The Press-Locked Grating Market is growing at a significant rate during the forecast period, owning to increasing demand form construction and infrastructure sector. Press-locked grating is a highly versatile product that can be used in various industrial applications such as walkways in port, offshore, gardens, pedestrian streets, and others. In addition, press-locked grating offers the advantage of superior lateral support, which makes it a material of choice. According to National Buildings Construction Corporation (NBCC), in 2020, India has started the construction of two multi-level parking sites and be completed, in phases, by 2024. The facilities will provide accommodation for 330 buses and 690 vehicles each, which is two times larger than the existing sites. In addition, in 2021, the Chinese government approved a nationwide program of urban park construction and attributed to investing about US$15 billion every year for the next five years to build 1000 large parks. On the other hand, the number of airport building projects in China is aligned to set the market growth in the forecasted period. Such developments are expected to drive the press-locked grating market growth during the forecast period. Press-Locked Grating Market size is forecast to reach US$785.9 million by 2026, after growing at a CAGR of 5.1% during 2021-2026.

According to the Civil Aviation Authorities, in 2020, all the pending construction has resumed on 65 airport projects across China, representing more than 80% of the country's airport projects. Also, China plans to build an additional 215 airports by 2035 to turn its aviation industry into a strategic part of its trillion-dollar economy. The strategic growth of aviation infrastructure has made the country's press-locked grating products grow as they are widely used in construction. For instance, in 2021, the Chinese government approved a nationwide program of urban park construction and attributed to investing about US$15 billion every year for the next five years to build 1000 large parks. Whereas, according to National Buildings Construction Corporation (NBCC), in 2020, India has started the construction of two multi-level parking sites and be completed, in phases, by 2024. The facilities will provide accommodation for 330 buses and 690 vehicles each, which is two times larger than the existing sites, which has increased the demand for stainless steel press-locked grating in the region. Thus, these factors are expected to drive the press-locked grating market growth during the forecast period. Furthermore, the construction of highways excels the demand for press-locked grating as it is used over drains and air vents as filters to block the movement of large particles and allow movement of water or air. Thus, the rapid development in highway construction in India is propelling the growth of the press-locked grating market in the country. For instance, according to India Brand Equity Foundation, in 2021, the Indian government launched 1,080-km road construction projects worth US$ 3.4 billion in the country under the Bharatmala Pariyojana project. Moreover, the Indian government has decided to spend about US$1.4 trillion on infrastructure during 2019-2023 to have a sustainable development of the country. And also to invest of US$ 750 billion for railways infrastructure from 2018-30. Thus, the rapid development in the sector is boosting the demand for press-locked grating in the various region, especially in the developing economies in the forecast period.

Asia Pacific is anticipated to emerge as a major player in the global market over the forecast period owning increasing construction and infrastructure activities in the region. For instance, as of September 2021, the Airports of Thailand Public Company Limited (AOT) is expanding the terminal at Suvarnabhumi Airport. A building extension to the east (east expansion), a building extension to the west (west expansion), and a project to the north (north expansion) are under construction in Thailand. In July 2020, the Australian federal government announced a US$1 billion funding package, aimed at "shovel-ready" smaller-scale projects in all the Australian states. The inland rail project from Melbourne to Brisbane, the Marinus undersea electricity link between Tasmania and Victoria, the Olympic Dam extension in South Australia, emergency town water projects in NSW, and road, rail, and iron ore projects in Western Australia are among the 15 projects on the priority list for "fast-track approval”. Additionally, in May 2021, in the federal budget the Australian government pledged an additional US$11.3 billion for infrastructure projects. This includes additional money to aid 15 early-stage investment initiatives move forward. In 2019, China approved to invest $142 billion in 26 infrastructure projects. In addition, according to India Brand Equity Foundation (IBEF), India plans to spend US$ 1.4 trillion on infrastructure in the next five years. Thus, such initiatives are anticipated to aid the demand for the press-locked grating product.

However, COVID-19 wreaked havoc on the industrial, construction, and infrastructure industries, putting the press-locked grating market in jeopardy. It has had economic impacts on the construction and infrastructure related to worker well-being and availability the impact of reduced incomes. For instance, according to International Trade Administration (ITA), the construction output in Quarter 2 (Apr to June) 2020, dropped by a record 35.0% compared with Quarter 1 (Jan to Mar) 2020 in Great Britain. The pandemic situation had set a pause towards the growth of the ongoing construction activities in the U.K region. Paused manufacturing activities and supply trade disruption affected the market growth for press-locked grating in the forecast period. COVID-19 reduces demand for infrastructure, industrial activities, or any kind of work in the industries intensify. Therefore, had a strong impact on future demand for press-locked grating, impacting the growth of the press-locked grating market. 

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Press-Locked Grating Market Growth Drivers:

Rising demand from Construction and Infrastructure Sector:

The growing construction and infrastructure sector is driving the press locked grating market as it is widely used in highways, airport runways, bridge floors, and wheel traffic. According to the Civil Aviation Authorities., in 2020, all the pending construction has resumed on 65 airport projects across China, representing more than 80% of the country's airport projects. Also, China plans to build an additional 215 airports by 2035 to turn its aviation industry into a strategic part of its trillion-dollar economy. The strategic growth of aviation infrastructure has made the country's press-locked grating products grow as they are widely used in construction. For instance, in 2021, the Chinese government approved a nationwide program of urban park construction and attributed to investing about US$15 billion every year for the next five years to build 1000 large parks. Whereas, according to National Buildings Construction Corporation (NBCC), in 2020, India has started the construction of two multi-level parking sites and be completed, in phases, by 2024. The facilities will provide accommodation for 330 buses and 690 vehicles each, which is two times larger than the existing sites, which has increased the demand for stainless steel press-locked grating in the region. Thus, these factors are expected to drive the press-locked grating market growth during the forecast period. Furthermore, the construction of highways excels the demand for press-locked grating as it is used over drains and air vents as filters to block the movement of large particles and allow movement of water or air. Thus, the rapid development in highway construction in India is propelling the growth of the press-locked grating market in the country. For instance, according to India Brand Equity Foundation, in 2021, the Indian government launched 1,080-km road construction projects worth US$ 3.4 billion in the country under the Bharatmala Pariyojana. Moreover, the Indian government has decided to spend about US$1.4 trillion on infrastructure during 2019-23 to have a sustainable development of the country. And also to invest of US$ 750 billion for railways infrastructure from 2018-2030. Thus, the rapid development in the sector is boosting the demand for press-locked grating in the various region, especially in the developing economies in the forecast period. 
 
The Major Players in this Market Include

The major companies in the Press-Locked Grating market include Gebrüder MEISER GmbH, Alabama Metal Industries Corporation (AMICO), Ohio Gratings Inc., Webforge (Valmont Industries Inc.) and Interstate Gratings. These companies have been successful in catering to a variety of customers owning to their wide range of press-locked grating products, constant product developments, and innovation. They offer a wide range of press-locked grating products due to its growing application in the industrial and construction & infrastructure industries. Various strategic initiatives are being pursued by these industry participants in order to expand their presence. For instance, In September 2019 Meiser established its own subsidiary company Meiser gratings Inc. in the USA. Meiser continues to strengthen its diversification. In April 2020, Ohio Gratings, Inc., acquired the rights to market and manufacture ALGRIP slip- resistant flooring products.

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