Report ID: UCMIG15F2120
Report ID:
UCMIG15F2120 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
The 2022 estimation of the global railing market's size stood at approximately USD 51.0 billion, and it is projected to experience a compounded annual growth rate (CAGR) of 4.8% between 2023 and 2030. This market's expansion is foreseen to be primarily propelled by augmented governmental investments in both residential and non-residential construction. Furthermore, the trend of individuals migrating from rural to urban areas in search of enhanced opportunities for growth is predicted to heighten the need for contemporary railing solutions, exerting a positive impact on market demand. As urbanization and modernization advance, more people are making the transition from rural to urban settings, creating favorable prospects for market growth.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Construction Materials by segment aggregation, the contribution of the Construction Materials in Diversified Materials and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Report ID: UCMIG15F2120