Report Code : A06629
Shotcrete is a method of applying concrete projected at high velocity primarily on to a vertical or overhead surface. Shotcrete equipment are used in underground construction, inground swimming pool, water retaining structure, protective coatings, and repair works. Therefore, the North America shotcrete equipment market size is expected to witness profitable growth opportunities during the forecast period
Eswara Prasad
Manager, Chemical and Materials
According to a new report published by Allied Market Research titled, “North America Shotcrete Equipment Market by Technique, System, Application, and Equipment: Opportunity Analysis and Industry Forecast, 2020–2027,” the North America shotcrete equipment market size was valued at $612.4 million in 2019, and is anticipated to generate $785.1 million by 2027. The market is projected to experience growth at a CAGR of 4.9% from 2020 to 2027.
Rapid development of shotcrete technology and raw materials is expected to foster the market growth during the forecast period. Furthermore, economic and technical efficiency of shotcrete and sustainability of the shotcrete process are likely to drive the growth of the market. Moreover, increase in the demand for low-cost housing is expected to offer major opportunities for the North America shotcrete equipment market growth. The transportation of concrete mix is expected to affect the growth of the shotcrete equipment market during the forecast period.
Underground construction is dominated application segment for shotcrete equipment market during the forecast period as it is mainly used to strengthen the substrate by using Sprayed Concrete Linings (SCL) as a temporary or permanent lining, considering the time, and cost required.
Rapid urbanization in the economies, such as Canada and Mexico, led to an upsurge in construction activities, which majorly boosts the growth of the shotcrete equipment market. In 2019, the underground construction application segment accounted for approximately 59.8% of the market in terms of value, and is expected to maintain its dominance throughout the forecast period.
The shotcrete equipment market is segmented into different techniques such as wet-mix and dry-mix. The wet-mix segment accounted for 78.3% of the market revenue in 2019, owing to the fact of its versatility and time reduction in shotcreting. Further, research in enhancing the properties of shotcrete raw materials is expected to continue the growth of wet mix shotcrete process, making it a widely-used technique in the shotcrete equipment market.
Key Findings Of The Study:
Impact Of Covid-19 On The North America Shotcrete Equipment Market
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North America Shotcrete Equipment Market by Technique (Wet Mix and Dry Mix), System (Manual Spraying and Robotic Spraying), Application (Underground Construction, Inground Swimming Pool, Water Retaining Structure, Protective Coatings, and Repair Works), and Equipment (General Equipment, Auxiliary Equipment, and Special Equipment): North America Opportunity Analysis and Industry Forecast 2020–2027
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