Railing Market Size, Share & Trends Analysis Report By Material (Metal, Composite), By Application, By Installation, By Railing Style, By Distribution Channel (Direct, Indirect), By End-use, By Region, And Segment Forecasts, 2024 - 2030

Railing Market Size, Share & Trends Analysis Report By Material (Metal, Composite), By Application, By Installation, By Railing Style, By Distribution Channel (Direct, Indirect), By End-use, By Region, And Segment Forecasts, 2024 - 2030

Railing Market Growth & Trends

The global railing market size is expected to reach USD 71.73 billion by 2030 and is anticipated grow at a CAGR of 5.0% from 2024 to 2030, according to a new report by Grand View Research, Inc. The growth is attributed to the rising investments in residential and non-residential construction owing to the rise in the population. Moreover, the migration of people from rural to urban areas for better growth opportunities is expected to further fuel the market growth.

There has been a growing demand for composite railings in developed countries such as the U.S. and Canada as they are more economical than other materials in terms of their installation costs. Moreover, the demand for composite is also rising worldwide as they are environment-friendly. Several customers choose composite materials for developing railings due to environmental concerns. Composite railings are manufactured from recycled materials, such as discarded plastic milk bottles, plastic bags, and sawdust, which often end up in landfills, thereby making these railings environmentally friendly.

The Russia-Ukraine war has negatively impacted the prices of metals, including steel, aluminum, and iron, as these countries are significant exporters of steel and metallurgical products. Due to the war, the production of steel in Ukraine has decreased. This has disrupted supply chain activities across the world, which resulted in highly fluctuating prices, thus negatively impacting the overall profit margins of companies that manufacture metal railing.

The global market is highly competitive due to the presence of various small and large players in the market. Companies are focusing on acquiring local niche players to improve customer interaction and improve their market position. In addition, major players in the market are also collaborating with different distributors to increase their market share. Furthermore, new product development and mergers & acquisitions are some of the strategies used by players to gain a competitive edge.

Railing Market Report Highlights

• Based on material segment, the metal segment dominated and accounted for 42.8% of revenue in 2023 due to its features such as minimal maintenance and widespread use in building and construction, energy, power, petroleum, chemicals, and military industries. Moreover, metal railing offers cost, durability, environmental friendliness, and ease of maintenance, boosting demand in the coming years.
• Based on application, the exterior segment accounted for the largest revenue share of 67.3% in 2023, driven by the wide utilization of railing in a variety of exterior applications, including balconies, terraces, decks, walkways, bridges, porches, and patios. In these applications, the most commonly used materials are aluminum, stainless steel, wrought iron, and vinyl, owing to their durability and ability to withstand extreme weather conditions.
• Based on installation, the professional installation segment is projected to continue its dominance in the market, and growing at a CAGR of 5.1% over the forecast period. This can be attributed to its high quality, lesser time and effort to erect, durability, long-lasting, and resistant to weather changes.
• Based on railing style, the glass panel segment is projected to reach USD 12.88 billion by 2030 as it attracts high-income customers due to its expensive nature. They are considered modern materials that provide an unobstructed view and improve the aesthetics of places wherein they are installed
• Based on distribution channel, the indirect distribution channel segment dominated and accounted for USD 37.17 billion revenue in 2023. This growth can be attributed to the preference of consumers to visually inspect the materials, products, colors, aesthetics, and specifications of railings before finalizing their purchase.
• Based on region, the North American railing market is expected to grow at a CAGR of 4.8% over the forecast period due to the growing construction industry and increasing demand for residential and commercial spaces on account of a growing population in developing countries such as India, Mexico, and China.

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