by The global Stair Stringer Market is estimated to be valued at US$ 1.7 Bn in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Stair stringers are an important structural element of stairs that connect the treads and risers. They help distribute the weight and provide support to the stair system. Stair stringers are available in various materials such as wood, metal, reinforced plastic and composites. Wood is the most commonly used material for stair stringers due to its sturdiness and aesthetic appeal. However, metal and reinforced plastic stair stringers are also gaining popularity owing to advantages such as durability, sustainability and maintenance-free properties. Stair stringers find wide application in residential and commercial construction for providing safe and aesthetically pleasing stairways.
Market key trends:
One of the key trend gaining traction in the Stair Stringer Market Size is the growing popularity of prefabricated and modular stair stringers. Prefabricated stair stringers offer advantages such as reduced installation time, consistency in quality and lower labor costs. Modular stair stringers allow for customized designs and configurations. With the growing construction of modular homes and increasing renovation activities, the demand for prefabricated and modular stair stringers is expected to rise significantly over the forecast period.
Porter’s Analysis
Threat of new entrants: Low capital requirement & easy assembly process of components makes threat of new entrants moderate in this market.
Bargaining power of buyers: Large number of established players providing standardized products keeps buyers bargaining power moderate.
Bargaining power of suppliers: Due to availability of alternative material suppliers, supplier bargaining power stays low.
Threat of new substitutes: Technological innovations have led to substitutes like spiral staircases with moderate threat to volume growth.
Competitive rivalry: Strong. Major players compete based on product quality, innovation & service.
Key Takeaways
The global Stair Stringer Market is expected to witness high growth, exhibiting CAGR of 5.5% over the forecast period, due to increasing residential & commercial construction activities. The market size for 2023 is US$ 1.7 Bn.
Regional analysis
The Asia Pacific region dominated the global market in 2023 with around 35% market share owing to rapid urbanization and infrastructure development projects ongoing in countries like China and India. North America is expected to witness high growth during the forecast period supported by rising remodeling & refurbishment activities in the US.
Key players
Key players operating in the Stair Stringer market are Simpson Strong-Tie Co., Inc., Fast-Stairs Inc., Pylex Products, Dolle USA, Universal Forest Products, Inc., Regal Ideas Inc., Arke Stairs, The Iron Shop, EZ Stairs & Century Aluminum Railings. Simpson Strong-Tie Co., Inc. specializes in hidden deck fasteners used to strengthen deck connections.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
