Geogrid Market to offer a healthy CAGR of 11.2% during 2020-25
February 12, 2020
Geogrid Market Overview:
Geogrid Market is likely to witness an impressive CAGR of 11.2% during the forecast period. The growing use of geogrids in the emerging economies and the increased cost savings achieved in road construction and maintenance activities with their use are the major factors anticipated to drive the global geogrid market during the forecast period.
Report Overview:
This new report from Stratview Research analyses the Geogrid Market over the trend period from 2014 to 2019 and forecast period from 2020 to 2025. The insights of the report shall enable informed decision making and strategy formulation for the near future to capitalize on the opportunities.
Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
- Strategic segmentation
- Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Detailed Competitive Rivalry landscaping
- Market trend and forecast analysis
- Future Growth Boulevards
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Geogrid Market Segment Insights:
Type: uniaxial geogrids, biaxial geogrids, and triaxial geogrids
Based on the type, the market is segmented as uniaxial geogrids, biaxial geogrids, and triaxial geogrids. The biaxial geogrid segment captured the largest share of the market in 2018, and is estimated to maintain its dominance during the forecast period. This growth is owing to the exceptional junction strength and optimum load bearing properties of the biaxial geogrid. Higher demand for geogrids for road construction is mostly bolstering the market for biaxial geogrids globally, as they are employed in the construction of highways, flyovers, and bridges.
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Application Type: road construction, railroad stabilization and others
Based on the application type, the market is segmented as road construction, railroad stabilization, soil reinforcement, and others. Road construction is estimated to be the largest application type segment of the geogrid market. Geogrids offer an improved road surface quality and safety of roads, eliminated need of over-excavation and disposal of poor-quality soil, high performance of earth moving vehicles, low maintenance requirements, and resistance against inclement weather conditions such as heavy rains to the structure or area. Further, their use is environmentally safe, as it aids in reducing carbon emissions.
A highly/moderately/fragment consolidated Market
Some of the major players in the geogrid market are ACE Geosynthetics, Asahi-Kasei Geotech, BOSTD Geosynthetics Qingdao Ltd., Carthage Mills, CTM Geosynthetics, GSE Environmental, Inc., HUESKER inc., NAUE GmbH & Co. KG, Officine Maccaferri SpA, and Propex Operating Company.
Region: North America is estimated to become the largest market
In terms of regions, North America is estimated to become the largest market for geogrids during the forecast period with the countries such as the U.S. expected to modernize and expand its prevalent infrastructural facilities in the coming five years. On the other hand, the market in Asia-Pacific is estimated to register the highest growth during the forecast period, in terms of value and volume. Europe is also expected to offer substantial growth opportunities during the forecast period.
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