Portland,OR, Sept. 11, 2023 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Construction Aggregates Market By Type (Crushed Stone, Sand And Gravel), By Application (Non-Residential, Residential), By Transportation Mode (Truck, Train, Ship): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global construction aggregates industry generated $375.3 billion in 2021, and is anticipated to generate $667.8 billion by 2032, witnessing a CAGR of 5.2% from 2023 to 2032.
Aggregates represent the most extensively mined granular product globally and constitute the fundamental building block of composite materials like concrete and asphalt concrete. These materials are sourced from natural deposits such as granite, limestone, and gravel through methods such as precise drilling and controlled blasting. These aggregates serve as foundational materials beneath airport runways, highways, railways, and parking lots. Additionally, they find application in water filtration, purification processes, and in mitigating soil erosion.
Download PDF Sample: https://www.alliedmarketresearch.com/request-sample/8352
Prime determinants of growth
A rise in the construction & infrastructure industry, growth in focus on public-private partnerships (PPP), and technological advancements in construction machinery drive the growth of the global construction aggregates market. However, the high initial investments and strict government regulations in the construction industry restrict the market growth. Moreover, a rise in efforts toward sustainability across developed and developing economies presents new opportunities in the coming years.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Historic Year | 2021 |
| Market Size in 2021 | $375.2 billion |
| Market Size in 2022 | $398.5 billion |
| Market Size in 2032 | $667.8 billion |
| CAGR | 5.2% |
| No. of Pages in Report | 192 |
| Segments covered | Type, Application, Transportation Mode, and Region. |
| Drivers | Rise in construction & infrastructure industry Growth in focus on public-private partnerships (PPP) Technological advancements in construction machinery |
| Opportunities | Rise in efforts toward sustainability |
Restraints | Strict government regulations in construction industry High initial investments |
Covid-19 Scenario
- The outbreak of the Covid-19 pandemic had a negative impact on the global construction aggregates market, owing to temporary closure of construction aggregates manufacturing firms during the lockdown.
- Not only the production but also the sale of construction aggregates was hampered due to the closure of construction sector across the world, especially in the initial period of the pandemic.
The sand and gravel segment to maintain its leadership status throughout the forecast period
Based on type, the sand and gravel segment held the highest market share in 2022, accounting for more than half of the global construction aggregates market revenue and is estimated to maintain its leadership status throughout the forecast period. Sand and gravel are used for road construction and the production of different construction materials such as pipes, bricks, and concrete blocks. Rapid urbanization and growth in demand for construction materials in different developing countries drive demand for sand and gravel, which is the crucial ingredient. However, crushed stone segment is projected to manifest the highest CAGR of 5.4% from 2023 to 2032. Crushed stone is used for road building, concrete aggregates, and different chemical applications. Demand for crushed stones is growing, owing to demand from building & construction, and transport infrastructure sectors for different applications such as roadway construction and manufacturing of concrete.
Buy This Research Report (192 Pages PDF with Insights, Charts, Tables, Figures): https://www.alliedmarketresearch.com/checkout-final/98b37a6569072d23cf7008569c3d1a28
The non-residential segment to maintain its leadership status throughout the forecast period
Based on application, the non-residential segment held the highest market share in 2022, accounting for more than three-fifths of the global construction aggregates market and is estimated to maintain its leadership status throughout the forecast period. Commercialization, urbanization, and industrialization have led to the construction of new and luxurious office spaces in major cities of various countries. In addition, several new airports and malls are being built in various countries as a part of development programs. However, the residential segment is projected to manifest the highest CAGR of 5.5% from 2023 to 2032. The saturation of major cities has led governments to expand the boundaries of existing cities or planning of a completely new city to balance the development and economy of all parts of a country. Such expansion and set-up plans for new cities are expected to lead to the construction of new residential projects, which eventually provide lucrative opportunities for the growth of the construction aggregate market.
The truck segment to maintain its lead position during the forecast period
Based on transportation mode, the truck segment accounted for the largest share in 2022, contributing to more than 90% of the global construction aggregates market revenue, and is projected to maintain its lead position during the forecast period. Growth in funding by governments for infrastructure and technological enhancements of vehicles is the major factor that drives demand for trucks for construction applications. In addition, the rise in mining activities is another factor positively impacting the growth of the market. Development in mining and construction ventures has led to higher acknowledgment of rough terrain vehicles. Moreover, last mile transportation is only possible via trucks. However, the train segment is expected to portray the largest CAGR of 8.1% from 2023 to 2032. Trains allow a large volume of aggregates to be transported at a relatively lower cost. This is a major driver of this segment. In future, the demand for aggregates is anticipated to increase substantially, and trains are expected to play a major role in transporting aggregates from remote location to the urban areas.
Asia-Pacific to maintain its dominance by 2032
Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for nearly three-fourths of the global construction aggregates market revenue, and is likely to dominate the market during the forecast period. Countries such as India, China, Singapore, Vietnam, and Indonesia have been recognized as important markets, owing to rapidly increasing construction activities in these countries. Thus, rapid construction growth is a result of high population growth and urbanization rate in these countries. Thus, improvement in the overall growth of construction activities in Asia-Pacific is expected to create opportunities for growth of the construction aggregates market. However, the LAMEA region is expected to witness the fastest CAGR of 6.2% from 2023 to 2032. LAMEA presents many growth opportunities to the construction aggregates market growth, owing to the high urban population in Latin America, the high construction rate in the Middle East, and the high rate of population growth and urbanization in Africa.
Inquire Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/8352
Leading Market Players: -
- Adelaide Brighton Ltd.
- CEMEX S.A.B. de C.V.
- CRH plc
- Heidelberg Cement AG
- HOLCIM
- Martin Marietta Materials Inc.
- ROGERS GROUP INC.
- SIKA Group
- Vicat SA
- Vulcan Materials Company
The report provides a detailed analysis of these key players in the global construction aggregates market. These players have adopted different strategies such as new product launches, expansion, and acquisition 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.
Trending Reports in Construction Industry (Book Now with 15% Discount):
Aggregate Dryers Market: Global Opportunity Analysis and Industry Forecast, 2023-2032
Construction stone Market: Global Opportunity Analysis and Industry Forecast, 2023-2032
Residential Construction Market: Global Opportunity Analysis and Industry Forecast, 2023-2032
Road Construction Services Market: Global Opportunity Analysis and Industry Forecast, 2023-2032
Sustainable Construction Market: Global Opportunity Analysis and Industry Forecast, 2023-2032
About Allied Market Research:
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.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact Us:
United States
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
help@alliedmarketresearch.com
Follow Us on | Facebook | LinkedIn | YouTube
