March 08, 2022 01:30 ET | Source: Global Market Insights Inc. Global Market Insights Inc.
Selbyville, Delaware, March 08, 2022 (GLOBE NEWSWIRE) --
The surface levelling equipment market is expected to surpass USD 400 million by 2028, as reported in a research study by Global Market Insights Inc. Growing population and supportive government initiatives for the construction sector are boosting the market growth. The equipment plays a vital role in surface levelling, plaining, finishing, and spot removing, accelerating its adoption in flooring and road development applications.
The surface levelling equipment industrywas considerably impacted in 2020 and 2021 owing to the significant spread of COVID-19 virus and its variants worldwide. Screeds and power floats sales declined due to shutdown of offline stores as well a temporary suspension of construction projects. The market is likely to witness significant growth during the projected timeframe on account of supportive government initiatives to increase the employment rate. For instance, in October 2020, the Government of Mexico announced to invest USD 14.2 billion in 39 infrastructure projects to revive its pandemic-affected economy.
Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/5211
The major factor driving the adoption of ride-on power trowels is the rising demand for automated concrete finishing in large surfaces areas. The rising number of large warehouses and airport construction projects are spurring the demand for ride-on power trowels.
The increasing surface levelling equipment market revenue in Europe is attributed to the growing demand for advanced equipment as it provides cost-effective operations compared to conventional solutions. The key vendors in the region are extensively working on developing integrated surface leveling equipment. For instance, in March 2021, Cemex UK launched the Supaflo Rapide Screed, a sulfate binder-based screed suitable for commercial & domestic floor applications.
The companies in the surface levelling equipment market are emphasizing on mergers & acquisitions to enhance their service offerings. For instance, in November 2020, Husqvarna Group's Construction Division acquired Blastrac, a provider of surface preparation technologies for the construction industry. This acquisition aimed to build and expand its offerings in the market for surface preparation.
Some prime findings in the surface levelling equipment market report include:
Request for customization of this research report at https://www.gminsights.com/roc/5211
Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary 2.1 Surface levelling equipment industry 3600 synopsis, 2018 - 2028 2.2 Business trends 2.2.1 Regional trends 2.2.2 Product trends Chapter 3 Surface Levelling Equipment Industry Insights 3.1 Impact of COVID-19 pandemic 3.1.1 Global outlook 3.1.2 Regional impact 3.1.2.1 North America 3.1.2.2 Europe 3.1.2.3 Asia Pacific 3.1.2.4 Latin America 3.1.2.5 MEA 3.1.3 Industry value chain 3.1.3.1 Research and development 3.1.3.2 Marketing 3.1.3.3 Supply 3.1.4 Competitive Landscape 3.1.4.1 Strategy 3.1.4.2 Distribution Network 3.1.4.3 Business Growth 3.2 Industry ecosystem analysis 3.2.1 Suppliers 3.2.2 Manufacturers 3.2.3 Distribution channel analysis 3.2.4 Profit margin analysis 3.2.5 End-use landscape 3.3 Investment landscape 3.4 Technology & innovation landscape 3.4.1 Electric Power Trowel 3.4.2 Mechanical Ride-On Trowels 3.5 Regulatory Landscape 3.5.1 International standards 3.5.1.1 ISO 13105-1:2014 3.5.1.2 ISO11375:1998(EN) 3.5.2 North America 3.5.3 Europe 3.5.4 Asia Pacific 3.5.5 Latin America 3.5.6 Middle East and Africa 3.6 Industry impact forces 3.6.1 Growth drivers 3.6.1.1 Increasing government spending on infrastructure development 3.6.1.2 Significant proliferation of residential construction across the globe 3.6.1.3 Proliferation of screeds and power floats rental companies 3.6.1.4 Lack of skilled labors for manual surface levelling in North America and Europe 3.6.2 Industry pitfalls and challenges 3.6.2.1 High-cost prices associated with surface levelling equipment 3.7 Growth Potential Analysis 3.8 Porter's analysis 3.8.1 Supplier Power 3.8.2 Buyer Power 3.8.3 Threat of new entrants 3.8.4 Threat of substitutes 3.8.5 Industry Rivalry 3.9 PESTLE Analysis 3.9.1 Political 3.9.2 Economic 3.9.3 Social 3.9.4 Technological 3.9.5 Environmental 3.9.6 Legal
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.