by The global Stair Nosing Market is estimated to be valued at US$ 1.09 Bn in 2023 and is expected to exhibit a CAGR of 5.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Stair nosing is a critical safety product installed at the edges of stair steps. It helps prevent slips and falls on staircases by making stair edges more visible and increasing traction. Stair nosing is made from durable materials like aluminum, rubber, and PVC. It comes in a variety of shapes, designs, and colours to match different interior décor styles. Stair nosing improves safety in residential and commercial buildings like schools, hospitals, offices, malls, airports etc. that have large numbers of people using staircases daily. The growing construction of new commercial and residential buildings worldwide is driving the demand for stair nosing.
Market Key Trends:
One of the key trends in the Stair Nosing Market Size is the growing demand for anti-slip stair nosings. Slip-resistance is a critical safety factor for stair nosings. Falling on stairs can cause serious injuries. Hence, manufacturers are focusing on developing stair nosings with advanced anti-slip properties. For example, nanotechnology is being used to imbue stair treads and nosings with high-friction surfaces that maintain traction even when wet or soiled. Nano-structured stair nosings offer superior slip resistance compared to conventional stair edges. The anti-slip properties and reliability of innovative stair nosings embedded with nanotechnology will further increase their adoption across various end-use sectors.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as stair nosing market requires high initial investments for R&D, equipment, skilled labor etc. However, established players have technological and financial barriers.
Bargaining power of buyers: The bargaining power of buyers is high due to availability of numerous suppliers and product variants. Buyers can negotiate on price and quality.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as raw materials used in stair nosing are commoditized. Suppliers have less influence on pricing due to availability of substitutes.
Threat of new substitutes: Threat of substitutes is low as stair nosing fulfill unique requirement of safety on stairs. However, alternatives like hazard warning tapes offer low threat.
Competitive rivalry: Intense due to presence of numerous global and regional players competing on quality, price, features and service. Players differentiate through innovation.
Key Takeaways
The global Stair Nosing Market is expected to witness high growth, exhibiting CAGR of 5.8% over the forecast period, due to increasing safety awareness and strict building standards. The market size for 2023 is estimated at US$ 1.09 Bn.
Regionally, North America dominates the stair nosing market attributed to early adoption of advanced safety products in commercial and residential buildings. Asia Pacific is the fastest growing market led by rising construction activities in China, India and other developing nations.
Key players operating in the stair nosing market are Quantum Profile Systems Ltd., Amstep Products, Novaproducts Global, Optimum Technologies, Inc., Tarkett S.A., MEISHUO Building Materials Co. Ltd., Kinesik Engineered Products, Spectrum Floors, C.A.T. LTD. and Litokol. Players are focused on developing innovative, sustainable and aesthetic stair nosing products to strengthen market presence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
