Balcony Construction Market Trends and Forecast
The future of the global balcony construction market looks promising with opportunities in the residential, commercial, and municipal markets. The global balcony construction market is expected to grow with a CAGR of 5.3% from 2024 to 2030. The major drivers for this market are increasing focus on outdoor living spaces, growing preference for modern and aesthetically pleasing balcony designs, and rising popularity of luxury homes.
• Lucintel forecasts that design is expected to witness the highest growth over the forecast period.
• Within this market, residential is expected to witness the highest growth.
• APAC is expected to witness the highest growth over the forecast period.
Country Wise Outlook for the Balcony Construction Market
• United States: In the United States, companies like Trex Company and AZEK Building Products are leading initiatives in balcony construction materials. Trex Company has introduced innovative composite decking materials suitable for balcony applications, focusing on durability and sustainability. AZEK Building Products has expanded its product line to include balcony railing systems with customizable designs and enhanced safety features. The U.S. government supports construction industry standards through agencies like the National Institute of Building Sciences (NIBS), which promotes safe and efficient building practices, including balcony construction.
• India: IndiaÄX%$%Xs balcony construction market is witnessing growth with initiatives from companies like Godrej Construction and Hindustan Prefab Limited (HPL). Godrej Construction has introduced prefabricated balcony solutions that accelerate construction timelines and enhance quality control. HPL focuses on sustainable balcony construction materials and methods, aligning with IndiaÄX%$%Xs Smart Cities Mission and Green Building Council initiatives. The Indian government promotes affordable housing and urban development through programs like Pradhan Mantri Awas Yojana (PMAY), which includes provisions for balcony construction in residential projects.
• China: ChinaÄX%$%Xs balcony construction market is driven by companies like China State Construction Engineering Corporation (CSCEC) and China National Building Material Group Corporation (CNBM). CSCEC emphasizes innovative balcony designs in high-rise buildings, integrating safety features and aesthetic elements. CNBM offers a range of balcony construction materials, including lightweight and fire-resistant options, catering to urban development projects across China. The Chinese government supports sustainable urbanization through initiatives like the New Urbanization Plan, which promotes safe and efficient balcony constructions in urban redevelopment projects
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Balcony Construction Market by Segment
The study includes a forecast for the global balcony construction market by type, application, and region.
Balcony Construction Market by Type [Value from 2018 to 2030]:
• Design
• Build
• Installation
Balcony Construction Market by Application [Value from 2018 to 2030]:
• Residential
• Commercial
• Municipal
• Others
Balcony Construction Market by Region [Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Balcony Construction Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies balcony construction companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the balcony construction companies profiled in this report include-
• Sunrock Balconies
• Neaco
• Alumistr
• Balconies South Wales
• Ewell Construction
• Sapphire
• MPR Metal Design
Recent Development in the Balcony Construction Market
• Trex Company : Trex Company has introduced advanced composite decking materials specifically designed for balcony construction. These materials combine recycled wood fibers and plastic to create durable, low-maintenance decking options. TrexÄX%$%Xs initiative focuses on offering sustainable solutions that withstand weathering and enhance the aesthetics of balconies, catering to residential and commercial projects alike.
• Hindustan Prefab Limited (HPL) : HPL has launched prefabricated balcony systems aimed at accelerating construction timelines and improving quality control. These systems include pre-engineered components that are manufactured off-site and assembled on-site, reducing labor costs and construction waste. HPLÄX%$%Xs initiative supports IndiaÄX%$%Xs initiatives for affordable housing and urban development by providing efficient balcony solutions for residential complexes and commercial buildings.
• Schöck Bauteile GmbH : Schöck Bauteile GmbH specializes in thermal insulation solutions for balconies to improve energy efficiency and prevent thermal bridging. Their products include thermal break elements that minimize heat loss and condensation risk, complying with stringent German building regulations and European energy efficiency standards. SchöckÄX%$%Xs initiative aims to enhance comfort and sustainability in balcony constructions across Europe, focusing on reducing environmental impact and operational costs.
• China State Construction Engineering Corporation (CSCEC) : CSCEC has developed innovative balcony designs for high-rise buildings, incorporating advanced materials and safety features. These designs prioritize both functionality and aesthetics, enhancing the overall appeal and safety of balconies in urban development projects across China. CSCECÄX%$%Xs initiative aligns with ChinaÄX%$%Xs urbanization goals and building standards, promoting sustainable and modern architectural solutions for residential and commercial properties
Features of the Global Balcony Construction Market
Market Size Estimates: Balcony construction market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Balcony construction market size by type, application, and region in terms of value ($B).
Regional Analysis: Balcony construction market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the balcony construction market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the balcony construction market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the growth forecast for balcony construction market?
Answer: The global balcony construction market is expected to grow with a CAGR of 5.3% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the balcony construction market?
Answer: The major drivers for this market are increasing focus on outdoor living spaces, growing preference for modern and aesthetically pleasing balcony designs, and rising popularity of luxury homes.
Q3. What are the major segments for balcony construction market?
Answer: The future of the balcony construction market looks promising with opportunities in the residential, commercial, and municipal markets.
Q4. Who are the key balcony construction market companies?
Answer: Some of the key balcony construction companies are as follows:
• Sunrock Balconies
• Neaco
• Alumistr
• Balconies South Wales
• Ewell Construction
• Sapphire
• MPR Metal Design
Q5. Which balcony construction market segment will be the largest in future?
Answer: Lucintel forecasts that design is expected to witness the highest growth over the forecast period.
Q6. In balcony construction market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness the highest growth over the forecast period.
Q7. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the balcony construction market by type (design, build, and installation), application (residential, commercial, municipal, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
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