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The cellular concrete market share is expected to increase to USD 830.73 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.73%.
This cellular concrete market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers cellular concrete market segmentation by end-user (non-residential and residential) and geography (APAC, Europe, North America, South America, and Middle East and Africa).
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The cellular concrete market report also offers information on several market vendors, including Acico Group, Aerix Industries, Aircrete Europe, Broco Industries, Canadian Cellular Concrete Services Inc., Cell-Crete Corp., Cellucrete Corp., Cellular Concrete Technologies, Conco, DLVEWS, Edilportale.com SpA, GEOFILL LLC, Laston Italiana Spa, Vicon Nano Science Eco Construction Systems, Ytong, and Lafarge among others.
Technavio categorizes the global cellular concrete market as a part of the global construction materials market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the cellular concrete market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the cellular concrete market encompasses successful business strategies deployed by the key vendors. The cellular concrete market is fragmented and the vendors are deploying growth strategies such as product differentiation to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The cellular concrete market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the cellular concrete market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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46% of the market's growth will originate from APAC during the forecast period. China and India are the key markets for cellular concrete in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The significant increase in construction activities in countries such as India and China will facilitate the cellular concrete market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 affected the growth of several end-user industries in the region in 2020, including the construction industry, as several construction projects were delayed or canceled in 2020 owing to economic downturns, disruptions in supply chains, and uncertainties in the growth of the construction industry. However, the recovery of economies from the COVID-19-induced crisis and the initiation of large-scale vaccination drives are anticipated to propel the market growth during 2022-2026.
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The cellular concrete market share growth by the non-residential segment will be significant during the forecast period. The rapid urbanization in countries such as India, China, the US, and others will lead to more non-residential buildings, which will propel the demand for cellular concrete in the coming years.
This report provides an accurate prediction of the contribution of all the segments to the growth of the cellular concrete market size and actionable market insights on post COVID-19 impact on each segment.
The increase in construction activities is notably driving the cellular concrete market growth, although factors such as shortage of construction labor in developed countries may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the cellular concrete industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Cellular Concrete Market Driver
One of the key factors driving the global cellular concrete market growth is the increase in construction activities. India, China, the US, Brazil, Malaysia, Russia, Hungary, and Vietnam are among the leaders in the global construction market. For instance, in Vietnam, the renovation of coastal areas and the establishment of industrial hubs are the major infrastructural projects that are underway. Major construction projects in China, including the construction of the South-North Water Transfer Project in North China, the expansion of Beijing Capital International Airport, and the construction of the Hong Kong-Zhuhai-Macau bridge, will increase the demand for cellular concrete during the forecast period. Moreover, the Middle East and other regions are also significantly experiencing a boom in construction activities. For instance, in November 2021, work on the skyscraper in Dubai, which was stuck in 2019, is back in full swing and aiming for completion in another nine months. Such factors will drive market growth during the forecast period.
Key Cellular Concrete Market Trend
Rapid urbanization and rising disposable income is one of the key cellular concrete market trends that is expected to impact the industry positively in the forecast period. According to The World Bank Group, the global urban population was 7.7 billion in 2021. By 2050, an additional over 2 billion people are estimated to populate urban and semi-urban areas, with a majority of them in APAC and MEA. In addition, investments of USD 31,650 billion have been proposed by 99 cities in India under their smart cities plan. One hundred smart cities and 500 other cities are likely to invite investments worth USD 0.02 trillion in the next five years. In China, restrictions on foreign investment in land development, high-end hotels, office buildings, international exhibition centers, and the construction and operation of large theme parks have been lifted. Such factors will further support the market growth in the coming years.
Key Cellular Concrete Market Challenge
One of the key challenges to the global cellular concrete market growth is the shortage of construction labor in developed countries, such as the US, Europe, and Australia. The downsizing of labor occurred after the pandemic, which resulted in the massive layoff of construction workers, especially site laborers, during this period. According to the Home Builder Institute, the construction industry needs over 2 million more workers over the next three years to keep up with the booming demand for new houses amid the labor shortage. Also, according to the US Bureau of Labor Statistics, there was a shortage of 3,000 construction workers in the US in August 2021. Another factor aggravating this trend is the shift of labor from work that requires physical labor to more intellectual jobs. Such factors are expected to negatively impact the market during the forecast period.
This cellular concrete market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Cellular Concrete Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.73% |
Market growth 2022-2026 |
$ 830.73 million |
Market structure |
Fragmented |
YoY growth (%) |
4.67 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 46% |
Key consumer countries |
US, China, India, Germany, and France |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Acico Group, Aerix Industries, Aircrete Europe, Broco Industries, Canadian Cellular Concrete Services Inc., Cell-Crete Corp., Cellucrete Corp., Cellular Concrete Technologies, Conco, DLVEWS, Edilportale.com SpA, GEOFILL LLC, Laston Italiana Spa, Vicon Nano Science Eco Construction Systems, Ytong, and Lafarge |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by End-user
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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