Portland, OR, Oct. 11, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global spraying & plastering machine market generated $2.5 billion in 2020, and is projected to reach $4.5 billion by 2030, witnessing a CAGR of 6.1% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
Rise in government expenditures for infrastructural development, development in manufacturing technology, and lack of skilled labor in developed countries drive the growth of the global spraying & plastering machine market. However, high initial investments and use of alternative building materials restrain the market to some extent. On the other hand, need for reduced construction time and cost-effective products present new opportunities in the upcoming years.
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COVID-19 scenario:
- The outbreak of the COVID-19 pandemic led to global lockdown and temporary closure of the construction, manufacturing, hotel, and tourism industries across the world.
- It further disrupted the whole supply chain, leading to difficulty in supply of raw materials .This, in turn, affected the market demand and reduced sales.
- Nevertheless, all the industries are gradually resuming their regular manufacturing and services. This is expected to lead to re-initiation of spraying & plastering machine companies at their full-scale capacities, which is expected to help the spraying & plastering machine market to recover by end of 2021.
The report offers detailed segmentation of the global spraying & plastering machine market based on equipment type, sales type, construction type, application, end user, and region.
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Based on equipment type, the spraying segment held the highest market share in 2020, holding three-fifths of the total market share, and is expected to continue its leadership status during the forecast period. However, the plastering segment is estimated to register the highest CAGR of 6.3% from 2021 to 2030.
Based on end user, the non-residential segment held the largest market share in 2020, holding nearly three-fourths of the total market share, and is expected to continue its leadership status during the forecast period. However, the residential segment is projected to register the highest CAGR of 6.5% from 2021 to 2030.
Based on region, Europe contributed to the highest share in terms of revenue in 2020, holding around two-fifths of the total market share, and is estimated to continue its dominant share by 2030. However, LAMEA is projected to manifest the fastest CAGR of 7.6% during the forecast period.
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Leading Players:
Leading players of the global spraying & plastering machine market analyzed in the research include ACME Equipment Pte Ltd, FILAMOS, s. r. o., IMER International SpA, Kappa Building Machines Pvt. Ltd, Normet, Sany Group (Putzmeister), Schwing Stetter Group, Sika AG, Titan Ltd., and Zhengzhou Sincola Machinery Co., Ltd.
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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.
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.
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