Smart Fleet Management Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Mode of Transportation (Roadways, Marine, Airways, and Railways), By Application (Tracking, ADAS, Optimization, Fuel Cards, and Automatic Vehicle Identification), By Connectivity (Short Range and Long Range), By Operation (Private and Commercial), By Region, By Company and By Geography, For
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Infrastructure | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationSmart Fleet Management Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Mode of Transportation (Roadways, Marine, Airways, and Railways), By Application (Tracking, ADAS, Optimization, Fuel Cards, and Automatic Vehicle Identification), By Connectivity (Short Range and Long Range), By Operation (Private and Commercial), By Region, By Company and By Geography, For
| Forecast Period | 2024-2028 |
| Market Size (2022) | USD 323.67 Billion |
| CAGR (2023-2028) | 8.58% |
| Fastest Growing Segment | Roadways |
| Largest Market | Asia-Pacific |
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Market Overview
The global smart fleet management market size was valued at USD 323.67 billion in 2022 and is expected to expand at a CAGR of 8.58% from 2023 to 2028
The Global Smart Fleet Management market stands at the forefront of technological innovation, reshaping the landscape of transportation and logistics with its transformative potential. Smart Fleet Management, an integration of advanced technologies and data-driven insights, seeks to revolutionize how fleets of vehicles are managed, optimized, and maintained. This dynamic market converges elements of connectivity, data analytics, Internet of Things (IoT), and artificial intelligence to offer a comprehensive suite of solutions that transcend traditional fleet management paradigms.
The foundation of the Smart Fleet Management market is rooted in the urgent need for operational efficiency, cost reduction, and enhanced sustainability in the transportation sector. Fleet operators, spanning diverse industries from logistics and delivery to passenger transportation and construction, are confronted with the challenges of fuel consumption, vehicle maintenance, safety concerns, and regulatory compliance. In response, the market has surged forward, crafting intelligent solutions that leverage real-time data and advanced analytics to address these challenges holistically.
At its core, the Smart Fleet Management market revolves around the concept of connectivity. Vehicles equipped with telematics systems, sensors, GPS technology, and onboard diagnostics devices become nodes in a network, transmitting real-time data to central platforms. This data encompasses a spectrum of information, from vehicle locations and routes to driver behavior and fuel consumption patterns. The convergence of this data with cloud computing and advanced analytics forms the bedrock upon which smart fleet solutions thrive.
Route optimization is one of the cornerstones of this market. Real-time insights into traffic conditions, road closures, and weather patterns enable fleet managers to chart the most efficient routes, reducing travel time, fuel consumption, and carbon emissions. Additionally, predictive maintenance emerges as a transformative aspect. Through sophisticated data analysis, fleet operators can anticipate mechanical issues and maintenance needs, proactively addressing them before they lead to costly breakdowns or operational disruptions. This not only extends the lifespan of vehicles but also minimizes downtime, translating into tangible cost savings and enhanced operational uptime.
Safety remains paramount within the Smart Fleet Management market. Advanced Driver Assistance Systems (ADAS) leverage sensors and AI algorithms to monitor driver behavior and surroundings, issuing alerts for potential collisions, lane deviations, and hazardous conditions. Such safety-focused technologies not only protect drivers and assets but also align with stringent regulatory mandates concerning road safety. Moreover, real-time monitoring allows fleet managers to promptly respond to emergencies, ensuring the safety of both drivers and the public.
The Smart Fleet Management market's impact extends beyond operational efficiency. It's a cornerstone of sustainable transportation. As global concerns regarding carbon emissions and environmental impact intensify, smart solutions offer avenues to reduce fuel consumption, optimize routes, and promote eco-conscious driving behavior. The integration of electric vehicles (EVs) and hybrid technologies further aligns with sustainability goals while mitigating the environmental footprint of fleet operations.
Key Market Drivers
Efficiency Enhancement and Cost Reduction
Efficiency enhancement and cost reduction stand as paramount drivers propelling the global Smart Fleet Management market forward. In an era marked by the pursuit of operational excellence, fleet operators are increasingly turning to smart technologies to streamline processes, optimize routes, and minimize operational costs. Intelligent fleet management solutions provide real-time insights into vehicle performance, driver behavior, and fuel consumption. Armed with this data, fleet managers can identify inefficiencies, implement corrective measures, and make informed decisions that improve overall fleet productivity. Route optimization, for instance, not only reduces fuel consumption and vehicle wear-and-tear but also ensures timely deliveries and improved customer satisfaction. By harnessing smart technologies, fleet operators can achieve significant cost savings, enhance resource allocation, and elevate their competitive edge in an increasingly complex and competitive market landscape.
Safety Advancements and Regulatory Compliance
The growing emphasis on road safety and regulatory compliance serves as a potent driver in the global Smart Fleet Management market. Road accidents, often attributed to driver behavior and vehicle maintenance issues, have driven the adoption of Advanced Driver Assistance Systems (ADAS) and other safety-focused technologies. These technologies include features like lane departure warnings, collision avoidance systems, and real-time monitoring of driver behavior. By deploying these solutions, fleet operators not only safeguard their drivers and assets but also adhere to stringent safety regulations and minimize liabilities. Moreover, regulatory mandates concerning emissions and environmental impact drive the adoption of smart fleet management solutions that enable fuel efficiency optimization and emissions reduction. As governments tighten regulations, fleet operators increasingly turn to intelligent solutions to ensure compliance while contributing to a safer and more sustainable transportation ecosystem.
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Increasing Demand for Real-time Visibility
The increasing demand for real-time visibility into fleet operations stands as a resounding market driver. In an era characterized by the instant accessibility of information, fleet operators seek continuous insights into the status and whereabouts of their vehicles. Smart fleet management solutions provide real-time tracking, enabling fleet managers to monitor vehicle locations, routes, and driver behavior with precision. Real-time visibility enhances operational control, enables proactive decision-making, and fosters better communication with drivers. Fleet managers can respond swiftly to deviations from planned routes, unexpected delays, or emergency situations. This real-time monitoring capability not only boosts operational efficiency but also facilitates transparency and accountability, which are crucial in industries such as logistics and transportation.
Technological Advancements and Connectivity
The rapid pace of technological advancements and the rise of connectivity are instrumental drivers propelling the global Smart Fleet Management market forward. The proliferation of Internet of Things (IoT) devices, improved GPS accuracy, and the expansion of high-speed communication networks enable the seamless integration of smart technologies into fleet operations. Telematics systems, sensors, and onboard diagnostics devices transmit real-time data to central platforms, allowing fleet managers to remotely monitor vehicle performance, identify maintenance needs, and optimize routes. The integration of these technologies with cloud computing and big data analytics opens avenues for predictive maintenance, data-driven decision-making, and performance benchmarking. As smart devices become more affordable and accessible, fleet operators across various industries are capitalizing on these technological advancements to elevate their operational efficiency and maintain a competitive edge.
Sustainability Imperatives and Environmental Concerns
In an era defined by sustainability imperatives and environmental consciousness, the global Smart Fleet Management market is driven by the imperative to reduce carbon footprints and enhance ecological responsibility. The transportation sector is a significant contributor to greenhouse gas emissions, and fleet operators are under increasing pressure to adopt environmentally friendly practices. Smart fleet management solutions play a pivotal role in achieving sustainability goals by optimizing fuel consumption, reducing emissions, and promoting eco-conscious driving behavior. By monitoring driver habits, offering real-time feedback, and providing data-driven insights into fuel-efficient routes, these solutions empower fleet operators to reduce their vehicles' environmental impact. Moreover, the integration of electric vehicles (EVs) and hybrid technologies into fleets aligns with sustainability objectives while offering long-term cost savings through reduced fuel consumption and lower maintenance requirements. As sustainability gains prominence on corporate agendas and regulatory frameworks, the adoption of smart fleet management solutions becomes a strategic imperative for both economic and ecological reasons.
Key Market Challenges
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Integration Complexities and Interoperability
One of the foremost challenges facing the global Smart Fleet Management market is the complexity of integrating diverse technologies and systems across an increasingly connected fleet landscape. As the industry evolves, fleet operators are adopting a wide range of hardware devices, software applications, and communication protocols to gather and analyze data. However, achieving seamless interoperability between these components is not always straightforward. Different vehicles may employ varying telematics systems, GPS devices, and sensors, making it challenging to consolidate data from disparate sources into a unified platform. This fragmentation hampers the comprehensive visibility and real-time insights that smart fleet management promises. Overcoming integration complexities requires standardized protocols, open APIs, and collaborative efforts among technology providers to ensure that fleet operators can harness the full potential of smart solutions without encountering compatibility hurdles.
Data Overload and Meaningful Insights
The exponential growth of data generated by smart fleet management solutions presents a significant challenge in the market. While the collection of extensive data from vehicles, drivers, and various sensors offers opportunities for detailed analysis, it also poses the risk of data overload. Fleet managers often struggle to filter through the immense volumes of data to extract actionable insights. Without effective data analytics tools, the potential benefits of smart fleet management remain untapped. To address this challenge, the industry needs advanced data analytics platforms that can process and transform raw data into meaningful insights. Machine learning and AI-driven algorithms play a crucial role in identifying patterns, predicting maintenance needs, and optimizing operations based on historical and real-time data.
Cybersecurity Vulnerabilities
As smart fleet management systems become more interconnected and reliant on digital technologies, the issue of cybersecurity becomes a pressing challenge. With an increasing number of endpoints, including vehicles, devices, and data storage, the attack surface for potential cyber threats widens. Hackers could exploit vulnerabilities to gain unauthorized access to vehicle systems, compromise sensitive data, or disrupt fleet operations. Ensuring the cybersecurity of smart fleet management solutions requires a comprehensive approach. This includes robust encryption mechanisms, secure communication protocols, regular software updates, and employee training to mitigate risks related to phishing and social engineering attacks. The industry must prioritize cybersecurity measures to build trust among fleet operators and ensure the safety and integrity of fleet data and operations.
High Initial Costs and ROI Justification
While the long-term benefits of smart fleet management solutions are evident, many fleet operators face the challenge of justifying the initial investment. Implementing a comprehensive smart fleet management system involves costs related to hardware, software, integration, training, and ongoing maintenance. Convincing stakeholders to allocate resources to these investments can be challenging, especially for small and medium-sized businesses. Demonstrating a clear Return on Investment (ROI) becomes imperative to secure buy-in. Fleet managers need to showcase how these solutions lead to cost savings through fuel efficiency, reduced maintenance expenses, optimized routes, and enhanced operational productivity. As the industry matures and competition intensifies, vendors must continue to refine their value propositions and demonstrate tangible benefits to potential customers.
Regulatory Compliance and Data Privacy
The global Smart Fleet Management market operates within a landscape of evolving regulations and data privacy concerns. Different regions and countries have varying rules governing data collection, storage, and sharing. Fleet operators must navigate a complex web of legal frameworks to ensure compliance while leveraging the benefits of smart solutions. Moreover, the extensive data collected by smart fleet management systems, including vehicle locations, driver behavior, and maintenance schedules, raise privacy concerns among drivers and employees. Balancing the need for data-driven insights with respecting individual privacy rights is a delicate challenge. The industry must invest in solutions that offer granular control over data sharing and implement strict security measures to safeguard sensitive information.
Key Market Trends
Convergence of IoT and Advanced Analytics
The global Smart Fleet Management market is witnessing a significant trend characterized by the convergence of the Internet of Things (IoT) and advanced analytics. This trend is redefining how fleet operators gather, process, and utilize data from various interconnected devices and sensors embedded in vehicles. The proliferation of IoT technologies enables real-time tracking of vehicles, monitoring of critical parameters such as engine performance, fuel consumption, and driver behavior. This wealth of data, when coupled with advanced analytics and machine learning algorithms, empowers fleet managers with actionable insights. They can optimize routes, predict maintenance needs, and enhance overall operational efficiency. The integration of IoT and analytics elevates fleet management from mere data collection to data-driven decision-making, fostering cost savings, improved productivity, and enhanced customer satisfaction.
Rise of Electric and Autonomous Fleets
The global shift towards sustainability and automation is reshaping the Smart Fleet Management landscape. As concerns about environmental impact and fuel efficiency grow, electric vehicles (EVs) are gaining traction in fleet operations. The integration of EVs introduces a new dimension to fleet management, requiring specialized charging infrastructure and battery monitoring. Additionally, the advancement of autonomous vehicle technology is poised to disrupt traditional fleet management practices. While fully autonomous fleets are still on the horizon, features like driver assistance systems and semi-autonomous capabilities are being incorporated into fleets. Fleet managers need to adapt their strategies to accommodate the unique requirements of electric and autonomous vehicles, including charging logistics, vehicle-to-infrastructure communication, and cybersecurity considerations.
Data Security and Privacy Concerns
With the increasing reliance on data-driven technologies, data security and privacy concerns have become paramount in the Smart Fleet Management market. Fleet operators collect and store vast amounts of sensitive information, ranging from vehicle locations and routes to driver behavior and maintenance schedules. The potential risks associated with data breaches, cyberattacks, and unauthorized access demand robust cybersecurity measures. Ensuring the integrity and confidentiality of data is crucial to maintaining customer trust and compliance with data protection regulations. As the volume of data generated by smart fleets continues to grow, industry players are investing in advanced encryption, authentication protocols, and secure cloud infrastructure to safeguard data assets.
Integration of AI and Predictive Analytics
Artificial Intelligence (AI) and predictive analytics are driving a transformative trend in the global Smart Fleet Management market. AI-powered algorithms analyze historical data to predict maintenance needs, identify potential issues before they escalate, and optimize fleet operations. Predictive maintenance not only reduces downtime but also extends the lifespan of vehicles, resulting in cost savings. AI-driven predictive analytics also enhance route optimization, helping fleets avoid congestion, reduce fuel consumption, and improve delivery timelines. As AI technologies become more sophisticated and accessible, the integration of AI and predictive analytics is poised to become a standard practice in smart fleet operations.
Ecosystem Collaboration and Integration
The Smart Fleet Management market is witnessing a shift towards collaboration and ecosystem integration. Rather than operating in isolation, fleet management solutions are integrating with broader mobility ecosystems. This includes collaboration with telematics providers, vehicle manufacturers, infrastructure developers, and data analytics firms. Such partnerships enable seamless data exchange, interoperability, and holistic solutions that cater to various aspects of transportation and logistics. For instance, integrating fleet management data with smart city infrastructure can lead to efficient traffic management and reduced congestion. Collaborative ecosystems not only enhance the value proposition for fleet operators but also contribute to the broader goal of creating interconnected and efficient mobility networks.
Segmental Insights
Application Insights
Tracking segment
This application resonates deeply in industries where precision and punctuality are paramount, such as logistics, delivery services, and passenger transportation. Real-time tracking enables route optimization, minimizing fuel consumption and reducing carbon footprint. Moreover, tracking fosters accountability by allowing businesses to monitor driver behavior, adherence to schedules, and compliance with safety protocols. In a world increasingly reliant on data-driven insights, the tracking segment offers a comprehensive toolkit to align fleet operations with strategic goals.
Mode of Transportation Insights
Roadways segment
Urbanization, population growth, and the rise of e-commerce have intensified the need for optimized road-based transportation systems. Smart fleet management offers real-time monitoring, route optimization, and predictive maintenance, which are pivotal in reducing traffic congestion, ensuring on-time deliveries, and minimizing fuel consumption. Moreover, safety considerations come to the forefront, as the roadway segment is susceptible to accidents and traffic violations. Smart fleet solutions provide features such as driver behavior monitoring, collision avoidance, and emergency response mechanisms, contributing to safer roads and better public safety.
Regional Insights
Asia-Pacific dominates in the global Smart Fleet Management market in 2022. The Asia-Pacific region is experiencing rapid economic growth and urbanization. As economies expand, demand for efficient transportation systems rises, particularly in densely populated urban areas. Smart fleet management solutions offer a means to optimize transportation operations, reduce congestion, and enhance overall mobility, aligning with the region's urban development needs.
The region is a global hub for manufacturing, trade, and logistics activities. With extensive supply chains and vast transportation networks, the need for effective fleet management becomes critical. Smart fleet solutions enable companies to track and manage their vehicles, reduce operational costs, and improve delivery efficiency, all of which are essential in this thriving logistics landscape.
Asia-Pacific has emerged as a technological powerhouse, fostering innovation and the adoption of advanced solutions. The availability of cutting-edge technologies such as IoT (Internet of Things), telematics, GPS, and real-time data analytics has facilitated the development and deployment of smart fleet management systems. These technologies enable real-time monitoring, predictive maintenance, and data-driven decision-making, enhancing fleet efficiency.
Recent Developments
- In 2022, MiX Telematics launched a new productcalled MiX Vision. This product uses artificial intelligence (AI) and machinelearning (ML) to analyze video footage from vehicles, providing fleet managerswith insights into driver behavior and potential safety risks.
- In 2022, Fleet Complete launched a new productcalled Fleet Complete Insights. This platform uses AI and ML to analyze datafrom vehicles and drivers, providing fleet managers with insights to optimizetheir operations and reduce costs
- In 2021, Omnitracs launched a new product calledSmartDrive SmartIQ Transportation Intelligence Suite. This suite provides fleetmanagers with a comprehensive view of their operations, including safety,compliance, and efficiency metrics.
- In 2020, TomTom Telematics rebranded itself asWebfleet Solutions. The company also launched a new product called WEBFLEETVideo, which combines telematics data with video footage to provide fleetmanagers with a more comprehensive view of their operations.
- In 2021, Zonar Systems launched a new productcalled Zonar MyView. This platform provides drivers with real-time feedback ontheir driving behavior, helping to improve safety and reduce fuel consumption.
Key Market Players
- Robert Bosch GmbH
- Continental Ag
- Denso Corporation
- Harman International Industries Inc.
- Siemens AG
- IBM Corporation
- Sierra Wireless Inc.
- Cisco Systems Inc.
- Calamp Corp.
- Precious Shipping Public Company Ltd.
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Hempcrete Market Size - By Type (Wood, Hempcrete, Rammed Earth), By Construction Phase (New Construction, Retrofit and Renovation), By Function (Structural, Insulation, Plaster and Render), By Application, Distribution Channel & Forecast, 2024 – 2032
Hempcrete Market Size
Hempcrete Market was valued at USD 26.8 billion in 2023 and is anticipated to register a CAGR of over 5% between 2024 and 2032, due to the increasing legalization of industrial hemp. The cannabis sector, which includes hemp, has experienced remarkable growth as governments around the world relaxed restrictions on the cultivation and use of industrial hemp. The increase in the cannabis sector's value reflects the growing consumer interest and market demand for hemp-derived products, including hempcrete. Manufacturers and builders are increasingly turning to hempcrete as a sustainable alternative to traditional construction materials with industrial hemp becoming more accessible and mainstream.
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The hempcrete market is experiencing growth due to the growing demand for eco-friendly building materials. There is a growing consensus among consumers, builders, and policymakers about the need for sustainable construction practices as environmental concerns, such as climate change and resource depletion, become more prominent.
The demand for eco-friendly building materials is driven by evolving market preferences and regulatory mandates. Consumers prioritize health and environmental considerations when choosing building materials, and builders and developers incorporate green building principles into their projects to meet market demand and comply with environmental regulations. Governments worldwide are also implementing policies and incentives to promote renewable and low-carbon building materials, further bolstering the demand for hempcrete and other sustainable alternatives.
| Report Attribute | Details |
|---|---|
| Base Year | 2023 |
| Hempcrete Market Size in 2023 | USD 26.8 Billion |
| Forecast Period | 2024 – 2032 |
| Forecast Period 2024 – 2032 CAGR | 5% |
| 2024 – 2032 Value Projection | USD 45 Billion |
| Historical Data for | 2021 – 2023 |
| No. of Pages | 220 |
| Tables, Charts & Figures | 205 |
| Segments covered | Type, Application, Distribution Channel, Construction Phase, Function & Region |
| Growth Drivers |
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| Pitfalls & Challenges |
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The hempcrete market faces significant challenges due to the dominance of traditional building materials such as concrete, steel, and insulation. These materials have established supply chains, proven performance, and are familiar to builders and developers. Despite their environmental drawbacks, such as high carbon emissions and resource depletion, their established position in the market presents a barrier for hempcrete and other sustainable alternatives.
Builders and developers often opt for familiar materials with well-established specifications and construction techniques to avoid the perceived risks and uncertainties associated with hempcrete. The cost competitiveness of traditional building materials further exacerbates the challenge for hempcrete. Its upfront costs can be higher than those of conventional materials, and the availability of skilled labor and specialized equipment may be limited.
Hempcrete Market Trends
Hempcrete is gaining popularity in mainstream building practices due to its sustainability, energy efficiency, and comfort benefits. This trend is supported by increased acceptance among construction professionals and advancements in building codes and standards. Hempcrete is poised to gain market share and establish itself as a competitive option for sustainable building projects, making it a viable and competitive alternative to traditional materials in residential, commercial, and industrial developments.
The hempcrete market is experiencing a notable shift toward global expansion, largely fueled by heightened awareness surrounding environmental sustainability and bolstered by regulatory backing for hemp cultivation and utilization. While Europe has traditionally led the charge in hempcrete adoption, other regions, such as North America, Asia Pacific, and Latin America, are increasingly acknowledging the merits of hempcrete as a sustainable construction material.
Hempcrete Market Analysis
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Based on type, the market is segmented into wood, hempcrete, rammed earth, and others. In 2023, the wood segment accounted for over 35% share of the market.
- Wood has long been a conventional and widely accepted construction material, ingrained in architectural practices and building traditions across various regions. Builders and developers are familiar with the properties and characteristics of wood, making it a preferred choice for many construction projects. Additionally, wood offers versatility in design and construction, allowing for the creation of diverse architectural styles and structures to meet the evolving needs and preferences of clients. Its natural aesthetics and warmth contribute to its enduring popularity in both residential and commercial construction applications. Hemp wood aligns well with this sustainability agenda, offering a renewable and low-carbon alternative to conventional timber while delivering comparable or superior characteristics in terms of strength, durability, and versatility. The wood segment is expected to maintain its leading position in the hempcrete market in the coming years with favorable regulatory support and increasing market demand for eco-friendly building materials.
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Based on application, the market is divided into residential construction, commercial construction, industrial construction, and others. The market value of residential construction is expected to reach over USD 20 billion by 2032.
- Hempcrete is gaining popularity among homeowners and developers due to its superior thermal insulation properties, breathability, and carbon-negative footprint. There is a preference for construction materials that minimize carbon footprint and promote energy efficiency with increasing environmental concerns and climate change. The residential construction sector is experiencing a surge in the demand for energy-efficient and healthy living spaces, further fueling the adoption of natural and non-toxic building materials such as hempcrete. Hempcrete is gaining preference by homeowners as they become more aware about indoor air quality and occupant comfort it offers.
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Europe region dominated 30% share of the hempcrete market in 2023, due to the region’s commitment to sustainable building practices and environmental stewardship, supported by a robust regulatory framework. The region's rich agricultural heritage and favorable climate conditions make it an ideal location for hemp cultivation, providing a reliable raw material for hempcrete production. The progressive architectural and design community in Europe has also contributed to the widespread adoption of hempcrete in residential, commercial, and industrial projects. Europe's leadership in the hempcrete industry is expected to remain unchallenged as the global demand for sustainable building materials continues to grow.
Germany's hempcrete market is growing due to its focus on sustainability and green building practices, as well as favorable government policies and incentives for renewable energy and sustainable development. Germany is poised for further market expansion with a well-established construction industry and growing awareness about hempcrete's environmental benefits. However, challenges, such as regulatory constraints and limited awareness among builders and consumers, remain to be addressed.
China's hempcrete market is witnessing rapid growth propelled by increasing urbanization, infrastructure development, and government initiatives promoting sustainable construction. China holds significant potential as a major hempcrete producer and consumer with its vast hemp cultivation capabilities and advanced manufacturing infrastructure. Moreover, rising environmental concerns and efforts to reduce carbon emissions are driving the demand for green building materials such as hempcrete in the Chinese construction sector. However, the market faces challenges related to quality control, standardization, and regulatory compliance, which need to be addressed to ensure sustainable growth and market development.
In Japan, the hempcrete market is emerging as a promising sector driven by growing interest in sustainable building materials and renewable resources. The country's ambitious targets for carbon neutrality and emphasis on eco-friendly construction practices are fueling the demand for hempcrete as a viable alternative to conventional building materials. Additionally, Japan's rich history of traditional construction techniques and craftsmanship provides a fertile ground for the adoption of innovative materials such as hempcrete. Despite these favorable conditions, the market is still in its nascent stages, with challenges related to awareness, supply chain development, and regulatory frameworks needing attention to accelerate market growth and adoption.
The hempcrete market in South Korea is experiencing growth due to environmental sustainability initiatives and government efforts to promote green building practices. The country's strong manufacturing capabilities and technological expertise offer opportunities for innovations and product development in the hempcrete industry. However, limited awareness among builders and consumers and regulatory barriers need to be addressed to unlock the full potential of the market.
Hempcrete Market Share
IsoHemp, American Lime Technology, and HempEco Systems hold a significant share of over 10% in the market. These companies have established themselves as leaders in the development, manufacturing, and distribution of hempcrete products, contributing to the growth and advancement of the hempcrete industry.
IsoHemp, a Belgian manufacturer of hempcrete blocks and panels, offers superior thermal insulation, moisture regulation, and fire resistance, making it ideal for sustainable construction projects. American Lime Technology, a key player in the North America hempcrete business, specializes in lime-based building materials, including hempcrete mixes and binders. HempEco Systems, based in the UK, offers a range of hempcrete products and services for residential, commercial, and industrial construction projects. Its commitment to environmental responsibility and innovations has made it a trusted partner for builders, architects, and developers seeking sustainable construction materials.
Hempcrete Market Companies
Major players operating in the hempcrete industry are
- IsoHemp
- American Lime Technology
- HempEco Systems
- HempFlax
- Hemp Building Company
- JustBioFiber
- UK Hempcrete
Hempcrete Industry News
- In March 2024, The Australian Hemp Masonry Company reported that it tripled its supply of hempcrete in the past decade, from 40 homes per year to 120 homes per year.
- In January 2024, The International Code Council included a hemp-lime (hempcrete) appendix in its 2024 International Residential Code (IRC). The inclusion of this appendix in the model residential code is expected to make it easier for builders to obtain permits and approvals to use hempcrete.
This hempcrete market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million) from 2021 to 2032, for the following segments
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Market, By Type
- Wood
- Hempcrete
- Rammed earth
- Others
Market, By Application
- Residential construction
- Commercial construction
- Industrial construction
- Others
Market, By Distribution Channel
- Direct Sales
- Distributors and Wholesalers
- Retail
- Online Sales
Market, By Construction Phase
- New Construction
- Retrofit and Renovation
Market, By Function
- Structural
- Insulation
- Plaster and Render
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- ANZ
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- MEA
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
Table of Content
Report Content
Chapter 1 Scope & Methodology
1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast parameters
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 Industry 360º synopsis, 2021 - 2032
Chapter 3 Industry Insights
3.1 Industry ecosystem analysis
3.2 Vendor matrix
3.3 Technology & innovation landscape
3.4 Patent analysis
3.5 Key news and initiatives
3.6 Regulatory landscape
3.7 Impact forces
3.7.1 Growth drivers
3.7.1.1 Increasing demand for eco-friendly building materials
3.7.1.2 Governmental support and regulatory incentives
3.7.1.3 Advancements in hemp farming and processing
3.7.1.4 Sustainability and environmental benefits
3.7.1.5 Increase in legalization of industrial hemp
3.7.2 Industry pitfalls & challenges
3.7.2.1 Competition from traditional building materials
3.7.2.2 Limited awareness and education about hempcrete
3.8 Growth potential analysis
3.9 Porter’s analysis
3.9.1 Supplier power
3.9.2 Buyer power
3.9.3 Threat of new entrants
3.9.4 Threat of substitutes
3.9.5 Industry rivalry
3.10 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
4.1 Company market share analysis
4.2 Competitive positioning matrix
4.3 Strategic outlook matrix
Chapter 5 Market Estimates & Forecast, By Type, 2021 - 2032 (USD Billion)
5.1 Key trends
5.2 Wood
5.3 Hempcrete
5.4 Rammed earth
5.5 Others
Chapter 6 Market Estimates & Forecast, By Application, 2021 – 2032 (USD Billion)
6.1 Key trends
6.2 Residential construction
6.3 Commercial construction
6.4 Industrial construction
6.5 Others
Chapter 7 Market Estimates & Forecast, By Distribution Channel, 2021 – 2032 (USD Billion)
7.1 Key trends
7.2 Direct Sales
7.3 Distributors and Wholesalers
7.4 Retail
7.5 Online Sales
Chapter 8 Market Estimates & Forecast, By Construction Phase, 2021 – 2032 (USD Billion)
8.1 Key trends
8.2 New Construction
8.3 Retrofit and Renovation
Chapter 9 Market Estimates & Forecast, By Function, 2021 – 2032 (USD Billion)
9.1 Key trends
9.2 Structural
9.3 Insulation
9.4 Plaster and Render
Chapter 10 Market Estimates & Forecast, By Region, 2021 - 2032 (USD Billion)
10.1 Key trends
10.2 North America
10.2.1 U.S.
10.2.2 Canada
10.3 Europe
10.3.1 UK
10.3.2 Germany
10.3.3 France
10.3.4 Italy
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 China
10.4.2 India
10.4.3 Japan
10.4.4 South Korea
10.4.5 ANZ
10.4.6 Rest of Asia Pacific
10.5 Latin America
10.5.1 Brazil
10.5.2 Mexico
10.5.3 Rest of Latin America
10.6 MEA
10.6.1 UAE
10.6.2 Saudi Arabia
10.6.3 South Africa
10.6.4 Rest of MEA
Chapter 11 Company Profiles
11.1 American Lime Technology
11.2 EcoCocon
11.3 Hemp Building Company
11.4 Hemp Technologies Collective
11.5 Hempcrete Natural Building
11.6 HempEco Systems
11.7 HempFlax
11.8 Hempire
11.9 Hempire Building Materials
11.10 IsoHemp
11.11 JustBioFiber
11.12 Lhoist
11.13 Lime Technology
11.14 Tradical Hemcrete
11.15 UK Hempcrete
- IsoHemp
- American Lime Technology
- HempEco Systems
- HempFlax
- Hemp Building Company
- JustBioFiber
- UK Hempcrete
Window and Door Frame Market - By Type (Door Frame, Window Frame), By Material (Metal, Wood, Glass, Composite, uPVC, Others), By Application (Residential, Commercial), By Distribution Channel (Direct Sales, Indirect Sales), Forecast 2024 – 2032
Window and Door Frame Market Size
Window And Door Frame Market size was valued at USD 101.7 billion in 2023 and is anticipated to register a CAGR of 3.5% between 2024 & 2032. The market is experiencing robust growth driven by increasing construction activities worldwide.
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For instance, according to credible sources, the global construction spending is expected to reach USD 15.7 trillion by 2030, with a significant portion dedicated to residential and commercial buildings. The demand is fueled by both residential and commercial sectors, as consumers prioritize energy-efficient and aesthetically pleasing products. As per American Council for an Energy-Efficient Economy (ACEEE), energy-efficient windows can reduce energy consumption by 15%-30%.
Innovations in materials, such as uPVC, aluminum, and composite materials, offer durability and low maintenance. According to a report published by UN, urban population growth is expected to reach 68% by 2050, requiring significant new construction. As urbanization and infrastructure development continue to rise globally, the window and door frame market is poised for significant expansion in the coming years.
| Report Attribute | Details |
|---|---|
| Base Year | 2023 |
| Window and Door Frame Market Size in 2023 | USD 101.7 Billion |
| Forecast Period | 2024 - 2032 |
| Forecast Period 2024 - 2032 CAGR | 3.5% |
| 2032 Value Projection | USD 138.6 Billion |
| Historical Data for | 2021 - 2023 |
| No. of Pages | 300 |
| Tables, Charts & Figures | 176 |
| Segments covered | Type, material, price, application, distribution channel, and region |
| Growth Drivers |
|
| Pitfalls & Challenges |
|
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The market is experiencing strong growth, driven by several key factors. Increasing spending on housing and commercial infrastructure projects globally has significantly boosted demand for new window and door frames. For instance, the global construction industry is expected to reach USD 15.7 trillion by 2023, according to Statista. The proliferation of uPVC profiles, known for their durability, energy efficiency, and low maintenance, has further fueled market growth. The rising need to replace aging infrastructure, particularly in developed regions, has also contributed to the market expansion.
A 2021 report by the American Society of Civil Engineers (ASCE) gave the US infrastructure a grade of C-, highlighting the need for significant investment in repairs and replacements. This trend is likely replicated in other developed regions, fueling demand for window and door replacements. Moreover, the surge in building and construction activities in the Asia Pacific region, driven by rapid urbanization and industrialization, has emerged as a major driver. The Asia Pacific construction market is expected to be the fastest-growing globally, with a CAGR of 5.7% from 2020 to 2027, driven by urbanization and economic development. These factors collectively indicate a promising outlook for the window and door frame market, with continued growth anticipated in the foreseeable future.
Stringent regulations related to building codes and environmental standards pose significant challenges for manufacturers and developers alike, particularly in terms of compliance and certification. Additionally, the excessive costs associated with eco-friendly products, such as those made from sustainable materials or featuring advanced energy-efficient technologies, can deter consumers and developers from adopting these options. As a result, while there is a growing demand for environmentally friendly solutions, the higher upfront costs remain a barrier for widespread adoption, potentially slowing down market expansion.
Window and Door Frame Market Trends
There is a growing preference for sustainable materials in construction, and this is also impacting the market. Materials such as wood and recycled plastic are becoming more popular choices for window and door frames. For instance, Andersen Corporation, a leading window and door manufacturer, offers a variety of sustainable product lines. Their "A SERIES" windows use FSC-certified wood (Forest Stewardship Council) from responsibly managed forests. They also offer window frames made from recycled vinyl.
The growing trend of smart homes is also impacting the market. There is a growing demand for windows and doors that can be integrated with smart home systems, allowing them to be controlled remotely or to automatically adjust to different conditions. For instance, Velux offers a wide range of skylights and roof windows, many of which are now available with smart features. Their INTEGRA® system allows for remote control of skylights, blinds, and awnings, integrating seamlessly with smart home systems.
Window and Door Frame Market Analysis
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The market by type is segmented into door frames and window frames. The door frame segment includes entry doors, patio doors, French doors, sliding doors, bi-fold doors, and garage doors. In 2023, the door frame segment dominated the market, generating a revenue of USD 71.4 billion. This dominance is expected to continue, with projections indicating that the door frame segment will reach USD 95.7 billion by 2032. This growth can be justified by the increasing construction activities globally, particularly in residential and commercial sectors. Door frames are essential components of both new construction and renovation projects, driven by the demand for durable, secure, and aesthetically pleasing door solutions.
Additionally, the rise in urbanization and infrastructure development, especially in emerging economies like those in Asia Pacific, is further boosting the demand for various types of door frames. These factors collectively contribute to the robust growth and dominance of the door frame segment in the market.
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Based on material the window and door frame market is classified into metal, wood, glass, composite, uPVC, and others. As of 2023, the uPVC segment dominated the market with a substantial market share of 30.7%. This dominance can be attributed to the material's favorable properties, including durability, thermal efficiency, low maintenance requirements, and cost-effectiveness compared to traditional materials like wood and metal. Moreover, uPVC frames are increasingly preferred in construction due to their resistance to corrosion, rot, and termites, making them suitable for a wide range of climates.
As urbanization and infrastructure development continue to accelerate, particularly in Asia Pacific and other emerging markets, the uPVC segment is poised for continued growth. It is projected that the uPVC segment will reach USD 44.4 billion by 2032, driven by ongoing construction activities and the increasing demand for energy-efficient building materials worldwide.
Based on the distribution channel the window and door frame market is categorized into direct sales and indirect sales. Indirect sales dominate this market, accounting for 84.8% of the market share in 2023, and are projected to reach USD 119.5 billion by 2032. The dominance of indirect sales can be attributed to several factors, including the widespread network of distributors and retailers, their ability to provide a wide range of product options, and convenience for consumers.
Moreover, the indirect sales channel allows manufacturers to reach a larger audience and penetrate diverse geographic regions, contributing to its substantial market share. With increasing construction activities and consumer demand for customized and energy-efficient window and door frames, the indirect sales segment is expected to grow further. This growth is driven by expanding distribution networks, technological advancements in e-commerce platforms, and the rising preference for one-stop shopping experiences among consumers.
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Asia Pacific emerged as the dominant segment, holding a share of more than 45.0% of the total market in 2023 and is expected to reach USD 67 billion by 2032. One of the primary drivers is the rapid urbanization and industrialization across countries like China, India, and Southeast Asian nations, which has spurred extensive construction activities in residential, commercial, and industrial sectors. The region's booming population and rising disposable incomes have led to increased spending on housing and infrastructure, driving demand for window and door frames.
Moreover, favorable government initiatives and policies aimed at promoting sustainable construction practices and energy-efficient building materials have further boosted market growth. Additionally, the presence of key market players in the region, coupled with advancements in manufacturing capabilities and technological innovation, has contributed to the Asia Pacific's dominance. As a result, the region continues to hold a significant share of the global market and is expected to maintain its leadership position in the coming years.
North America In terms of country, US is dominating the North America window and door frame market with revenue of around USD 15.2 billion in the year 2023 and expected to reach around USD 20.3 billion by 2032. The country's robust construction industry, fueled by ongoing urbanization, population growth, and a strong economy is driving the market in this region. The demand for residential and commercial buildings, coupled with renovations and replacements of aging infrastructure, drives substantial demand for window and door frames.
The U.S. market benefits from advanced manufacturing capabilities and technological innovation, allowing to produce high-quality, energy-efficient products that meet stringent building codes and environmental standards. Additionally, favorable government policies and incentives aimed at promoting energy efficiency in buildings have further stimulated market growth. The presence of major players and extensive distribution networks in the country also contributes to its dominance in the North American market. Overall, these factors combine to solidify the U.S.'s position as a leader in the market within North America.
Europe In terms of country, UK is dominating the Europe window and door frame market with revenue of around USD 8.3 billion in the year 2023 and expected to reach around USD 10.0 billion by 2032. Firstly, the country has a well-established construction sector with a high demand for both residential and commercial infrastructure. This demand is driven by urbanization, population growth, and renovation projects, particularly in urban areas.
Additionally, the U.K. benefits from stringent building regulations and environmental standards that promote the use of energy-efficient materials, including advanced window and door frames. There is a strong emphasis on sustainability and eco-friendly construction practices, further driving the adoption of high-performance window and door frame solutions. Moreover, the presence of leading manufacturers and suppliers in the region ensures a robust supply chain and competitive market dynamics. These factors collectively contribute to the U.K.'s dominant position in the European window and door frame market, with continued growth expected in the foreseeable future.
Asia Pacific In terms of country China dominated with the overall market share of around 22.3% in the Asia Pacific market and is expected to reach USD 16.7 billion by 2032. China experiences ongoing urbanization and infrastructure development, which drives significant demand for residential and commercial construction. The government's focus on sustainable development and energy efficiency has prompted substantial investments in green buildings and the adoption of eco-friendly building materials, including uPVC profiles for windows and doors.
China's robust manufacturing sector benefits from economies of scale and advanced production capabilities, enabling manufacturers to offer a wide range of high-quality products at competitive prices. Furthermore, a large domestic market with a burgeoning middle class has increased consumer spending on home improvements and renovations, further boosting demand for window and door frames. These factors collectively position China as the dominant player in the Asia Pacific market, a trend that is expected to continue as the country maintains its rapid pace of urban development and infrastructure growth.
Window and Door Frame Market Share
The global window and door frame industry is highly fragmented in nature with prominent players operating in the market such as Andersen Corporation, Jeld-WEN, Inc., Pella Corporation, Eurocell, Duroplast Extrusions Pvt. Ltd. These together hold a market share of 1 to 2%. The market encompasses a wide range of regional and local manufacturers alongside some national brands. This created a fragmented landscape with a high number of competitors.
Window and Door Frame Market Companies
Major players operating in the window and door frame industry include
- Andersen Corporation
- ATIS Group
- B.G. Legno
- Brazil Garage Door
- Cantera Doors
- Century Plyboards
- Duroplast Extrusions Pvt. Ltd.
- Eurocell
- Fenesta Building Systems
- Glass-Rite
- JARIDA
- JELD-WEN, Inc.
- Nawa International
- Neuffer Windows + Doors
- Pella Corporation
- Performance Doorset Solutions Ltd. (PDS)
- Ponzio – P.IVA
- RENSON
- Saudi Aluminium Industries Company (SALUMCO)
- SGM Windows Vinylguard Windows and Doors Systems Ltd.
- TAMCO GULF LTD.
- TOSATTI
- Weru Group
Window and Door Frame Industry News
- In October 2023, Masonite International Corporation announced that its U.S. subsidiary has acquired Fleetwood Aluminum Products which is a designer and manufacturer of premium, aluminum-framed glass door and window solutions for luxury homes. This will help Masonite to expand their product portfolio and address new and non-traditional segments of the market with innovative and differentiated door systems.
- In September 2023, Pella expanded its popular Hidden Screen to the Lifestyle Series wood windows, now available exclusively at Lowe's. As the exclusive home improvement retailer for the Hidden Screen, Lowe's offers Pella's Lifestyle Series double-hung wood windows both online at Lowes.com and in over 1,700 stores nationwide.
- In January 2023, Therma-Tru launched its fiberglass and steel product lineup for 2023, including an innovative, integrated storm and entry door system, decorative glass designs, paint and stain color options, additional sizes for popular styles and more.
- In January 2023, Masonite International Corporation acquired Endura Products, a manufacturer of high-performance door frames and door system components. This acquisition will help Masonite to develop innovative new door solutions that accelerate their Doors That Do More strategy and maximize their growth potential.
The window and door frame market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD Billion) and volume (Million Units) from 2021 to 2032, for the following segments
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Market, by Type
- Door Frame
- Entry doors
- Patio doors
- French doors
- Sliding doors
- Bi-fold doors
- Garage doors
- Window Frame
- Casement windows
- Awning windows
- Double-hung windows
- Slider windows
- Picture windows
- Bay windows
- Skylights
Market, by Material
- Metal
- Wood
- Glass
- Composite
- UPVC
- Others
Market, by Price
- Low
- Medium
- High
Market, by Application
- Residential
- New residential
- Improvement & repair
- Commercial
- New commercial
- Improvement & repair
Market, by Distribution channel
- Direct sales
- Indirect sales
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Malaysia
- Indonesia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- MEA
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
Table of Content
Report Content
Chapter 1 Methodology & Scope
1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast parameters
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 Industry 3600 synopsis, 2021 - 2032
Chapter 3 Industry Insights
3.1 Industry ecosystem analysis
3.1.1 Factors affecting the value chain
3.1.2 Profit margin analysis
3.1.3 Disruptions
3.1.4 Future outlook
3.1.5 Manufacturers
3.1.6 Distributors
3.1.7 Retailers
3.2 Impact forces
3.2.1 Growth drivers
3.2.1.1 Increasing spending on housing/commercial infrastructure
3.2.1.2 Proliferating demand for uPVC profiles
3.2.1.3 Rising replacement of aging infrastructure
3.2.1.4 Growing building and construction activities in Asia Pacific
3.2.2 Industry pitfalls & challenges
3.2.2.1 Stringent regulations
3.2.2.2 Excessive costs associated with eco-friendly products
3.3 Technology & innovation landscape
3.4 Growth potential analysis
3.5 Regulatory landscape
3.6 Pricing analysis
3.7 Porter’s analysis
3.8 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix
Chapter 5 Market Estimates & Forecast, By Type, 2021 – 2032, (USD Billion) (Million Units)
5.1 Key trends
5.2 Door frame
5.2.1 Entry doors
5.2.2 Patio doors
5.2.3 French doors
5.2.4 Sliding doors
5.2.5 Bi-fold doors
5.2.6 Garage doors
5.3 Window frame
5.3.1 Casement windows
5.3.2 Awning windows
5.3.3 Double-hung windows
5.3.4 Slider windows
5.3.5 Picture windows
5.3.6 Bay windows
5.3.7 Skylights
Chapter 6 Market Estimates & Forecast, By Material, 2021 – 2032, (USD Billion) (Million Units)
6.1 Key trends
6.2 Metal
6.3 Wood
6.4 Glass
6.5 Composite
6.6 UPVC
6.7 Others
Chapter 7 Market Estimates & Forecast, By Price, 2021 – 2032, (USD Billion) (Million Units)
7.1 Key trends
7.2 Low
7.3 Medium
7.4 High
Chapter 8 Market Estimates & Forecast, By Application, 2021 – 2032, (USD Billion) (Million Units)
8.1 Key trends
8.2 Residential
8.2.1 New residential
8.2.2 Improvement & repair
8.3 Commercial
8.3.1 New commercial
8.3.2 Improvement & repair
Chapter 9 Market Estimates & Forecast, By Distribution Channel, 2021 – 2032, (USD Billion) (Million Units)
9.1 Key trends
9.2 Direct sales
9.3 Indirect sales
Chapter 10 Market Estimates & Forecast, By Region, 2021 – 2032, (USD Billion) (Million Units)
10.1 Key trends
10.2 North America
10.2.1 U.S.
10.2.2 Canada
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 France
10.3.4 Italy
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 China
10.4.2 India
10.4.3 Japan
10.4.4 South Korea
10.4.5 Australia
10.4.6 Malaysia
10.4.7 Indonesia
10.4.8 Rest of Asia Pacific
10.5 Latin America
10.5.1 Brazil
10.5.2 Mexico
10.5.3 Rest of Latin America
10.6 MEA
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 South Africa
10.6.4 Rest of MEA
Chapter 11 Company Profiles (Business Overview, Financial Data, Product Landscape, Strategic Outlook, SWOT Analysis)
11.1 Andersen Corporation
11.2 ATIS Group
11.3 B.G. Legno
11.4 Brazil Garage Door
11.5 Cantera Doors
11.6 Century Plyboards
11.7 Duroplast Extrusions Pvt. Ltd.
11.8 Eurocell
11.9 Fenesta Building Systems
11.10 Glass-Rite
11.11 JARIDA
11.12 JELD-WEN, Inc.
11.13 Nawa International
11.14 Neuffer Windows + Doors
11.15 Pella Corporation
11.16 Performance Doorset Solutions Ltd. (PDS)
11.17 Ponzio – P.IVA
11.18 RENSON
11.19 Saudi Aluminium Industries Company (SALUMCO)
11.20 SGM Windows Vinylguard Windows and Doors Systems Ltd.
11.21 TAMCO GULF LTD.
11.22 TOSATTI
11.23 Weru Group
- Andersen Corporation
- ATIS Group
- B.G. Legno
- Brazil Garage Door
- Cantera Doors
- Century Plyboards
- Duroplast Extrusions Pvt. Ltd.
- Eurocell
- Fenesta Building Systems
- Glass-Rite
- JARIDA
- JELD-WEN, Inc.
- Nawa International
- Neuffer Windows + Doors
- Pella Corporation
- Performance Doorset Solutions Ltd. (PDS)
- Ponzio – P.IVA
- RENSON
- Saudi Aluminium Industries Company (SALUMCO)
- SGM Windows Vinylguard Windows and Doors Systems Ltd.
- TAMCO GULF LTD.
- TOSATTI
- Weru Group
Civil Engineering Market - By Service (Planning & Design, Construction Management, Maintenance, and Others [Consultancy, Inspection, etc.], By Application (Building, Infrastructure, Water Resources, Energy, Others [Environmental Engineering etc.]) Forecast 2024 – 2032
Civil Engineering Market Size
Civil Engineering Market size was valued at around USD 12.5 trillion in 2023 and is anticipated to register a CAGR of 5.2% between 2024 to 2032. Global urbanization and population increase have created a need for new infrastructure projects including roads, bridges, railroads, airports, and ports. Emerging economies are making significant investments in infrastructure to sustain the rapidly rising populations and economies. Many segments of the construction industry are experiencing sustained expansion, particularly in the private building of single-family houses and home remodeling projects. The fast growth of urban centers has increased the need for commercial development projects.
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For instance, construction spending in the United States topped USD 2.1 billion in 2023 according to the U.S. Census Bureau. As per the Government of India report, the construction Industry in India is anticipated to reach USD 1.4 Tn by 2025. Under The National Infrastructure Pipeline (NIP), India has an investment budget of USD 1.4 Tn on infrastructure - 24% on renewable energy, 18% on roads & highways, 17% on urban infrastructure, and 12% on railways.
| Report Attribute | Details |
|---|---|
| Base Year | 2023 |
| Civil Engineering Market Size in 2023 | USD 12.5 Trillion |
| Forecast Period | 2024 – 2032 |
| Forecast Period 2024 – 2032 CAGR | 5.2% |
| 2024 – 2032 Value Projection | USD 19.6 Trillion |
| Historical Data for | 2021 – 2023 |
| No. of Pages | 200 |
| Tables, Charts & Figures | 271 |
| Segments covered | Service, Application, Region |
| Growth Drivers |
|
| Pitfalls & Challenges |
|
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On the other hand, many governments are committing large resources to infrastructure construction as part of economic stimulus packages or long-term development strategies. These investments provide opportunity for civil engineering firms to pursue a variety of projects. Additionally, innovations in building materials, processes, and digital technology are revolutionizing the civil engineering industry. Building information modeling (BIM), advanced simulation tools, and drone technology are being employed more often to increase project efficiency, accuracy, and safety.
As people become more conscious of environmental concerns, they are paying more attention to the ecological effect of infrastructure initiatives. Civil engineering businesses are under pressure to implement sustainable practices, reduce carbon emissions, and mitigate environmental harm. Failure to address these issues may result in public resistance, legal challenges, and project delays. Compliance with regulatory regulations may be difficult and time-consuming, adding layers of bureaucracy and cost to projects. Changes in rules or the introduction of new environmental and safety requirements may entail changes to project designs and implementation, affecting deadlines and budget. Civil engineering projects are generally capital-intensive and subject to global economic fluctuations. Economic downturns can result in decreased government expenditure on infrastructure, delays in project funding, and a decline in private sector investments, affecting the overall demand for civil engineering services.
Civil Engineering Market Trends
Civil engineering is undergoing a revolution, driven by the critical need for sustainable practices and ecologically friendly solutions. One of the primary trends driving civil engineering innovation is the incorporation of Internet of Things (IoT) devices and sensors into infrastructure systems. These smart technologies allow for real-time monitoring of a variety of data, including traffic flow, structural health, and environmental conditions.
Civil engineers may increase infrastructure asset performance, maintenance procedures, and overall resilience by leveraging data analytics and machine learning algorithms. With a rising emphasis on decreasing carbon footprints and energy usage, the notion of Net-Zero energy buildings has gained popularity. Pre-fabrication, which involves constructing sections of a project offsite and transporting assembled structures to construction sites, is not a new concept, but it is gaining popularity.
Civil Engineering Market Analysis
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Based on service, the market can be segmented into planning & design, construction management, maintenance, and others. In 2023, the construction management service segment accounted for revenue of around USD 4.3 Trillion in the year 2023 and expected to reach around USD 6.9 Trillion by 2032. Project management software, mobile applications, and cloud-based collaboration platforms are all being used to digitize construction management. These solutions promote communication, scheduling, resource allocation, and progress monitoring, resulting in increased project efficiency and collaboration. Lean construction concepts, influenced by industrial approaches, are gaining popularity for reducing waste, optimizing processes, and increasing productivity. Just-in-time delivery, modular building, and continuous improvement approaches are used to speed construction operations.
On the other hand, demand is increasing for comprehensive planning solutions that consider many issues such as urbanization, sustainability, resilience, and community participation. Integrated planning methods improve land use, transportation networks, utilities, and environmental conservation.
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Based on application, the global civil engineering market is categorized into building, infrastructure, water resources, energy, and others. In 2023, the building application segment accounted for revenue of around USD 4.8 Trillion in the year 2023 and expected to reach USD 7.7 Trillion by 2032. There is a rising emphasis on sustainable construction approaches, including energy efficiency, renewable materials, and ecologically friendly concepts for design. LEED certification and other green building standards are promoting the use of sustainable construction approaches.
The combination of IoT and AI is resulting in smarter and more responsive buildings. IoT sensors play an important role in monitoring and regulating energy. AI algorithms are used to evaluate massive volumes of data from building operations, detecting trends and inefficiencies. Smart buildings include ESG elements in their operations and administration. Advanced systems now track water usage, garbage generation, and other resource consumption. This improved approach to sustainability in smart buildings extends beyond traditional construction techniques to include the building's whole lifetime and operation.
On the other hand, broadband networks, data centers, and communication systems are all critical components of digital infrastructure that support the digital economy and enable connection in Smart Cities. Civil engineering businesses play an important role in developing and building strong digital infrastructure to satisfy rising demand.
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Asia Pacific dominated the global civil engineering market with revenue of around USD 4.5 Trillion in the year 2023 and expected to reach around USD 7.4 Trillion by 2032. Asia Pacific is one of the world's fastest urbanizing regions, with millions of people moving from rural areas to cities each year. This urbanization tendency generates a high need for new infrastructure, such as roads, bridges, railroads, airports, housing, and utilities. The region has a rapidly expanding population, which puts a burden on current infrastructure and demands investments in new infrastructure projects to suit the requirements of urban residents. Projects for healthcare facilities, educational institutions, and public amenities are also in demand.
Additionally, many Asia-Pacific countries are investing heavily in infrastructure as part of their economic growth strategies. Governments allocate cash for infrastructure projects to boost economic growth, increase connectivity, and enhance the quality of life. Additionally, cities in Asia Pacific are investing in smart city projects to improve urban planning, transportation, energy efficiency, and public services. Civil engineering is critical for creating and implementing smart infrastructure solutions such as intelligent transportation systems, digital utilities, and sustainable buildings.
North America In terms of country, the US dominating with the overall market share of around 78% in the North America civil engineering market. The United States is concentrating on improving its aged infrastructure, such as roads, bridges, airports, and water systems. The Bipartisan Infrastructure Law provides major funding for infrastructure projects, which increases demand for civil engineering services.
On the other hand, Canada market expressing notable growth rate of around 5.1% in 2023. Canada is investing in infrastructure to boost economic development and improve livability. Investments are concentrated on transportation networks, public transit, green infrastructure, and renewable energy projects.
Europe The Europe civil engineering market was valued at around USD 2.9 Trillion in 2023 and is anticipated to register a CAGR of 4.7% between 2024 to 2032. European governments are investing in infrastructure projects to upgrade current assets and build new ones. Transportation networks, such as roads, railroads, and airports, are being modernized to increase connectivity and economic growth. Furthermore, investments in energy infrastructure, digital connectivity, and sustainable urban development are propelling the industry further.
In terms of country, Germany is dominating the Europe civil engineering market in terms of market value of around USD 0.54 Trillion during the 2023. German cities are implementing urban reconstruction initiatives that renew downtown areas, improve public spaces, and improve transit networks. Civil engineering businesses play an important part in urban planning, infrastructure design, and sustainable development projects.
On the other hand, the France is experiencing notable growth in the market and is anticipated to grow at 5.1% CAGR during the forecast period. France is investing in transportation infrastructure, such as high-speed rail, urban transit systems, and road networks, to increase connectivity and mobility. Projects like the Grand Paris Express seek to improve public transit in the Paris metropolitan region.
Asia Pacific The Asia Pacific civil engineering market was valued at around USD 4.5 Trillion in 2023 and is anticipated to register a CAGR of 5.8% between 2024 to 2032. Asia Pacific is one of the world's fastest urbanizing regions, with millions of people moving from rural areas to cities each year. This urbanization tendency generates a high need for new infrastructure, such as roads, bridges, railroads, airports, housing, and utilities.
In terms of country, China is dominating the Asia Pacific market in terms of market value around USD 1.4 Trillion in the year 2023 and expected to reach around USD 2.4 Trillion by 2032. China continues to make significant investments in infrastructure development, including transportation networks, energy projects, and urban infrastructure. The Belt and Road Initiative (BRI) increases investment in infrastructure projects throughout Asia and beyond.
On the other hand, India is emerging as a fastest growing country for the market in terms of CAGR of 6.3% between 2024 to 2032. The Indian government's Smart Cities Mission intends to create 100 smart cities across the country by promoting investments in digital infrastructure, sustainable architecture, and smart transportation systems. Civil engineering businesses help develop and implement smart city initiatives.
Civil Engineering Market Share
Key players involve in the market are ACS Group, AECOM, Bouygues S.A., STRABAG SE, and Vinci SA accounting market share of 12-15% in 2023. Innovation is a major driver of competition in civil engineering. Companies that embrace and create innovative technologies such as Building Information Modeling (BIM), new materials, and sustainable building processes have a competitive advantage. Innovation may result in cost savings, increased efficiency, and environmentally sustainable solutions.
Strong connections with customers, government agencies, suppliers, and industry partners are critical for securing contracts and remaining competitive. Networking possibilities, involvement in industry groups, and retaining a good reputation may all contribute to repeat business and recommendations. Adaptability, resilience, and the ability to predict and adapt to market trends are critical for businesses to flourish in this competitive environment.
Civil Engineering Market Companies
Major companies operating in the civil engineering industry include
- ACS Group
- AECOM
- Afcons Infrastructure Ltd
- Bouygues S.A.
- Eiffage SA
- Fujita Corporation
- Jacobs
- Kiewit Corporation
- Larsen & Toubro Limited
- Royal BAM Group
- Skanska AB
- STRABAG SE
- Tata Projects Ltd.
- Tetra Tech Inc.
- Vinci SA
Civil Engineering Industry News
- In April 2024, Japan-based Fujita Corporatio and India-based Neilsoft announced plans to expand the scope of their co-operative working by agreeing to increase the size of their BIM Center in Pune, India. This understanding not only signifies the growing acceptance and need for Building Information Modelling (BIM) Technology Services in the Engineering & Construction industry but also showcases the growing bilateral business relationships between Japan and India.
- In April 2024, ACS launches its 2024-2026 Strategic Plan to achieve Euro 1 billion in attributable profit by 2026. The Strategic Plan will allow it to consolidate its business model, which combines profitability through dividends and growth, cohesive and integrated, capable of meeting the demand for both new generation infrastructures and those in which ACS is already a leader.
- In January 2024, Eiffage, through its subsidiary Eiffage Construction, has secured two of the four works new construction packages for the project launched by the City of Paris to redevelop the former Saint-Vincent-de-Paul hospital site as an Eco district, in the 14th district.
The civil engineering market research report includes in-depth coverage of the industry, with estimates & forecasts in terms of revenue (USD Trillion) from 2021 to 2032, for the following segments
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Market, By Service, 2021 – 2032
- Planning & Design
- Construction Management
- Maintenance
- Others (Consultancy, Inspection, etc.)
Market, By Application, 2021 – 2032
- Building
- Residential
- Commercial
- Industrial
- Others (Government, Municipality, etc.)
- Infrastructure
- Roadways
- Tramp, Railway & Metros
- Airports
- Others (Ports, Water Transits, etc.)
- Water Resources
- Energy
- Others (Environmental Engineering etc.)
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- MEA
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
Table of Content
Report Content
Chapter 1 Methodology & Scope
1.1 Market scope & definitions
1.2 Research design
1.2.1 Research approach
1.2.2 Data collection methods
1.3 Base estimates & calculations
1.3.1 Base year calculation
1.3.2 Key trends for market estimation
1.4 Forecast model
1.5 Primary research and validation
1.5.1 Primary sources
1.5.2 Data mining sources
Chapter 2 Executive Summary
2.1 Industry 3600 synopsis
Chapter 3 Industry Insights
3.1 Industry ecosystem analysis
3.1.1 Factor affecting the value chain
3.1.2 Profit margin analysis.
3.1.3 Disruptions
3.1.4 Future outlook
3.1.5 Manufacturers
3.1.6 Distributors
3.1.7 Retailers
3.2 Industry impact forces
3.2.1 Growth drivers
3.2.1.1 Rising urbanization and construction industry
3.2.1.2 Government investments in infrastructure
3.2.2 Industry pitfalls & challenges
3.2.2.1 Increasing awareness of environmental issues
3.2.2.2 Economic downturns and price fluctuations of raw materials
3.3 Growth potential analysis
3.4 Porter’s analysis
3.5 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
4.1 Company market share analysis
4.2 Competitive positioning matrix
4.3 Strategic outlook matrix
Chapter 5 Market Estimates & Forecast, By Service (USD Trillion)
5.1 Key trends
5.2 Planning & design
5.3 Construction management
5.4 Maintenance
5.5 Others (consultancy, inspection, etc.)
Chapter 6 Market Estimates & Forecast, By Application (USD Trillion)
6.1 Key trends
6.2 Building
6.2.1 Residential
6.2.2 Commercial
6.2.3 Industrial
6.2.4 Others (government, municipality, etc.)
6.3 Infrastructure
6.3.1 Roadways
6.3.2 Tramp, railway & metros
6.3.3 Airports
6.3.4 Others (ports, water transits, etc.)
6.4 Water resources
6.5 Energy
6.6 Others (environmental engineering etc.)
Chapter 7 Market Estimates & Forecast, By Region (USD Trillion)
7.1 Key trends, by region
7.2 North America
7.2.1 U.S.
7.2.2 Canada
7.3 Europe
7.3.1 Germany
7.3.2 UK
7.3.3 France
7.3.4 Italy
7.3.5 Spain
7.3.6 Rest of Europe
7.4 Asia Pacific
7.4.1 China
7.4.2 India
7.4.3 Japan
7.4.4 South Korea
7.4.5 Australia
7.4.6 Rest of Asia Pacific
7.5 Latin America
7.5.1 Brazil
7.5.2 Mexico
7.5.3 Argentina
7.5.4 Rest of Latin America
7.6 MEA
7.6.1 Saudi Arabia
7.6.2 UAE
7.6.3 South Africa
7.6.4 Rest of MEA
Chapter 8 Company Profiles
8.1 ACS Group
8.2 AECOM
8.3 Afcons Infrastructure Ltd
8.4 Bouygues S.A.
8.5 Eiffage SA
8.6 Fujita Corporation
8.7 Jacobs
8.8 Kiewit Corporation
8.9 Larsen & Toubro Limited
8.10 Royal BAM Group
8.11 Skanska AB
8.12 STRABAG SE
8.13 Tata Projects Ltd.
8.14 Tetra Tech Inc.
8.15 Vinci SA
- ACS Group
- AECOM
- Afcons Infrastructure Ltd
- Bouygues S.A.
- Eiffage SA
- Fujita Corporation
- Jacobs
- Kiewit Corporation
- Larsen & Toubro Limited
- Royal BAM Group
- Skanska AB
- STRABAG SE
- Tata Projects Ltd.
- Tetra Tech Inc.
- Vinci SA
Cranes Rental Market Size - By Product (Mobile Crane [Truck Loader Crane, Rough Terrain Crane, All Terrain Crane, Crawler Crane], Fixed Crane [Monorail Crane, Stiffleg Crane, Tower Crane, Gantry Crane]), Application, Project Duration & Forecast, 2024 - 2032
Cranes Rental Market Size
Cranes Rental Market size was valued at USD 14.9 billion in 2023 and is estimated to register a CAGR of over 9% between 2024 and 2032. As construction and infrastructure continue to expand worldwide, the need for cranes and other heavy-lifting equipment is growing. Companies are forming partnerships and alliances to better meet this demand. These cooperatives enable crane rental companies to access a wider range of equipment and services, expanding what they offer to customers.
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For instance, in March 2024, Kobelco, America’s leading crane rental company in Colorado and Utah, partnered with Bigge, which has the nation’s broadest selection of crawler cranes. Acting as an authorized Kobelco dealer in Colorado and Utah regions, Bigge reaffirmed its dedication to providing state-of-the-art crane technology and superior equipment for construction and lifting heavy objects to the company.
| Report Attribute | Details |
|---|---|
| Base Year | 2023 |
| Cranes Rental Market Size in 2023 | USD 14.9 Billion |
| Forecast Period | 2024 - 2032 |
| Forecast Period 2024 - 2032 CAGR | 9% |
| 2032 Value Projection | USD 33.4 Billion |
| Historical Data for | 2021 – 2023 |
| No. of Pages | 260 |
| Tables, Charts & Figures | 300 |
| Segments covered | Product, Application and Project duration |
| Growth Drivers |
|
| Pitfalls & Challenges |
|
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By pooling resources and expertise, companies can improve productivity, increase fleet availability, and offer competitive pricing. In addition, the partnership facilitates knowledge exchange and technological innovation, which leads to the development of advanced crane solutions to suit specific business needs, alongside creating market connectivity, empowerment, and industry growth. The growing number of partnerships and alliances between leading companies in the crane rental industry demonstrates a proactive approach to the increasing demand for internal supply solutions worldwide.
While the crane rental market is growing, several restrictions hinder its growth. High initial investment costs prevent some businesses from entering the market, limiting competition. In addition, stricter safety regulations require companies to invest in training and equipment maintenance, which increases operating costs. Market abundance in some areas also presents challenges, putting pressure on prices. In addition, the economic crisis and fluctuations in construction activity can significantly affect the demand for crane rentals, creating uncertainty for industry players. It is pivotal to overcome these limitations to sustain growth and profitability in the market.
Cranes Rental Market Trends
With the proliferation of online platforms across the globe, the crane rental industry is witnessing impressive growth. These digital channels offer customers a more convenient and efficient way for customers to access crane rental services and provide seamless communication and greater market visibility. With the increased digitization of business processes, online channels for customers can find available crane options, compare prices, and facilitate a centralized booking facility.
Additionally, online platforms enable crane rental companies to expand their operations beyond local markets, tapping into a broader customer base. By optimizing the experience using digital marketing channels, companies can increase their online presence and attract new customers worldwide. Additionally, online portals provide valuable data insights that allow companies to analyze market trends, customer preferences, and competitor activities and enable informed decision-making, policy-making, and strategic planning.
To cite an instance, in December 2023, in a landmark move, signing a Memorandum of Understanding (MOU) with online crane rental platform Mycrane and AI-enabled startup Equip9 at Excon, South Asia’s leading construction equipment operator in Bangalore, India, is ready to drive technical and commercial processes with the necessary emphasis placed on the use of artificial intelligence (AI) to develop recommendations and selection models.
Cranes Rental Market Analysis
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Based on product, the market is divided into mobile crane and fixed crane. The mobile cranes segment is poised to exceed USD 18 billion by 2032. Mobile cranes provide versatility and flexibility, emphasizing their need in construction, utilities, oil and gas, and other industries. With the rapid urbanization and technological development worldwide, the need for mobile cranes is increasing to facilitate heavy lifting operations at job sites.
Besides, the adoption of mobile cranes for temporary projects or remote locations fuels the demand for rental properties. Mobile cranes are increasingly popular among operators and project managers due to their ability to move across different terrains and provide faster setups, increasing the demand for rental solutions in the crane market.
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Based on application, the crane rental market is categorized into construction & mining, utility, manufacturing, transportation and oil & gas. The construction & mining segment held a major market share of around 49% in 2023. These industries rely heavily on cranes and other heavy lifting equipment to facilitate a variety of tasks, such as hoisting, construction, and moving heavy machinery for relocation.
With global construction and mining activity showing no signs of slowing down, the crane rental business must continue to grow. Companies in these industries often opt for rental solutions to access the latest crane technology without the burden of ownership, driving their continued exploration of the market.
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North America dominated the global cranes rental market with a share of over 37% in 2023. The demand for cranes is strong with the growing construction industry and major projects such as the construction of roads and bridges. The flourishing oil and gas industry in the region also contributes to the need for heavy equipment lifts in onshore and offshore operations. In addition, increasing urbanization and commercial development further fuel the demand for crane rentals. As companies look for cost-effective and convenient solutions for their lifting needs, the crane rental market in North America continues to grow.
Crane rentals are required in the U.S. For several causes. Driven by commercial and residential projects, the country’s complex construction industry constantly requires heavy lifting equipment. In addition, the U.S. energy sector, including oil and gas exploration and renewable energy projects, relies heavily on cranes for a variety of tasks. With so much emphasis on efficiency and cost savings, many companies choose to hire cranes to meet their lifting needs without a long-term commitment. As a result, the market in the U.S. is heated to meet the needs of various industries across the country.
European countries like Germany, Spain, and Italy support the cranes rental market through infrastructure development initiatives, favorable tax policies, and subsidies for equipment acquisition, boosting construction activity and driving demand for rented cranes from rental companies operating in these nations.
Cranes Rental Market Share
Mammoet (SHV Holding) and Maxim Crane Works, L.P. hold a significant market share of over 15% in the cranes rental industry. Crane rental companies focus on expanding their fleet, improving service quality, and improving operational efficiency to meet evolving customer demands. These efforts include investing in the latest crane technology, providing customized solutions, and providing comprehensive support services along with marketing initiatives aimed at highlighting the advantage of renting a crane over owning it, helping the market grow. By constantly innovating and changing their offerings, companies in the market strive to meet the needs of their customers, driving the demand for rental units in various industries.
Cranes Rental Market Companies
Major companies operating in the cranes rental industry are
- Ainscough Crane Hire
- Al Faris
- Barnhart Crane and Rigging
- Bigge Crane and Rigging Co.
- Mammoet (SHV Holding)
- Maxim Crane Works, L.P.
- Sarens NV
- Sims Crane & Equipment
- TAT HONG HOLDINGS LTD
- TNT Crane & Rigging
Cranes Rental Industry News
- In October 2023, Barnhart Crane & Rigging, headquartered in the United States, completed the purchase of Bollmeyer Cranes in Madison, Illinois. Bollmeier Crane specializes in rental properties, equipment, and related labor.
- In March 2024, JCB reaffirmed its commitment to expanding its presence in destination equipment with the introduction of the T65D, a 65-foot diesel-powered machine designed for the North American rental market.
The cranes rental market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD Million) from 2021 to 2032, for the following segments
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Market, By Product
- Mobile Crane
- Truck loader crane
- Rough terrain crane
- All terrain crane
- Crawler crane
- Fixed Crane
- Monorail crane
- Stiffleg crane
- Tower crane
- Gantry crane
Market, By Application
- Construction & mining
- Mobile Crane
- Fixed Crane
- Utility
- Mobile Crane
- Fixed Crane
- Manufacturing
- Mobile Crane
- Fixed Crane
- Transportation
- Mobile Crane
- Fixed Crane
- Oil & gas
- Mobile Crane
- Fixed Crane
Market, By Project Duration
- Short-term
- Long-term
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Russia
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- ANZ
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- MEA
- UAE
- South Africa
- Saudi Arabia
- Rest of MEA
Table of Content
Research Report
Chapter 1 Methodology & Scope
1.1 Research design
1.1.1 Research approach
1.1.2 Data collection methods
1.2 Base estimates and calculations
1.2.1 Base year calculation
1.2.2 Key trends for market estimates
1.3 Forecast model
1.4 Primary research & validation
1.4.1 Primary sources
1.4.2 Data mining sources
1.5 Market definitions
Chapter 2 Executive Summary
2.1 Industry 360-degree synopsis, 2021 - 2032
Chapter 3 Industry Insights
3.1 Industry ecosystem analysis
3.2 Supplier landscape
3.2.1 Crane OEMs
3.2.2 Component suppliers
3.2.3 Service providers
3.2.4 End-users
3.2.5 Profit margin analysis
3.3 New vs rental crane market
3.4 Crane rental fleet size, by region
3.5 Technology & innovation landscape
3.6 Patent analysis
3.7 Key news & initiatives
3.8 Regulatory landscape
3.9 Impact forces
3.9.1 Growth drivers
3.9.1.1 High purchasing cost associated with new equipment
3.9.1.2 Rapidly growing manufacturing sector in North America & Europe
3.9.1.3 Increasing investments in infrastructure development in APAC
3.9.1.4 High demand for crane rental from oil & gas sector in MEA
3.9.1.5 Rising construction and mining activities in Latin America
3.9.2 Industry pitfalls & challenges
3.9.2.1 Lack of skilled and qualified operators
3.9.2.2 High maintenance and repair costs
3.10 Growth potential analysis
3.11 Porter’s analysis
3.12 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix
Chapter 5 Market Estimates & Forecast, By Product, 2021 - 2032 ($Mn)
5.1 Key trends
5.2 Mobile Crane
5.2.1 Truck loader crane
5.2.2 Rough terrain crane
5.2.3 All terrain crane
5.2.4 Crawler crane
5.3 Fixed Crane
5.3.1 Monorail crane
5.3.2 Stiffleg crane
5.3.3 Tower crane
5.3.4 Gantry crane
Chapter 6 Market Estimates & Forecast, By Application, 2021 - 2032 ($Mn)
6.1 Key trends
6.2 Construction & mining
6.2.1 Mobile Crane
6.2.2 Fixed Crane
6.3 Utility
6.3.1 Mobile Crane
6.3.2 Fixed Crane
6.4 Manufacturing
6.4.1 Mobile Crane
6.4.2 Fixed Crane
6.5 Transportation
6.5.1 Mobile Crane
6.5.2 Fixed Crane
6.6 Oil & gas
6.6.1 Mobile Crane
6.6.2 Fixed Crane
Chapter 7 Market Estimates & Forecast, By Project Duration, 2021 - 2032 ($Mn)
7.1 Key trends
7.2 Short-term
7.3 Long-term
Chapter 8 Market Estimates & Forecast, By Region, 2021 - 2032 ($Mn)
8.1 Key trends
8.2 North America
8.2.1 U.S.
8.2.2 Canada
8.3 Europe
8.3.1 UK
8.3.2 Germany
8.3.3 France
8.3.4 Italy
8.3.5 Russia
8.3.6 Spain
8.3.7 Rest of Europe
8.4 Asia Pacific
8.4.1 China
8.4.2 Japan
8.4.3 India
8.4.4 South Korea
8.4.5 ANZ
8.4.6 Southeast Asia
8.4.7 Rest of Asia Pacific
8.5 Latin America
8.5.1 Brazil
8.5.2 Mexico
8.5.3 Argentina
8.5.4 Rest of Latin America
8.6 MEA
8.6.1 UAE
8.6.2 South Africa
8.6.3 Saudi Arabia
8.6.4 Rest of MEA
Chapter 9 Company Profiles
9.1 Action Construction Equipment Ltd.
9.2 Ainscough Crane Hire
9.3 Al Faris
9.4 Barnhart Crane and Rigging
9.5 Bigge Crane and Rigging Co.
9.6 BMS Group
9.7 Buckner Heavylift Cranes, LLC
9.8 CROWLAND CRANES (HOLDINGS) LIMITED
9.9 Guay Inc
9.10 Lampson International LLC
9.11 Mammoet (SHV Holding)
9.12 Maxim Crane Works, L.P.
9.13 Mediaco Group
9.14 Prangl GmbH
9.15 Sanghvi Movers Limited
9.16 Sarens NV
9.17 Sarilar Group
9.18 Sims Crane & Equipment
9.19 TAT HONG HOLDINGS LTD
9.20 Tiong Woon Crane and Transport
9.21 TNT Crane & Rigging
9.22 Uchimiya Transportation and Engineering Co., Ltd.
9.23 Weldex (International) Offshore Ltd.
- Ainscough Crane Hire
- Al Faris
- Barnhart Crane and Rigging
- Bigge Crane and Rigging Co.
- Mammoet (SHV Holding)
- Maxim Crane Works, L.P.
- Sarens NV
- Sims Crane & Equipment
- TAT HONG HOLDINGS LTD
- TNT Crane & Rigging
Structural Health Monitoring Market Size - By Offering (Hardware, Software, Service), By Type (Wired SHM Systems, Wireless SHM Systems, Others), By Technology (Fiber Optic, Acoustic Emission, Ultrasound, Thermography, Others), By End & Forecast, 2024 - 2032
Structural Health Monitoring Market Size
Structural Health Monitoring Market was valued at over USD 3.1 billion in 2023 and is estimated to register a CAGR of over 10% between 2024 and 2032. Many developed countries face the challenge of aging infrastructure including bridges, roads, tunnels, and buildings. The need to monitor and maintain these structures to prevent catastrophic failures drives the demand for these systems.
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Moreover, advancements in sensor technologies, data analytics, and wireless communication have made structural health monitoring systems more efficient, cost-effective, and easier to deploy. Innovations in areas, such as the Internet of Things (IoT), big data, and Artificial Intelligence (AI), are significantly enhancing their capabilities. The increasing frequency of natural disasters, such as earthquakes, floods, and hurricanes, highlights the need for robust structural health monitoring systems. These systems help in the early detection of potential structural failures, allowing for timely maintenance and repair, and improving disaster preparedness.
| Report Attribute | Details |
|---|---|
| Base Year | 2023 |
| Structural Health Monitoring Market Size in 2023 | USD 3.1 Billion |
| Forecast Period | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR | 10% |
| 2032 Value Projection | USD 7 Billion |
| Historical Data for | 2021 - 2023 |
| No. of Pages | 250 |
| Tables, Charts & Figures | 293 |
| Segments covered | Offering, Type, Technology, End Use |
| Growth Drivers |
|
| Pitfalls & Challenges |
|
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The deployment of structural health monitoring systems involves substantial initial investment in hardware, software, and installation services. This high upfront cost can be a barrier for some organizations, especially in developing regions with limited budgets. Moreover, these systems can be complex to install and maintain, requiring specialized knowledge and skills. This technical complexity can deter potential users who lack the necessary expertise or resources to manage these systems effectively.
Structural Health Monitoring Market Trends
The use of IoT technology and smart sensors is becoming more prevalent in structural health monitoring systems. These advancements enable real-time data collection and monitoring, improving the accuracy and efficiency of structural assessments. The application of advanced data analytics, Machine Learning (ML), and AI is transforming the structural health monitoring industry. These technologies enhance predictive analytics for improved estimation of structural issues, optimized maintenance schedules, and extended structure lifespan.
The concept of digital twins or virtual replicas of physical structures is gaining traction. Digital twins allow for continuous monitoring and simulation of structural performance, providing valuable insights for maintenance and decision-making. The market is expanding in emerging economies due to rapid urbanization and infrastructure development. Governments and private sectors in these regions are investing in structural health monitoring technologies to ensure the safety and durability of new constructions.
Structural Health Monitoring Market Analysis
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Based on offering, the hardware segment dominated the global market with a share of over 40% in 2023. The deployment of structural health monitoring systems requires significant investment in hardware components such as sensors (strain gauges, accelerometers, displacement sensors, etc.), data acquisition systems, and analyzers. These components are essential for the core functionality of structural health monitoring systems, leading to substantial initial costs. Continuous advancements in sensor technology including the development of more accurate, durable, and miniaturized sensors drive the demand for new and replacement hardware. Innovations in hardware significantly impact the market by improving the overall performance of structural health monitoring systems.
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Based on end-use industry, the civil infrastructure segment will hit USD 3 billion by 2032 and is expected to register a CAGR of over 10% during 2024 to 2032. Many countries, especially in developed regions including North America and Europe, have extensive aging infrastructure such as bridges, tunnels, dams, and buildings. The need to monitor and maintain these structures to prevent failures and ensure safety fuels the demand for structural health monitoring systems.
Governments worldwide are increasingly implementing stringent regulations and policies to ensure the safety and maintenance of public infrastructure. Large-scale government investments and initiatives in infrastructure projects further boost the demand for structural health monitoring solutions in this segment. Ensuring the safety of civil infrastructure is critical for public safety. SHM systems facilitate the early detection of structural issues, enabling preventive maintenance and reducing the risk of catastrophic failures, which is a key priority for public authorities.
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Asia Pacific region captured about 40% share of the structural health monitoring market in 2023. Many countries in the region including China, India, Japan, and South Korea are undergoing rapid urbanization and significant infrastructure development. The construction of new bridges, highways, skyscrapers, and other critical infrastructure boosts the demand for structural health monitoring systems to ensure safety and durability. Governments in the region are investing heavily in infrastructure projects and are becoming aware of the importance of maintaining structural integrity. Initiatives, such as China’s Belt and Road Initiative (BRI) and India’s Smart Cities Mission, highlight the importance of structural health monitoring technologies in large-scale infrastructure projects.
Structural Health Monitoring Market Share
Siemens AG and Nova Metrix LLC hold a significant share of over 10% in the structural health monitoring industry. Siemens AG, a global powerhouse in electrical engineering and electronics, offers comprehensive structural health monitoring solutions through its subsidiary, Siemens Digital Industries Software. The company's products include advanced sensor technologies, data acquisition systems, and sophisticated analytics software designed to monitor and assess the health of various infrastructure types.
Nova Metrix LLC is a provider of structural health monitoring solutions, specializing in high-precision sensors and data acquisition systems. The company offers a wide range of structural health monitoring products that cater to diverse applications including the civil infrastructure, aerospace, and energy sectors. Nova Metrix’s portfolio includes strain gauges, accelerometers, displacement sensors, and comprehensive monitoring systems that ensure the safety and performance of structures.
Structural Health Monitoring Market Companies
Major key players operating in the structural health monitoring industry are
- Siemens AG
- Nova Metrix LLC
- COWI A/S
- Acellent Technologies, Inc.
- Geocomp Corporation
- Campbell Scientific, Inc.
- Digitexx Data Systems, Inc.
Structural Health Monitoring Industry News
- In June 2023, Campbell Scientific and the Royal Netherlands Meteorological Institute (KNMI) partnered to enhance the surface observation system in the Netherlands. This collaboration aims to improve the accuracy and reliability of weather data collection through the deployment of advanced sensors and data acquisition systems provided by Campbell Scientific.
This structural health monitoring market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue (USD Million) from 2021 to 2032, for the following segments
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Market, By Offering
- Hardware
- Software
- Service
Market, By Type
- Wired SHM systems
- Wireless SHM systems
- Others
Market, By Technology
- Fiber optic
- Acoustic emission
- Ultrasound
- Thermography
- Others
Market, By End Use
- Civil infrastructure
- Aerospace & defense
- Energy
- Mining
- Others
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- ANZ
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- MEA
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
Table of Content
Report Content
Chapter 1 Methodology & Scope
1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 Industry 3600 synopsis, 2021 - 2032
2.2 Business trends
2.2.1 Total addressable market (TAM), 2024-2032
Chapter 3 Industry Insights
3.1 Industry ecosystem analysis
3.2 Vendor matrix
3.3 Profit margin analysis
3.4 Technology & innovation landscape
3.5 Patent analysis
3.6 Key news and initiatives
3.7 Regulatory landscape
3.8 Impact forces
3.8.1 Growth drivers
3.8.1.1 Aging infrastructure
3.8.1.2 Increased investment in infrastructure projects
3.8.1.3 Rising awareness of safety and risk management
3.8.1.4 Urbanization and smart city initiatives
3.8.1.5 Economic growth in emerging markets
3.8.2 Industry pitfalls & challenges
3.8.2.1 Data management challenges
3.8.2.2 High initial costs
3.9 Growth potential analysis
3.10 Porter’s analysis
3.10.1 Supplier power
3.10.2 Buyer power
3.10.3 Threat of new entrants
3.10.4 Threat of substitutes
3.10.5 Industry rivalry
3.11 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix
Chapter 5 Market Estimates & Forecast, By Offering, 2021-2032 (USD Million)
5.1 Key trends
5.2 Hardware
5.3 Software
5.4 Service
Chapter 6 Market Estimates & Forecast, By Type, 2021-2032 (USD Million)
6.1 Key trends
6.2 Wired SHM systems
6.3 Wireless SHM systems
6.4 Others
Chapter 7 Market Estimates & Forecast, By Technology, 2021-2032 (USD Million)
7.1 Key trends
7.2 Fiber optic
7.3 Acoustic emission
7.4 Ultrasound
7.5 Thermography
7.6 Others
Chapter 8 Market Estimates & Forecast, By End-use, 2021-2032 (USD Million)
8.1 Key trends
8.2 Civil infrastructure
8.3 Aerospace & defense
8.4 Energy
8.5 Mining
8.6 Others
Chapter 9 Market Estimates & Forecast, By Region, 2021-2032 (USD Million)
9.1 Key trends
9.2 North America
9.2.1 U.S.
9.2.2 Canada
9.3 Europe
9.3.1 UK
9.3.2 Germany
9.3.3 France
9.3.4 Italy
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 China
9.4.2 India
9.4.3 Japan
9.4.4 South Korea
9.4.5 ANZ
9.4.6 Rest of Asia Pacific
9.5 Latin America
9.5.1 Brazil
9.5.2 Mexico
9.5.3 Rest of Latin America
9.6 MEA
9.6.1 UAE
9.6.2 South Africa
9.6.3 Saudi Arabia
9.6.4 Rest of MEA
Chapter 10 Company Profiles
10.1 Siemens AG
10.2 Nova Metrix LLC
10.3 COWI A/S
10.4 Acellent Technologies, Inc.
10.5 Geocomp Corporation
10.6 Campbell Scientific, Inc.
10.7 Structural Monitoring Systems Plc
10.8 Hottinger Baldwin Messtechnik GmbH (HBM)
10.9 Pure Technologies
10.10 RST Instruments Ltd
10.11 Bridge Diagnostics, Inc.
10.12 Sensuron
10.13 FiberSensing, S.A.
10.14 Geokon, Inc.
- Siemens AG
- Nova Metrix LLC
- COWI A/S
- Acellent Technologies, Inc.
- Geocomp Corporation
- Campbell Scientific, Inc.
- Digitexx Data Systems, Inc.
Fire Rated Glass Market Size - By Glass Type (Wired Glass, Ceramic Glass, Tempered Glass, Intumescent Glass, Laminated Glass and Others), By End-Use (Residential, Commercial and Industrial), By Regional Outlook & Forecast, 2024 – 2032
Fire Rated Glass Market Size
Fire Rated Glass Market was valued at USD 6.04 billion in 2023 and is anticipated to register a CAGR of 6.3% between 2024 and 2032. The growth can be attributed to the rising number of fire incidents coupled with the growing construction worldwide due to rising urbanization and industrialization. Rising fire incidents have led to increased spending by national governments globally to improve the fire safety of buildings, both residential and commercial.
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Additionally, as more people move into urban economic areas, there is a growing demand for high-rise structures and urban housing projects, resulting in the development of a variety of residential projects that meet the necessary fire safety requirements. For example, according to the WHO estimates and projections, the world's urban population is expected to grow by about 1.63% per year from 2020 to 2025 and 1.44% per year from 2025 to 2030.
| Report Attribute | Details |
|---|---|
| Base Year | 2023 |
| Fire Rated Glass Market Size in 2023 | USD 6.04 Billion |
| Forecast Period | 2024 - 2032 |
| Forecast Period 2024 - 2032 CAGR | 6.3% |
| 2032 Value Projection | USD 5.2 Billion |
| Historical Data for | 2021 – 2023 |
| No. of Pages | 100 |
| Tables, Charts & Figures | 503 |
| Segments covered | Product Type, Depth, Thickness, Size, Price, End Use, Distribution Channel, Region |
| Growth Drivers |
|
| Pitfalls & Challenges |
|
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Government ministries and national bodies responsible for overseeing the production of fire-resistant glass follow various norms and regulations to ensure its compliance with safety standards. The aim is to safeguard consumer interests by verifying manufacturer claims about product characteristics and assessing potential adverse effects to determine their level of danger. Such stringent government controls may limit market growth.
Fire Rated Glass Market Trends
Fire-resistant glass finds widespread use in the construction industry, particularly in areas such as windows, glazing, and doors. Its capability to mitigate the spread of smoke, heat, and fire is a key factor driving market demand. In 2021, the average monthly investments on new private building in the U.S. were over USD 1.24 trillion. Furthermore, strict government restrictions for the manufacture of fire-resistant glass along with growing material costs are expected to limit market growth. On the other hand, greater government spending on defense is anticipated to open new opportunities for the fire-resistant glass industry.
Fire Rated Glass Market Analysis
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Based on glass type, the market is segmented into wired glass, ceramic glass, tempered glass, intumescent glass, laminated glass, and others (fire-rated polycarbonate glass, coated glass, etc.). Ceramic glass was valued at USD 2.4 billion in 2023 and is expected to reach USD 4.6 billion 2032 owing to the rising popularity of insulated glass units in both commercial and residential construction. These units have fire ratings ranging from 20 minutes to 3 hours and are capable of handling the thermal shock of water from water sprinklers and fire hoses, driving market growth during the forecast period.
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Based on end use, the market is segmented into residential, commercial, and industrial. In 2023, the commercial segment dominated the market with a share of 63% and is likely to exceed USD 6.6 billion by 2032.
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North America fire rated glass market was worth USD 2.4 billion in 2023 and is estimated to cross USD 4.3 billion by 2032. The increasing consumer spending power, as well as infrastructure project funding, is driving the demand for fire rated glass products. Furthermore, Asia Pacific is expected to experience the fastest growth rate during the projection period owing to the rising regional construction activities along with an increase in fire accidents, particularly in emerging nations.
Fire Rated Glass Market Share
The global fire rated glass industry is highly fragmented with prominent players such as FG GLASS INDUSTRIES PVT. LTD., Vetrotech Saint-Gobain (Group Revenue), SCHOTT AG, Nippon Electric Glass Co., Ltd., and Asahi India Glass Limited. Manufacturers are adopting strategic steps, such as mergers, acquisitions, partnerships, and collaborations, to consolidate their market position and meet the growing consumer demand.
Fire Rated Glass Market Companies
Major players operating in the fire rated glass industry include
- AGC Glass Europe
- Asahi India Glass Limited
- Avanti Systems USA
- FG GLASS INDUSTRIES PVT. LTD.
- FireLite
- Fuso Glass India Pvt. Ltd.
- Nippon Electric Glass Co., Ltd.
- Pilkington Group Limited
- Promat International
- Pyroguard
- Safti First
- SCHOTT AG
- Technical Glass Products (TGP)
- Vetrotech Saint-Gobain (Group Revenue)
- Vitrum Glass Group
Fire Rated Glass Market News
- In October 2022, the svt Group of Companies announced its collaboration with the British Technical Fire Safety Group (TFSG) to broaden its range of products and provide clients with solutions from a single source. TFSG produces safety glass for the building industry through its subsidiaries Pyroguard and Fire Glass UK, while svt is one of the top providers of passive fire prevention solutions in Europe.
- In October 2022, AGC Glass Europe partnered with McGrory Glass, one of the biggest independent producers of architectural and decorative glass, to become a direct national distributor of Pyrobel Fire Resistant Glass from AGC.
This fire rated glass market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD Million) from 2021 to 2032, for the following segments
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Market, By Glass Type
- Wired glass
- Ceramic glass
- Tempered glass
- Intumescent glass
- Laminated glass
- Others (Fire-rated polycarbonate glass, coated glass, etc.)
Market, By End-Use
- Residential
- Commercial
- Industrial
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Malaysia
- Indonesia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- MEA
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
Table of Content
Report Content
Chapter 1 Methodology & Scope
1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast parameters
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 Industry 360-degree synopsis, 2021 - 2032
Chapter 3 Industry Insights
3.1 Industry ecosystem analysis
3.1.1 Factors affecting the value chain
3.1.2 Profit margin analysis
3.1.3 Disruptions
3.1.4 Future outlook
3.1.5 Manufacturers
3.1.6 Distributors
3.1.7 Retailors
3.2 Regulatory landscape
3.3 Impact forces
3.3.1 Growth drivers
3.3.1.1 Sturdy increase in necessity for safety & security coupled with escalating number of fire incidences
3.3.1.2 Residential & commercial construction growth and expansion in infrastructural renovation projects
3.3.1.3 Regulatory and government focus on fire safety & security
3.3.2 Industry pitfalls & challenges
3.3.2.1 Fluctuating raw material costs
3.3.2.2 Intense Competition
3.4 Consumer buying behavior analysis
3.4.1 Demographic trends
3.4.2 Factors affecting buying decision
3.4.3 Consumer product adoption
3.4.4 Preferred distribution channel
3.4.5 Preferred price range
3.5 Growth potential analysis
3.6 Porter’s analysis
3.7 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix
Chapter 5 Market Estimates & Forecast, By Glass Type, 2021 – 2032, (USD Million)
5.1 Key trends
5.2 Wired glass
5.3 Ceramic glass
5.4 Tempered glass
5.5 Intumescent glass
5.6 Laminated glass
5.7 Others (fire-rated polycarbonate glass, coated glass, etc.)
Chapter 6 Market Estimates & Forecast, By End-Use, 2021 – 2032, (USD Million)
6.1 Key trends
6.2 Residential
6.3 Commercial
6.4 Industrial
Chapter 7 Market Estimates & Forecast, By Region, 2021 – 2032, (USD Million)
7.1 Key trends
7.2 North America
7.2.1 U.S.
7.2.2 Canada
7.3 Europe
7.3.1 Germany
7.3.2 UK
7.3.3 France
7.3.4 Italy
7.3.5 Spain
7.3.6 Rest of Europe
7.4 Asia Pacific
7.4.1 China
7.4.2 India
7.4.3 Japan
7.4.4 South Korea
7.4.5 Australia
7.4.6 Malaysia
7.4.7 Indonesia
7.4.8 Rest of Asia Pacific
7.5 Latin America
7.5.1 Brazil
7.5.2 Mexico
7.5.3 Rest of Latin America
7.6 MEA
7.6.1 UAE
7.6.2 Saudi Arabia
7.6.3 South Africa
7.6.4 Rest of MEA
Chapter 8 Company Profiles (Business Overview, Financial Data, Product Landscape, Strategic Outlook, SWOT Analysis)
8.1 AGC Glass Europe
8.2 Asahi India Glass Limited
8.3 Avanti Systems USA
8.4 FG GLASS INDUSTRIES PVT. LTD.
8.5 FireLite
8.6 Fuso Glass India Pvt. Ltd.
8.7 Nippon Electric Glass Co., Ltd.
8.8 Pilkington Group Limited
8.9 Promat International
8.10 Pyroguard
8.11 Safti First
8.12 SCHOTT AG
8.13 Technical Glass Products (TGP)
8.14 Vetrotech Saint-Gobain (Group Revenue)
8.15 Vitrum Glass Group
- AGC Glass Europe
- Asahi India Glass Limited
- Avanti Systems USA
- FG GLASS INDUSTRIES PVT. LTD.
- FireLite
- Fuso Glass India Pvt. Ltd.
- Nippon Electric Glass Co., Ltd.
- Pilkington Group Limited
- Promat International
- Pyroguard
- Safti First
- SCHOTT AG
- Technical Glass Products (TGP)
- Vetrotech Saint-Gobain (Group Revenue)
- Vitrum Glass Group
Fire Door Market Size - By Product Type (Hinged Fire Door, Double Action Fire Door, Sliding Fire Door, Fabric Fire Doors/Curtains and Flush Glazed Fire Door), By Fire Resistance (EI 30, EI 60, EI 90, Others (EI 120)), By Material, Application, Region & Forecast, 2024 – 2032
Fire Door Market Size
Fire Door Market was valued at USD 16.5 billion in 2023 and is anticipated to register a CAGR of 4.5% between 2024 and 2032, due to the increasing necessity for safety & security coupled with the escalating number of fire incidences and the rising industrial and residential construction around the world. For instance, according to Oxford Economics, the global construction work will reach USD 13.9 trillion by 2037, driven by growth in China, the U.S., and India. Global urbanization and significant infrastructure development contribute to the expansion of the fire-proof door market.
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Governments worldwide are increasingly implementing severe building safety norms and regulations that require the use of fire-rated materials, including fire doors, in the commercial and residential structures. This regulatory framework generates a consistent demand for fire doors. For instance, The International Fire Code (IFC), Fire-Resistant Construction (Chapters 6 & 7), specify requirements for fire-rated materials for walls, floors, ceilings, and doors in different building types.
| Report Attribute | Details |
|---|---|
| Base Year | 2023 |
| Fire Door Market Size in 2023 | USD 16.5 Billion |
| Forecast Period | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR | 4.5% |
| 2032 Value Projection | USD 24.3 Billion |
| Historical Data for | 2021 - 2023 |
| No. of Pages | 270 |
| Tables, Charts & Figures | 503 |
| Segments covered | Product Type, Fire Resistance, Material, Application, Region |
| Growth Drivers |
|
| Pitfalls & Challenges |
|
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Fluctuations in raw material prices, particularly for steel and other fire-resistant materials, create a significant threat to the fire-proof door market. Abrupt rises in material costs can lead to higher manufacturing costs, thereby reducing profit margins and prompting companies to raise prices for consumers.
Fire Door Market Trends
Technological advancements improve the performance and usefulness of fire doors. Fire doors are rapidly being integrated into building automation and safety systems, enabling centralized monitoring, control, and reporting of fires. This integration improves the overall building safety and allows for fast action and evacuation processes during emergencies. Furthermore, due to the increasing focus on customization and aesthetics, there is a growing demand for fire doors with adjustable designs, finishes, and sizes that blend perfectly with architectural types and interior décor. Manufacturers provide a wide range of options to fulfill various customer preferences and design needs.
Fire Door Market Analysis
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Based on product type, the hinged fire door segment was valued at USD 6.1 billion in 2023 and is set to grow at 3.9% CAGR from 2024 to 2032 due to the wide adoption in residential and commercial buildings. Hinged fire doors provide various benefits, including space efficiency and ease of installation, making them more popular in both commercial & residential settings. Their convenience and user-friendliness undoubtedly contribute to their broad adoption.
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Based on application, residential segment dominated the 50.7% share of the fire door market in 2023 and is expected reach USD 12.9 billion 2032 due to rising disposable incomes and increasing focus on aesthetics with the integration of smart technologies for home security. For instance, as per the National Association of Home Builders (NAHB) analysis of Census Construction Spending data, investments in private residential construction rose by 1% in March 2022.
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North America fire door market size surpassed USD 6 billion in 2023 and is predicted to hit USD 8.6 billion by 2032. This can be attributed to the growing emphasis on smart and integrated door solutions, fueled by technological advancements. Increased awareness of sustainable building practices has an impact on the market, with a growing demand for eco-friendly fire-proof doors and an emphasis on energy-efficient designs.
Country-Level Analysis
The U.S. dominated the North America fire door market with a share of 4.7 billion in 2023. The U.S. has strict construction rules and regulations that require the installation of fire doors in all sorts of buildings including commercial, residential, and industrial structures. In addition, the country is experiencing significant construction activities in a variety of sectors, including residential & commercial, creating a continuous demand for fire protection solutions including fire doors.
China dominated the market with 46% of market share in 2023 due to significant urbanization and construction activities in recent decades. The country's rapid economic growth has spurred substantial infrastructure development including residential, commercial, and public infrastructure developments. This rising construction activities have created a significant need for fire protection solutions such as fire doors.
Fire Door Market Share
The global fire door industry is highly fragmented, with prominent players such as ASSA ABLOY, Chase Doors, Rapp Bomek AS, and JELD-WEN, ESSEXFORD JOINERY. Manufacturers are adopting strategic steps, such as mergers, acquisitions, partnerships, and collaboration, to consolidate their market position and meet the growing consumer demand.
Fire Door Market Companies
Major key players operating in the fire door industry include
- Agta Record
- ASSA ABLOY
- Chase Doors
- China Buyang Co., Ltd.
- Esserford Joinery Works Ltd.
- Fusim Group Co., Ltd.
- Hormann Beteiligungs GmbH
- Mesker Openings Group
- National Firefighting Manufacturing FZCO
- Nihon Funen Co., Ltd.
- Rapp Bomek AS
- Republic Doors and Frames
- Taotao Group Co. Ltd.
- UK Fire Doors Ltd.
- VISTA PANELS LIMITED
- Wangli Group Co., Ltd.
- Zhejiang Jiahui Doors Co., Ltd.
Fire Door Industry News
- In June 2023, ASSA ABLOY, a major leader in the security business, entered into an agreement to purchase Mottura Serrature di sicurezza Spa, a recognized Italian company known for making secure residential armored lock cases and security cylinders, thereby expanding ASSA ABLOY's product portfolio and market position
- In February 2023, Hydro's acquisition of Hueck's building systems and extrusion business, which was approved by German and Austrian competition regulators, increased its market share in Germany and Europe. This strategic move prepared Hydro for future expansion in the extrusions and building systems markets.
This fire door market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD Million) from 2021 to 2032, for the following segments
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Market, By Product Type
- Hinged fire door
- Double action fire door
- Sliding fire door
- Fabric fire doors/curtains
- Flush glazed fire door
Market, By Fire Resistance
- EI 30
- EI 60
- EI 90
- Others (EI 120)
Market, By Material
- Glass
- Steel
- Gypsum
- Timber
- Others (aluminum, vermiculate boards, etc.)
Market, By Application
- Residential
- Commercial
- Industrial
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Malaysia
- Indonesia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- MEA
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
Table of Content
Report Content
Chapter 1 Methodology & Scope
1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast parameters
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 Industry 3600 synopsis, 2021 - 2032
Chapter 3 Industry Insights
3.1 Industry ecosystem analysis
3.1.1 Factors affecting the value chain
3.1.2 Profit margin analysis
3.1.3 Disruptions
3.1.4 Future outlook
3.1.5 Manufacturers
3.1.6 Distributors
3.1.7 Retailors
3.2 Regulatory landscape
3.3 Impact forces
3.3.1 Growth drivers
3.3.1.1 Sturdy increase in necessity for safety & security coupled with escalating number of fire incidences
3.3.1.2 Residential & commercial construction growth and expansion in infrastructural renovation projects
3.3.1.3 Regulatory and government focus on fire safety & security
3.3.2 Industry pitfalls & challenges
3.3.2.1 Fluctuating raw material costs
3.3.2.2 Intense Competition
3.4 Consumer buying behavior analysis
3.4.1 Demographic trends
3.4.2 Factors affecting buying decision
3.4.3 Consumer product adoption
3.4.4 Preferred distribution channel
3.4.5 Preferred price range
3.5 Growth potential analysis
3.6 Porter’s analysis
3.7 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix
Chapter 5 Market Estimates & Forecast, By Product Type, 2021 – 2032, (USD Million)
5.1 Key trends
5.2 Hinged fire door
5.3 Double action fire door
5.4 Sliding fire door
5.5 Fabric fire doors/curtains
5.6 Flush glazed fire door
Chapter 6 Market Estimates & Forecast, By Fire Resistance, 2021 – 2032, (USD Million)
6.1 Key trends
6.2 EI 30
6.3 EI 60
6.4 EI 90
6.5 Others (EI 120)
Chapter 7 Market Estimates & Forecast, By Material, 2021 – 2032, (USD Million)
7.1 Key trends
7.2 Glass
7.3 Steel
7.4 Gypsum
7.5 Timber
7.6 Others (aluminum, vermiculate boards, etc.)
Chapter 8 Market Estimates & Forecast, By Application, 2021 – 2032, (USD Million)
8.1 Key trends
8.2 Residential
8.3 Commercial
8.4 Industrial
Chapter 9 Market Estimates & Forecast, By Region, 2021 – 2032, (USD Million)
9.1 Key trends
9.2 North America
9.2.1 U.S.
9.2.2 Canada
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 France
9.3.4 Italy
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 China
9.4.2 India
9.4.3 Japan
9.4.4 South Korea
9.4.5 Australia
9.4.6 Malaysia
9.4.7 Indonesia
9.4.8 Rest of Asia Pacific
9.5 Latin America
9.5.1 Brazil
9.5.2 Mexico
9.5.3 Rest of Latin America
9.6 MEA
9.6.1 UAE
9.6.2 Saudi Arabia
9.6.3 South Africa
9.6.4 Rest of MEA
Chapter 10 Company Profiles (Business Overview, Financial Data, Product Landscape, Strategic Outlook, SWOT Analysis)
10.1 Agta Record
10.2 ASSA ABLOY
10.3 Chase Doors
10.4 China Buyang Co., Ltd.
10.5 Esserford Joinery Works Ltd.
10.6 Fusim Group Co., Ltd.
10.7 Hörmann Beteiligungs GmbH
10.8 Mesker Openings Group
10.9 National Firefighting Manufacturing FZCO
10.10 Nihon Funen Co., Ltd.
10.11 Rapp Bomek AS
10.12 Republic Doors and Frames
10.13 Taotao Group Co. Ltd.
10.14 UK Fire Doors Ltd.
10.15 VISTA PANELS LIMITED
10.16 Wangli Group Co., Ltd.
10.17 Zhejiang Jiahui Doors Co., Ltd.
- Agta Record
- ASSA ABLOY
- Chase Doors
- China Buyang Co., Ltd.
- Esserford Joinery Works Ltd.
- Fusim Group Co., Ltd.
- Hormann Beteiligungs GmbH
- Mesker Openings Group
- National Firefighting Manufacturing FZCO
- Nihon Funen Co., Ltd.
- Rapp Bomek AS
- Republic Doors and Frames
- Taotao Group Co. Ltd.
- UK Fire Doors Ltd.
- VISTA PANELS LIMITED
- Wangli Group Co., Ltd.
- Zhejiang Jiahui Doors Co., Ltd.
Wooden Decking Market - By Wood Type (Pressure treated Wood, Redwood, Cedar, Tropical Hardwood, Wood-plastic Composites, Others), By Category (Indoor, Outdoor), By Application (Railing, Floor, Wall, Others), By End User (Residential, Commercial), By Distribution Channel (Online, Offline), Forecast 2024 – 2032
Wooden Decking Market Size
Wooden Decking Market size was valued at USD 5.40 billion in 2023 and is anticipated to register a CAGR of 7.1% between 2024 and 2032, fueled by a combination of aesthetic appeal, sustainability trends, and outdoor living popularity. Homeowners and businesses alike are increasingly investing in outdoor spaces, leading to a rise in demand for wooden decks to enhance aesthetics and functionality. The market is driven by various wood types, including pressure-treated lumber, cedar, and redwood, with each offering unique benefits in terms of durability, appearance, and maintenance.
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The robust growth in the construction industry, particularly in residential and commercial sectors, has boosted demand for wooden decking as homeowners and developers seek to create appealing outdoor spaces. According to data from the United States Census Bureau, the value of the residential construction sector in the United States reached USD 929.7 billion in July 2022, marking a notable increase from USD 815.5 billion recorded in July 2021, reflecting a growth rate of 14%. The presence of aging homes indicates a burgeoning remodeling market, as older properties typically require the addition of new features or the repair/replacement of outdated components. This trend is further reinforced by a growing interest in outdoor living, with consumers desiring functional and aesthetically pleasing areas for relaxation and entertainment.
Additionally, the shift toward sustainable and biodegradable building materials is shaping the market, with a focus on wood types sourced from responsibly managed forests and those with low environmental impact. This aligns with a broader push for eco-friendly construction practices. Moreover, India is projected to attract an investment of approximately USD 1.3 trillion in the housing sector within the next six years, with an estimated construction of 60 million new residences. The accessibility of affordable housing is anticipated to increase by roughly 70% by the year 2024. This increasing investment in the residential sector, particularly in home renovations and new buildings, has led to a surge in wooden decking installations, indicating a strong market trajectory.
| Report Attribute | Details |
|---|---|
| Base Year | 2023 |
| Wooden Decking Market Size in 2023 | USD 5.40 Billion |
| Forecast Period | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR | 7.1% |
| 2032 Value Projection | USD 9.70 Billion |
| Historical Data for | 2021 - 2023 |
| No. of Pages | 370 |
| Tables, Charts & Figures | 247 |
| Segments covered | Wood type, category, application, end user, distribution channel and region |
| Growth Drivers |
|
| Pitfalls & Challenges |
|
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As sustainability becomes a key focus for consumers, alternatives like composite decking, made from recycled plastics and wood fibers, are gaining popularity due to their durability and lower environmental impact. These substitutes offer a similar aesthetic to wood while requiring less maintenance, further challenging the traditional market. Additionally, growing awareness of deforestation's environmental impact has led to stricter regulations and consumer hesitance about using non-sustainably sourced wood. This has prompted a shift toward certified sustainable forestry practices, yet the perception of environmental harm continues to pose a challenge.
Wooden Decking Market Trends
Environmental concerns are driving a preference for sustainable wood sources like FSC-certified wood or composite decking made from recycled materials. For instance, Weyerhaeuser is a major lumber supplier that actively promotes sustainable forestry practices and offers FSC-certified decking options, similar to GreenForest Lumber, SilvaWood International, etc.
Furthermore, consumers are increasingly seeking low-maintenance decking materials that require less staining, sealing, and cleaning. This is leading to the popularity of composite decking and pre-finished wood options. For instance, companies like Wolf Decks specializes in pre-finished cedar decking that requires minimal ongoing maintenance compared to traditional untreated cedar.
Wooden Decking Market Analysis
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Based on wood type, the market is segmented into pressure-treated wood, redwood, cedar, tropical hardwood, wood-plastic composites, and others such as mahogany, teak, and tigerwood. In 2023, the pressure-treated wood segment emerged as the dominant force, commanding a substantial market share of 36.1% and is projected to reach USD 3.40 billion by 2032. Pressure-treated wood offers a cost-effective solution for decking projects while providing decent durability and resistance to rot and insects, making it a popular choice among homeowners and contractors. Its widespread availability and ease of installation further contribute to its market dominance. Moreover, advancements in pressure-treating technologies have enhanced the lifespan and performance of pressure-treated wood, sustaining its appeal in the market despite growing competition from alternative materials.
However, the market experienced a notable drop in 2023 compared to 2022 owing to the economic uncertainties, including fluctuations in housing markets, inflation in raw material prices, etc. During the COVID-19 pandemic lumber prices spiked due to the disruption in supply chains, which pushed up the cost of wooden decking materials. Furthermore, as supply chains normalized, lumber prices began to stabilize in 2022 and continued to decrease in 2023. This made wooden decks less expensive but also potentially reduced urgency for some deck projects.
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Based on category, the wooden decking market is bifurcated into indoor and outdoor categories. In 2023, the indoor segment notably dominated the market, generating a revenue of USD 3.15 billion and is expected to reach USD 5.36 billion by 2032. Firstly, the increasing trend of indoor-outdoor living spaces, particularly in urban areas with limited outdoor space, has fueled demand for indoor wooden decking solutions.
Additionally, advancements in wood treatments and finishes have made indoor decking more durable, resistant to wear, and aesthetically pleasing, further driving its popularity among homeowners and commercial spaces alike. Moreover, the versatility of wooden decking allows for customization to match various interior design styles, enhancing its appeal and contributing to its sustained growth in the market.
Based on application, the wooden decking market is segmented into railing, floor, wall, and others. In 2023, the floor segment emerged as the dominant force, generating a revenue of USD 2.39 billion. This segment's prominence is attributed to several factors, including the widespread use of wooden decking for outdoor flooring solutions in residential, commercial, and hospitality sectors. Wooden decks offer a natural and aesthetically pleasing outdoor flooring option, enhancing outdoor spaces' appeal while providing a durable and versatile surface for various activities. Additionally, the growing trend of outdoor living spaces, coupled with increased investments in residential and commercial construction projects, further fueled the demand for wooden decking in the floor segment. Due to these factors, the floor segment is projected to reach USD 3.81 billion in revenue by 2032, indicating sustained growth opportunities within the market.
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The North America wooden decking market is expected to reach USD 2.79 billion by 2032. Firstly, the region has a strong tradition of outdoor living and recreational activities, driving significant demand for wooden decking in residential, commercial, and hospitality sectors. The culture of hosting outdoor gatherings and enjoying backyard spaces has led to widespread adoption of wooden decks as a preferred outdoor flooring solution.
Additionally, North America benefits from a robust construction industry, with a high volume of residential and commercial construction projects incorporating wooden decking for its aesthetic appeal and durability. As per the United States Census Bureau, the residential construction industry in the United States was valued at USD 929.7 billion in July 2022 compared to USD 815.5 billion in July 2021, registering a growth of 14%. Rising home prices in the country have also encouraged homeowners to spend more on home improvements. Moreover, favorable economic conditions, including steady GDP growth and high disposable incomes, have further bolstered the market's expansion in the region.
There is a decrease in the North American market owing to the decline in sales prices and volumes and the increase in wood raw material prices. For instance, Metsa Group’s pulp and sawn timber industry sales decreased by a significant amount in North America and Europe compared to 2022.
In terms of country, US is dominating the North America wooden decking market with revenue of around USD 1.21 billion in the year 2023 and expected to reach around USD 1.97 billion by 2032. The U.S. boasts a vast land area with diverse climates, providing ample opportunities for outdoor living and recreational activities year-round, thus driving demand for wooden decking. Secondly, the country has a strong tradition of homeownership and a culture that values outdoor spaces, leading to widespread adoption of wooden decks in residential properties.
Furthermore, the U.S. benefits from a thriving construction industry, with a high volume of residential and commercial construction projects incorporating wooden decking for its aesthetic appeal and functional benefits. For instance, according to the Associated General Contractors of America (AGC), there were more than 919,000 construction establishments in the U.S. in the 1st quarter of 2023. Also, as per the statistics provided by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau, the building permits in the U.S. for August 2023 were 6.9% higher than that of July 2023. Additionally, favorable economic conditions, including steady GDP growth and high consumer spending, contribute to sustained demand for wooden decking in the U.S. market. Finally, the presence of well-established manufacturers, distribution networks, and a robust regulatory framework further solidify the U.S.'s position as the leader in the North American wooden decking market.
In terms of country, the U.K. is dominating the Europe market with revenue of around USD 290.7 million in the year 2023 and expected to reach around USD 455.1 million by 2032. The UK's temperate maritime climate encourages outdoor living, making wooden decking a popular choice for enhancing outdoor spaces. Additionally, the UK boasts a strong tradition of garden culture, with a high value placed on outdoor leisure and entertainment, driving the demand for wooden decking in residential properties.
Moreover, the country's robust construction industry, fueled by urbanization and infrastructure development projects, provides ample opportunities for the incorporation of wooden decking in both residential and commercial construction projects. Furthermore, stringent environmental regulations and a growing emphasis on sustainable practices have prompted the adoption of certified sustainably sourced wood, further boosting the market for wooden decking in the UK.
In terms of country China dominated with the overall market share of around 22.3% in the Asia Pacific market and is expected to reach USD 654.9 million by 2032. This is due to the nation's rapid urbanization and burgeoning construction industry, which has propelled the demand for outdoor living spaces and eco-friendly building materials.
With a massive population and a growing middle class seeking to enhance their quality of life, there's a significant appetite for residential properties with outdoor amenities like wooden decks. Moreover, China boasts a rich tradition of using wood in construction and landscaping, providing a cultural foundation for the widespread adoption of wooden decking. Additionally, the government's push for sustainable development and green building practices has spurred the use of certified sustainable wood products in construction projects, further driving the market. For instance, the Chinese government outlined ambitious development plans that included preparations for moving 250 million people to its new megacities over the next ten years.
Wooden Decking Market Share
The key players operating in the market are UPM, Weyerhaeuser Company, West Fraser, Metsä Group, and James Latham PLC all together comprises a market share of 20 - 25% in 2023. The market is highly fragmented. These players focus on strategic partnerships and new screen size launches & commercialization for market expansion. The market offers a wide variety of wood types such as pressure-treated, cedar, redwood, composite materials, and styles such as traditional, grooved, hidden fastener. This allows various players to compete based on their expertise in specific product categories.
There was a significant decrease in revenues of major companies such as West Fraser, Metsa. For instance, SYP production volumes of West Fraser decreased in 2023 due to operational cutbacks at their lumber mill in Perry, Florida, and inventory management curtailments. Cost inflation in various inputs, including supplies, energy, labor, and transportation eased. The costs of products sold decreased compared to 2022, primarily due to lower log and manufacturing costs in Canadian operations, reduced SYP shipment volumes, and a favorable $77 million variance related to inventory write-downs. Lower inventory valuation reserves were recorded in 2023 due to decreased inventory costs, particularly lower log costs, and reduced overall inventory levels.
Wooden Decking Market Companies
Major players operating in the wooden decking industry include
- Alfresco Floors
- AZEK Building Products
- DuraLife
- Fiberon
- Humboldt Redwood Company
- Inovar Floors
- James Latham PLC
- Kebony
- Koppers
- Metsa Group
- Thermory AS
- Trex Company, Inc.
- UPM
- United Construction Products
- Universal Forest Products
- Vetedy Group
- West Fraser
- Weyerhaeuser Company
Wooden Decking Industry News
- In February 2024, Trex launched a comprehensive collection of Trex-branded deck fasteners and accessories. Featuring more than 120 SKUs, the new collection includes solutions for every composite deck fastening and finishing need such as color-matched screws and plugs to specially engineered bits, depth setters and clips – including several first-to-market innovations.
- In November 2023, AZEK Company announced their new product lineup for 2024. The products are from its TimberTech, AZEK Exteriors and StruXure brands, including the debut of an innovative aluminum framing product, new decking and porch colors, expanded railing offerings, a new siding product, and a Cabana X model now available with a modular design.
- In August 2023, Trex launched the new community recycling challenge called the NexTrex Recycling Challenge. Trex has made the process easier and more equitable so more participants have the opportunity to earn recognition and rewards for their recycling efforts. Under the new structure, any participating organization that collects at least 1,000 pounds of recycled plastic film during a 12-month period qualifies to receive a composite bench from the Trex Outdoor Furniture Collection.
- In August 2023, Metsä Group and SRV, a Finnish construction firm, signed a deal to set up a new Kerto LVL mill in Äänekoski, Finland. Kerto LVL, manufactured by Metsä Group, is a laminated veneer lumber widely utilized in construction endeavors. The raw material is sawn into LVL planks, beams, or panels. This strategic move is poised to enhance Metsä Group's wooden deck production capacity.
- In July 2023, Oldcastle APG's renowned brand, MoistureShield®, entered into a strategic partnership with Mid-Am Building Supply, Inc. to extend the distribution network of its cutting-edge composite decking collection. This collaboration aims to make MoistureShield® products more accessible to customers in Centralia, Illinois; Chillicothe, Missouri; Moberly, Missouri; Mt. Pleasant, Iowa; and Spring Hill, Kansas.
The wooden decking market research report includes in-depth coverage of the industry, with estimates & forecast in terms of volume (Thousand Units) and revenue (USD Million) from 2021 to 2032, for the following segments
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Market, by Wood Type
- Pressure treated wood
- Redwood
- Cedar
- Tropical hardwood
- Wood-plastic composites
- Others (Mahagony, teak, tigerwood, etc.)
Market, by Category
- Indoor
- Outdoor
Market, by Application
- Railing
- Floor
- Wall
- Others
Market, by End User
- Residential
- New construction
- Remodelling
- Commercial
- New construction
- Remodelling
Market, by Distribution Channel
- Direct sales
- Indirect sales
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- MEA
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
Table of Content
Report Content
Chapter 1 Methodology & Scope
1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast parameters
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 Industry 3600 synopsis, 2021 - 2032
Chapter 3 Industry Insights
3.1 Industry ecosystem analysis
3.1.1 Factor affecting the value chain
3.1.2 Profit margin analysis
3.1.3 Disruptions
3.1.4 Future outlook
3.1.5 Manufacturers
3.1.6 Distributors
3.1.7 Retailers
3.2 Regulatory landscape
3.3 Impact forces
3.3.1 Growth drivers
3.3.1.1 Increase in the construction industry
3.3.1.2 Growing trend of outdoor living spaces
3.3.1.3 Shift towards sustainable and biodegradable building materials
3.3.1.4 Increase in the residential sector
3.3.2 Industry pitfalls & challenges
3.3.2.1 Availability of substitutes
3.3.2.2 Concerns related to deforestation
3.4 Growth potential analysis
3.5 Porter’s analysis
3.6 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix
Chapter 5 Market Estimates & Forecast, By Wood Type, 2021 – 2032, (USD Million)
5.1 Key trends
5.2 Pressure treated wood
5.3 Redwood
5.4 Cedar
5.5 Tropical hardwood
5.6 Wood-plastic composites
5.7 Others (Mahagony, teak, tigerwood, etc.)
Chapter 6 Market Estimates & Forecast, By Category, 2021 – 2032, (USD Million)
6.1 Key trends
6.2 Indoor
6.3 Outdoor
Chapter 7 Market Estimates & Forecast, By Application, 2021 – 2032, (USD Million)
7.1 Key trends
7.2 Railing
7.3 Floor
7.4 Wall
7.5 Others
Chapter 8 Market Estimates & Forecast, By End User, 2021 – 2032, (USD Million)
8.1 Key trends
8.2 Residential
8.2.1 New construction
8.2.2 Remodelling
8.3 Commercial
8.3.1 New construction
8.3.2 Remodelling
Chapter 9 Market Estimates & Forecast, By Distribution Channel, 2021 – 2032, (USD Million)
9.1 Key trends
9.2 Direct sales
9.3 Indirect sales
Chapter 10 Market Estimates & Forecast, By Region, 2021 – 2032, (USD Million)
10.1 Key trends
10.2 North America
10.2.1 U.S.
10.2.2 Canada
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 France
10.3.4 Italy
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 China
10.4.2 India
10.4.3 Japan
10.4.4 South Korea
10.4.5 Australia
10.4.6 Rest of Asia Pacific
10.5 Latin America
10.5.1 Brazil
10.5.2 Mexico
10.5.3 Rest of Latin America
10.6 MEA
10.6.1 UAE
10.6.2 Saudi Arabia
10.6.3 South Africa
10.6.4 Rest of MEA
Chapter 11 Company Profiles (Business Overview, Financial Data, Product Landscape, Strategic Outlook, SWOT Analysis)
11.1 Alfresco Floors
11.2 AZEK Building Products
11.3 DuraLife
11.4 Fiberon
11.5 Humboldt Redwood Company
11.6 Inovar Floors
11.7 James Latham PLC
11.8 Kebony
11.9 Koppers
11.10 Metsa Group
11.11 Thermory AS
11.12 Trex Company, Inc.
11.13 UPM
11.14 United Construction Products
11.15 Universal Forest Products
11.16 Vetedy Group
11.17 West Fraser
11.18 Weyerhaeuser Company
- Alfresco Floors
- AZEK Building Products
- DuraLife
- Fiberon
- Humboldt Redwood Company
- Inovar Floors
- James Latham PLC
- Kebony
- Koppers
- Metsa Group
- Thermory AS
- Trex Company, Inc.
- UPM
- United Construction Products
- Universal Forest Products
- Vetedy Group
- West Fraser
- Weyerhaeuser Company
Autonomous Construction Equipment Market Size - By Product (Earthmoving & Roadbuilding Equipment, Material Handling and Cranes, Concrete Equipment), By Autonomy (Semi-Autonomous, Fully Autonomous), Forecast 2024 - 2032
Autonomous Construction Equipment Market Size
Autonomous Construction Equipment Market was valued at USD 8.8 billion in 2023 and is estimated to register a CAGR of over 7.5% between 2024 and 2032. The surge in infrastructure development projects and the construction industry is driving business growth. The increase in construction projects leads to higher demand for equipment to carry out various activities such as excavation, material handling, and transportation.
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The improved efficiency and productivity of autonomous equipment are fueling the adoption of autonomous construction equipment. Autonomous equipment can function continuously for lengthy periods of time without needing breaks or becoming fatigued. This results in reduced downtime and allows projects to be finished faster. Autonomous equipment collects real-time data from the workplace using sensors and smart algorithms. This data enables the equipment to improve its performance by selecting the most efficient path, maintaining constant speeds, and reducing material waste. Autonomous equipment can conduct repeated operations with great accuracy and consistency. This lowers mistakes and rework, resulting in a higher-quality finished product and less wasted time and materials.
| Report Attribute | Details |
|---|---|
| Base Year | 2023 |
| Autonomous Construction Equipment Market Size in 2023 | USD 8.8 Billion |
| Forecast Period | 2024-2032 |
| Forecast Period 2024-2032 CAGR | 7.5% |
| 032 Value Projection | USD 17.1 Billion |
| Historical Data for | 2021-2023 |
| No. of Pages | 200 |
| Tables, Charts & Figures | 389 |
| Segments covered | Product, Autonomy |
| Growth Drivers |
|
| Pitfalls & Challenges |
|
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The high equipment cost of autonomous construction equipment poses a major challenge to the market, potentially slowing down its growth. The technology that powers autonomous construction equipment is sophisticated, incorporating advanced sensors, high-performance processing systems, and specialized software. Integrating them with the current gear or creating whole new autonomous models greatly raises the initial cost as compared to traditional equipment. Smaller construction enterprises with low budgets may find it difficult to justify the high initial cost, especially if the return period is longer. They may not get an instant sufficient return on their investment to justify the initial high cost.
As autonomous construction equipment is a relatively new technology, its performance and long-term advantages remain questionable. Construction businesses may be cautious about making such a huge expenditure without a clear assurance of the technology’s performance and return.
Autonomous Construction Equipment Market Trends
Autonomous construction equipment is witnessing significant technological advancements. Sensor advancements, such as LiDAR, radar, and high-resolution cameras, enable autonomous equipment to accurately and precisely sense its surroundings. This allows them to better navigate complicated building sites, recognize barriers & risks, and execute accurate operations. The development of faster and more powerful computers, along with advances in Artificial Intelligence (AI), enables autonomous equipment to handle complicated tasks, make real-time choices based on sensor data, and continually learn and improve performance over time. Wireless communication advancements such as 5G allow for smooth data interchange between autonomous equipment, control centers, and other construction machines. This enables greater coordination, remote monitoring, and real-time operational optimization.
Autonomous Construction Equipment Market Analysis
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Based on product, the earthmoving & roadbuilding equipment segment is expected to hold around 52% of the market share by 2032. Earthmoving equipment are frequently used in repetitive operations such as excavating, hauling, grading, and paving. These predictable and controlled settings are suited for automation as they enable the creation of well-defined algorithms and operating rules for self-driving equipment. Construction sites for earthmoving and roadbuilding projects often have more regulated conditions than other construction segments, such as building construction. This decreases the amount of unknown variables that autonomous equipment must handle, making them easier to adopt and operate successfully.
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Based on the level of autonomy, the fully autonomous segment accounted for USD 3.6 billion market revenue in 2023. While the initial cost is greater, fully autonomous technology has the potential to provide considerable long-term cost reductions. This includes lower personnel expenses, less downtime, and more productivity, resulting in a faster return on investment. Fully autonomous equipment can work constantly, make real-time choices based on sensor data, and improve performance more effectively, resulting in increased production.
As the construction sector suffers a skilled labor crisis, fully autonomous equipment provides a feasible way to close the gap and keep projects on track. Fully autonomous equipment can eliminate human errors from the equation, possibly resulting in safer construction sites with fewer incidents and casualties.
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Asia Pacific is the fastest-growing region in the global autonomous construction equipment market, with a major share of around 40% in 2023. The APAC region, including China, India, and Japan, is experiencing a surge in infrastructure development projects, such as high-speed rail, bridges, power plants, and smart cities. This increase in building activity has created a considerable need for efficient construction technology, and autonomous equipment is ideally positioned to meet this demand. In addition, numerous APAC governments are supporting the use of modern construction technology such as autonomous equipment. This involves providing subsidies, incentives, and tax breaks to encourage developing businesses to invest in these technologies.
The U.S. has a strong network of high-speed internet, extensive connections, and a dynamic ecosystem of technology enterprises and research institutes. This makes it easier to seamlessly build, execute, and communicate with autonomous equipment. Along with this, the construction business in the U.S. promotes efficiency and worker safety. Autonomous equipment solves each of these problems by allowing for continuous operation, decreased downtime, and lesser human errors, resulting in speedier project completion and safer work environments.
European countries, including France, Germany, the UK, and the Netherlands, are witnessing significant growth in the autonomous construction equipment market. While the European Union as a whole is predicted to develop, Western Europe is likely to lead the way in the adoption of autonomous construction equipment due to a more sophisticated construction sector, more expenditure on infrastructure projects, and a stronger focus on innovations. Autonomous equipment can fill driver shortage by taking over monotonous jobs, enabling human workers to concentrate on more complicated ones.
Moreover, countries in the Middle East & Africa (MEA) region are witnessing several ambitious government-backed infrastructure projects, such as those in Saudi Arabia's Vision 2030 or the UAE upcoming Expo 2025. These large-scale projects often require high levels of efficiency and productivity, making autonomous equipment an attractive solution.
Autonomous Construction Equipment Market Share
Caterpillar, Volvo, Komatsu dominate the autonomous construction equipment industry. Caterpillar incorporates autonomous construction machinery into its suite of digital solutions, including Cat Connect, VisionLink, and Command, to deliver complete fleet management functionalities, remote monitoring features, and predictive maintenance options to clients for enhanced performance.
Volvo Construction Equipment dedicates significant resources to research & development efforts and engages in partnerships with technology firms, research bodies, and sector participants to pioneer innovation, validate technological advancements, and set benchmarks for autonomous construction machinery within the industry.
Autonomous Construction Equipment Market Companies
Major key players operating in the autonomous construction equipment industry are
- Bobcat Company
- Case Construction Equipment
- Caterpillar Inc.
- Doosan
- Hitachi Construction Machinery Co., Ltd.
- Komatsu Ltd.
- Royal Truck & Equipment
- Sany Group
- Topcon Corporation
- Volvo Construction Equipment
Autonomous Construction Equipment Industry News
- In May 2024, Develon premiered its autonomous Concept-X 2.0 in Europe at the Intermat Paris 2024 exhibition. This cutting-edge technology was showcased through the DD100-CX autonomous dozer and DX225-CX autonomous crawler excavator, marking a significant debut for Develon in Europe. The Concept-X 2.0 represented the company's commitment to innovation and sustainability in the construction equipment industry, highlighting its focus on advanced autonomous solutions.
- In December 2023, SafeAI introduced autonomous vehicles to work sites, aiming to revolutionize the construction and mining sectors. By equipping vehicles with a multimodal sensor suite and leveraging AI and onboard computing power, SafeAI enables real-time decision-making, obstacle detection, and efficient navigation. This approach allows mining & construction companies to convert their existing fleets into autonomous assets, enhancing safety, productivity, and cost-effectiveness on site.
This autonomous construction equipment market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue (USD Billion) and shipment (Units) from 2021 to 2032, for the following segments
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Market, By Product
- Earthmoving & Roadbuilding Equipment
- Backhoes
- Excavators
- Loaders
- Compaction equipment
- Others
- Material Handling and Cranes
- Storage and handling equipment
- Engineered systems
- Industrial trucks
- Bulk material handling equipment
- Concrete Equipment
- Concrete pumps
- Crushers
- Transit mixers
- Asphalt pavers
- Batching plants
Market, By Autonomy
- Semi-autonomous
- Fully autonomous
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Russia
- Nordics
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- ANZ
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- MEA
- South Africa
- UAE
- Saudi Arabia
- Rest of MEA
Table of Content
Report Content
Chapter 1 Methodology & Scope
1.1 Research design
1.1.1 Research approach
1.1.2 Data collection methods
1.2 Base estimates and calculations
1.2.1 Base year calculation
1.2.2 Key trends for market estimates
1.3 Forecast model
1.4 Primary research & validation
1.4.1 Primary sources
1.4.2 Data mining sources
1.5 Market definitions
Chapter 2 Executive Summary
2.1 Industry 3600 synopsis, 2021 - 2032
Chapter 3 Industry Insights
3.1 Industry ecosystem analysis
3.2 Supplier landscape
3.2.1 Raw material providers
3.2.2 Component providers
3.2.3 Manufacturer
3.2.4 Distributors & dealers
3.2.5 End-user
3.3 Profit margin analysis
3.4 Technology & innovation landscape
3.5 Patent analysis
3.6 Key news & initiatives
3.7 Regulatory landscape
3.8 Impact forces
3.8.1 Growth drivers
3.8.1.1 Surge in infrastructure development projects and the construction industry
3.8.1.2 Increasing focus on worker safety and labor shortages
3.8.1.3 Improved efficiency and productivity of autonomous equipment
3.8.1.4 Advancements in sensors, automation, and connectivity technology
3.8.1.5 Growing government support and incentives
3.8.2 Industry pitfalls & challenges
3.8.2.1 High equipment cost of autonomous construction equipment
3.8.2.2 Safety and cybersecurity concerns
3.9 Growth potential analysis
3.10 Porter’s analysis
3.11 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix
Chapter 5 Market Estimates & Forecast, By Product, 2021 - 2032 ($Bn, Units)
5.1 Key trends
5.2 Earthmoving & roadbuilding equipment
5.2.1 Backhoes
5.2.2 Excavators
5.2.3 Loaders
5.2.4 Compaction equipment
5.2.5 Others
5.3 Material handling and cranes
5.3.1 Storage and handling equipment
5.3.2 Engineered systems
5.3.3 Industrial trucks
5.3.4 Bulk material handling equipment
5.4 Concrete equipment
5.4.1 Concrete pumps
5.4.2 Crushers
5.4.3 Transit mixers
5.4.4 Asphalt pavers
5.4.5 Batching plants
Chapter 6 Market Estimates & Forecast, By Autonomy, 2021 - 2032 ($Bn, Units)
6.1 Key trends
6.2 Semi-autonomous
6.3 Fully autonomous
Chapter 7 Market Estimates & Forecast, By Region, 2021 - 2032 ($Bn, Units)
7.1 Key trends
7.2 North America
7.2.1 U.S.
7.2.2 Canada
7.3 Europe
7.3.1 UK
7.3.2 Germany
7.3.3 France
7.3.4 Spain
7.3.5 Italy
7.3.6 Russia
7.3.7 Nordics
7.3.8 Rest of Europe
7.4 Asia Pacific
7.4.1 China
7.4.2 India
7.4.3 Japan
7.4.4 South Korea
7.4.5 ANZ
7.4.6 Southeast Asia
7.4.7 Rest of Asia Pacific
7.5 Latin America
7.5.1 Brazil
7.5.2 Mexico
7.5.3 Argentina
7.5.4 Rest of Latin America
7.6 MEA
7.6.1 UAE
7.6.2 South Africa
7.6.3 Saudi Arabia
7.6.4 Rest of MEA
Chapter 8 Company Profiles
8.1 Action construction Equipment
8.2 AGCO Corporation
8.3 Arnikon
8.4 ASI Mining
8.5 Bobcat Company
8.6 Case Construction Equipment
8.7 Caterpillar Inc.
8.8 Daifuku Co, Ltd.
8.9 Doosan Infracore
8.10 Hitachi Construction Machinery Co., Ltd.
8.11 Husqvarna
8.12 John Deere
8.13 Komatsu Ltd.
8.14 Liebherr
8.15 Mahindra Construction Equipment
8.16 Royal Truck & Equipment
8.17 Sany Group
8.18 SBM Mineral Processing GmbH
8.19 Sumitomo Mitsui Construction Co., Ltd.
8.20 Volvo Construction Equipment
- Bobcat Company
- Case Construction Equipment
- Caterpillar Inc.
- Doosan
- Hitachi Construction Machinery Co., Ltd.
- Komatsu Ltd.
- Royal Truck & Equipment
- Sany Group
- Topcon Corporation
- Volvo Construction Equipment
Construction Trucks Market Size - By Trucks (Dump Trucks, Tractor-Trailer Trucks, Cargo Trucks, Specialized Trucks), By Propulsion (Diesel, Hybrid Electric), By Gross Vehicle Weight (GVW) (Below 15 Tons, 15-40 Tons, Above 40 Tons), & Forecast 2024 - 2032
Construction Trucks Market Size
Construction Trucks Market was valued at USD 49.9 billion in 2023 and is estimated to register a CAGR of over 4% between 2024 and 2032, due to ongoing infrastructure development across the globe. According to InfraTracker's findings, central governments of G20 countries put aside a whopping USD 1 trillion for infrastructure investment in 2022. That constitutes about 1% of the total GDP of all the G20 nations or a whopping 4.6% of the total budget expenditure of G20 central governments.
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Government investments in infrastructure help improve public services, creating a surge in demand for construction trucks. With more funding available, construction projects kick into high gear, creating a greater need for vehicles like dump trucks, cement mixers, and excavators. This increased demand not only keeps the construction truck industry thriving but also encourages innovation and efficiency improvements in truck technology to meet the changing project requirements and environmental standards.
| Report Attribute | Details |
|---|---|
| Base Year | 2023 |
| Construction Trucks Market Size in 2023 | USD 49.9 Billion |
| Forecast Period | 2024 - 2032 |
| Forecast Period 2024 - 2032 CAGR | 4% |
| 2032 Value Projection | USD 72.9 Billion |
| Historical Data for | 2021 – 2023 |
| No. of Pages | 280 |
| Tables, Charts & Figures | 300 |
| Segments covered | Trucks, Propulsion, Gross Vehicle Weight (GVW) |
| Growth Drivers |
|
| Pitfalls & Challenges |
|
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Complying with stringent emissions standards and safety regulations imposes significant burdens on manufacturers and operators in the construction trucks market. Meeting these standards often necessitates costly technology upgrades or redesigns, driving up manufacturing costs. This challenge requires substantial investments in research and development to develop and implement compliant solutions while ensuring that vehicles meet regulatory requirements without compromising performance or affordability.
Construction Trucks Market Trends
Technological upgrades will help pave a healthy growth pathway for the construction trucks industry in the long run. Technological progress has resulted in the creation of construction trucks that are both more effective and eco-friendly. The incorporation of features like GPS tracking, telematics, automated systems, and hybrid or electric engines into construction trucks has become more prevalent, improving their capabilities, and cutting down on operational expenses
Construction Trucks Market Analysis
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Based on Gross Vehicle Weight (GVW), the above 40 tons segment is expected to cross over USD 30 billion by 2032, due to increasing demand for heavy-duty vehicles capable of handling large-scale construction projects and heavy materials. Infrastructure development initiatives, and expansion in industrial sectors are driving the need for trucks with higher hauling capacities, spurring growth in this segment as companies seek to enhance efficiency and productivity in their operations.
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Based on propulsion, the diesel segment accounted for a market share over 83% in 2023. Diesel engines are known for their high-power output, making them ideal for heavy-duty construction applications. Additionally, diesel fuel tends to offer better fuel economy and longer driving time compared to some other fuels. Also, the wide availability of diesel fuel and the familiarity of operators and maintenance personnel with diesel engines contribute to the continued demand for the construction industry.
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Asia Pacific region dominated the 45% share of the construction trucks market in 2023. Rapid urbanization and infrastructure projects in countries such as China, India, and Southeast Asia are driving demand for construction vehicles. Government policies aimed at increasing investment in infrastructure further fuel this growth. Furthermore, the increasing adoption of advanced technologies and escalating construction activities in residential, commercial, industrial construction, etc., contribute to the expansion of the industry
Increasing investments in infrastructure projects, driven by government initiatives such as the proposed infrastructure bill, stimulate demand for construction trucks in U.S. Additionally, robust residential and commercial construction activity, fueled by population growth and urbanization, contributes to market expansion. Technological advancements, including the adoption of electric and autonomous vehicles, further drive growth by enhancing efficiency and sustainability. These trends create opportunities for manufacturers and suppliers in the U.S. construction trucks market to meet rising demand and innovate to stay competitive.
Also, by harnessing technological prowess and strategic partnerships, several nations, including South Korea, Japan, France, Germany, the U.K., Canada, the Netherlands, the UAE, and Saudi Arabia, have captured a considerable market share. Their dedication to innovation and adherence to stringent quality standards have propelled them to the forefront of this competitive industry. Leveraging their expertise in engineering and manufacturing, these countries have carved out substantial market stakes, contributing significantly to the global construction trucks industry.
Construction Trucks Market Share
Caterpillar and Komatsu hold significant revenue share over 29% in construction trucks industry through their established reputation, extensive product offerings, and global presence. Caterpillar, a market leader known for its durable and high-performance equipment, offers a comprehensive range of construction trucks, including articulated trucks, rigid dump trucks, and off-highway trucks, catering to various construction applications.
Similarly, Komatsu, renowned for its innovative technology and reliable machinery, provides a wide array of construction trucks, such as rigid dump trucks and haul trucks, designed for efficiency and productivity. Both companies leverage their vast dealer networks, aftermarket support, and customer service to meet the diverse needs of construction projects worldwide. Additionally, their focus on research and development, coupled with strategic partnerships and acquisitions, reinforces their market dominance and positions them as preferred choices for contractors, developers, and fleet operators in the construction trucks segment.
Construction Trucks Market Companies
Major players operating in the construction trucks industry are
- Caterpillar Inc.
- Komatsu Ltd.
- Hitachi Construction Machinery Co., Ltd.
- Liebherr Group
- Volvo Group
- Terex Corporation
- XCMG Group
- SANY Group
- Doosan Corporation
- Hyundai Construction Equipment
Construction Trucks Industry News
- In April 2024, Sany India unveiled its latest innovation, the SKT105E Electric Dump Truck. This fully electric vehicle represents a significant step towards sustainability in the industry, offering environmentally friendly and efficient solutions for material transport in mining and construction operations.
- In August 2023, SANY Group unveiled a new line of energy dump trucks. This groundbreaking system seeks to revolutionize the industry with advanced features, enhanced performance, increased energy efficiency, reduced environmental footprint, and enhanced driving experience.
This construction trucks market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue ($Bn) and volume (Units) from 2021 to 2032, for the following segments
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Market, By Trucks
- Dump trucks
- Tractor-trailer trucks
- Cargo trucks
- Specialized trucks
- Others
Market, By Propulsion
- Diesel
- Hybrid electric
- Others
Market, By Gross Vehicle Weight (GVW)
- Below 15 Tons
- 15-40 Tons
- Above 40 Tons
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- ANZ
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- MEA
- UAE
- South Africa
- Saudi Arabia
- Rest of MEA
Table of Content
Report Content
Chapter 1 Methodology & Scope
1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 Industry 3600 synopsis, 2021 - 2032
Chapter 3 Industry Insights
3.1 Industry ecosystem analysis
3.2 Supplier landscape
3.2.1 Manufacturers
3.2.2 Technology providers
3.2.3 Raw material and component suppliers
3.3 Profit margin analysis
3.4 Technology & innovation landscape
3.5 Patent analysis
3.6 Key news & initiatives
3.7 Regulatory landscape
3.8 Impact forces
3.8.1 Growth drivers
3.8.1.1 Increasing investments in infrastructure projects.
3.8.1.2 Rapid urbanization and population growth
3.8.1.3 Surge in government initiatives and investments
3.8.1.4 Increasing technological advancements in trucks technology
3.8.2 Industry pitfalls & challenges
3.8.2.1 Stringent emissions standards and safety regulations
3.8.2.2 Fluctuating commodity prices can affect construction investments
3.9 Growth potential analysis
3.10 Porter’s analysis
3.10.1 Supplier power
3.10.2 Buyer power
3.10.3 Threat of new entrants
3.10.4 Threat of substitutes
3.10.5 Industry rivalry
3.11 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix
Chapter 5 Market Estimates & Forecast, By Trucks, 2021 - 2032 ($Bn, Units)
5.1 Key trends
5.2 Dump trucks
5.3 Tractor-trailer trucks
5.4 Cargo trucks
5.5 Specialized trucks
5.6 Others
Chapter 6 Market Estimates & Forecast, By Propulsion, 2021 - 2032 ($Bn, Units)
6.1 Key trends
6.2 Diesel
6.3 Hybrid electric
6.4 Others
Chapter 7 Market Estimates & Forecast, By Gross Vehicle Weight (GVW), 2021 - 2032 ($Bn, Units)
7.1 Key trends
7.2 Below 15 Tons
7.3. 15-40 Tons
7.4 Above 40 Tons
Chapter 8 Market Estimates & Forecast, By Region, 2021 - 2032 ($Bn, Units)
8.1 Key trends
8.2 North America
8.2.1 U.S.
8.2.2 Canada
8.3 Europe
8.3.1 UK
8.3.2 Germany
8.3.3 France
8.3.4 Spain
8.3.5 Russia
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 China
8.4.2 India
8.4.3 Japan
8.4.4 South Korea
8.4.5 ANZ
8.4.6 Southeast Asia
8.4.7 Rest of Asia Pacific
8.5 Latin America
8.5.1 Brazil
8.5.2 Mexico
8.5.3 Argentina
8.5.4 Rest of Latin America
8.6 MEA
8.6.1 UAE
8.6.2 South Africa
8.6.3 Saudi Arabia
8.6.4 Rest of MEA
Chapter 9 Company Profiles
9.1 Caterpillar
9.2 Daimler Trucks
9.3 Hitachi Construction Machinery
9.4 Iveco
9.5 Kenworth
9.6 Komatsu
9.7 Liebherr
9.8 Mack Trucks
9.9 MAN Truck & Bus
9.10 Navistar International
9.11 Oshkosh Corporation
9.12 Paccar
9.13 Peterbilt
9.14 SANY
9.15 Scania
9.16 Tata Motors
9.17 Terex
9.18 Volvo Construction Equipment
9.19 Western Star
9.20 XCMG
- Caterpillar Inc.
- Komatsu Ltd.
- Hitachi Construction Machinery Co., Ltd.
- Liebherr Group
- Volvo Group
- Terex Corporation
- XCMG Group
- SANY Group
- Doosan Corporation
- Hyundai Construction Equipment
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