Strut Channels Market: Introduction
Strut channels are light structural support units used in the construction and electrical industries in the global market. The strut channels are used for supporting functions such as support for wiring & cables, plumbing and for mechanical support such as ventilation system or HVAC vents.
A strut channel is basically made up of metal sheet such as steel and aluminum, and has spaces to mount the interconnecting components. Now-a-days strut channels are also being constructed from fiberglass, as they are light in weight, corrosion resistant and also are strong. However, the metals such as aluminum and stainless are best options for construction of channel struts as they are both lightweight and very strong. Strut channels have holes along their structure to facilitate the interconnected components and also help in fastening the strut channels to the building structures.
The foremost advantage of strut channels in the construction industry is the availability of many sizes and they can be also easily and rapidly connected together with the help of strut specific bolts and fasteners. The strut channels can be very rapidly assembled and disassembled with minimum requirement of tooling. Additionally, the strut channels can also modified after the installation any time in the future. The only challenge or we can threat of substitution is the use of custom fabricated steel and aluminum bars which have to be welded and require extensive bolting, which has none of the above advantages.
Strut Channels market: Dynamics
The growth in the urbanization, high standard of living and the increasing interest of global population in the architectures and residential buildings has led the strut channels market to a good position in the global market. The Increasing purchasing power, high disposable income and growing consumer preference for more westernized and modern taste for strut channels has been the most important driver for the global strut channels market. In the developed economies where the people have good purchasing power parity, hence they have started to customize the strut channels as per their own design. This has led to new segment in strut channels market is called as custom strut channels where the user or the customer decides and is involved from the selection to the final stages of application of the strut channels.
The commercial industries like the (hotels, business tower, Office buildings, malls etc.) are spending 5% - 10% revenue on reconstruction and renovations every 3 – 5 years. The world is growing very rapidly the tall skyscrapers like the Burj Khalifa In Dubai, the Shangai Tower In China, the world trade center in America, the Petronas twin Towers in Malaysia has spent a huge amount of money in the interior strut channels to make them state of the art facility. The strut channels depends upon this commercial sector and this will drive the strut channels market very rapidly globally.
The consumers have become more aware of the toxic and the hazardous products being used in the global construction market and they are more concerned on their health and the protection of environment. In such condition the strong market players in the strut channels industries have been smart enough to introduce products which not harmful to human and the surrounding environment. The impact of the green movement to save our environment have picked up pace and this movement has been the key driver for the strut channels market throughout the globe. The growth of end use industries such as construction, automobiles, furniture and steel drives the strut channels market
Strut Channels market: Segmentation
On the basis of product type, the strut channels market is segmented as:
On the basis of material type, the strut channels market is segmented as:
On the basis of end use of strut channels, the market is segmented as:
Strut Channels Market: Regional Outlook
Latin America and Middle East are projected to open new opportunities for the strut channels market over the forecasted period. Expansion of building and construction industries in emerging economies, such as China, ASEAN countries and India is expected to be a key driving factor for Strut Channels market growth in the Asia-Pacific region. Europe and North America regions are expected to hold prominent market shares, owing to growing automation in construction and manufacturing sectors. DIY (Do-it-yourself) methods is becoming a trends in some countries as it saves a lot of cost of hiring the labor for the applications and it gives the customer a good opportunity for creativity. But it requires a lot of time to do this properly and chances of mistakes will result in the loss of the customer’s money. The emergence of infrastructure projects globally, growth of all related global end use industries and increasing urbanization has created a good opportunity to strut channels industry to increase their market globally. Developing economies are in the phase where there is a lot of construction and infrastructure developments are taking place very rapidly so the growth and the opportunities for the strut channels market remains positive for these economies.
Strut Channels Market: Market Participants
Examples of some of the market participants in the strut channels market are:
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