The stair stringer market comprises stair stringers primarily used for supporting stair treads, risers and railings used in stairways. Stair stringers are an essential part of staircase systems and are available in various materials including wood, metal, PVC and concrete. They provide structural integrity to staircases and ensure safety by bearing the load of people using the stairs. Rising residential and commercial construction activities have fueled the demand for staircases, subsequently driving the need for stair stringers.
The Global stair stringer market is estimated to be valued at US$ 34.99 Bn in 2024 and is expected to exhibit a CAGR of 7.9% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the stair stringer market are F. Hoffmann-La Roche Ltd, Biocryst Pharmaceuticals Inc., Bristol-Myers Squibb Company, Kyowa Kirin Co., Ltd., Genmab A/S, Seagen Inc., GlaxoSmithKline plc., Johnson and Johnson Private Limited, Elorac, Acrotech Biopharma, Merck and Co. Inc., Novartis AG, SHIONOGI & Co., Ltd., Spectrum Pharmaceuticals Inc., and Bausch Health Companies Inc.
The residential sector is expected to provide significant opportunities for Stair Stringer Market Size manufacturers owing to increasing residential housing starts globally. Additionally, rapid urbanization and growing middle-class population are fueling demand for residential spaces.
Major stair stringer manufacturers are focusing on expanding globally to leverage opportunities in emerging economies witnessing strong growth in construction spending such as Asia Pacific and Middle East and Africa. Companies are setting up manufacturing plants and strengthening distribution networks in these regions.
Market drivers: The increasing residential and commercial construction activities are one of the key drivers for the stair stringer market. Rising disposable incomes and rapid urbanization are augmenting demand for residential and commercial infrastructures globally thereby propelling demand for staircases and stringers.
Market Restraints: Volatility in raw material prices is a major challenge for stair stringer manufacturers. Fluctuations in prices of wood, metals and plastics increase production costs. Additionally, growing popularity of stairs substitutes such as lifts and escalators can hamper the market growth.
Segment Analysis
The stair stringer market can be segmented based on material type into wood, metal, and others. Within these, the wood segment dominates the market as wood provides an aesthetic appeal and is cost-effective. Due to its properties like durability, strength and workability, wood is widely used for constructing stair stringers and is the material of choice for residential and commercial construction projects.
The market is further segmented based on end use into residential and commercial. The residential segment holds a larger share as wood remains a prominent material for constructing staircases in homes. Its widespread adoption in residential projects stems from preferences regarding aesthetics, warmth and budget. Commercial applications include its usage in institutional, public and office buildings. However, the commercial segment is growing at a faster pace driven by factors like increased construction of commercial infrastructures worldwide.
Regional Analysis
Asia Pacific dominates the global stair stringer market due to high construction activity in the region's emerging countries like China and India. This is fueled by rising disposable income, rapid urbanization and growth in the real estate sector. The residential construction sector accounts for the major demand as the region experiences increased home buying.
North America follows APAC in terms of market share and is expected to grow steadily supported by renovation and remodeling activities in the US and Canada where wooden staircases are quite common. Europe holds the third position with Western European nations constituting a major portion of regional demand led by commercial and infrastructure development projects.
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