Cable Railing System Market Size, Share, Growth and Industry Analysis by Type (Stainless Steel, Aluminum, and Others) By Application (Commercial, Industrial, and Others), Regional Forecast To 2031

Updated On: 08 April 2024

Cable Railing System Market REPORT OVERVIEW

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The global cable railing system market size was USD 150 million in 2022 and is projected to touch USD 200.84 million by 2031, exhibiting a CAGR of 3.3% during the forecast period.

Cable railings, also known as cable railing systems or wire rope railings, are used as an alternate for the traditional, ancient wood and metal railings. These cable railings are much more affordable as compared to the others. Precisely these are used as guard or hand rails, substituting mesh, infill, glass and spindles.

Cable railings are made up of strong, sustainable and durable materials. Another important advantage of using these cables is that they can very effectively compliment a variety of properties. Increasing demand for various types of cables across residential and commercial applications will propel the market forward in the forthcoming years.

COVID-19 impact: Considerable Decline in Construction Activity Due To Lockdowns Deteriorated Market Growth

As the COVID-19 pandemic hit the world, all major industries were affected, including the construction sector. As construction activities slowed down during the lockdown period, cable railing system market growth was negatively impacted. The sales decreased drastically, bringing down the market share. As the cable railings are an integral component of the construction industry, the market also suffered considerably.

Post the COVID-19 pandemic, the market recovered significantly owing to the revival of the construction sector and development of various new infrastructures and commercial buildings. Ever since then there has been a boom in the market and the market is expected to record strong gains in the next few years.

LATEST TRENDS

"Growing Use of Modular Support Systems in Cable Railings to Boost Market Growth"

The modular support system is seen as an advanced fixation solution for the construction industry that is changing globally. It has advanced features and safety installations that make it better. The cable railings are utilized for both construction of infrastructures and in the railway industry. Modular support systems are based on cable combinations and conduits of different sizes which can rotate. They are also enabled to move within the system which reduces any kind of damage that can be caused due to the torsional force.  

Apart from this, the cable railing systems are characterized with lightweight, extreme flexibility as well as high durability and resistance. Different techniques can also be used to fix them. Growing implementation of modular support systems in cable railings to support advanced railing applications will positively influence the market growth during the forecast period.

Cable Railing System Market SEGMENTATION

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• By Type Analysis

The cable railing market is divided on the basis of material as follows:

Stainless steel, aluminum, and others. The stainless steel segment is projected to hold the dominant market share through 2031.

• By Application Analysis

Market segmentation based on application is as follows:

Commercial and residential. The commercial segment will dominate the market share over 2023-2031.

DRIVING FACTORS

"Increasing Investments in Construction and Growing Urbanization to Propel Market Growth"

In countries such as China, India, Africa and Latin America, there has been rapid urbanization and globalization in the recent years. With urbanization, there has been an increase in the urban population. Urbanization is creating new opportunities for the construction and transportation industries, which creates robust demand for the cable railing systems.

The demand for railways and constructions along with the advanced features of the cable railing systems are a major factor augmenting the cable railing system market share.

"Improvised Features of Cable Railing Systems to Increase Product Demand "

Higher curb appeal and resale value, corrosion resistance, unobstructed view, supreme structural support, minimal requirement for maintenance, and increased durability are some advanced features to name a few. Cable railings are much more convenient compared to the traditional wooden and copper railings and are very extensively used in the recent times. This provides a competitive edge to the cable railing system market. There are many other new features which are being introduced into these systems, which is expanding their application potential in new areas.

RESTRAINING FACTOR

"Fluctuating Market Prices of Raw Materials to Limit Market Growth"

The basic raw materials which are needed for the manufacture of these cables are plastic, rubber, and PVC grains. An increase in the price of these raw materials has a direct impact on the cable railing system market growth.

The raw materials mentioned above have experienced a huge rise in their prices after the COVID-19 pandemic, especially when all the countries across the globe started to reopen their economies. During the COVID-19 pandemic, there was a dip in the prices of these raw materials, especially copper. However, after the pandemic, the prices have increased to a great extent. The uncertainty in the prices of the raw materials used to build these cables has been a restraining factor for the cable railing system growth.

Cable Railing System Market Regional Insights

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The market for cable railing systems is analyzed across five major regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

North America is projected to dominate the market in the next few years. Growth in this region is primarily driven by growing expenditure in the construction sector, mainly for renovation and refurbishment purposes. Increased spending on infrastructure development along with continuous technological advancements and introduction of new products in the market will augment the regional growth.

It is observed that India and China are making huge investments in this market in order to improve their transportation system and infrastructure. Due to these factors, Asia Pacific is anticipated to be the second-leading region in the market during the forecast duration. Rapid urbanization and industrial development will strengthen the regional outlook.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.

List of Market Players Profiled

• Viewrail (U.S.)
• Feeney (Canada)
• Atlantis Rail Systems (U.S.)
• Jakob Rope Systems (U.S.)
• The Wagner Companies (U.S.)
• Stainless Cable & Railing (U.S.)
• Vista Railing Systems (Canada)
• HDI Railing Systems (Columbia)
• S3i Group (U.S.)
• Viva Railings (India)
• Keuka Studios (Germany)
• RailFX (U.S.)
• Key-Link Fencing & Railing (U.S.)

Report Coverage

The report provides an insight into the market for cable railings from both the demand and supply sides. Further, it also provides information on the impact of COVID-19 on the market, the driving and the restraining factors along with the regional insights. Many other important factors such as the latest trends and the key industry players are also given. Market dynamic forces during the forecast period have also been discussed for the better understanding of the cable railing market. An analysis of the market’s growth has also been covered.