Enjoy complimentary customisation on priority with our Enterprise License!
The pervious pavement market share is expected to increase by USD 6.72 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 6.7%.
This pervious pavement market research report extensively covers pervious pavement market segmentation by material (pervious asphalt, pervious concrete surfaces, block and concrete modular pavers, and grid pavers) and geography (Europe, North America, APAC, South America, and Middle East and Africa). The pervious pavement market report also offers information on several market vendors, including Balfour Beatty Plc, BASF SE, Boral Ltd., CEMEX SAB de CV, Chaney Enterprise LP, CRH Plc, LafargeHolcim Ltd., Raffin Construction Co., Sika AG, and UltraTech Cement Ltd. among others.
Download the Free Report Sample to Unlock the Pervious Pavement Market Size for the Forecast Period and Other Important Statistics
The increasing construction activities globally is notably driving the pervious pavement market growth, although factors such as volatility in raw material prices 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 pervious pavement industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Pervious Pavement Market Driver
One of the key factors driving the global pervious pavement market growth is the increasing construction activities globally. There has been an increase in the number of first-time property buyers in developing countries owing to an increase in the per capita disposable income. In addition, the positive economic outlook in developed economies such as the US and other European countries has increased the overall spending on infrastructure. In line with this, many Middle Eastern countries are improving their infrastructure to make the country an attractive tourist destination. For instance, the Al Maktoum International Airport is the world's largest construction project. Spanning over 21 miles, the mega-project has moved into an expansion phase in 2020, costing USD 32 billion. Beijing International Airport is expected to surpass Dubai's Al Maktoum International Airport in cost and it is expected to be complete by 2025. Such factors will drive the market growth during the forecast period.
Key Pervious Pavement Market Trend
Application of pervious concrete in designing of pervious road pavement is one of the key pervious pavement market trends that is expected to impact the industry positively in the forecast period. The pavements are subjected to drainage issues, and porous concrete allows the water to seep underground and prevent water stagnation on roadways. This ensures driver safety and minimizes road damage caused by storms and rain. In addition, dry areas such as deserts extensively use pervious concrete in pavements to replenish underground water bodies and prevent water scarcity in drought-prone areas. Such developments are expected to further support the market growth in the coming years.
Key Pervious Pavement Market Challenge
One of the key challenges to the global pervious pavement market growth is the volatility in raw material prices due to their high dependence on crude oil prices. Pervious asphalt is a byproduct produced during the distillation and refining of crude oil. According to the US Energy Information Administration, the price of Brent crude oil declined from USD 98.97 per barrel in 2014 to USD 52.32 per barrel in 2015, which witnessed a reduction in drilling activities outside the US by 6.8% in 2014. According to the US Energy Information Administration (EIA), the global oil demand fell drastically owing to the outbreak of COVID-19 in 2020. During the year, Brent crude oil spot prices fell to USD 34.13 per barrel from USD 64.37 per barrel. Fluctuations in raw material prices bring unpredictability in the market, affect production costs adversely, and reduce vendors' profit margins, which will negatively impact the global pervious pavement market during the forecast period.
This pervious pavement 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.
Technavio categorizes the global pervious pavement market as a part of the global building products 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 pervious pavement 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 pervious pavement market encompasses successful business strategies deployed by the key vendors. The pervious pavement market is fragmented and the vendors are deploying organic and inorganic growth strategies 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 pervious pavement 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.
For more insights on the market share of various regions Request for a FREE sample now!
40% of the market's growth will originate from Europe during the forecast period. Germany and Belgium are the key markets for pervious pavement in Europe. Market growth in this region will be faster than the growth of the market in other regions.
The significant increase in the demand for modern and sustainable construction materials owing to the rapid growth of the construction industry in countries such as Hungary, Poland, Ireland, and Portugal will facilitate the pervious pavement market growth in Europe 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 COVID-19 pandemic resulted in the closure of several construction activities in the region, which impacted the market's growth in focus, primarily in the first half of 2020. However, a few construction projects resumed operations in the second half of 2020, as some countries gradually recovered from the COVID-19 crisis. Furthermore, the countries in the region are undergoing vaccination drives for COVID-19. This helped the countries in the region to contain the spread of COVID-19 and resume various operations in 2021, which will further support the regional market growth during the forecast period.
Our report provides extensive information on the value chain analysis for the pervious pavement 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.
To gain further insights on the market contribution of various segments Request for a FREE sample
The pervious pavement market share growth by the pervious asphalt segment will be significant during the forecast period. The growth is attributed to the significant increase in the demand for pervious asphalt pavement owing to their wide usage, such as in parking lots and pavements where light vehicles are used. Pervious pavements also save construction costs for stormwater maintenance facilities like artificial ponds or underground tanks.
This report provides an accurate prediction of the contribution of all the segments to the growth of the pervious pavement market size and actionable market insights on post COVID-19 impact on each segment.
Pervious Pavement Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.7% |
Market growth 2022-2026 |
$ 6.72 billion |
Market structure |
Fragmented |
YoY growth (%) |
5.11 |
Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
Performing market contribution |
Europe at 40% |
Key consumer countries |
US, Canada, China, Germany, and Belgium |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Balfour Beatty Plc, BASF SE, Boral Ltd., CEMEX SAB de CV, Chaney Enterprise LP, CRH Plc, LafargeHolcim Ltd., Raffin Construction Co., Sika AG, and UltraTech Cement Ltd. |
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 forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Material
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.