Pune, India., May 10, 2023 (GLOBE NEWSWIRE) -- According to our latest study on "Raised Floor Market Size Report, Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Application, and Geography,” the market is projected to grow from US$ 1,283.52 million in 2022 to US$ 1,842.65 million by 2028; it is estimated to record a CAGR of 6.5% from 2023 to 2028.
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Global Raised Floor Market: Competitive Landscape and Key Developments
Kingspan Group Plc; MERO-TSK International GmbH & Co. KG; GAMMA Industries SAS; Lindner Group; Changzhou Huateng Access Floor Co Ltd; Mero Asia Pacific Pte Ltd; ASP Access Floors Pty Ltd; ASM Modular Systems Inc; and HUATONG XINLI FLOORING CO., LTD. are among the leading raised floor market players profiled in the report. Several other essential market players were analyzed for a holistic view of the market and its ecosystem. The report provides detailed market insights, which help the key raised floor market players strategize their growth. A few developments are mentioned below:
In 2022, Kingspan announced the acquisition of Troldtekt A/S, a manufacturer of sustainably produced wood-based acoustic boards. It gives the Group a technology platform for developing natural solutions for other applications.
In 2020, Jiangsu Huilian Access Floor Co., Ltd invested in scientific research for developing calcium sulphate panels with high strength and good stability. The company also developed calcium sulphate panels according to the industry quality standard to meet customer expectations.
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Rise in Inclination Toward Green Data Centers to Boost Raised Floor Market Growth During Forecast Period:
There is a rise in awareness and inclination toward green data centers owing to growing demand from environmentally conscious consumers and increasing government regulations. As a result, key players in the data center industry are developing “green” data centers that minimize or eliminate waste, pollution, and other hazardous effects on the environment. There is an emerging trend of “Green” data centers to achieve a high energy efficiency to process power ratio and reduce the carbon footprint. Expanding usage of data centers and information technology (IT) in modern business practices for a wide range of applications is expected to demand more space for placing green data centers. This factor will propel the growth of the raised floor market in the coming years.
Global Raised Floor Market: Industry Overview
The raised floor market is segmented on the basis of type, application, and geography. Based on type, the raised floor market is segmented into steel encapsulated, calcium sulphate board, aluminum board, and chipboard encapsulated. Based on application, the raised floor market is segmented into data center, commercial office space, clean room floor system, and seismic isolation floor system. By geography, the raised floor market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, South America, and Africa.
The raised floor market in North America is projected to witness significant growth from 2022 to 2028. The market in North America is segmented into the US, Canada, and Mexico. The continuously flourishing construction industry and improving standards of living are favoring the raised floor market growth in the region. Strong demand for data and technologies fuels the wholesale data center market in North America, which, in turn, triggers the construction of data centers. For instance, according to Upsite Technologies, demand for data center capacity in North America more than tripled year-over-year in the first half of 2022 due to a shift toward hybrid cloud environments in a post-pandemic world.
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In addition, according to CBRE, the North American data center market made gains in construction and net absorption in 2021, with the rise in demand for data centers from cloud service providers and social media companies. Similarly, according to the North American Data Center Trends Report, service providers brought 214.3 megawatts (MW) of new wholesale colocation supply online in the seven primary US data center markets in the first half of 2021, recording an increase of 7% from 2020. Increasing investments in the construction of data centers and commercial office spaces by big giants are propelling the regional market growth. In April 2022, Google planned to invest US$ 9.5 billion in offices and data centers in the US. These investments include existing office developments in Austin, Boulder, Cambridge, and Pittsburgh; a new office project in Atlanta; and data center development in Tennessee, Virginia, and Oklahoma.
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