Rockville, Nov. 16, 2022 (GLOBE NEWSWIRE) -- According to Fact.MR, market research, and competitive intelligence provider, the global concrete restoration services market is expected to grow at a CAGR of 5.3% and reach a valuation of US$ 15.9 billion by the end of 2032.
Global spending on infrastructure development and restoration has been on the rise in the last few years. In terms of growth, most of the demand for restoration services is expected to rise form the Asia Pacific region. Countries such as India and China are expected to lead from the front for the overall demand for concrete restoration services. Both India and China are two of the leading concrete producers as well as consumers in the world.
The concrete restoration industry may face some heat from the stringent rules and regulations set out by governments across the world for the restoration of many roads and bridges. This will result in lower demand for concrete restoration services and ultimately lead to low top line numbers.
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Key Takeaways from Market Study
- The global concrete restoration services market expanded at 4.5% during the historic period (2017-2021).
- The market is projected to reach US$ 15.9 billion by 2032, expanding at a CAGR of 5.3%.
- Bridges concrete restoration services account for 38% of the total demand.
- North America accounts for a leading share of 29% of the global concrete restoration services market.
“Sustainable infrastructure development will shape the future of the concrete restoration market,” says a Fact.MR analyst.
Segmentation of Concrete Restoration Services Industry Research
- By End-use Application :
- Bridges
- Roadways
- Buildings
- Parking Garages
- Industrial Facilities
- Water Treatment
- Others
- By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
Will the U.S. Continue to Lead Demand for Concrete Restoration Services?
The use of concrete in overall construction in the U.S. is one of the highest among all developed countries. Also, the average age of iconic buildings and bridges in the U.S. is one of the highest in the world.
Initiatives by the U.S. government to repair and restore the existing construction have led to an increase in the demand for concrete restoration services. The U.S. concrete restoration services market is expected to reach a valuation of US$ 2.3 billion in 2022.
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Rising Pressure on Existing Infrastructure Due to Increasing Population
The global population is rising continuously, though in percentage terms it is only 0.84%. However, in terms of numbers, we are adding 65-70 million people every year, which is creating pressure on the existing infrastructure.
Every year a new set of different vehicles comes onto the roads, ultimately creating pressure on bridges, roadways, and parking spaces, among others. Continuous rising pressure of the population creates wear and tear and the need for concrete repair and restoration arises. Pillar filling, floor restoration, and roof repair are some of the common services provided by concrete restoration companies.
Market development
The concrete restoration services market is highly competitive due to the presence of many large- and small-scale enterprises meeting customers’ demands. No single company holds more than 5% of the market share.
In the past few years, the industry did not have any notable mergers and acquisitions. However, the overall restoration services market is witnessing the adoption of new technology in day-to-day operations, which is helping market players service clients in a better way.
Key Companies Profiled
- A-1 Concrete Leveling & Foundation Repair
- Banks Industrial Group, LLC.
- Concrete Repairs Ltd.
- Concrete Restoration Services
- CRM Construction Inc.
- Daniello and Associates, Inc.
- Durable Surfaces
- Hystrength Construction Co. Inc.
- Rapid Concrete Solutions, Inc.
- Sabrecon Corporation
- Sealability Ltd
- Snapp Industries, Inc.
- Sterling Technotrade India Pvt Ltd
- Tarlton Corporation
- Total Restoration Services
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global concrete restoration services market, presenting historical market data (2017-2021) and forecast statistics for the period of (2022-2032).
The study reveals essential insights on the basis of end-use application (bridges, roadways, buildings, parking garages, industrial facilities, water treatment, others (not mentioned elsewhere)) and major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
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