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.
SWOT Analysis
Strength: Stair Stringer market has strong demand from construction industry as stair stringers provide strength and support to stairs. They are cost-effective for builders and last for long periods of time. Stringers help evenly distribute the load placed upon stairs.
Weakness: Raw materials used for stair stringers like wood are prone to breakage over time due to regular usage. Transportation of long stair stringers can be challenging.
Opportunity: Growth in residential construction projects in developing nations will boost demand for stair stringers in the forecast period. Replacement of old stair stringers in aged buildings and homes also presents an opportunity.
Threats: Rising raw material costs can increase production costs of stair stringers. Alternative materials like steel, aluminum and plastics also pose competition.
Key Takeaways
The Global Stair Stringer Market Demand is expected to witness high growth.
Regional analysis related content comprises The Asia Pacific region is expected to dominate the stair stringer market during the forecast period. Rapid urbanization and growth in residential construction projects in China, India, Indonesia and other Southeast Asian countries will drive demand.
Key players operating in the Stair Stringer market are Tilray, Aphria, Inc., Wayland Group Corp., Aurora Cannabis, Canopy Growth Corporation, and GW Pharmaceuticals, Plc.. The market is competitive with presence of several small and large scale manufacturers. Key players are focusing on new product launches, expanding their manufacturing facilities and enhancing distribution networks globally.
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