The Africa Bitumen Market is estimated to be valued at US$ 418.71 Mn in 2020 and is expected to exhibit a CAGR of 5.3% over the forecast period from 2021 to 2028, as highlighted in a new report published by Coherent Market Insights.
Market Overview: Bitumen is a semi-solid form of petroleum which is highly viscous and can be moldable. It is used in various construction applications such as road construction and waterproofing. The increasing infra development activities across the region are fueling the demand for bitumen in Africa. Market key trends: One of the major trends driving the growth of Africa bitumen market is increasing investments in road infrastructure projects. Various countries in Africa such as Nigeria, South Africa, Kenya etc. are investing heavily in development and upgrading of road networks. For instance, Nigeria government has planned to invest around US$ 2.7 billion over the next 3 years to construct and rehabilitate nearly 13,000 kilometers of federal roads across the country. Such increasing focus on infra development is expected to significantly boost the consumption of bitumen in road construction activities in Africa over the forecast period. Porter’s Analysis Threat of new entrants: Low barrier of entry in bitumen market in Africa due to availability of raw material. However, established players have advantage of brand name and distribution channels. Bargaining power of buyers: Buyers have moderate bargaining power due buyers like road construction companies have limited alternatives for bitumen. Bargaining power of suppliers: Suppliers have moderate power due to availability of raw material reserves from a few suppliers globally. However, production capacity expansion can impact prices. Threat of new substitutes: Limited threat as bitumen has well established applications and no cost effective substitutes available for usage in roads construction. Competitive rivalry: High due to presence of petroleum companies and construction material suppliers competing on pricing and quality. SWOT Analysis Strength: Availability of crude oil reserves and investments in refining assets by key players. Rising road infrastructure projects provide increased demand. Weakness: High dependence on imports to meet demand-supply gap. Vulnerable to volatility in crude oil prices. Lack of local manufacturing capacity. Opportunity: Growing population and urbanization driving road construction activities. Government focus on upgrading transport infrastructure offers scope. Threats: Economic and political instability in certain African countries pose project delays. Rising competition from alternatives like cement for construction. Key Takeaways The Africa bitumen market is expected to witness high growth, exhibiting CAGR of 5.3% over the forecast period, due to increasing road construction activities across the region. The fastest growing regional market is expected to be East Africa registering a CAGR of over 6% primarily due to rising infrastructure projects in countries like Ethiopia, Kenya and Tanzania. Key players operating in the Africa bitumen market are Exxon Mobil Corporation, Royal Dutch Shell Plc., RAHA Bitumen, Inc., Tekfalt Binders (Pty) Ltd., SprayPave, Indian Oil Corporation Ltd., GOIL Company Limited, Wabeco Petroleum Ltd., Tiger Bitumen, and Richmond Group. Exxon Mobil captured around 25% market share in 2020 owing to huge reserves and supply contracts with major construction companies. Regional analysis indicates East Africa as the fastest growing market for bitumen consumption particularly in Ethiopia, Kenya and Tanzania. This is attributed to rising FDI inflows for transportation projects under China’s Belt and Road Initiative. The governments growing focus on upgrading road networks to support trade and economic growth bodes well. Read More: https://www.rapidwebwire.com/africa-bitumen-market-is-estimated-to-witness-high-growth-owing-to-growing-road-infrastructure-development/
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The Aerial Work Platform (AWP) Truck Market is estimated to be valued at US$ 11643.3 Mn in 2022 and is expected to exhibit a CAGR of 11.2% over the forecast period 2022 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview: Aerial work platforms or aerial trucks are vehicles used for temporary elevated access for people or equipment to inaccessible heights. They include boom lifts, scissor lifts, aerial ladders and other mobile elevating work platforms. AWP trucks help perform maintenance, construction and inspections in high places safely. They provide an alternative to traditional dangerous work methods like ladders and scaffolding. Market key trends: The aerial work platform truck market is expected to witness substantial growth owing to increasing urbanization and rising construction activities globally. According to the United Nations, the urban population is projected to grow to 6.7 billion by 2050 from 4.2 billion in 2018. This rapid urbanization coupled with rising infrastructural development will fuel the demand for AWP trucks during construction, maintenance and renovation of buildings and structures. Furthermore, increasing industrialization in emerging economies of Asia Pacific and Latin America has augmented the need for heavy machinery like AWP trucks for various industrial applications which is estimated to drive the growth of the market over the forecast period. Porter’s Analysis Threat of new entrants: Low costs of manufacturing and purchasing existing equipments pose low threat to new entrants. However, dominance of existing players with established distribution network creates hurdles. Bargaining power of buyers: Large buyers like construction companies can negotiate on prices due to their high purchase volumes. However, differentiated product offerings by manufacturers ensure that barganing power remains moderate. Bargaining power of suppliers: Major raw materials include steel and electronic components. Dominance of few suppliers for these materials results in moderate bargaining power. However, availability of substitutes maintain pricing pressure. Threat of new substitutes: Technological innovations can lead to development of substitutes like drone-based inspection. However, advantages of personnel safety, payload capacity and vertical reach make AWP trucks irreplaceable for now. Competitive rivalry: Intense due to large number of global and regional manufacturers competing on product quality, pricing and service offerings. SWOT Analysis Strengths: Safety, productivity & efficiency gains for personnel working at height. Payload capacity and vertical reach for access applications. Weaknesses: High acquisition and operational costs. Technical complexity leads to need for trained operators. Opportunities: Infrastructure growth in developing nations. Increasing construction of high-rise buildings and wind farms. Technological advancements for remote operation, electrification etc. Threats: Trade barriers and import restrictions across regions. Stringent safety regulations increasing compliance costs. Economic slowdowns affecting construction spending. Key Takeaways The global Aerial Work Platform (AWP) truck market is expected to witness high growth, exhibiting CAGR of 11.2% over the forecast period, due to increasing investments in infrastructure development and construction activities worldwide. The market was valued at US$ 11643.3 Mn in 2021. Regional analysis: North America dominated the global market in 2021 with over 30% market share owing to rising number of infrastructure projects and presence of major manufacturers in US and Canada. Asia Pacific is projected to witness fastest growth during the forecast period, driven by infrastructure developments in China, India and Southeast Asian countries. Key players: Key players operating in the AWP Truck market are XCMG Group, SANY Group, Zoomlion Heavy Industry Science & Technology Co., Ltd., AICHI CORPORATION, Altec Industries, Bronto Skylift, Hunan RUNSHARE Heavy Industry Company, Ltd., Dinolift, HAULOTTE GROUP, Hunan Sinoboom Intelligent Equipment Co, Ltd., JLG Industries, Inc., Manitou Group, Niftylift (UK) Limited, Skyjack, Zhejiang Dingli Machinery Co, Ltd., Linamar Corporation, Manitex International. These players are focusing on new product launches, partnerships and expansions to increase geographic footprint and market share. Read More: https://www.rapidwebwire.com/aerial-work-platform-awp-truck-market-is-estimated-to-witness-high-growth/ Interior Fit Out Market is Estimated To Witness High Growth Owing To Modular Construction10/31/2023 The Interior Fit Out Market is estimated to be valued at US$ 58.91 billion in 2022 and is expected to exhibit a CAGR of 7.9% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview: Interior fit out refers to the process of refining and finishing the interior of a building to make it suitable for occupancy. It includes installation of flooring, wall paneling, lighting, fixtures, furnishings and other such elements. Interior fit out improves functionality, workflow and aesthetics of commercial spaces like offices, retail stores, restaurants and others. It plays a vital role in branding and creating the right experience for customers and employees. Market key trends: One of the major trends propelling the growth of the interior fit out market is increasing adoption of modular construction. Modular construction involves manufacturing components or modules of a structure in an off-site manufacturing facility and then assembling them together on-site. For interior fit outs, prefabricated modular components like walls, ceilings, fixtures etc are manufactured according to design specifications and then installed together. This offers advantages like reduced construction time, minimized wastage, and improved quality control. With construction schedules getting tighter, modular construction is gaining traction in the interior fit out industry as it allows spaces to be completed faster and efficiently. The report expects this trend to significantly drive the demand for interior fit outs globally over the forecast period. Porter’s Analysis Threat of new entrants: Low capital requirements and availability of established suppliers pose low threat of new entrants. Bargaining power of buyers: Large buyers like governments and corporates have high bargaining power due to their bulk buying capability. Bargaining power of suppliers: Presence of many suppliers with fragmented supply base gives buyers more negotiating power over suppliers. Threat of new substitutes: Minimal threat since interior fit out services have limited substitutes. Competitive rivalry: High competition exists among the established players operating in the market. SWOT Analysis Strengths: Established brands and global presence of key players, diversified portfolio of services. Weaknesses: Cyclical nature of construction industry impacting demand, high dependency on economic conditions. Opportunities: Growth in commercial sector development projects, rising demand for green building projects. Threats: Volatility in raw material prices, shortage of skilled workforce. Key Takeaways The global Interior Fit Out market is expected to witness high growth, exhibiting CAGR of 7.9% over the forecast period, due to increasing commercial construction activities globally. The market size is projected to reach US$ 58.91 billion by 2023. Regional analysis - North America dominates the global interior fit out market currently owing to rise in industrial and commercial construction in the US. Asia Pacific is expected to witness the fastest growth due to increasing investments in infrastructure development projects in China and India. Key players operating in the interior fit out market are Turner Construction Company, Jacobs Engineering Group Inc., HOK Group, Inc., Skanska AB, AECOM, Balfour Beatty plc, Gensler, Lendlease Group, ISG plc, DPR Construction, PCL Construction Enterprises, Inc., Structure Tone, Clark Construction Group, LLC, HBA, JLL (Jones Lang LaSalle). The key players are focusing on expanding their service portfolio and geographical footprint through mergers and acquisitions. Read More: https://www.rapidwebwire.com/biotech-medical-equipment-innovation-drives-growth-in-the-global-interior-fit-out-market/ The global Fencing Market is estimated to be valued at US$ 33,146.6 million in 2021 and is expected to exhibit a CAGR of 4.4% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights. Market Overview: Fencing refers to a barrier created using different materials such as wood, metal, vinyl, and composite, among others, to enclose an area for security and privacy purposes. Fences are widely used in residential, commercial, and industrial sectors to protect properties, livestock, and gardens. Fencing offers advantages such as enhanced security, privacy, aesthetic appeal, and protection against trespassers and wildlife. The rising concerns regarding safety and security along with increased construction activities and infrastructure development are driving the demand for fences globally. Market Key Trends: The key trend driving the fencing market is the increasing demand for security and privacy. With the rising concerns about safety and security, the need for secure perimeters and protection against trespassers has become crucial. Fencing provides an effective solution to prevent unauthorized access and intrusion into private properties, commercial spaces, and industrial areas. Additionally, fences also offer privacy, which is particularly important for residential properties. The growing urbanization and rising disposable income have led to an increased focus on residential infrastructure, spurring the demand for fences. Moreover, the rising demand for fences in agricultural and livestock applications to protect crops and livestock from external threats further contributes to the market growth. Overall, the increasing need for security and privacy is expected to drive the growth of the global fencing market over the forecast period. PEST Analysis: Political: The political factors influencing the fencing market include government regulations and policies related to construction and property development. Changes in zoning laws, building codes, and environmental regulations can impact the demand and types of fences required in different regions. Economic: The economic factors affecting the fencing market include economic growth, disposable income levels, and housing construction activities. As the economy grows, there is a greater demand for new residential and commercial properties, leading to increased demand for fences. Social: Social factors influencing the fencing market include population growth, urbanization, and changing lifestyle trends. The increasing population and urbanization result in the need for boundary demarcation and security, driving the demand for fences. Changing lifestyle trends, such as the desire for privacy, aesthetics, and pet ownership, also contribute to the market growth. Technological: Technological advancements in the fencing industry, such as the use of automation, smart technologies, and sustainable materials, are shaping the market. Innovative fencing systems equipped with sensors, surveillance cameras, and remote control capabilities are gaining popularity among consumers. Key Takeaways: The global fencing market is expected to witness high growth, exhibiting a CAGR of 4.4% over the forecast period due to several factors. One of the drivers for market growth is the increasing need for security and privacy in residential and commercial properties. The rise in crime rates and the growing awareness of the importance of security are driving the demand for fences. In terms of regional analysis, North America is the fastest-growing and dominating region in the fencing market. The region's strong economic growth, increasing residential and commercial construction activities, and rising security concerns are major factors contributing to the market growth. Additionally, the presence of key players and advanced technological developments in the region further boost the market. Key players operating in the fencing market include Allied Tube & Conduit, Ameristar Fence Products Incorporated, Associated Materials LLC, Bekaert, CertainTeed Corporation, Gregory Industries, Inc., Long Fence Company Incorporated, Betafence NV, Jerith Manufacturing Company Incorporated, Ply Gem Holdings Incorporated, and Poly Vinyl Company Incorporated. These key players compete based on factors such as product quality, price, innovation, and distribution channels. They also focus on strategic partnerships, mergers and acquisitions, and research and development activities to strengthen their market position. Read More: https://www.marketwebjournal.com/fencing-market-size-and-share-analysis/ The global Bolts Market is estimated to be valued at US$ 8.29 Bn in 2023 and is expected to exhibit a CAGR of 4.7% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview: Bolts are mechanical fasteners that are widely used in various industries, such as construction, manufacturing, automotive, and aerospace. These bolts provide strong and secure fastening solutions, ensuring the safety and stability of structures and equipment. With the growing construction and manufacturing activities worldwide, the demand for high-quality bolts is increasing. Bolts offer advantages such as easy installation, durability, and resistance to corrosion, which further drives their demand in the market. The need for bolts is associated with the requirement for reliable and long-lasting fastening solutions in various industries. Market Key Trends: The key trend driving the bolts market is the increasing focus on infrastructure development and construction activities worldwide. With the rapid urbanization and industrialization, there is a rising demand for new infrastructural projects, such as residential buildings, commercial complexes, and industrial facilities. These projects require a large number of bolts for construction purposes. Additionally, the automotive and aerospace industries also contribute to the demand for bolts, as they are used in the assembly of vehicles and aircraft. Moreover, the increasing adoption of lightweight materials in various industries is expected to drive the demand for specialized bolts that can provide strong fastening solutions for lightweight structures. Overall, the market for bolts is expected to witness high growth in the coming years due to increasing demand from construction and manufacturing industries. PEST Analysis: Political: The political factors influencing the bolts market include government regulations and policies related to trade and manufacturing. For instance, trade tensions between countries can impact the import and export of bolts, affecting the market dynamics. Economic: The economic factors affecting the bolts market include the overall GDP growth, inflation rates, and consumer spending. The demand for bolts is influenced by the growth of industries such as construction, automotive, and manufacturing, which are dependent on economic conditions. Social: The social factors influencing the bolts market are related to changing consumer preferences and lifestyles. For example, the increasing focus on sustainability and environmental concerns may drive the demand for eco-friendly and recyclable bolts. Technological: The technological factors affecting the bolts market include advancements in manufacturing processes and materials. Innovations in bolt design and technology, such as the development of self-locking bolts or corrosion-resistant materials, can significantly impact the market. Key Takeaways: The global bolts market is expected to witness high growth, exhibiting a CAGR of 4.7% over the forecast period (2023-2030), primarily due to increasing construction activities and the growth of the automotive industry. The construction sector's increasing investments in infrastructure development globally, particularly in emerging economies, drive the demand for bolts. In terms of regional analysis, Asia Pacific is expected to be the fastest-growing and dominating region in the bolts market. Rapid urbanization, industrialization, and infrastructure development in countries like China and India are driving the demand for bolts, particularly in the construction and automotive sectors. Key players operating in the bolts market include Fabory, Fastenal Company, Würth Industrie Service GmbH & Co. KG, REYHER, KELLER & KALMBACH GmbH, AB STEEL, Brunner Manufacturing Co., Inc., KD FASTENERS, INC., ckford Fastener, Inc., AMARDEEP STEEL, and Viha Steel & Forging. These companies are focusing on product innovation, strategic partnerships, and mergers and acquisitions to expand their market presence and gain a competitive edge. Read More: https://www.pressreleasebulletin.com/bolts-market-growing-construction-industry-to-drive-market-growth/ Mechanical, Electrical, and Plumbing (MEP) Services and Internet of Things (IoT) Integration7/25/2023 In modern construction and building management, the integration of Mechanical, Electrical, and Plumbing (MEP) services with the Internet of Things (IoT) has revolutionized the way buildings are designed, operated, and maintained. IoT refers to a network of interconnected devices, sensors, and software that can collect, exchange, and analyze data in real-time. When combined with MEP services, IoT offers a wide range of benefits that enhance building performance, energy efficiency, and occupant comfort.
In the context of MEP services, IoT integration involves the deployment of smart sensors and devices throughout the building's mechanical, electrical, and plumbing systems. These sensors monitor various parameters such as temperature, humidity, occupancy, energy usage, water flow, and air quality. The data collected is then transmitted to a centralized control system or cloud platform where it is analyzed and used to optimize the building's operations. Consultant and engineering services are expected to dominate the global mechanical, electrical, and plumbing (MEP) services market share over the forecast period. For example, in HVAC (Heating, Ventilation, and Air Conditioning) systems, IoT integration allows for dynamic temperature control based on real-time occupancy and external weather conditions. Lighting systems can be adjusted automatically according to natural light levels and occupancy patterns. Plumbing systems can detect leaks and monitor water usage, enabling swift action to prevent wastage. The benefits of IoT integration in Mechanical Electrical And Plumbing Services are manifold. It leads to improved energy efficiency, as systems are optimized for actual demand rather than operating on fixed schedules. Maintenance becomes proactive, as IoT-enabled devices can detect faults and inefficiencies early, reducing downtime and repair costs. Additionally, occupants experience enhanced comfort and well-being due to personalized environmental control. The integration of IoT with Mechanical, Electrical, and Plumbing (MEP) services marks a significant advancement in the construction and operation of buildings. It empowers building managers with real-time data and intelligent automation, leading to increased energy efficiency, reduced operational costs, and better overall occupant experiences. Renewable energy is playing an increasingly significant role in the Mechanical Electrical And Plumbing (MEP) services market as organizations and individuals seek to reduce their carbon footprint and transition to cleaner energy sources. The integration of renewable energy technologies into MEP systems offers numerous benefits, including energy cost savings, environmental sustainability, and increased energy independence.
Global mechanical, electrical, and plumbing (MEP) services market is consistently driven by increasing infrastructural development worldwide. In the realm of mechanical systems, renewable energy sources such as solar thermal and geothermal energy are being utilized to provide heating and cooling solutions. Solar thermal systems capture the sun's heat and convert it into usable thermal energy, which can be used for space heating, water heating, or industrial processes. Geothermal systems utilize the constant temperature of the earth to provide heating and cooling, offering energy-efficient solutions for buildings. On the electrical front, renewable energy sources such as solar photovoltaic (PV) panels and wind turbines are being integrated into MEP systems to generate clean electricity. Solar PV systems convert sunlight into electricity, while wind turbines harness the power of wind to generate electricity. By incorporating these renewable energy sources, MEP systems can reduce reliance on fossil fuels, lower energy costs, and contribute to a more sustainable energy mix. In the plumbing segment, renewable energy plays a role in water heating through the use of solar water heaters. These systems use solar thermal collectors to heat water, reducing the energy demand associated with conventional water heating methods. The global foldable container house market size was valued at US$ 8.5 billion in 2023 and is projected to reach US$ 15.94 billion by 2030, growing at a CAGR of 9.4% from 2023 to 2030. The integration of renewable energy into MEP systems is facilitated by advancements in technology and the availability of incentives and support programs. Governments, utility companies, and environmental initiatives often offer financial incentives, grants, and rebates to encourage the adoption of renewable energy systems, making them more economically viable. As the world continues to prioritize renewable energy and sustainability, the role of renewable energy in the MEP services market will continue to grow. It offers opportunities for cost savings, environmental stewardship, and meeting energy efficiency goals. By incorporating renewable energy technologies into MEP systems, organizations can contribute to a cleaner and more sustainable future. |
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