The Global Stair Nosing Market, by Foot Traffic (Low traffic, Medium traffic, and High traffic), by Operating Environment (Indoor and Outdoor), by Application (Residential, Commercial and Industry), by Material (Wood, Aluminum, Rubber, Brass, PVC, and Others), by Stair Type (Curved, Raked, and Slanted Back) and by Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa), is expected to be valued at US$ XX million by 2027, witnessing a CAGR of 5.1% during the forecast period (2019-2027), as highlighted in a report published by Coherent Market Insights.
Stair nosing is the edge of a step or stair tread that projects beyond the riser. Stair nosing provides slip resistance and protection from serious accidents. Stair nosing also helps to reduce the wear and tear of stairs. To prevent the stair-related accidents, governments are making it mandatory to install stair nosing for all commercial and residential buildings. Adoption of stair nosing is highest in offices and commercial spaces where foot traffic is maximum.
The global stair nosing market is estimated to account for US$ XX Mn in 2018 and is expected to grow at a CAGR of 5.1% during the forecast period (2019-2027)
Increasing safety and compliance requirements are expected to drive growth of the global stair nosing market over the forecast period
According to building regulations, stairs have to be 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. All these regulations and guidelines are impacting present stair installations as well as future stair installations. Furthermore, remodeling of stair installations to meet these regulations is also increasing, which is expected to significantly drive growth of the stair nosing market over the forecast period.
The Europe region dominated the global stair nosing market in 2018, accounting for 28% market share in terms of value, followed by North America and Asia Pacific. This is owing increasing government regulations for installation of stair nosing in Europe. Asia Pacific is expected to offer lucrative growth opportunities for players operating in the stair nosing market owing to increasing construction activities which would increase stair installations in countries such as India and China.
Companies in the stair nosing market are focusing on new product developments
Consumer prefer long lasting stair nosing instead of single use product. The key players in the market are focusing on developing new materials, and new type of adhesives. Companies are also introducing new types of products by changing the designs. Demand for environment friendly stair nosing is also increasing. Depending upon the nature of the staircase, and operating condition, material for stair nosing is chosen by manufacturers. For instance, for outdoor installations, rubber stair nosing is more suitable. Development of environment friendly options by market players is expected to facilitate growth of the market over the near future. For instance, Eco Friendly Digs is selling stair nosing made from bamboo with some modifications. This bamboo stair nosing is available in various colors and is pest resistant and wet resistant.
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., Litokol and others. Companies are focusing on new product developments to gain a competitive edge in the market. For instance, in February 2018, Tarkett announced the launch of a new rubber stair tread design, which will reduce the time required for installing stair nosing. Tarkett’s new Angle Fit stair treads eliminate time-consuming cuts, and reduce the need for adhesives, thereby making stairwell installations faster, easier, and safer.
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.