Wilmington, Delaware, United States, Nov. 03, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - In 2021, the value of global screw piles market was clocked at US$ 928.9 Mn. Screw piles market analysis is likely to rise at 5.5% CAGR during the forecast period, from 2022 to 2031 It is projected that by 2031, the global screw piles market is likely to touch value of US$ 1.56 Bn. In the forthcoming years, it is projected that an increase in infrastructural development and construction activities throughout the world will increase demand for various pieces of construction equipment, including screw piles and piling machines. In order to meet growing demand from a variety of end-use sectors, including agriculture, building & construction, and marine, suppliers of different screw piles types are placing a strong emphasis on innovation and R&D in screw piles.
Screw piles can be installed more quickly, more precisely, and without the vibrations and noise that come with pile drivers. In earthquake-prone locations and for electric transmission line towers, screw piles are expected to gaining more popularity. By creating novel goods like the RS (round shaft) type, market players can take advantage of incremental opportunities and expand their global share.
North America is expected to lead the screw piles market growth in the forthcoming years. The North America market is anticipated to grow owing to rising need for speedy installation and cost-efficient, high-quality load-bearing anchors. Regional screw pile manufacturers & suppliers can take advantage of lucrative development possibilities due to expansion of construction activities in North America and rising use of screw piles there.
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Key Findings of Market Report
- A tremendous demand for residential constructions is anticipated as a result of the urban population's massive rise. Developing countries are investing more money in a variety of construction projects to strengthen their economies. In addition, new office buildings, hotels, retail stores, as well as entertainment facilities are being built. The demand for screw piles is expected to increase over the next few years as a result of robust, steady expansion in the industrial, non-residential, and residential sectors.
- A number of countries are making major investments in infrastructure development, including railroads, roads, and bridges, as well as in healthcare and education. The benefits of screw piles, including their instant load carrying capacity, low site disruption, rapid installation, and load bearing capacity, are expected to add to the market's expansion over the coming few years.
- Depending on types, the category of RS (round shaft) type screw piles is anticipated to lead the global market in the forthcoming years. The segment is expected to account for considerable screw piles market share. Greater structural load bearing capability is made possible by the larger diameter of round shaft type screw piles. As a result, these screw piles are increasingly favored in a variety of industries, including construction and agriculture.
- China is anticipated to invest more than $5.13 trillion in building projects in the Asia-Pacific region in the forthcoming years, which is likely to be good news for the local economy. This factor is expected to augur well for the Asia Pacific in the years to come.
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Global Screw Piles Market: Key Players
Some of the key market players are
- GoliathTech Corporation
- Patriot Foundation Systems
- TorcSill Foundations LLC
- Pier Tech Systems LLC
- Techno Metal Post Inc.
- Hubbell Incorporated
Global Screw Piles Market: Segmentation
Type
- SS-RS Combinations Type Screw Piles
- SS (Square Shaft) Type Screw Piles
- RS (Round Shaft) Type Screw Piles
- Helical Grouted Displacement Piles (HGD Piles)
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Application
- Residential & Commercial Buildings
- Utility
- Railways, Roadways, Bridges, etc.
- Marine
- Others
Distribution Channel
- Direct Sales
- Indirect sales
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