The report covers forecast and analysis for the geogrids market on a global and regional level. According to the report, global demand for geogrids was valued at over USD 761.0 million in 2015, is expected to reach above USD 1,500.0 million in 2021 and is anticipated to grow at a CAGR of slightly above 12.0% between 2015 and 2021.The study includes drivers and restraints for the market along with the impact they have on the demand over the forecast period. Additionally, the report includes study of opportunities available in the geogrids market on a global level.
The geogrids market is mainly driven due to its widespread applications and strong demand from railway and roadways products. Government initiative and funds supports growth of the geogrids market. Increasing requirement for high quality design is anticipated to surge the geogrids market. Conversely, the market is restricted owing to patent limitations in product design. In expert civil designers and engineers and under developed countries devoid of R&D hinder the market growth. Nonetheless, commercial industries, mining and oil sectors can extend opportunities for geogrids market in forecast period. Developing countries are undergoing radical transformation in recent times. Moreover, market remains competitive due to unexploited opportunities with growing scope of infrastructure demand.
In order to give the users of this report a comprehensive view on the geogrids market, we have included a detailed competitive scenario, and product portfolio of key vendors. To understand the competitive landscape in the market, an analysis of Porter’s five forces model for the geogrids market has also been included. The study encompasses a market attractiveness analysis, wherein application segments are benchmarked based on their market size, growth rate and general attractiveness.
Some of the key application in geogrids market includes railroad stabilization, road industry, soil reinforcement, retaining walls and others. Road industry was leading segment owing to its function, cost, and load bearing capacity of geogrids materials. High efficiency, low maintenance cost of roads, oil & gas sites, etc. is expected to boost the demand for geogrids in the years to come. Use of geogrids in road construction had shortened the aggregate material width. Geo synthetics the type of geogirds are utilized in soil reinforcement. Hence, this segment is anticipated to boost the demand for geogrids in the near future.
The study provides a decisive view on the geogrids market by segmenting the market based on application and region. Applications such as road industry, rail road stabilization, soil reinforcement, retaining walls and others. All the segments have been analyzed based on present and future trends and the market is estimated from 2015 to 2021. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America and Middle East and Africa with its further bifurcation into major countries including U.S. Germany, France, UK, China, Japan, India and Brazil.
The report covers detailed competitive outlook including company profiles of the key participants operating in the global market. Key players profiled in the report include NAUE GmbH & Co. KG, Tensar International Corporation, ACE Geosynthetics Enterprise Co., Ltd., Low & Bonar PLC and Strata Systems among others.
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