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North America Shotcrete Equipment Market; By Application (Protective Coatings, Water Retaining Structures, Underground Construction, and Repair Works); By Techniques Used (Wet mix and dry mix); and Region -Analysis of Market Size, Share & Trends for 2016 - 2019 and Forecasts to 2031
North America shotcrete equipment market size was valued 0.7 Bn in 2021 and is expected to reach 1.0 Bn by 2031, at a CAGR of 4.6% in the forecast period.
Shotcrete is a process for adding concrete to the ground or steeper surfaces, which is pneumatically transferred through the shaft and water poured on to the pump by spraying a steady flow of mixed concrete, sand, and aggregates. The framework layer depends on the job to be conducted. This approach is used mainly in mining, tunneling, construction of the underground, repair, and reconstruction projects. Because of its operability and marginal shape advantages, architectural structures can also be designed. This equipment does not need any molds to fix and is quick solidifying materials that expedite the process. It is effective in cases where the structure is unfeasible or cost-prohibitive or where access is difficult for a working area. Such materials have excellent bonding strength which improves structural durability.
According to the report, over the projected timeline the fast expansion of shotcrete technology and raw materials can anticipate rapid growth in the market. Therefore, shotcrete's economic and technological performance and market growth will likely be driven by the sustainability of the shotcrete process. Also, the growing demand for low-cost homes would give substantial growth opportunities in the North American market for shotcrete equipment.
North American market has been segmented based on product, application, and location. It has been further segmented by countries into China, India, Japan, South Korea, and Taiwan.
The wet mix segment is anticipated to register XX% of the volume share. The dry mix segment is poised to grow at a significant CAGR during the forecasted period.
North America Shotcrete Equipment Market is segmented by techniques used into Wet mix and dry mix. The wet mix shotcrete procedure has been used most commonly by most of the key players. The benefits of the wet mix shotcrete, such as high tensile strength and greater substrate stability, make it more effective in constructing swimming pools or water-holding structures. Therefore, because of their widespread usage and benefit, Wet Mix Shotcrete is the first preference for new competitors. The second optimal investment market for the players in the dry mix shotcrete, as it is used for the reconstruction and repair of damaged structures along with lateral and overhead construction. For projects that have consistent or more stoppages, the dry mix shotcrete process is the best alternative.
The underground construction segment accounted for XX% of the nation’s volume in 2019
North America Shotcrete Equipment market is segmented by application into Protective Coatings, Water Retaining Structures, Underground Construction, and Repair Works Underground construction are driven by the application of the spray concrete linings (SCL), which serves as short or long term linings, given the time and cost-efficiency needed to stabilize a substrate over the projected timespan. Rapid urbanization and construction activities like underground transportation in countries like Canada and Mexico are likely to further fuel the market growth.
Technological performance
The fast expansion of shotcrete technology and raw materials can anticipate rapid growth in the market. Therefore, shotcrete economic and technological performance and market growth will likely be driven by the sustainability of the shotcrete process.
Surging construction activities
Growing demand for low-cost homes and a surge in demand for sustainable buildings would give substantial growth opportunities in the North American market for shotcrete equipment. Moreover, rising underground, complex dome design, and other uncommon unique structure construction have created a need for this technique of building.
Lack of skilled labors
The high costs of machines and the availability of raw materials hinder the growth of the market. Moreover, a lack of skilled labor or experts who can operate the system efficiently can restrict market growth.
In terms of value and volume, North America accounted for XX% of total market volume share in 2019
Rapid urbanization in nations like Canada and Mexico has increased building activity which is driving the growth of the shotcrete equipment industry significantly. The category of subway-built applications accounted for more than half of the market in 2019 and is anticipated to remain dominant during the projected period. The North American market share is driven by rapid advances in shotcrete and availability of raw technology and the rise in tunneling and mining operations. An increase in populations and customer’s demand and evolving lifestyles that result in the building of dams, subways, roads, and bridges has created lucrative opportunities for market growth.
Some factors that improve the role in the market of the key players within the limited sprayed market have been the diversified product range, strategically-positioned R&D institutes, the continuous execution of corporate strategy and planning, and scientific advancements.
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