New York, USA, July 14, 2021 (GLOBE NEWSWIRE) -- Research Dive has added a report on the India AAC blocks and non-reinforced panels market to its repository. The report states that the market is estimated to hit INR 11095.0 crores by 2027 and grow with a CAGR of 14.3% from 2020 to 2027. The report is an in-depth study presenting thorough lookout of the present scenario and future perspective of the market. The report is articulated by veteran market analysts and assures to be a reliable source of data, recent trends, and all-encompassing market insights for new entrants, investors, existing market players, stakeholders, shareholders, etc.
Impact of COVID-19 Pandemic on the Market
The outbreak of the COVID-19 pandemic has had a negative impact on the growth of the India AAC blocks and non-reinforced panels market. The pandemic has restricted the commercial and industrial activities of the market with an aim to prevent the spread of the COVID-19 infection. The cessation of construction projects, disruptions in the production of raw materials, growing economic burden on constructers, and disturbances in supply chains of materials and construction equipment during the lockdown period has deteriorated the market growth. Numerous market participants are taking various initiatives to sustain their market position during the crisis period. Such initiatives by market participants are propelling the market growth.
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Factors Impacting the Market Growth
Significant development in urbanization and industrialization in India, growing need for lightweight construction materials, surging demand for pocket-friendly houses, rising advances in the construction industry, and surging focus on the establishment of eco-friendly and soundproof structures are propelling the India AAC blocks and non-reinforced panels market growth. Additionally, the increasing demand for commercial, residential, and industrial infrastructures is expected to unlock rewarding opportunities for the market growth during the forecast period. However, dearth of knowledge about AAC blocks and their high cost are expected to hinder the growth of the market.
The report segments the India AAC blocks and non-reinforced panels market based on product type, end use, and city.
AAC Blocks Sub-Segment to Observe Highest Growth
The AAC blocks sub-segment of the product type segment is anticipated to experience highest growth and hit INR 1,894.9 crores by 2027. This growth is mostly attributed to the widespread demand for AAC blocks owing to the growing number of construction projects in India.
Residential Sub-Segment to Observe Remarkable Growth
The residential sub-segment of the end use segment is anticipated to observe noteworthy growth and garner INR 983.2 crores during the estimated period. This growth is mostly attributed to the increasing demand for AAC blocks as well as non-reinforced panels in the development of residential buildings.
Connect with Analyst to Reveal How COVID-19 Impacting On Market: https://www.researchdive.com/connect-to-analyst/8393
Hyderabad AAC Blocks and Non-Reinforced Panels Market to Dominate the Market
The report analyzes the India AAC blocks and non-reinforced panels market across various cities including Bangalore, Hyderabad, and Chennai. Among these, the Hyderabad AAC blocks and non-reinforced panels market is projected to dominate the market by surpassing INR 1,411.5 crores during the estimated period. The growth of this region market is mainly due to the growing initiatives by government for promoting green buildings in this city.
The report also offers several industry-top strategies and tactics like top tactical initiatives & advances, new launch of product/AAC blocks range, business performance, Porter five forces analysis, and SWOT analysis of the leading players, operating in the industry. For instance, on 12th December 2020, Austin, a foremost plywood company, launched its AAC blocks in the presence of its Chairman Pradeep Agarwal and music icon Zubeen Garg.
Porter’s Five Forces Analysis for the India AAC Blocks and Non-Reinforced Panels Market
- Bargaining Power of Suppliers: The suppliers in the AAC blocks and non-reinforced panels market are moderate in number. Several companies are working on product designs that use different raw materials to avoid changing the supplier if the there is a hike in the price of a particular material. Thus, there is less threat from the suppliers.
Thus, the bargaining power suppliers is low. - Bargaining Power of Buyers: Buyers have moderate bargaining power; they demand best services at low prices. This increases the pressure on the AAC blocks and non-reinforced panels to offer good service in a cost-effective way. Thus, buyers can freely choose the convenient service that best fits their preference.
Thus, the bargaining power of the buyers is moderate. - Threat of New Entrants: Companies entering the AAC blocks and non-reinforced panels market are adopting new and sustainable technologies. Also, these companies are implementing various effective strategies such as offering discounts and value propositions.
Thus, the threat of the new entrants is high. - Threat of Substitutes: There is no alternative product for application security solutions.
Thus, the threat of substitutes is low. - Competitive Rivalry in the Market: The competitive rivalry among industry leaders is rather intense. These companies are coming up with new innovations and strategies.
Therefore, competitive rivalry in the market is high.
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