According to a new report published by Allied Market Research, titled, Australia Balustrade Market by Railing Type, Material Type, and Application: Opportunity Analysis and Industry Forecast, 2020–2027,” the Australia balustrade market size was valued at $44.1 million in 2019, and is projected to reach $54.5 million by 2027, registering a CAGR of 4.0% from 2020 to 2027.
The commonly observed types of balustrade are interior railing, and exterior railing. Among these, the interior railing segment accounts for the largest market size by value, owing to increased demand from commercial spaces such as hotels, restaurants, and others. The Australia balustrade market is analyzed with respect to different application provided, such as residential, and non-residential. The market is mainly driven by development in residential, commercial, & construction sectors. However, fluctuation in raw material prices limit the Australia balustrade market growth.
By material type, the glass segment dominated the Australia balustrade market in 2019, in terms of revenue, accounting for around 4.9% share of the industry, followed by stainless steel, and aluminum. Moreover, the residential segment is witnessing high CAGR, owing to urbanization, increase in spending for house remodeling, and ease in installation. The favorable government policies to promote residential and commercial sector drives the demand for balustrade. In addition, increase in infrastructure spending and replacement of old buildings & structure propels the demand for balustrade. Furthermore, based on railing type, the exterior railing segment is anticipated to experience rapid growth during the forecast period, due to rise in investments in development of commercial infrastructures in Australia.
However, owing to the coronavirus situation, various balustrade manufacturers in Australia stopped their business production due to lockdown implemented in the country. This break directly impacted the sales of balustrade companies. In addition, lack of manpower and raw materials halted the supply of balustrade. However, reopening of production facilities and introduction of vaccines for coronavirus disease are anticipated to lead to re-opening of balustrade companies.
The Australia balustrade market has witnessed significant growth over the past decade, owing to rise in urbanization in developing countries, increase in spending on home remodeling, and recovery in the construction sector. A number of players in the balustrade industry are expanding their business to strengthen their foothold in the market.
The key players profiled in the Australia balustrade market report include Absolute Balustrades, Advance Metal Industries (AMIA), Aluline, Aluminum Balustrades, Ammi Balustrades, Balustrading WA, Betta Balustrades, Oxworks, Protector Aluminum, and Ullrich.
Key Findings Of The Study
- The report provides an extensive analysis of the current and emerging trends and dynamics.
- Depending on material type, the glass segment dominated the Australia balustrade market, in terms of revenue in 2019 and is projected to grow at a significant CAGR during the forecast period.
- By Application, the non-residential segment registered highest revenue in 2019.
- Asia-Pacific is projected to register the highest growth rate in the coming years.
- By railing type, the interior railing segment was the highest revenue contributor in 2019 and exterior railing segment is projected to grow at a significant CAGR during the forecast period.
- The key players within the market are profiled in this report, and their strategies are analyzed thoroughly, which help understand the competitive outlook of the Australia balustrade industry.
- The report provides an extensive analysis of the current trends and emerging opportunities of the Australia balustrade market.
- In-depth Australia balustrade market analysis is conducted by constructing estimations for the key segments between 2020 and 2027.
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