PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1392108
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1392108
The global aluminum railing market is estimated to be valued at US$ 970.9 million in 2023 and is projected to reach US$ 1,170 million by 2030, growing at a CAGR of 2.7% from 2023 to 2030.
Report Coverage | Report Details | ||
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Base Year: | 2022 | Market Size in 2023: | US$ 970.9 Mn |
Historical Data for: | 2018 to 2021 | Forecast Period: | 2023 - 2030 |
Forecast Period 2023 to 2030 CAGR: | 2.70% | 2030 Value Projection: | US$ 1,170 Mn |
The aluminum railing is strong and safe. It doesn't rot or rust and it resists fluctuations in temperature. It also won't corrode like steel and it doesn't splinter or need structural post inserts to meet codes like wood. However, there are some mistakes that homeowners make during the installation process that can lead to expensive repairs and even a collapsed system.
Increasing industrial applications, growing infrastructure development, and technological advancements are anticipated to drive the growth of the global aluminum railing market over the forecast period. Moreover, the replacement of traditional materials is also expected to boost the growth of the global aluminum railing market over the forecast period. Advancements in alloy formulations, light-weighting initiatives, sustainable and green initiatives, and the growing renewable energy sector are expected to create growth opportunities for the global aluminum railing market during the forecast period. Aluminum railings are resistant to weather conditions, corrosion, and rust, which makes them a preferred choice for outdoor applications. Their low maintenance requirement and high durability are attractive to both residential and commercial property owners. Aluminum is recyclable and using it for railings contributes to the sustainability of the building, which is a growing concern in today's world. However, the market may face challenges due to the fluctuating prices of aluminum and competition from other materials like steel and wood. Emerging markets, particularly in Asia and Africa, present significant opportunities for the expansion of the aluminum railing market due to their rapid urbanization and construction growth.
However, volatile raw material prices, stringent environmental regulations, and intense competition are expected to hamper the growth of the aluminum railing market over the forecast period.
Aluminum Railing Market Detailed Segmentation: