Impact Analysis of Covid-19
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Market insight - Global Stair Nosing Market
Stair nosing is the projection in the horizontal direction at the end of the stair. The end part of the stair is the most crucial part as foot traffic is highest at this region of the stair. Stair nosing is used to prevent slipping accidents while using stairs. Stair nosing has a different color than regular stairs, which helps the person using the stairs to identify the end of the stair. For industrial and commercial staircases, stair nosing is mandatory as it prevents accidents, and in some cases, death. The various materials used for stair nosing include wood, aluminum, rubber, brass, PVC and others. The selection of material and design depends on factors such as requirement and budget, type of use, stair type, etc.
The global stair nosing market was valued at US$ XX million in 2018 and is expected to reach US$ xyz million by 2027, growing at a CAGR of 5.1% between 2019 and 2027.
Market Dynamics- Driver
Stringent staircase safety standards are key factors that are expected to drive growth of the global stair nosing market over the forecast period.
Many countries have made it mandatory to use stair nosing as a safety measure. For instance, in the U.S., according to Building Regulation, Title 24, it is mandatory to use stair nosing in municipal corporations, school buildings and other places. Furthermore, stair nosing should have contrast color to that of the staircase. This law is mandatory for new construction projects as well as existing buildings. Such regulations and guidelines are impacting present stair installations and are also expected to impact future stair installations. Furthermore, the remodeling of older stair installations to meet these regulations is also increasing. This is projected to significantly drive growth of the stair nosing market. Among application, the commercial segment held a dominant position in global stair nosing market in 2018, followed by the residential and industrial segment.
Increasing construction activities are also expected to drive the growth of the global stair nosing market over the forecast period.
The global construction market is expected to witness rapid growth over the forecast period. Increasing construction activities in Asia Pacific region are expected to fuel new staircase installations and subsequently drive the stair nosing market growth over the forecast period.
Figure 1. Global Stair Nosing Market Share (%), by Region (2018)
Source: Coherent Market Insights
North America held a dominant position in the global stair nosing market in 2018, followed by Europe and Asia Pacific. Increasing demand for stair nosing in Asia Pacific region is expected to offer lucrative growth opportunities for market players. The market for stair nosing is still in nascent stage, however intelligent sales and marketing strategies are estimated to facilitate the market growth in the Asia Pacific region near future. Demand for stair nosing from commercial places such as malls and entertainment places will significantly drive the growth of the market in the region. Furthermore, India and China are expected to be the major growth engines of the market over the forecast period due to increasing construction activities in the region.
Increasing demand for products such as illuminated stair nosing is expected to create lucrative growth opportunities for market players
Companies are offering illuminated stair nosing which are equipped with lighting. For instance, VPI Corporation, a U.S. based company, is providing illuminated stair nosing. When a person walks over the stair or stair nosing, next stair gets illuminated making it safe and easier for a person to walk on. Thus, growing adoption of IoT-based solutions is expected to offer optimal growth opportunities for market players in the near future.
Building Regulations determine how the stairs are designed, built, and installed in a safe way for people moving in and around the building. Color, dimensions, coverage of thread material, slip resistance, and other guidelines are introduced by regulatory bodies such as Parliament of the United Kingdom (Disability Discrimination Act (DDA)/ Equality Act 2010), The Building Regulations (K&M), California Energy Commission (Title 24), British Standards Institute (BSI) (BS 5395-1:2010), and others for installation of stairs and stair nosing. According to Building Regulations (K&M), BS8300 and BS9266, the color of the stair nosing should differ from that of the floor covering. To prevent accidents, Title 24 mandates that all stair nosing should be fitted with visual contrast. Furthermore, to differentiate between the step and the tread, nosing must have a contrast color. It also states that strips should measure two inches wide and parallel to the nosing of each step and must have anti-slip features.
Key companies operating in the global stair nosing market include 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 among others.
- Key companies in the market are focused on offering new products to consumers, in order to gain a competitive edge in the market. For instance, in January 2018, Quantum Profile Systems Ltd., a UK based company, launched the Plus Tread product in the market. Plus tread is stair nosing made from PVC material.
- The global stair nosing market is in nascent stages. Therefore, key companies are focusing on research and development activities to gain a competitive edge in untapped markets. For instance, in May 2019, MEISHUO Building Materials Co. Ltd., a China-based company, launched a new anti-slip test for FPR (Fiberglass reinforced panels) stair treads with heavy reinforced stair nosing.