The recent analytical report published by Markntel Advisors (a leading consulting, data analytics, and market research firm), Geogrid Market comprises a detailed study of critical and major aspects of market dynamics, i.e. market trends, size, forecasts, growth factors, challenges, and competitor landscape. The research company provides an extensive range of strategic reports on diverse industry verticals to substantial and varied client bases, including multinational corporations, financial institutions, governments, and individuals, among others.
Geogrid Industry Analytical Overview (2022-2027): Drivers, Opportunities, Challenges, and Trends,
According to the latest report, GeoGrid Market is expecting to propagate at around 8% CAGR in the forecast period of 2022-27. The report significantly addressed considerable changes, gap analyses, and competitive studies using qualitative and quantitative data. These include the widespread segmentation, geography, and recent developments, entailing information on the fluctuation in the demand, sales, revenue, and other parameters experienced and expected in the industry for the forecasting year i.e. 2022 to 2027.
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What is Included in Geogrid Market Segmentation?
The report has segmented the market into the following categories:
By Application
– Roads & Highways
– Railway Tracks
– Bridges & Dams
– Residential & Commercial Buildings
– Others (Sea Ports, Airport Runways, Solid Waste Landfills, etc.)
Here, Roads & Highways accounted for a sizeable share in the market during 2017-2020. Rapid infrastructural developments to strengthen road networks have stimulated the demand for geogrid. Moreover, the increasing emphasis of governments across the Middle East, Europe, & Asia-Pacific on building road networks by launching various infrastructural development plans has catalyzed the demand for geogrids in the last couple of years. Numerous infrastructural projects in emerging economies like India, China, etc., would also provide massive opportunities for GeoGrid installations to increase the longevity of roads.
By Type
– Uniaxial GeoGrids
– Biaxial Geogrids
– Triaxial Geogrids
– By Manufacturing Method
– Extrusion
– Knitten/Woven
– Bonded/Welded
By Region
– North America
– South America
– Europe
– Middle East & Africa
– Asia Pacific
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Key Factor Driver Geogrid Industry Growth by 2027
The rise in infrastructure developments across countries like China, India, the UK, Canada, etc., has led to the escalating demand for geogrids worldwide. In addition to these, it also benefits other industries, including heavy vehicles & equipment, railways, etc., by enhancing the performance of earth-moving vehicles and confrontation against severe weather situations, such as heavy rains.
The expanding size of the global construction industry focusing on the rehabilitation of existing roads & bridges is expected to complement the demand for geogrids in the coming years. The engineering & maintenance challenges, including weathering effects, poor drainage, aging of road surfaces, increased traffic, etc., due to the heavyweight of vehicles causing cracks on roads & highways, have shifted focus toward a more sustainable alternative, such as geogrids. Hence, these aspects are projected to fuel the growth of the Global GeoGrid Market during 2022-27.
- In 2021, the US government approved a USD 1 trillion investment bill, of which USD 240 billion was allocated for rebuilding roads, bridges, public transit, airports, & railways. Moreover, the aggregating burden of perpetual maintenance of the infrastructure settings, such as roads, etc., has also propagated the usage of geogrids.
Who are the Key Players Operating in the Geogrid Industry?
The top companies of the Geogrid market ruling the industry are:
- Ace Geosynthetics
- Glen Raven Inc.
- Huesker Synthetic GmbH
- Low & Bonar PLC
- Maccaferri Group- SECI SPA
- Naue GmbH & Co. CG
- Tenax SPA
- Koninklijke ten Cate BV
- Tensar Corporation
- Wrekin Products Ltd.
- Asahi-Kasei Geotech
- Diamond Grid
- GSE Environemental
- Machine-TST
- Low & Bonar
- Maruti Rub-Plast
- CTM Geosynthetics
- Carthage Mills
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FAQs (Frequently Ask Questions)
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