U.S. Railing Industry Overview
The U.S. Railing Market was valued at USD 5.92 billion in 2022. It is projected to expand at a compound annual growth rate (CAGR) of 3.9% from 2023 to 2030. This growth stems from several key factors, including the increasing demand for affordable housing and rising government investments in residential construction.
Additionally, a growing preference for eco-friendly products, driven by heightened environmental concerns, is contributing to the market's expansion. The rapid growth of the U.S. construction industry, fueled by modernization and the ongoing shift of populations from rural to urban areas for better opportunities, also plays a significant role. Furthermore, the U.S. Administration's announced plans for constructing affordable homes in the coming years are expected to further propel the growth of the railing market.
Detailed Segmentation:
- Material Insights
The wood railing segment led the market and accounted for the largest revenue share of 41.5% in 2022. The segment is expected to witness growth on account of the excellent aesthetic properties and affordable prices of wood. Due to its high strength, longevity, and ease of maintenance, wood is extensively used in railing applications.
The demand for metal railing is expected to grow at a CAGR of 4.2% throughout the projected period 2023-2030 on account of their high strength and durability. Metal railings are made of stainless steel, aluminum, brass, wrought iron, and cast iron. Metal railings are robust, sturdy, and require minimal maintenance, which, in turn, is expected to lead to the growth of the railing market in the U.S.
- Application Insights
The residential application segment accounted for the highest market share of 52.0% in 2022 and is anticipated to grow at a CAGR of 4.1% over the forecast year. The majority of the revenue generated by the residential railing market comes from metal and composite railing. The residential sector has been growing significantly and is predicted to rise considerably throughout the projection period. The growth in single-family residential construction and remodeling activities in the U.S. are mainly driving the residential sector. Therefore, the demand for railing in the U.S. is anticipated to increase with the increase in residential construction and remodeling activities.
The non-residential sector accounted for USD 2,848.1 in 2022, and it is growing at a significant rate over the forecast year. The demand for railing in the non-residential sector of the U.S. is expected to increase due to the rebounding of offices and commercial spaces. In addition, corporate buildings, hotels, retail centers, and industrial structures need railing installed across their properties for security purposes. These elements are expected to encourage the expansion of the non-residential railing market in the U.S.
Gather more insights about the market drivers, restraints, and growth of the U.S. Railing Market
Key Companies & Market Share Insights
The U.S. railing market exhibits high competition owing to the presence of established players in this market with vertical integration across the value chain of railing. Some competitors also focus on increasing their innovations through mergers and acquisitions with top manufacturers in order to gain a competitive edge.
Key participants in the market are also focusing on technological developments for improving the quality of raw materials, components, and installation processes, thus, creating strong competition for new entrants. Additionally, the players are fulfilling the demand for eco-friendly railing systems, and hence their market penetration is higher. Some prominent players in the U.S. railing market include:
- Q-railing
- VIVA Railing
- Century Aluminum Railing
- GRECO Architectural Metals
- AMERICAN RAILING SYSTEMS, INC.
- The Wagner Companies
- ViewRail
- Fortress Building Products
- HDI Railing Systems
- Trex Company, Inc.
- Barrette Outdoor Living
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