Straw Construction System Market Synopsis

Straw Construction System Market Size Was Valued at USD 812.34 Million in 2023 and is Projected to Reach USD 1522.6 Million by 2032, Growing at a CAGR of 7.23 % From 2024-2032.

The market for straw construction systems is growing as sustainable building practices gain traction on a global scale. This market focuses on the use of straw bales and other straw-based materials in construction to create eco-friendly, energy-efficient buildings. Straw construction offers benefits such as excellent insulation properties, reduced environmental impact, and cost-effectiveness compared to traditional building materials. The growing awareness of climate change and the need for greener construction solutions are driving interest in straw-based building methods. Additionally, advancements in straw processing and construction techniques are improving the durability and versatility of straw structures. As regulations and incentives for sustainable construction strengthen, the straw construction system market is poised to expand, offering an innovative alternative in the quest for more sustainable and efficient building practices.

  • With the global adoption of sustainable building practices, the straw construction system market is experiencing an increase in interest. Straw bale construction, also referred to as straw construction, is a renewable and environmentally benign alternative to conventional construction methods that use straw bales as the primary building material. The minimal environmental impact, cost-effectiveness, and thermal insulation properties of this system have earned it recognition.
  • Builders and architects are implementing it in a growing number of residential and commercial projects as they strive to reduce their carbon footprints and utilize green building certification options. The market capitalizes on the increasing recognition of the necessity of energy-efficient buildings and sustainable architecture.
  • The market for straw construction systems benefits from its environmental advantages as well as the growing regulatory support for green building practices and advancements in building techniques.
  • The development of new methods for integrating straw bundles with modern construction materials and technologies improves the structural integrity and durability of the system. As sustainability becomes a primary focus in the construction industry, we expect innovations in building practices and an increasing demand for eco-friendly housing solutions to fuel the straw construction system market.

Straw Construction System Market Trend Analysis

Increased Adoption of Sustainable Building Practices

  • The straw construction system market is experiencing a substantial impact because of the growing popularity of sustainable building practices as an environmentally favourable alternative in the construction industry. Utilizing agricultural by-products, such as straw bales, as the primary building material, straw construction provides advantages such as improved insulation, reduced environmental impact, and cost efficiency.
  • As awareness of the importance of reducing carbon footprints and utilizing renewable resources grows, more builders and developers are incorporating straw construction into their projects. This change is consistent with the global trend of sustainable development and green building practices, which in turn stimulates the market's expansion.
  • Furthermore, improvements in straw construction techniques and improved building codes are enhancing the feasibility and acceptance of this approach. Innovations that address past limitations, like structural integrity and durability, facilitate the integration of straw-based systems into mainstream construction.
  • The straw construction system market is on the brink of expansion as sustainable practices become more prevalent and regulatory support increases, reflecting a broader trend toward environmentally responsible building solutions.

Integration with Modern Building Technologies

  • The integration of modern building technologies with straw construction systems is transforming the sustainable construction market. Advancements in modern building technologies, including smart sensors, automated controls, and advanced insulation materials, have significantly benefited straw construction, which is renowned for its energy-efficient and eco-friendly properties. These enhancing energy efficiency, interior air quality, and overall building performance, these technologies improve the performance and durability of straw-based structures. When integrated with contemporary technologies, the precise monitoring and control of environmental conditions facilitate the optimization of comfort and sustainability in straw buildings.
  • Moreover, the implementation of advanced construction techniques and digital modeling further optimizes the construction process and minimizes waste. The straw construction system market is on the brink of expansion as the demand for sustainable building solutions and awareness of environmental issues continue to rise. The synergy between traditional straw construction methods and contemporary technological advancements provides a compelling solution for eco-friendly construction, fueling innovation and adoption in the building industry.

Straw Construction System Market Segment Analysis:

Straw Construction System Market Segmented on the basis of By Types, and Application.

By Type, Load-Bearing Straw Bale Systems segment is expected to dominate the market during the forecast period

  • The market for straw construction systems encompasses a variety of building methodologies that use straw as a primary material for sustainable and eco-friendly construction. Load-bearing straw bale systems use straw bales as the primary structural element, providing excellent insulation and structural support. Straw-clay construction systems combine straw with clay to create a composite material that enhances durability and thermal performance.
  • Straw panel construction systems involve prefabricating panels made of straw for quicker and more efficient assembly on-site, while straw-fiberboard systems use straw combined with fiberboard to offer improved structural integrity and insulation properties.
  • The market for these systems is driven by growing demand for sustainable building practices and a desire to reduce environmental impact. As awareness of eco-friendly construction materials grows, these straw-based systems are gaining traction due to their low carbon footprint, energy efficiency, and affordability.
  • The diverse applications of these systems in residential and commercial projects underscore their potential to revolutionize the construction industry by offering innovative, green alternatives to traditional building materials.

By Application, Public Infrastructure segment held the largest share in 2024

  • A variety of applications are increasingly utilizing the straw construction system market due to its cost-effective and sustainable advantages. Straw construction provides exceptional insulation properties in residential buildings, which enhances energy efficiency and decreases heating and cooling expenses. It is a popular option for sustainable housing projects due to its affordability and eco-friendly nature, which attracts homeowners.
  • Straw construction is also advantageous for commercial buildings, as it facilitates green building certifications and addresses the increasing demand for environmentally conscious building practices. Furthermore, the material's inherent insulation properties enhance the level of energy efficiency in commercial environments.
  • Public infrastructure projects are utilizing straw construction due to its sustainability and minimal environmental impact, aligning with global initiatives to reduce carbon footprints.
  • Straw construction is an environmentally beneficial alternative to conventional building materials that is well-suited to the holistic, green living principles of eco-villages. We anticipate an expansion of the straw construction system market, offering innovative solutions for residential, commercial, and public infrastructure applications, as awareness of sustainable building practices grows.

Straw Construction System Market Regional Insights:

Asia Pacific is Expected to Dominate the Market Over the Forecast period

  • During the forecast period, we expect Asia Pacific to dominate the straw construction system market. This is a result of the growing adoption of eco-friendly construction materials and awareness of sustainable building practices. The region's accelerated industrialization and urbanization have resulted in a greater emphasis on green building solutions, and straw construction systems are a viable method of reducing carbon footprints and improving energy efficiency. Government initiatives and incentives that promote sustainable development are propelling China, Japan, and India to the forefront of this trend.
  • The straw construction system market in the Asia Pacific region is also benefiting from advancements in building technology and materials, which have improved the performance and durability of straw-based structures. Straw construction systems are gaining popularity due to their low environmental impact and thermal insulation properties, which are in high demand as affordable and sustainable housing solutions continue to increase. The recent increase in investment in green building technologies and ongoing innovations position Asia Pacific to become a significant participant in the expanding straw construction market.

Active Key Players in the Straw Construction System Market

  • EcoCocon (Poland)
  • Agile Property & Homes Ltd (United Kingdom)
  • Ekopanely Boards (Czech Republic)
  • Ortech Industries (United States)
  • ISO-STROH (Germany)
  • NIDUS Home (United States)
  • StrawSIPS (United Kingdom)
  • Ilanga LLC (South Africa)
  • Spacebale (United Kingdom)
  • Others

Global Straw Construction System Market

Base Year:

2023

Forecast Period:

2024-2032

Historical Data:

2017 to 2023

Market Size in 2023:

USD 812.34 Mn.

Forecast Period 2024-32 CAGR:

7.23%

Market Size in 2032:

USD 1522.6 Mn.

Segments Covered:

By Type

  • Load-Bearing Straw Bale Systems
  • Straw-Clay Construction Systems
  • Straw Panel Construction Systems
  • Straw-Fiberboard Systems

By Application

  • Residential Buildings
  • Commercial Buildings
  • Public Infrastructure
  • Eco-Villages
  • Others

By Region

  • North America (U.S., Canada, Mexico)
  • Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
  • Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
  • Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New-Zealand, Rest of APAC)
  • Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
  • South America (Brazil, Argentina, Rest of SA)

Key Market Drivers:

  • The increasing demand for sustainable and energy-efficient building solutions is driving growth in the straw construction system market.

Key Market Restraints:

  • Limited awareness and higher initial costs compared to conventional building materials can hinder the adoption of straw construction systems.

Key Opportunities:

  • Technological advancements in straw processing and growing support for green building regulations present significant opportunities for expanding the straw construction system market.

Companies Covered in the report:

  • EcoCocon (Poland), Agile Property & Homes Ltd (United Kingdom), Ekopanely Boards (Czech Republic), Ortech Industries (United States), ISO-STROH (Germany), NIDUS Home (United States), StrawSIPS (United Kingdom), Ilanga LLC (South Africa), Spacebale (United Kingdom), Others

Chapter 1: Introduction
 1.1 Scope and Coverage

Chapter 2:Executive Summary

Chapter 3: Market Landscape
 3.1 Market Dynamics
  3.1.1 Drivers
  3.1.2 Restraints
  3.1.3 Opportunities
  3.1.4 Challenges
 3.2 Market Trend Analysis
 3.3 PESTLE Analysis
 3.4 Porter's Five Forces Analysis
 3.5 Industry Value Chain Analysis
 3.6 Ecosystem
 3.7 Regulatory Landscape
 3.8 Price Trend Analysis
 3.9 Patent Analysis
 3.10 Technology Evolution
 3.11 Investment Pockets
 3.12 Import-Export Analysis

Chapter 4: Straw Construction System Market by Types
 4.1 Straw Construction System Market Snapshot and Growth Engine
 4.2 Straw Construction System Market Overview
 4.3 Load-Bearing Straw Bale Systems
  4.3.1 Introduction and Market Overview
  4.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.3.3 Key Market Trends, Growth Factors and Opportunities
  4.3.4 Load-Bearing Straw Bale Systems: Geographic Segmentation Analysis
 4.4 Straw-Clay Construction Systems
  4.4.1 Introduction and Market Overview
  4.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.4.3 Key Market Trends, Growth Factors and Opportunities
  4.4.4 Straw-Clay Construction Systems: Geographic Segmentation Analysis
 4.5 Straw Panel Construction Systems
  4.5.1 Introduction and Market Overview
  4.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.5.3 Key Market Trends, Growth Factors and Opportunities
  4.5.4 Straw Panel Construction Systems: Geographic Segmentation Analysis
 4.6 Straw-Fibreboard Systems
  4.6.1 Introduction and Market Overview
  4.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.6.3 Key Market Trends, Growth Factors and Opportunities
  4.6.4 Straw-Fibreboard Systems: Geographic Segmentation Analysis

Chapter 5: Straw Construction System Market by Application
 5.1 Straw Construction System Market Snapshot and Growth Engine
 5.2 Straw Construction System Market Overview
 5.3 Residential Buildings
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 Residential Buildings: Geographic Segmentation Analysis
 5.4 Commercial Buildings
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4 Commercial Buildings: Geographic Segmentation Analysis
 5.5 Public Infrastructure
  5.5.1 Introduction and Market Overview
  5.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.5.3 Key Market Trends, Growth Factors and Opportunities
  5.5.4 Public Infrastructure: Geographic Segmentation Analysis
 5.6 Eco-Villages
  5.6.1 Introduction and Market Overview
  5.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.6.3 Key Market Trends, Growth Factors and Opportunities
  5.6.4 Eco-Villages: Geographic Segmentation Analysis
 5.7 Others
  5.7.1 Introduction and Market Overview
  5.7.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.7.3 Key Market Trends, Growth Factors and Opportunities
  5.7.4 Others: Geographic Segmentation Analysis

Chapter 6: Company Profiles and Competitive Analysis
 6.1 Competitive Landscape
  6.1.1 Competitive Benchmarking
  6.1.2 Straw Construction System Market Share by Manufacturer (2023)
  6.1.3 Industry BCG Matrix
  6.1.4 Heat Map Analysis
  6.1.5 Mergers and Acquisitions
  
 6.2 ECOCOCON (POLAND)
  6.2.1 Company Overview
  6.2.2 Key Executives
  6.2.3 Company Snapshot
  6.2.4 Role of the Company in the Market
  6.2.5 Sustainability and Social Responsibility
  6.2.6 Operating Business Segments
  6.2.7 Product Portfolio
  6.2.8 Business Performance
  6.2.9 Key Strategic Moves and Recent Developments
  6.2.10 SWOT Analysis
 6.3 AGILE PROPERTY & HOMES LTD (UNITED KINGDOM)
 6.4 EKOPANELY BOARDS (CZECH REPUBLIC)
 6.5 ORTECH INDUSTRIES (UNITED STATES)
 6.6 ISO-STROH (GERMANY)
 6.7 NIDUS HOME (UNITED STATES)
 6.8 STRAWSIPS (UNITED KINGDOM)
 6.9 ILANGA LLC (SOUTH AFRICA)
 6.10 SPACEBALE (UNITED KINGDOM)
 6.11 OTHERS

Chapter 7: Global Straw Construction System Market By Region
 7.1 Overview
 7.2. North America Straw Construction System Market
  7.2.1 Key Market Trends, Growth Factors and Opportunities
  7.2.2 Top Key Companies
  7.2.3 Historic and Forecasted Market Size by Segments
  7.2.4 Historic and Forecasted Market Size By Types
   7.2.4.1 Load-Bearing Straw Bale Systems
   7.2.4.2 Straw-Clay Construction Systems
   7.2.4.3 Straw Panel Construction Systems
   7.2.4.4 Straw-Fibreboard Systems
  7.2.5 Historic and Forecasted Market Size By Application
   7.2.5.1 Residential Buildings
   7.2.5.2 Commercial Buildings
   7.2.5.3 Public Infrastructure
   7.2.5.4 Eco-Villages
   7.2.5.5 Others
  7.2.6 Historic and Forecast Market Size by Country
   7.2.6.1 US
   7.2.6.2 Canada
   7.2.6.3 Mexico
 7.3. Eastern Europe Straw Construction System Market
  7.3.1 Key Market Trends, Growth Factors and Opportunities
  7.3.2 Top Key Companies
  7.3.3 Historic and Forecasted Market Size by Segments
  7.3.4 Historic and Forecasted Market Size By Types
   7.3.4.1 Load-Bearing Straw Bale Systems
   7.3.4.2 Straw-Clay Construction Systems
   7.3.4.3 Straw Panel Construction Systems
   7.3.4.4 Straw-Fibreboard Systems
  7.3.5 Historic and Forecasted Market Size By Application
   7.3.5.1 Residential Buildings
   7.3.5.2 Commercial Buildings
   7.3.5.3 Public Infrastructure
   7.3.5.4 Eco-Villages
   7.3.5.5 Others
  7.3.6 Historic and Forecast Market Size by Country
   7.3.6.1 Bulgaria
   7.3.6.2 The Czech Republic
   7.3.6.3 Hungary
   7.3.6.4 Poland
   7.3.6.5 Romania
   7.3.6.6 Rest of Eastern Europe
 7.4. Western Europe Straw Construction System Market
  7.4.1 Key Market Trends, Growth Factors and Opportunities
  7.4.2 Top Key Companies
  7.4.3 Historic and Forecasted Market Size by Segments
  7.4.4 Historic and Forecasted Market Size By Types
   7.4.4.1 Load-Bearing Straw Bale Systems
   7.4.4.2 Straw-Clay Construction Systems
   7.4.4.3 Straw Panel Construction Systems
   7.4.4.4 Straw-Fibreboard Systems
  7.4.5 Historic and Forecasted Market Size By Application
   7.4.5.1 Residential Buildings
   7.4.5.2 Commercial Buildings
   7.4.5.3 Public Infrastructure
   7.4.5.4 Eco-Villages
   7.4.5.5 Others
  7.4.6 Historic and Forecast Market Size by Country
   7.4.6.1 Germany
   7.4.6.2 UK
   7.4.6.3 France
   7.4.6.4 Netherlands
   7.4.6.5 Italy
   7.4.6.6 Russia
   7.4.6.7 Spain
   7.4.6.8 Rest of Western Europe
 7.5. Asia Pacific Straw Construction System Market
  7.5.1 Key Market Trends, Growth Factors and Opportunities
  7.5.2 Top Key Companies
  7.5.3 Historic and Forecasted Market Size by Segments
  7.5.4 Historic and Forecasted Market Size By Types
   7.5.4.1 Load-Bearing Straw Bale Systems
   7.5.4.2 Straw-Clay Construction Systems
   7.5.4.3 Straw Panel Construction Systems
   7.5.4.4 Straw-Fibreboard Systems
  7.5.5 Historic and Forecasted Market Size By Application
   7.5.5.1 Residential Buildings
   7.5.5.2 Commercial Buildings
   7.5.5.3 Public Infrastructure
   7.5.5.4 Eco-Villages
   7.5.5.5 Others
  7.5.6 Historic and Forecast Market Size by Country
   7.5.6.1 China
   7.5.6.2 India
   7.5.6.3 Japan
   7.5.6.4 South Korea
   7.5.6.5 Malaysia
   7.5.6.6 Thailand
   7.5.6.7 Vietnam
   7.5.6.8 The Philippines
   7.5.6.9 Australia
   7.5.6.10 New Zealand
   7.5.6.11 Rest of APAC
 7.6. Middle East & Africa Straw Construction System Market
  7.6.1 Key Market Trends, Growth Factors and Opportunities
  7.6.2 Top Key Companies
  7.6.3 Historic and Forecasted Market Size by Segments
  7.6.4 Historic and Forecasted Market Size By Types
   7.6.4.1 Load-Bearing Straw Bale Systems
   7.6.4.2 Straw-Clay Construction Systems
   7.6.4.3 Straw Panel Construction Systems
   7.6.4.4 Straw-Fibreboard Systems
  7.6.5 Historic and Forecasted Market Size By Application
   7.6.5.1 Residential Buildings
   7.6.5.2 Commercial Buildings
   7.6.5.3 Public Infrastructure
   7.6.5.4 Eco-Villages
   7.6.5.5 Others
  7.6.6 Historic and Forecast Market Size by Country
   7.6.6.1 Turkey
   7.6.6.2 Bahrain
   7.6.6.3 Kuwait
   7.6.6.4 Saudi Arabia
   7.6.6.5 Qatar
   7.6.6.6 UAE
   7.6.6.7 Israel
   7.6.6.8 South Africa
 7.7. South America Straw Construction System Market
  7.7.1 Key Market Trends, Growth Factors and Opportunities
  7.7.2 Top Key Companies
  7.7.3 Historic and Forecasted Market Size by Segments
  7.7.4 Historic and Forecasted Market Size By Types
   7.7.4.1 Load-Bearing Straw Bale Systems
   7.7.4.2 Straw-Clay Construction Systems
   7.7.4.3 Straw Panel Construction Systems
   7.7.4.4 Straw-Fibreboard Systems
  7.7.5 Historic and Forecasted Market Size By Application
   7.7.5.1 Residential Buildings
   7.7.5.2 Commercial Buildings
   7.7.5.3 Public Infrastructure
   7.7.5.4 Eco-Villages
   7.7.5.5 Others
  7.7.6 Historic and Forecast Market Size by Country
   7.7.6.1 Brazil
   7.7.6.2 Argentina
   7.7.6.3 Rest of SA

Chapter 8 Analyst Viewpoint and Conclusion
8.1 Recommendations and Concluding Analysis
8.2 Potential Market Strategies

Chapter 9 Research Methodology
9.1 Research Process
9.2 Primary Research
9.3 Secondary Research
 

Global Straw Construction System Market

Base Year:

2023

Forecast Period:

2024-2032

Historical Data:

2017 to 2023

Market Size in 2023:

USD 812.34 Mn.

Forecast Period 2024-32 CAGR:

7.23%

Market Size in 2032:

USD 1522.6 Mn.

Segments Covered:

By Type

  • Load-Bearing Straw Bale Systems
  • Straw-Clay Construction Systems
  • Straw Panel Construction Systems
  • Straw-Fiberboard Systems

By Application

  • Residential Buildings
  • Commercial Buildings
  • Public Infrastructure
  • Eco-Villages
  • Others

By Region

  • North America (U.S., Canada, Mexico)
  • Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
  • Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
  • Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New-Zealand, Rest of APAC)
  • Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
  • South America (Brazil, Argentina, Rest of SA)

Key Market Drivers:

  • The increasing demand for sustainable and energy-efficient building solutions is driving growth in the straw construction system market.

Key Market Restraints:

  • Limited awareness and higher initial costs compared to conventional building materials can hinder the adoption of straw construction systems.

Key Opportunities:

  • Technological advancements in straw processing and growing support for green building regulations present significant opportunities for expanding the straw construction system market.

Companies Covered in the report:

  • EcoCocon (Poland), Agile Property & Homes Ltd (United Kingdom), Ekopanely Boards (Czech Republic), Ortech Industries (United States), ISO-STROH (Germany), NIDUS Home (United States), StrawSIPS (United Kingdom), Ilanga LLC (South Africa), Spacebale (United Kingdom), Others
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Frequently Asked Questions :

What would be the forecast period in the Straw Construction System Market research report?

The forecast period in the Straw Construction System Market research report is 2024-2032.

Who are the key players in the Straw Construction System Market?

EcoCocon (Poland), Agile Property & Homes Ltd (United Kingdom), Ekopanely Boards (Czech Republic), Ortech Industries (United States), ISO-STROH (Germany), NIDUS Home (United States), StrawSIPS (United Kingdom), Ilanga LLC (South Africa), Spacebale (United Kingdom), Others

What are the segments of the Straw Construction System Market?

The Straw Construction System Market is segmented into By Types(Load-Bearing Straw Bale Systems, Straw-Clay Construction Systems, Straw Panel Construction Systems, Straw-Fiberboard Systems),By Application(Residential Buildings, Commercial Buildings, Public Infrastructure, Eco-Villages , Others). By region, it is analyzed across North America (U.S.; Canada; Mexico), Eastern Europe (Bulgaria; The Czech Republic; Hungary; Poland; Romania; Rest of Eastern Europe), Western Europe (Germany; UK; France; Netherlands; Italy; Russia; Spain; Rest of Western Europe), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).

What is the Straw Construction System Market?

Straw construction systems refer to building techniques that utilize straw bales as a primary material for constructing walls, insulation, and structural elements in buildings. This eco-friendly approach leverages the natural insulating properties of straw, providing effective thermal and acoustic performance while reducing environmental impact. Straw bales are typically used in combination with other materials to create durable, energy-efficient structures that are both cost-effective and sustainable. The construction method involves compacting straw bales and securing them in place with plaster or other finishes, creating walls that offer excellent insulation and contribute to a reduced carbon footprint. As a renewable and low-impact resource, straw is increasingly being adopted in green building practices to promote sustainable development and reduce reliance on conventional, resource-intensive materials.

How big is the Straw Construction System Market?

Straw Construction System Market Size Was Valued at USD 812.34 Million in 2023 and is Projected to Reach USD 1522.6 Million by 2032, Growing at a CAGR of 7.23 % From 2024-2032.