The Stair Stringer Market is estimated to be valued at US$ 1.7 Bn or 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 lateral structural supports for stair treads and risers. Stair stringers are commonly made of wooden or metal materials such as galvanized steel, aluminum, and stainless steel. Wooden stringers are suitable for residential construction whereas metal stringers find application in both residential as well as commercial construction. Stair stringers maintain correct spacing of treads and provide stability and support to the staircase. They are available in pre-cut sizes and can also be custom-made as per project requirements.
Market Dynamics:
Growing construction of commercial buildings such as malls, educational institutions, hospitals is fueling the demand for stair stringers. Furthermore, rise in renovation and remodeling activities of aged residential and commercial infrastructure is also propelling the stair stringer market growth. Rapid urbanization in developing economies is also contributing to housing construction, thereby augmenting the market demand. Besides, increasing adoption of prefabricated stair systems owing to benefits such as ease of installation, reduced construction time, and cost-effectiveness is expected to drive the market growth over the forecast period. In addition, availability of aesthetic and durable metal stringers coupled with growing infrastructure spending in developing countries will further provide new market opportunities for stair stringer manufacturers during the forecast period.
Segment Analysis
The Stair Stringer Market Size is segmented into material and channel type. Based on material, wood holds the dominant share as it is the most commonly used material owing to its cost effectiveness and aesthetic appeal. However, the steel segment is expected to grow at a higher CAGR during the forecast period due to steel stringer’s durability and resistance to moisture damage.
PEST Analysis
Political: There are no major political risks impacting the stair stringer market.
Economic: Growing residential and commercial construction activities along with rising disposable income levels are positively impacting the market growth.
Social: Increasing consumer preference towards durable and aesthetic stair stringers is propelling the demand.
Technological: Advancements in material sciences have led to the development of new composite materials for stair stringers with higher strength and durability.
Key Takeaways
The global stair stringer market is expected to witness high growth, exhibiting a CAGR of 5.5% over the forecast period, due to increasing residential and commercial construction activities. The market size for 2023 is US$ 1.7 Bn.
The North American region dominates the market holding over 35% share due to strong construction spending. Growing renovation and remodeling activities especially in the U.S. and Canada are fueling the demand.
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, and Century Aluminum Railings. Simpson Strong-Tie commands significant market share owing to its wide product portfolio and global distribution network.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
