The Latest Sprayed Concrete Industry Statistics Explained
The market is expected to grow at a compound annual growth rate (CAGR) of 8.0% from 2021 to 2027.
The statement indicates that the market in question is projected to increase in size at a consistent rate of 8.0% per year from 2021 to 2027. This growth is calculated on a compound annual basis, which means that the percentage increase is applied to the total market size each year, resulting in exponential growth over the time period specified. A CAGR of 8.0% suggests a healthy and sustained expansion of the market, providing an estimate of how quickly the market is expected to grow on average annually throughout the stated period. This statistic is useful for businesses and investors to understand the growth potential of the market and make informed decisions regarding investments, product development, or market expansion strategies.
Underground construction holds the highest revenue share in the market.
The statistic “Underground construction holds the highest revenue share in the market” indicates that among all types of construction activities, underground construction contributes the most to the total revenue generated in the construction industry. This suggests that projects such as subway tunnels, underground parking lots, sewer systems, and underground utilities installations are significant drivers of revenue within the construction sector. The prominence of underground construction in terms of revenue share could be influenced by factors such as the complexity and cost of these projects, the increasing demand for urban infrastructure upgrades, and the specific expertise required for underground construction projects. This statistic highlights the economic significance and market dominance of underground construction activities in the overall construction industry landscape.
In terms of process, the dry mix segment dominated the market with a share of more than 55% in 2019.
The statistic indicates that within the market being analyzed, specifically the dry mix segment, accounted for over 55% of the total market share in 2019. This implies that the dry mix products were the most popular or in-demand within the market during that time period. The dominance of the dry mix segment suggests that consumers may have shown a preference for these types of products over others, leading to a significant portion of the market being captured by this particular segment. Additionally, it may indicate that companies operating in the dry mix sector were successful in attracting and retaining customers, further elevating their market position.
Asia Pacific led the market in terms of revenue in 2019, accounting for more than 35.0% of the total.
The statistic indicates that the Asia Pacific region dominated the market in terms of revenue in 2019, contributing over 35.0% of the total revenue generated. This suggests that the economies in the Asia Pacific region were particularly strong and successful in the given market during that year compared to other regions. The higher revenue share from the Asia Pacific region implies that companies operating within this region were able to capture a significant portion of the market and generate substantial profits. This information is crucial for understanding the market dynamics and opportunities within the Asia Pacific region, highlighting its importance as a key player in driving revenue growth in the specified market in 2019.
By 2027, the steel fiber segment of Sprayed Concrete market is projected to reach USD 11.75 billion.
The statistic indicates that the steel fiber segment of the Sprayed Concrete market is expected to grow significantly and reach a value of USD 11.75 billion by the year 2027. This projection suggests a strong outlook for the steel fiber segment within the Sprayed Concrete market, indicating potential market expansion and increased demand for steel fiber in construction and infrastructure projects utilizing sprayed concrete applications. Factors driving this growth may include the benefits of steel fibers in enhancing the strength, durability, and performance of sprayed concrete structures, as well as increasing use of sprayed concrete in various construction projects worldwide.
The major companies operating in the market have integrated operations across the value chain from raw material supply to end-use industries.
This statistic suggests that the key players in the market have developed comprehensive business strategies that involve controlling and managing various stages of production and distribution. By integrating operations across the entire value chain, these companies are able to streamline processes, reduce costs, and ensure a consistent supply of raw materials for their end-use industries. This approach allows them to have a competitive advantage by optimizing efficiency and quality control throughout the production process. Ultimately, it indicates a level of vertical integration that can help these companies maintain a strong market position and adapt to changing market conditions more effectively.
Europe presents significant opportunities for market growth owing to the region’s mature construction industry.
The statistic suggests that Europe’s construction industry is well-developed and established, creating favorable conditions for market expansion and growth within the region. The maturity of the construction industry implies a stable and advanced market environment with established infrastructure, skilled labor force, and market demand. This presents significant opportunities for businesses to thrive and expand within the European market, taking advantage of the existing industry framework and potential for continued growth and development. Overall, the statistic highlights Europe as a promising market destination for companies looking to capitalize on the opportunities presented by the region’s mature construction industry.
The transportation sector held a significant share in terms of application segmentation in 2019.
This statistic indicates that in the year 2019, the transportation sector was a major contributor to the market based on how the products or services are being used. The transportation sector likely accounted for a notable portion of the overall market activity, suggesting that a significant number of products or services were being utilized within this sector. This information is crucial for understanding the market dynamics and trends, as the dominance of the transportation sector in terms of application segmentation can provide valuable insights into consumer behavior, industry performance, and potential opportunities for growth or investment within this particular sector.
Sprayed Concrete technology usage in the repair and restoration of existing infrastructure will grow by 2027.
The statistic that “Sprayed Concrete technology usage in the repair and restoration of existing infrastructure will grow by 2027” indicates that there is an expected increase in the application of Sprayed Concrete technology for repairing and restoring old infrastructure projects by the year 2027. This growth trend suggests that more construction and maintenance projects will utilize Sprayed Concrete technology due to its efficiency, durability, and cost-effectiveness. This statistic reflects a positive outlook for the construction industry and signals a shift towards innovative and advanced construction methods to address the aging infrastructure challenges worldwide.
Increasing demand from the mining sector fuels the growth of the sprayed concrete market.
The statistic ‘Increasing demand from the mining sector fuels the growth of the sprayed concrete market’ suggests that there is a correlation between the rise in demand for sprayed concrete and the expanding needs of the mining industry. This indicates that mining companies are increasingly utilizing sprayed concrete for applications such as ground support, tunneling, and structural reinforcement. The growing demand from the mining sector is driving the growth of the sprayed concrete market, making it a key contributing factor to the overall expansion and development of this industry. This statistic highlights the importance of understanding market trends and industry dynamics to identify opportunities for growth and strategic decision-making in the sprayed concrete sector.
The civil engineering sector is expected to exhibit lucrative growth over the forecast period.
The statement that the civil engineering sector is expected to exhibit lucrative growth over the forecast period suggests that industry experts anticipate substantial expansion and profitability within the civil engineering field in the foreseeable future. This growth may be driven by factors such as increased demand for infrastructure development, government investments in large-scale projects, advancements in technology improving project efficiency, and an expanding global population requiring infrastructure upgrades. The forecasted lucrative growth implies that opportunities for job creation, revenue generation, and innovation within the civil engineering sector are expected to be abundant, making it an attractive and promising industry for investment and career development.
North America is anticipated to exhibit significant growth over the forecast period.
The statement “North America is anticipated to exhibit significant growth over the forecast period” suggests that the region of North America is expected to experience notable expansion and development over the time frame being considered. This growth could be attributed to various factors such as economic conditions, technological advancements, market trends, or policy changes. It implies that businesses, industries, or markets within North America are projected to see substantial increases in activities, revenues, or other key performance indicators. The anticipation of significant growth in North America implies opportunities for investment, expansion, and economic prosperity in the region.
The increasing usage of sprayed concrete in underground construction will be a significant trend in the forthcoming years.
The statistic indicates that there is a noticeable rise in the application of sprayed concrete in underground construction projects, and this trend is expected to continue and grow in the near future. Sprayed concrete, also known as shotcrete, is an effective construction technique where concrete is sprayed onto structures using air pressure. This method offers several advantages, such as increased speed of construction, cost-effectiveness, and enhanced structural integrity. The increasing usage of sprayed concrete suggests that more construction companies are recognizing its benefits and opting for this technique in their underground projects. This trend points towards a shift in the industry towards more innovative and efficient construction methods, which are likely to become more prevalent in upcoming years.
Rapid urbanization in developing countries is expected to push the demand for sprayed concrete.
The statistic suggests that as urbanization rates increase in developing countries, there is likely to be a corresponding rise in the demand for sprayed concrete. Rapid urbanization typically involves the construction of infrastructure such as buildings, roads, bridges, and tunnels, which in turn fuels the need for durable and efficient construction materials like sprayed concrete. This material is commonly used in challenging construction projects due to its high strength, durability, and speed of application, making it well-suited for the fast-paced development often seen in urbanizing regions. Therefore, the anticipated growth in urban populations and development activities in developing countries is expected to drive the demand for sprayed concrete as a critical component in meeting the construction needs of expanding urban areas.
The Latin America Sprayed Concrete Market is projected to grow with a significant CAGR over the forecast period.
This statistic suggests that the market for sprayed concrete in Latin America is expected to experience notable growth over the specified forecast period. The Compound Annual Growth Rate (CAGR) indicates the average annual growth rate of the market’s value over this timeframe. A significant CAGR implies that the market is likely to expand rapidly year on year, reflecting increasing demand, potential opportunities, and overall positive growth prospects for the sprayed concrete industry in Latin America. This forecast could be influenced by various factors such as infrastructure development projects, urbanization trends, technological advancements, and construction activities in the region.
Factors such as the growing popularity of low-cost housing and increasing industrialization are propelling the market growth.
The mentioned statistic suggests that the market growth is being driven by various factors, most notably the rising demand for low-cost housing and the rapid pace of industrialization in the industry. The popularity of low-cost housing signifies a trend towards affordable and accessible housing solutions, catering to a broader segment of the population. Simultaneously, increasing industrialization points towards the growth and expansion of industries, indicating a robust economic environment. These factors combined create a conducive market environment that is fueling growth and driving positive momentum in the market.
The Middle East and Africa region is set to grow significantly due to the surge in tunnel construction and mining activities.
The statistic suggests that the Middle East and Africa region is poised for substantial growth, driven by the increase in tunnel construction and mining activities. This growth is likely to be attributed to various factors such as infrastructure development projects, increased demand for minerals and resources, and advancements in technology that enable more efficient and cost-effective mining and tunneling processes. The region’s economic landscape is expected to benefit from the expansion of these industries, creating opportunities for job creation, investment, and overall economic development. As a result, the Middle East and Africa region is projected to experience significant growth in the coming years, thanks to the surge in tunnel construction and mining activities.
Over the forecast period, the global sprayed concrete market is likely to witness an increase in the rate of mergers and acquisitions and a rise in the number of partnerships and collaborations.
The statistic suggests that in the foreseeable future, the global sprayed concrete market is expected to experience a notable uptick in merger and acquisition activities as well as an increase in partnerships and collaborations among industry players. This can be indicative of a growing trend towards consolidation within the market, as companies look to strengthen their positions, expand their product offerings or geographic reach, and capitalize on synergies. Such strategic moves may foster innovation, resource sharing, and market growth, ultimately benefiting the industry as a whole by fostering a more competitive and dynamic landscape.
The non-metallic segment is growing rapidly in the market due to its superior properties like lower costs, better impact resistance, and enhanced flexural strength.
The statistic indicates that the non-metallic segment of the market is experiencing significant growth, attributed to its advantageous properties compared to metallic materials. Specifically, non-metallic materials are preferred for their lower costs, improved impact resistance, and enhanced flexural strength, making them attractive choices for various applications. This trend underscores a shift towards the adoption of non-metallic materials in the market, driven by their performance benefits and potential cost savings. As a result, companies may be increasingly turning to non-metallic options to meet their product requirements and gain a competitive edge in the industry.
References
0. – https://www.www.grandviewresearch.com
1. – https://www.www.globenewswire.com
2. – https://www.market.us
3. – https://www.www.technavio.com
4. – https://www.www.polarismarketresearch.com
