildings, prefabricated buildings, and civil engineering buildings. Additionally, countries in this region are some of the most populated countries, worldwide. To cater to the demand for infrastructure, countries such as India, China, and South Korea, are seeking huge investments in the construction industry, which may lead to the increased demand for steel sandwich panels.
The commercial segment is expected to witness the maximum growth rate in the global Steel Sandwich Panels Market Size during the forecast period.
In terms of application, the infrastructure segment is anticipated to exhibit tremendous growth in the next few years. This can be attributed to the rapid development and expansion of offices, shopping malls, institutions, and hospitals, worldwide.
These buildings require steel sandwich panels for various purposes, such as building thermo-insulated roof panels and walls, acoustic wall panels to create a soundproof environment, building leak-proof walls for maintaining the quality of buildings, and reducing maintenance costs. Furthermore, commercial buildings are the primary end users of aesthetic construction materials. Steel sandwich panels fulfill all these purposes along with being cost-effective. Hence, the commercial segment is anticipated to witness the fastest growth rate during the forecast period.
Scope of the Report
This study provides an overview of the global steel sandwich panels market, tracking two market segments across four geographic regions. The report studies key players and provides a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia-Pacific, and the rest of the world (ROW). The report also provides a forecast, which focuses on the market opportunities for the next five years for each region. The scope of the study segments the global steel sandwich panels market by equipment type, application, and region.
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