The Global Aluminum Railing Market Is Driving Growth Accelerated By Increased Infrastructure Projects

 

Aluminum railing finds wide application in construction of railings in residential and commercial spaces owing to properties such as lightweight, corrosion resistance and durability.

The global Aluminum Railing Market is estimated to be valued at US$ 970.9 Mn in 2023 and is expected to exhibit a CAGR of 9.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
Accelerated Infrastructure development in many countries has led to increased construction of residential and commercial projects. There has been growing emphasis on good infrastructure and public spaces especially in developing nations. This has resulted in increased demand for installation of durable and aesthetically appealing railings in various structures and buildings. Aluminum railing fits all requirements owing to its properties and relatively lower maintenance needs. The lightweight and easy installation of aluminum railings has further added to its popularity in infrastructure projects driving market growth.

Segment Analysis
The global aluminum railing market is dominated by the residential sub-segment, which accounted for nearly 60% market share in 2023. The high demand for aluminum railings in residential construction projects such as houses, apartments and condominiums has contributed to the large share of this sub-segment. Aluminum railings are installed in residential buildings for safety, aesthetics and to increase the lifespan of buildings.

Key Takeaways
The Global Aluminum Railing Market Size is expected to witness high growth over the forecast period 2023 to 2030 supported by rising construction activities worldwide and increasing consumer inclination towards aluminum railings owing to their cost effectiveness and low maintenance requirements. The global Aluminum Railing Market is estimated to be valued at US$ 970.9 Mn in 2023 and is expected to exhibit a CAGR of 9.5% over the forecast period 2023 to 2030.

Regional analysis
The Asia Pacific region dominated the global aluminum railing market in 2023 with a share of over 40% owing to robust growth in residential and commercial construction in China, India and other developing Asian countries. Rapid urbanization and rising disposable income levels are driving the demand for aluminum railings in the region. North America is expected to witness the fastest growth during the forecast period supported by recovery in the US construction industry.

Key players
Key players operating in the aluminum railing market are Fresnillo PLC, Pan American Silver Corp., Coeur Mining, Inc., Hochschild Mining PLC, Hecla Mining Company, Silvercorp Metals Inc., First Majestic Silver Corp., Endeavour Silver Corp., Fortuna Silver Mines Inc., SSR Mining Inc., Wheaton Precious Metals Corp., MAG Silver Corp., Americas Gold and Silver Corporation, Great Panther Mining Limited, Avino Silver & Gold Mines Ltd.

For More Insights, Read: https://www.newsstatix.com/aluminum-railing-market-size-share-and-growth-forecast-2023-2030/