PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1418752
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1418752
Global Construction Anchors Market is valued at approximately USD 2.92 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 3.7% over the forecast period 2023-2030. Construction anchors, often referred to as anchors or anchor systems, are devices used to secure and support various structures or components within the construction industry. These anchors play a crucial role in ensuring the stability, safety, and integrity of buildings and infrastructure. The primary purpose of construction anchors is to provide a secure connection between a structural element and its foundation or supporting structure. The Construction Anchors Market is expanding because of factors such as the rising number of construction and infrastructure development activities, rising growing awareness of structural stability and increasing adoption of technology in construction.
The Construction Anchors Market is experiencing a robust growth trajectory, propelled by the escalating number of construction and infrastructure development activities worldwide. As urbanization and population growth continue to drive the demand for residential, commercial, and public infrastructure, the need for reliable and durable anchoring solutions has intensified. Construction anchors play a pivotal role in ensuring the structural integrity and stability of buildings and other structures. The rising frequency of construction projects, including high-rise buildings, bridges, and industrial facilities, has significantly increased the demand for anchors that can withstand diverse load and environmental conditions. Robust expansion in residential construction is evident across the Asia-Pacific region, nations such as India, China, the Philippines, Vietnam, and Indonesia. The Fitch Solutions Infrastructure Report (FSIR) highlights China as the global leader in the construction market, poised for a Compound Annual Growth Rate (CAGR) of 8.6% from 2022 to 2030. This underlines the substantial growth and potential within the construction sector in the Asia-Pacific region, with China playing a pivotal role in driving these trends. Moreover, As reported by the US Census Bureau, the construction spending in the country reached an adjusted annual rate of USD 1,704.4 billion in February 2022, exhibiting a 0.5% increase compared to the revised January estimate of USD 1,695.5 billion. This data underscores the significant scale and ongoing dynamics of the construction sector in the United States. Thus, the rising construction industry is driving market growth. In addition, the rising industrial sector and rising product innovation activities are creating new opportunities for market growth. However, the fluctuating raw material prices stifled market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Construction Anchors Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022 owing to the increasing number of petrochemical plants, rising construction industry, and rising industrial construction sector and supportive government initiatives in industrial and construction activities in the region. Moreover, Europe is projected to register the fastest growth owing to factors such as the rising industrial sector, rising infrastructure development activities., rising investment in manufacturing plants and product development activities in the region.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.
List of tables and figures and dummy in nature, final lists may vary in the final deliverable.
List of tables and figures and dummy in nature, final lists may vary in the final deliverable.