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Global Stair Stringer Market Growing Demand Propelled By Increased Construction Activities

Stair Stringer Market

Stair stringers are an important structural element used in staircases to provide lateral support and attachment surface for treads and risers. Stair stringers are typically made of durable materials such as wood, steel, fiberglass and concrete which provide structural integrity and support to staircases in residential as well as commercial settings. With growing construction of residential and commercial buildings across the globe, demand for effective and durable stair stringers has been on the rise. 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 13% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the key trends driving growth in the global stair stringer market is increased adoption of prefabricated and modular construction techniques. Modular and prefabricated construction refers to the manufacture of building components or modules in a controlled factory environment which are then transported and assembled at the construction site. This brings advantages such as reduced on-site construction time, consistent quality, and cost savings. In recent times, prefabricated stair stringers made of materials such as steel and fiberglass have gained popularity as they offer advantages such as light weight, easy installation, precision cutting, and consistency. The prefabricated nature also helps address issues such as labor shortages faced by the construction industry globally. This, in turn, is expected to propel demand for prefabricated stair stringers during the forecast period.

Segment Analysis

The global stair stringer market is dominated by the wood segment. Wood stair stringers are preferred material for stairs as they provide sturdiness, are easily available, and cost effective. Moreover, wood offers aesthetic appeal and suits all interior decors well. Thus, wood stair stringers hold over 60% market share currently. In recent times, polymeric stringers are also gaining acceptance due to properties like maintenance free and water resistance features. However, high cost continues to restrict polymeric stringers acceptance in cost conscious regions.

Key Takeaways

The Global Stair Stringer Market Size is expected to witness high growth. Regional analysis related The Asia Pacific region currently dominates the global stair stringer market and is expected to witness the fastest growth during the forecast period. Countries like China, India and other developing economies are witnessing infrastructural growth and rapid urbanization. This is increasing the residential and commercial construction activities in the region thereby driving the demand for stair stringers.

Key players operating in the stair stringer market are Tilray, Aphria, Inc., Wayland Group Corp., Aurora Cannabis, Canopy Growth Corporation, and GW Pharmaceuticals, Plc. Tilray is one of the largest players with extensive geographical presence across North America and Europe. The company offers wide range of wood and polymeric stair stringers. Similarly, Aphria and Wayland Group also specialize in wood offerings with focus on domestic markets of Canada and United States respectively. Aurora Cannabis and Canopy Growth Corporation provide balanced portfolios including wood, metal and polymeric varieties to cater to varied client needs. GW Pharmaceuticals holds a notable position in the medical-use cannabinoid segment through its Epidiolex product for childhood epilepsy. The company is also venturing into recreational cannabinoid products in emerging international markets.

Explore more information on this topic, Please visit -

https://www.insightprobing.com/stair-stringer-market-growth-and-forecasts-analysis/

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