Portland, OR, March 07, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global kinetic tiles market garnered $28.9 million in 2021, and is estimated to generate $44.0 million by 2031, manifesting a CAGR of 4.5% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.
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Report coverage and details:
| Report coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $28.9 million |
| Market Size in 2031 | $44.0 million |
| CAGR | 4.5% |
| No. of Pages in Report | 310 |
| Segments covered | Floor mechanism, Shape, Application, and Region |
| Drivers | Rising awareness related to clean energy in the developing nations |
| Growing requirement of energy and the limited resource of traditional energy sources | |
| Decreased prices for kinetic tiles | |
| Accelerating adoption of kinetic tiles through tax cuts, awarding strategies for people | |
| Opportunities | Developments related to kinetic tiles technology to increase the potential of tiles in gather power from higher energy producing sources such as airport runways and railroad tracks |
| Restraints | Downsides such as loose wiring issues, low efficiency, and less reliable design which result in low energy out. |
| High cost of installation |
Covid-19 Scenario:
- The COVID-19 situation had drastically decreased the production of kinetic tiles products, caused raw material storage and led to shut down of distribution facilities.
- Post COVID-19, most players are hopeful of a quick recovery as infrastructural projects have decided for the energy transmission to renewable sources which boosts the demand for kinetic tiles in the near future.
The research provides detailed segmentation of the global kinetic tiles market based on floor mechanism, shape, application, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
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Based on floor mechanism, piezoelectric segment held the highest share in 2021, accounting for nearly three-fifths of the global kinetic tiles market, and is expected to continue its leadership status during the forecast period. This segment is expected to register the highest CAGR of 4.8% from 2022 to 2031. The report also analyzes magnetic, generators, and static segments.
Based on shape, the triangle segment accounted for the highest share in 2021, contributing to more than four-fifths of the global kinetic tiles market, and is expected to maintain its lead in terms of revenue during the forecast period. This segment is expected to register the highest CAGR of 4.6% from 2022 to 2031. The report also analyzes square segment.
Based on application, the footpaths segment accounted for the highest share in 2021, holding more than one-third of the global kinetic tiles market, and is expected to continue its leadership status during the forecast period. Also, the same segment is estimated to grow at the highest CAGR of 5.2% during the forecast period. The report also analyzes dance floors, public places, and athletics field and courts.
Based on region, Europe held the largest share in 2021, contributing to nearly two-fifths of the global kinetic tiles market share, and is projected to maintain its dominant share in terms of revenue in 2031. Also, the same region is expected to manifest the fastest CAGR of 4.9% during the forecast period. The report also analyzes North America, Asia Pacific, and LAMEA regions.
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Leading market players of the global kinetic tiles market analyzed in the research include ENGOPLANET ENERGY SOLUTIONS LLC, Ok.Power, studio roosegaarde, Energy Floors, Global Energy Harvest Co., ECO RENEWABLE ENERGY, Kinergypower, POWERleap Inc., Pavegen, Shaw Industries Group, Inc.
The report provides a detailed analysis of these key players of the global kinetic tiles market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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