Presedence Research Reports

Iron and Steel Market (By Product: Flat Products, Long Products, Tubular Products,
Semi-finished Products, Others; By Application: Building & Construction, Automotive &

Transportation, Heavy Industry, Consumer Goods, Others) - Global Industry Analysis,
Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2032
 Report Description
 Table of Content
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The global iron and steel market size was estimated at USD 1,568.7 billion in 2022 and it is
projected to surpass around USD 2,471.25 billion by 2032, expanding at a CAGR of 4.7%
during the forecast period 2023 to 2032.
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Statistics
Key Takeaways
 The Asia-Pacific generated more than 56% of the revenue share in 2022.
 By Product, the flat segment held the largest market share in 2022.
 By Application, the building and the construction segment had the largest revenue
share at 46% in 2022.
Iron and Steel Market Overview
The industry growth is anticipated to be fueled by a moderate rise in construction spending
and increasing investments in smart cities, which are expected to raise the demand for iron
and steel products.
The global iron and steel market encompasses the production and trade of iron and steel
goods that are utilized across various industries such as construction, automotive,
aerospace, and energy. Iron and steel are essential materials for infrastructure
development, transportation, and manufacturing, making the industry crucial for the
global economy and providing employment opportunities for millions of people worldwide.
In this highly competitive market, numerous companies operate, with ArcelorMittal,
POSCO, Baosteel Group, Nippon Steel & Sumitomo Metal Corporation, and Tata Steel
being some of the prominent players. The demand and supply of iron and steel products
can fluctuate based on a range of factors, including economic conditions, technological
advancements, government policies, and environmental regulations. The industry is also
facing challenges related to sustainability and environmental impact as steel production is a
significant contributor to greenhouse gas emissions.
Growth Factors
The bulk of the iron found in ores is used to make steel, and it is a common metal that is
generally found in the form of oxide. The development of effective and innovative
technologies, a surge in demand from developing building sectors, a booming automotive
industry, and lucrative steel and construction are the main factors driving the expansion of
the global steel market. In addition, steel is increasingly being used in new industrial areas,
and expanding economies like China and India present new market potential for steel
worldwide. The availability of raw materials, the cost of substitute chemicals, the depletion
of iron ore mines, and the diminishing grade of ore are all important obstacles for the
global steel business.
Iron and steel market is being driven by several factors, which include:
 Infrastructure investment: As governments throughout the world invest in large-

scale initiatives which call for sizable quantities of iron and steel products, the iron
and steel sector is predicted to expand as a result of the increased investment in
infrastructure development.
 Development of the construction business: The industry is also benefited by the
expansion of the construction sector, which is being fueled by an increase in the
demand for residential and commercial real estate. Construction of roads, buildings,
and other constructions requires the usage of iron and steel, which are fundamental
building materials.
 Growth of the automobile sector: The production of vehicles makes substantial use
of iron and steel products, and as demand for vehicles rises, so is the need for these
materials.
 Investment in smart cities: To improve inhabitants' quality of life through
technology, cities all around the world are making investments in smart city
programmes. Constructions, facilities and transportation systems for these
endeavors must be constructed using a variety of iron and steel goods
 Technological developments: New technologies and manufacturing techniques are
continually being created to increase productivity and lower costs in the iron and
steel sector. This is anticipated to result in more output and cheaper costs, which
might boost the market's expansion for iron and steel.
Iron and Steel Market Scope
Report Coverage Details
Market Size in 2023 USD 1,634.59 Billion
Market Size by 2032 USD 2,471.25 Billion
Growth Rate from 2023 to 2032 CAGR of 4.7%
Largest Market Asia Pacific
Base Year 2022
Forecast Period 2023 to 2032
Segments Covered By Product and By Application
North America, Europe, Asia-Pacific, Latin Amer

Regions Covered
and Middle East & Africa
Iron and Steel Market Dynamics

Key Market Drivers:
 Rising investment in infrastructure - The huge infrastructure projects that

governments throughout the world are funding, including bridges, roads, airports,
and public transportation systems, are driving up demand for iron and steel goods.
The expansion of developing economies like China and India, which are extensively
investing in infrastructure to support economic development and urbanization, is a
further catalyst for this trend. For instance, China's massive Belt and Road
Initiative aims to link Asia with Europe and Africa by building a network of ports,
railroads, highways, and other infrastructure.
 Increased investment in smart cities - The need for steel and iron materials in
infrastructure and construction projects aimed at improving the quality of life for
people through technology is growing as a result of smart city efforts. Building
transportation and infrastructure to support these activities requires the use of iron
and steel materials, which is anticipated to help the iron and steel industry expand.
For instance, the Smart Cities Mission, launched by the Indian government, intends
to create 100 smart cities across the nation by 2023. The objective is to improve,
renovate, and expand communities around the country. The mission will receive
USD 869.0 million from the government in the budgets for 2021–22, and as of
March 2021, the mission has received USD 28.60 billion in total funding.
 Technological advancements - The steel and iron sector advances continually by
creating new technology and production techniques to increase productivity and
lower prices. Popularity is growing in the use of renewable energy sources like wind
and solar power to create steel, which will increase output and drive down costs. The
iron and steel sector might expand as a result of these advancements.
Key Market Challenges:
 Volatility in price - The price volatility that results from supply and demand, the
state of the economy, and geopolitical events is one of the major market issues the
iron and steel sector must deal with. Because of this, it may be challenging for
businesses to prepare for the future, which might hurt their profitability.
 Availability of the raw materials - The availability and pricing of raw resources,
such as limestone, coal, and iron ore, which are necessary for the manufacturing of
iron and steel, provide another difficulty. The price or scarcity of these resources can
have a substantial impact on manufacturing costs, which can therefore have an
effect on an industry company's profitability.
Key Market Opportunities:
 Growing demand for the steel in emerging markets - As developing countries

continue to grow in order to support building, infrastructure, and other sectors,
demand for iron and steel products is increasing. This could give strong growth
opportunities for iron and steel companies to boost their client base and share of the
market.
 Use of advanced technologies - The steel and iron industry has invested in
innovative technologies such as machine learning, large data sequence analysis or
the global Internet of Things (IoT) to optimize production processes, reduce costs
and increase efficiency.
 Growth in renewable energy - For iron and steel firms, the growing use of renewable
energy sources, such as wind and solar power, to create steel offers a chance to lower
their carbon footprint and increase environmental sustainability. Businesses may
lower their energy expenses and increase profitability by investing in renewable
energy sources.
 Development of new products - New products can be created by iron and steel firms
to meet the demands of expanding markets and shifting consumer tastes. For
instance, accelerating the creation of lightweight, high-strength steel for the
automotive sector may assist businesses in meeting new fuel economy and pollution
rules while also enhancing vehicle performance.
Product Type Insights

Flat products were the largest market share of both iron and steel markets, followed by
long products, tube products as well as rolling products during the period 2022 onwards.
Flat products are manufactured by rolling and shaping molten steel, which is turned into
flat sheets. Flat products are commonly used in the construction of buildings, automobiles,
and other industrial applications.
The flat product segment can be further classified into hot-rolled, cold-rolled, and coated
products. Long Products are manufactured by shaping molten steel into various forms such
as bars, rods, and wires. Long products are commonly used in the construction of
buildings, bridges, and other infrastructure. The long product segment can be further
classified into reinforcing bars, structural sections, wire rods, and other products.Tubular
products, such as pipes and tubes, are used in the construction of buildings, infrastructure,
and transportation systems, as well as in the energy industry for the transportation of oil,
gas, and other fluids.
Application Insights
In 2022, building and the construction category had the biggest revenue share at 46%, and
it is anticipated that this pattern would hold throughout the projection period. Because of
increased investments in building activities, the demand for steel is anticipated to rise. For
instance, in April 2022, renowned real estate developer Alliance Group declared its
intention to invest USD 1,125.8 million in building projects in Chennai, Hyderabad, and
Bengaluru.
A typical car comprises around 53% steel, according to the American Iron and Steel
Association. Many vehicle components, including chassis, frames, door panels and support
beams, are made from this metal. Steel is still preferred in the production of automobile
parts due to its durability, strength, and capacity for ongoing recycling, despite the fact
that aluminum is often used as a substitute for steel due to its less weight.
Steel is extensively used in heavy industries such as shipbuilding, defense product
manufacturing, and oil and gas. The increasing investments in these industries are expected
to drive market growth over the forecast period.
Regional Insights
The Asia-Pacific region is the dominant market for iron and steel, with a substantial share
of the global market. This can be attributed to the high demand for iron and steel products
in countries like India and China, which are major producers and consumers of these
products. Furthermore, the demand for iron and steel products is being fueled by the
growing construction and infrastructure activities in the region.
North America and Europe are well-established and consolidated markets for iron and
steel, with established players. The infrastructure and construction industries are well-
developed in these regions, which is driving the demand for iron and steel products.
However, the growth of the market in these regions is expected to be moderate due to
saturation in several end-use industries.
Latin America and the Middle East & Africa regions are considered emerging markets for
iron and steel, with substantial growth potential. The demand for iron and steel products is
being driven by the increasing population, urbanization, and rising construction activities
in these regions. However, market growth in these regions is hindered by challenges such as
political instability and lack of infrastructure.
Recent Developments
As a highly versatile material, steel finds extensive usage across various heavy industries,
such as shipbuilding, defense product manufacturing, and oil and gas. It is anticipated that
the burgeoning investments in these sectors will drive the growth of the steel market during
the projected period. For instance, in February 2022, the German government announced a
plan to invest USD 112.0 billion in military equipment manufacturing, with the objective of
dedicating over 2% of the country's economic output to the defense sector every year.
Iron and Steel Market Companies
 JFE Steel
 Arcelor Mittal
 TATA Steel
 NLMK
 Harsco
 POSCO
 JSW
 ArcelorMittal
 Kobe Steel
 Steel Authority of India
 Nippon Steel and Sumitomo Metal
 Edw. C. Levy
Segments Covered in the Report:

By Product
 Flat Products
 Long Products
 Tubular Products
 Semi-finished Products
 Others
By Application
 Building & Construction
 Automotive & Transportation
 Heavy Industry
 Consumer Goods
 Others
By Geography
 North America
 Europe
 Asia-Pacific
 Latin America
 Middle East and Africa
Frequently Asked Questions

What is the iron and steel market size?
The global iron and steel market size is expected to increase USD 2,471.25 billion by 2032
from USD 1,568.7 billion in 2022.
Modular Construction Market (By Product: Relocatable, Permanent; By Material: Wood,

Steel, Concrete, Others; By Application: Residential, Commercial, Industrial, Healthcare,
Educational) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook,
and Forecast 2024-2033
The global modular construction market size was valued at USD 97.31 billion in 2023 and is
anticipated to reach around USD 201.31 billion by 2033, growing at a CAGR of 7.54% from
2024 to 2033. This growth is linked to the growing demand for affordable housing coupled with
the increasing investment in the development of healthcare and commercial infrastructure around
the globe.
Statistics
Key Takeaways
 Europe led the market with the biggest market share of 42% in 2023.
 Asia Pacific is predicted to grow at the fastest CAGR of 8.33% over the forecast period.
 By product, the permanent modular construction segment has contributed more than 59%
in 2023.
 By product, the relocatable product segment is expected to grow at a CAGR of 7%
between 2024 and 2033.
 By material, in 2023, the steel segment has held the biggest market share of 42% in 2023.
 By material, the wood material segment is anticipated to grow at a notable CAGR 7.42%
over the projected period.
 By application, the residential segment has accounted more than 53% of market share in
2023.
Modular Construction Market Size in Europe 2024 to 2033
The Europe modular construction market size was estimated at USD 40.87 billion in 2023 and is
projected to surpass around USD 85.56 billion by 2033 at a CAGR of 7.66% from 2024 to 2033.
Europe contributed more than 42% of the market share in 2023, largely due to high adoption
rates in countries like Germany, Finland, the U.K., and Sweden. The main driving force behind
this growth is the increasing influx of migrants, necessitating the development of both temporary
and permanent housing structures. Furthermore, factors such as significant investments and the
adoption of advanced technologies contribute to the expansion of the modular construction
market in Europe. In the U.K., modular construction is gaining traction as an effective method
for building affordable homes. This trend is driven by factors like population growth and housing
shortages.
Asia Pacific is predicted to witness the fastest growth in the modular construction market,
with a significant CAGR over the forecast period. This is linked to factors such as the
expansion in the commercial and residential construction sector. Also, the increase in
investments in the industry by market players, as well as government funding, drive the growth
of the market in the region.
Modular Construction Market Overview
Modular construction involves creating prefabricated homes or structures using the same
materials and design principles as traditional building methods. These structures are assembled
using modules that are constructed off-site in a controlled environment. When all modules are
combined, they match the exact design specifications required by building codes and standards.
This method allows for efficient and consistent construction, ensuring that the final structure
meets the same quality standards as those built on-site.
Modular structures can be easily taken apart, renovated, and moved for new modular homes,
which reduces the need for raw materials and energy in building new structures. Modular
construction, being controlled in factories, produces less waste and minimizes disruption on-site.
With site work and modular building happening simultaneously, projects can be completed in
half the time compared to traditional methods.
Growth Factors
 Increase in population and urbanization are driving the growth of the modular
construction market.
 Rise in technological advancements in the construction industry coupled with innovations
provided by modular construction can boost the market growth further.
 Growing efforts by the market players to adopt and use new technologies like 3D printing
and building information modeling are likely to fuel the growth of the modular
 Encouraging government initiatives and increasing concerns for work zone safety
contribute to market expansion.
 The industry is profiting from the growing trend towards sustainable construction
methods and the rise in construction projects in developing countries.
Modular Construction Market Scope
Global Market Size in 2023 USD 97.31 Billion
Global Market Size by 2033 USD 201.31 Billion

Largest Market Europe
Base Year 2023
Segments Covered By Product, By Material, and By Application
North America, Europe, Asia-Pacific, Latin America

Regions Covered
Middle East & Africa
Modular Construction Market Dynamics

Driver
Rise in urbanization and industrialization with an increase in the speed of construction and
high efficiency
Modular construction, a modern method gaining popularity in building homes and businesses, is
considered revolutionary. The increasing urbanization and industrialization have boosted
economies, leading to a surge in demand for modular buildings. These structures are preferred
because they are quicker to construct, resulting in lower overall costs.
With developing regions like Asia, Latin America, and Africa experiencing rapid population
growth and urbanization, there's a significant rise in demand for housing, infrastructure, and
social services. Modular construction allows designers to select parts based on effectiveness,
saving time and money. Its efficiency and durability make it a preferred choice among
professionals, which contributes to the growth of the modular construction market.
 A report published by Society Africa in May 2023 states that Africa drives global
urbanization. Jean-Michel Bos. Although Africa's population is predominantly rural, the
continent is now driving urbanization.
Restraint
Lack of reliability in earthquake-prone areas and lack of skilled labor
The modular construction market faces challenges related to earthquakes due to their lightweight
module units and construction methods. Precast frame panels may not withstand strong
earthquakes, and roofs and walls made of light materials like wood or metal can bend and
deform. Consequently, modular construction is less prevalent in earthquake-prone areas.
Fear of technology and logistical issues also hinder market growth. Large projects like
distribution centers may encounter difficulties with logistics, while smaller commercial projects
in earthquake-prone areas find modular construction impractical and costly. These limitations
pose significant barriers to the overall growth of the modular construction market.
Opportunities
The growth of the commercial sector
The market for modular construction is expanding as a result of the rising interest in this
controlled environment alternative to on-site difficulties such severe weather. Similar to this, the
market for modular construction is expanding due to the increased need for alternative
construction systems brought about by the increase in construction expenses associated
with green buildings.
Building operations in fields like hotels, offices, schools, etc. have increased as a result of the
commercial sector's explosive growth, which has increased demand for this kind of building
activity and fueled market expansion. Additionally, modular building is a popular option in
contractual construction, which propels market growth, and is more favored for projects with
stringent deadlines.
 The Central Bank of Singapore reports that the nation intends to invest more than USD
2.7 billion in housing and infrastructure projects. According to the government, by 2030,
the public sector would issue green bonds worth up to SGD 35 billion, or roughly USD
25.3 billion, to fund environmentally friendly infrastructure projects.
Rise in demand for eco-friendly buildings
The modular construction market is fueled by the growing demand for environmentally friendly
and energy-efficient buildings. Modular techniques allow for recycled and sustainable materials,
reducing the environmental impact of construction. With greater awareness of environmental
sustainability and the popularity of Green Building certifications like LEED and BREEAM, the
modular construction market is predicted to grow rapidly. Additionally, the rising demand for
high-strength materials such as high-strength steel, composites, and structural steel, known for
their lightweight and strong properties, is expected to drive market growth.
Product Insight
The permanent modular construction segment dominated the modular construction
market in 2023. Permanent modular homes are made of wood, steel, and concrete. These houses
are now becoming a popular trend among consumers because of their cost-effective, easy, and
convenient features. Furthermore, modular houses are inexpensive and easy to put with one
another and are available in different patterns and styles. Shipping containers are also being used
by a lot of competitors and builders, which contributes to market growth.
In the modular construction market, the relocatable product segment is expected to grow at
a significant rate for the forecast period. These structures can act as temporary housing for
relief, and emergency operations have gained demand over the last decade. This building is made
to be transported to various building sites. Such conveniences with regard to ease of construction
and transportation make this segment popular among rescue and relief organizations.
Material Insight
The steel segment held the largest share in the modular construction market in 2023. Steel
is utilized in various forms, such as columns, I-beam shapes, angles, and T-shapes. This material
possesses outstanding mechanical and chemical properties, including durability, high strength,
ductility, seismic resistance, ease of fabrication, and fast erection speed. It is commonly used as a
reinforcing material in concrete to offset its low tensile strength.
The wood material segment is anticipated to grow at a substantial rate in the modular
construction market during the projected period. Due to its strong compressive strength and
ability to bend, wood modular construction is gaining popularity in commercial buildings, single-
family homes, and urban housing. The ease and speed of designing high-quality wood structures
are significant factors driving market growth. Additionally, prefabricated wood products offer
greater accuracy in size compared to materials like steel and concrete, contributing to the rapid
growth of the market.
 In November 2023, Erik Brogan dives into the topic of innovation in construction and
modern woodworking. As a seasoned contractor and business owner from Minnesota,
Brogan recognizes that innovation is essential for driving the industry forward. In the
article published by Downbeach, Brogan explores the complexities of modern
woodworking techniques and technologies, highlighting advancements such as
sustainable practices and cutting-edge materials.
Application Insight
The residential segment was credited for the largest share of the modular construction
market. This is attributed to the focus on sustainability and aesthetics while constructing the
buildings. It also includes single-family houses, rental housing properties, and multi-story
buildings. The industry is seeing the rapid adoption of residential applications with reduced
building costs and time.
Commercial modular construction has become increasingly popular in recent years, particularly
in key markets like the U.K., the U.S., and Asia. The improving economic conditions in these
regions are driving demand for commercial spaces such as offices, showrooms, and hotels,
resulting in increased commercial building activities.
Recent Developments
 In May 2023, Guerdon, a modular construction company, revealed its acquisition of
Champion Homes, another player in the modular construction industry, to expand its
footprint in the residential housing market.
 In March 2023, XtreeE, a construction technology firm, disclosed its collaboration with
New Living, a modular construction company, to co-create 3D-printed modular housing
solutions.
 In January 2023, Boxabl, a modular construction company, declared securing $50
million in fresh funding to aid the advancement of its expandable modular homes.
 In December 2022, Balfour Beatty signed a memorandum of understanding with Holtec
Britain and Hyundai Engineering and Construction (HDEC) to develop small modular
nuclear reactors in the United Kingdom.
 In October 2022, Balfour Beatty announced that its 50:50 joint venture, Gammon, has
been awarded an HKD 1.3 billion (USD 0.17 million) contract on behalf of Top Oasis
Limited, a consortium formed by Sino Land Company Limited and CSI Properties Ltd to
construct a residential development in Yau Tong, Hong Kong.
Modular Construction Market Companies
 Sekisui House Ltd.
 LAING O'ROURKE
 Red Sea International
 Skanska
 Bouygues Construction
 Premier Modular Limited
 KLEUSBERG GmbH & Co KG
 DuBox
 Wernick Group
 CIMC Modular Building Systems Holdings Co., Ltd. (CIMC-MBS)
 Riko Hiše d.o.o
 Lendlease Corporation
 Modulaire Group
 Guerdon, LLC
 Hickory Group
Segments Covered in the Report
By Product
 Relocatable
 Permanent
By Material
 Wood
 Steel
 Concrete
 Others
By Application
 Residential
 Commercial
 Industrial
 Healthcare
 Educational
By Geography
 North America
 Europe
 Asia-Pacific
 Latin America
How big is the modular construction industry?
The global modular construction market size is expected to increase USD 201.31 billion by 2033
from USD 97.31 billion in 2023.
Generative AI In Construction Market (By Type: Residential, Commercial, Industrial,

Infrastructure, Others; By Technology: Machine Learning, Natural Language Processing,
Others; By Application: Design & Planning, Construction Optimization, Project
Management) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook,
and Forecast 2023-2032
The global generative AI in construction market size was estimated at USD 164.02 million
in 2022 and it is expected to hit around USD 3,327.31 million by 2032, poised to grow at a
CAGR of 35.12% during the forecast period from 2023 to 2032.
Statistics
Key Takeaways:
 North America dominated the global market and contributed more than 47% of revenue
share in 2022.
 Europe is expected to witness the fastest CAGR from 2023 and 2032.
 By type, the infrastructure segment is expected to hold the largest market share during the
forecast period.
 By technology, the machine learning segment is expected to dominate the market growth
over the forecast period.
 By application, the design & planning segment captured more than 39% of the revenue
share in 2022 and is expected to dominate the market over the forecast period.
Generative AI In Construction Market Overview:
Artificial intelligence that uses generative techniques may create a variety of material, including
text, images, music, and synthetic data. The ease of use of new user interfaces for quickly
producing high-quality text, pictures, and pictures has fueled current interest in generative AI.
Construction project design and planning is one of the primary areas where generative AI
benefits. Traditional design methods frequently rely on hand-crafted iterations and human
imagination, which can be time-consuming and constrained in their ability to explore a broad
variety of options. On the other hand, generative AI algorithms can quickly develop and assess a
variety of design possibilities based on established parameters, restrictions, and objectives.
Having the option to examine several design alternatives enables engineers and architects to find
creative solutions that would not have been seen otherwise. In addition, the allocation of
resources and building processes may both be optimized with generative AI. Generative models
can recognize trends and suggest the best course of action by examining past construction data,
including project timelines, prices, and material utilization.
 According to Peak’s Decision Intelligence Maturity Index, In 2022, 92% of construction
companies said they were using or intended to use AI.
Growth Factors:
The most effective building schedules, cost-cutting strategies, and alternative material
recommendations that support sustainability objectives may all be determined using these
models. The need for large-scale project management, cost-based forecasting, and resource and
time savings are driving the growth of the worldwide generative AI market in the construction
industry. Additionally, it is projected that efficient operations management would promote
market growth by lowering expensive errors and workplace accidents.
Generative AI In Construction Market Scope
Market Size in 2023 USD 221.62 Million
Market Size by 2032 USD 3,327.31 Million
Largest Market North America
Fastest Growing Market Europe
Base Year 2022
Segments Covered By Type, By Technology, and By Application

Regions Covered
Generative AI In Construction Market Dynamics:

Driver:
Rising use of generative AI for building design
Building information modeling is a 3D model-based technique that provides architects,
engineers, and construction workers with the information they can use to effectively plan, design,
build, and manage infrastructure and structures. The architecture, engineering, mechanical,
electrical, and plumbing (MEP) plans, as well as the order of the various teams' operations, must
be considered in the 3D models when planning and designing a project's construction. Making
ensuring that the various models from the various sub-teams do not conflict with one another is
the problem. To discover and resolve conflicts between the many models produced by the
various teams, the industry leverages machine learning in the form of AI-powered generative
design. This reduces the need for rework.
There is software that explores every possible variant of a solution and provides design
alternatives using machine learning techniques. The generative design program develops 3D
models suited for the limitations when the user enters their needs into the model. Iteratively
creating models, it learns from each one until it finds the best one. Thus, this is expected to drive
the growth of generative AI in the construction market.
Restraints:
Cultural shifts and ethical consideration
A culture shift inside enterprises may be necessary to implement generative AI in construction.
Construction industry experts may need to adjust to new working, cooperating, and decision-
making processes. The widespread implementation of generative AI in construction may be
hampered by organizational buy-in requirements, resistance to change, and a lack of knowledge.
Similarly, the use of generative AI in the construction industry raises ethical concerns about the
possible effects on employment, intellectual property rights, and prejudice in AI-generated
designs. Building credibility and confidence throughout the industry requires addressing these
ethical issues and ensuring fair and responsible usage of generative AI technology. Thus, it acts
as a major restraining factor for the market growth over the analysis period.
Opportunities:
Sustainable construction practices
Green techniques and sustainability are becoming more and more important in the construction
sector. By optimizing designs for energy efficiency, waste reduction, and sustainable material
utilization, generative AI may help with sustainable building. Utilizing generative AI to produce
eco-friendly design options, suggest eco-friendly materials, and optimize resource utilization
presents a chance to meet sustainability objectives and laws. Thus, the advantages of generative
AI in sustainable construction practices are expected to offer an attractive opportunity for market
development over the projected period.
Type Insights:
Based on the type, the global generative AI in the construction market is segmented into
residential, commercial, industrial, infrastructure and others. The infrastructure segment is
expected to grow at the fastest rate during the forecast period. The segment growth is attributed
to the increasing infrastructure investment across the globe. With growing infrastructure projects
across the globe, the utilization of AI in infrastructure is growing drastically because of various
uses such as design and optimization, structural analysis and risk assessment, process
optimization and others. Thereby, driving the segment growth.
Technology Insights:
Based on the technology, the global generative AI in the construction market is segmented into
machine learning, natural language processing and others. The machine learning segment is
expected to dominate the market growth over the forecast period. Generative AI systems can
forecast maintenance requirements, and equipment breakdowns, and improve asset
management in building projects through machine learning techniques. Machine learning
models can create predictive maintenance plans, enhance asset usage, and reduce downtime by
examining sensor data, previous maintenance records, and sector-specific information. Machine
learning algorithms can provide energy-efficient designs, suggest sustainable materials, and
improve energy management techniques by examining energy usage statistics, environmental
conditions, and building specifications. These models help reduce the environmental effect of
construction projects and get green building certifications. Thus, the utilization of machine
learning in different applications in construction drives the revenue of the segment.
Application Insights:
Based on the application, the global generative AI in the construction industry is divided into
design & planning, construction optimization, project management and others. The design &
planning segment is expected to dominate the market over the forecast period. The use of AI in
the design & planning area of the construction sector has several advantages, including increased
efficiency and accuracy as well as improved decision-making.
In addition, over the past several years, a new method for producing the 3D models that
construction professionals rely on to precisely plan, build, and repair has emerged. The use of
building information modelling enhance construction’s capabilities with intelligent, AI-driven
features. Toric, a data platform used by engineering, construction, and other industries that
allowed anybody to connect, convert, model, and visualize data without writing code, secured
USD 22 million in investment in 2022. Toric will offer extra interfaces for Autodesk
Construction Cloud and the BIM tools for design from Autodesk, including Revit, and Civil 3D,
as part of the investment. Thus, the rise in AI technology investment drives segment growth.
Regional Insights:
North America is expected to dominate the market during the forecast period. The regional
growth is attributed to the well-developed technology ecosystem and the growing construction
industry. North America is an important AI research and development region with a well-
established technological ecosystem. This makes it easier for the construction sector to acquire
and incorporate generative AI technology. Advances in technology, including cloud
computing, data analytics, and machine learning algorithms, support the expansion of the
generative AI industry in the region.
Similarly, with multiple substantial infrastructure projects, commercial buildings, and residential
construction, they have a thriving construction industry. The requirement for effective project
management, cost efficiency, and sustainable practices drives the use of generative AI solutions
in the construction industry. The generative AI's capacity to improve decision-making, expedite
procedures, and optimize design is in line with the demands of the region's expanding
construction industry.
For instance, in 2022, nonresidential expenditure in the United States was estimated to be $888
billion ($534 billion private and $355 billion public). Additionally, the U.S. spent $910 billion on
residential construction ($442 billion on single-family homes, $105 billion on multifamily
housing, $354 billion on upgrades, and $9 billion on public projects).
Europe is expected to grow at a substantial rate over the forecast period owing to the presence of
several market players such as Autodesk, Trimble Inc., RIB Software and others. These
companies constantly launch their product, which is expected to penetrate the market expansion
in the region. For instance, in May 2023, for improved carbon measurement in construction, RIB
Software announced the release of the RIB Carbon Quantifier. To optimize carbon measurement
in construction, RIB Software has released the RIB Carbon Quantifier. Building Transparency, a
non-profit organization, and RIB Software, a top international provider of cutting-edge
technological solutions for the architectural, engineering, and construction (AEC) industry, have
teamed together to create the RIB Carbon Quantifier. The program enables users to quickly,
simply, and reliably analyze the carbon environmental product declaration (EPD) values.
Recent Development:
 In May 2023, Autodesk Inc announced the release of initial set of Autodesk Forma
capabilities. The new step by Autodesk aims to integrate processes across teams that
design, operate and build the buily environment.
 In June 2023, a global learning platform provider focused on AI and innovation, Docebo
Inc announced the acquisition of Edugo.AI. The acquisition aims to offer two key goals
which are improving existing AI skills and bringing new features to Docebo.
Generative AI In Construction Market Companies
 Autodesk Inc.
 Dassault Systemes
 Trimble
 Bentley Systems
 Katerra
 Oracle Corporation
 Aurora Computer Services
 Building System Planning Inc.
 IBM Corporation
 Microsoft Corporation
By Type
 Residential
 Commercial
 Industrial
 Infrastructure
 Others
By Technology
 Machine Learning
 Natural Language Processing
 Others
By Application
 Design & Planning
 Construction Optimization
 Project Management
By Geography
 North America
 Europe
 Asia-Pacific
 Latin America
What is the generative AI In construction market size?
The global generative AI In construction market size is expected to increase USD 3,327.31
million by 2032 from USD 164.02 million in 2022.
Construction Materials Market (By Type: Construction Aggregates, Concrete Bricks,

Cement, Construction Metals , Others; By Application: Residential Sector, Industrial
Sector, Commercial Sector) - Global Industry Analysis, Size, Share, Growth, Trends,
Regional Outlook, and Forecast 2023-2032
The global construction materials market size was reached at USD 1.3 trillion in 2022 and
it is expected to hit around USD 3.52 trillion by 2032, poised to grow at a CAGR of 10.97%
from 2023 to 2032.
Statistics
Key Takeaways:
 North America region generated the maximum revenue share in 2022.
 By application, the residential segment contributed the largest revenue share in 2022.
 By type, the construction aggregates segment is predicted to hold a remarkable market
share from 2023 to 2032.
Construction Materials Market Overview:
Any substance used in building the infrastructure is referred to as construction material.
Buildings have been made with a wide range of naturally existing materials, including pebbles,
clay, wood, sand, twigs, and leaves. Major materials involved in the construction industry
include bricks, concrete, cement, corrosion additives, timber, ceramics, polymers, steel, recycled
materials, glass fibers, rammed earth, bamboo, bituminous materials, and advanced building
materials.
The construction material market growth is majorly driven by the increasing use of construction
materials in the commercial and residential sectors. In order to meet customer requirements,
construction firms are raising their capital investments and focusing more on research &
development (R&D) operations and higher-quality products.
Infrastructure projects, growing population, increasing per capita income, loan facilities, and
government support are the supporting factors that are expected to boost the construction market
growth in the coming years. Countries having tourism opportunities require enhanced
infrastructures for tourist accommodation. This is expected to create crucial scope for
construction materials required in building hotels, motels, and resorts.
The $20 trillion U.S. economy is relying on a wide network of infrastructure which includes
bridges, roads, ports, and freight rail. Considering the Inflation Reduction Act (IRA) and the
Infrastructure Investment and Jobs Act (IIJA), the 117th Congress has invested $1.25 trillion for
developing the infrastructure in the United States.
Further, government support for housing is creating notable demand for construction materials in
many countries. The New South Wales government has introduced the Property Tax (First Home
Buyer Choice) Bill 2022. This bill enables the first home buyers to opt to pay an annual property
tax, instead of stamp duty, when purchasing their first residential property. In total, the New
South Wales (NSW) government authority has predicted that these tax benefits will provide
support to around 97% of all first-home buyers, or approximately 57,000 people per year.
Construction Materials Market Scope:
Market Size in 2023 USD 1.38 Trillion
Market Size by 2032 USD 3.52 Trillion
Base Year 2022
Segments Covered By Type and By Application
North America, Europe, Asia-Pacific

Regions Covered
Africa
Construction Materials Market Dynamics:

The expansion of airports in the United States is creating significant demand for respective
construction materials. In February 2022, John F. Kennedy International Airport was planned to
be upgraded with a $1.5 billion modernization and expansion of Terminal 4. This modernization
and expansion plan for Terminal 4 consists of the renovation of existing concourses, roadway
upgrades; and the addition of 10 new gates which is scheduled to be completed by 2023.
The O’Hare Modernization Program includes the expansion of terminals 3 and 5 and the creation
of a new Global Terminal. Around $8.5 billion is expected to be spent on this expansion plan.
Thus, rising expenditures on the modernization and expansion of existing airports in the U.S. is
creating a high demand for the required construction materials.
In many developing countries in Asia and Africa, the residential and industrial are expanding
significantly. As per India Brand Equity Foundation (IBEF), India's real estate industry is
predicted to account for US$ 1 trillion in market size by 2030 and is expected to hold 18-20% of
India's gross domestic product (GDP). Private market investor, Blackstone has invested
significantly in the Indian real estate sector. Blackstone further seeks to invest an additional $22
billion (â‚¹ 1.7 lakh crore) by 2030. Thus, rising investment in the real estate sector creates
remarkable demand for construction materials such as sand, metal, bricks, steel, and cement.
The average monthly disposable income of workers' households in Japan in 2021 amounted to
approximately ¥ 492,700 ($ 4,621.58). Thus, a high average monthly disposable income of
Japanese workers’ households increases the home loan installment paying capacity considerably.
The Real Estate Economic Institute had forecasted that 14,000 new flats will enter the Japanese
real estate industry in the 23 wards of Tokyo in 2022. In 2021, as per the Kensho calculations,
residential real estate witnessed net new investments of worth €10.8 billion ($12.22 billion).
Thus, the high income of people and t growing real estate sector drive the construction
materials market growth in Japan drastically.
COVID-19 Impact:
The pandemic of COVID-19 had a significant adverse impact on the construction industry, which
is sensitive to economic cycles. In the United States, almost 45% of construction contractors
faced adverse effects of the outbreak. Due to various restrictions and lockdown measures, all
construction activities were stopped in China. Around 44% of construction companies in Italy
claimed that the COVID-19 pandemic hampered their work drastically. The scarcity of raw
materials, limited workforce, and construction restrictions disrupted the supply chain and
impacted the construction material market from the supply side. Also, due to job loss or salary
cuts, the buying power of the end user also decreased substantially.
As part of the 2020 Annual Capital Expenditures Survey (ACES), it was found that 6.0 percent
of companies canceled, 8.2 percent decreased, 9.7 percent postponed, and 1.5 increased some of
their budgeted capital expenses in the midst of the COVID-19 pandemic. The American Rescue
Plan planned to allocate funding of $ 350 billion due to emergency for eligible local, state, tribal,
and territorial governments to respond to the COVID-19 situation and bring back the lost jobs
across automobile, real estate, hospitality, and various other sectors. This funding is anticipated
to be helpful in improving the purchasing power of the people who intended to buy their own
houses.
Type Insights:
Based on type, the global construction materials market is segmented into construction
aggregates, concrete bricks, cement, construction metals, and others. The Construction
Aggregates segment is expected to hold a significant market share during the forecast period.
The growth in the segment is attributable to rapid growth in the construction industry in various
developing countries of the world.
Aggregates have a wide range of uses in the construction industry. ¬The construction aggregates
are most commonly useful in asphalt concrete, portland cement concrete, backfill, railroad
ballast, roadway base course, and erosion control. Construction aggregates are a part of¬ bridges,
public and private buildings, ¬roads and highways, airports, and seaports.
The top 5 bridge construction projects that began in the United States in the 4th quarter (Q4) of
2021 are Portal Bridge Enhancement ($1,880 million), I-70 Rocheport Bridge & Mineola
Climbing Lanes ($240 million), Sherman Minton Bridge Rehabilitation ($137 million), Rumson-
Sea Bright Bridge Replacement ($130 million), and Cape Canaveral Spaceport Indian River
Bridge Replacement ($126 million). With the construction of such big-budget bridges, the
demand for construction aggregates is growing substantially.
Based on application, the global construction materials market is segmented into the residential
sector, industrial sector, and commercial sector. The residential segment had the highest revenue
share in 2022, and it is expected that it would continue to dominate the market during the study
period as a result of the growing residential real estate sector.
The residential sector in China is expected to grow at a promising rate in the coming years. As of
2022, the urbanization rate in China was 64.7this rate is predicted to reach 75-80% by 2035. In
February 2022, banks in almost 90 cities in China cut mortgage rates in order to boost the sales
and buying power of the purchaser in the residential property market in the country.
As per the analysts, the turnover in the real estate industry in Germany in 2021 reached a record
high of € 337 billion ($381.61 billion). In the coming years, Germany’s hotel industry is set to
expand with 364 additional properties and 57,926 rooms. Hamburg, the home to Germany’s
largest seaport, is all set to have 23 new hotels and 5,625 extra rooms in near future. In the
capital city of Berlin, 19 hotels are expected to open, which will add up to 4,121 new rooms. The
French hotel market is anticipated to have 96 additional properties and 15,485 rooms during the
forecast period. Thus, the construction of new hotels is adding significantly to the growth of the
commercial sector segment.
Regional Insights:
In 2022, North America held the largest revenue share in the construction material
market. North America is the most developed continent owing to the presence of nations with
favorable economic policies, high gross domestic product (GDP), early adoption of advanced
infrastructures, and an ecosystem of well-established construction industry.
The immigrant population is rising notably in Canada since past few years. Canada’s population
is rising at almost double the pace of each G7 country. Approximately 4/5th of the 1.8 million
population rise from 2016 to 2021 was attributable to the new arrivals in Canada, either as
temporary or permanent immigrants. While the pandemic of COVID-19 slowed the movement of
people across the world, nearly 185,000 permanent immigrants arrived in Canada in the financial
year 2020. Thus, the rising population in Canada is creating immense scope for the residential
real estate market.
The Asia Pacific (APAC) is projected to be a lucrative region for the construction material
market over the forecast period. The residential construction sector growth in the APAC region is
supported by the government’s initiatives that promote housing for all, rising income levels, and
people’s inclination towards personal housing. Approximately 178,000 new houses are
forecasted to be constructed in Australia in the fiscal year 2025.
Due to low literacy, uncertainty, and civil war in African countries, the construction material
market in Africa is expected to grow at a comparatively slow rate. The Middle East region is
considered to be a fast-growing region with respect to commercial construction. The gulf
countries are witnessing various new retail stores, office buildings, factories, and warehouses.
Considering the Kingdom of Saudi Arabia’s Vision 2030, the flagship project NEOM is
anticipated to create promising opportunities for the construction material market in the Middle
East region.
As mentioned by the International Trade Administration (ITA), the United Arab Emirates (UAE)
construction sector is predicted to observe a promising recovery in the next 4 years, with
construction industry value growing at a significant rate of 3.7-4.7%. The United Arab Emirates
is working on the $11 billion Etihad rail project and the $2.7 billion Sheikh Zayed double-deck
road project. Such high investment is anticipated to create immense scope for respective
construction materials across the UAE.
In March 2022, the government of Egypt announced that it has decided to implement 45 major
national and strategic infrastructure projects across the country. As per the Central Bank of Egypt
(CBE), the value of the construction industry grew by 8.5% year on year (YoY) in the 4th quarter
(Q4) of 2021, preceded by Y-o-Y growth of 10.7% in the 3rd quarter (Q3) and 8.3% in 2nd
quarter (Q2) of 2021. Thus, the promising rise in the construction industry in Egypt is anticipated
to enhance the requirement for steel, concrete, stone, brick, and wood.
Recent Developments:
 In April 2022, Adani Road Transport (ARTL) got a Letter of Award (LoA) from the
National Highways Authority of India (NHAI) for a road project worth $ 242.71 million
(â‚¹ 2,008.47 crores). ARTL is a wholly owned subsidiary of Adani Enterprises and is
involved in the business of operation, construction, and maintenance of highways, roads,
and expressways.
 The Gas Industry Roads Upgrades in the Northern Territory in Australia will be
upgrading priority sections of roads for supporting the development of gas resources
around the Beetaloo Sub-basin. Road upgrades particularly will include widening and
strengthening. For this project, the Northern Territory Government Contribution allocated
$43.4 million and the Australian Government has sanctioned $173.6 million. The
construction in this project is scheduled to commence from early 2023 and is expected to
be completed by late 2026.
Construction Materials Market Companies:
 Anhui Conch Cement
 Asahi Glass
 BBMG
 Cemex
 China National Building
 CRH PLC
 Daikin Industries
 Ferguson
 Grasim Industries
 HeidelbergCement AG
 LafargeHolcim
 Masco
 Saint-Gobain
 Sika
By Type
 Construction Aggregates
 Concrete Bricks
 Cement
 Construction Metals
 Others
By Application
 Residential Sector
 Industrial Sector
 Commercial Sector
By Geography
 North America
 Europe
 Asia-Pacific
 Latin America
 The Middle East and Africa
What is the construction materials market size?
The global construction materials market size was accounted at USD 1.3 trillion in 2022 and it is
expected to reach around USD 3.52 trillion by 2032.
Building and Construction Tapes Market (By Product: Double-sided Tapes, Masking Tapes
, Duct Tapes; By Backing Material: Polyvinyl Chloride, Polyethylene Terephthalate,
Polypropylene, Foil, Polyethylene, Foam, Paper, Others; By Application: Flooring, Walls &
Ceilings, Windows, Doors, Roofing, Plumbing, HVAC; By Function: Bonding, Protection,
Sound Proofing, Insulation, Cable Management, Glazing; By End-Use) - Global Industry
Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2032
The global building and construction tapes market size was reached at USD 3.9 billion in
2022 and it is expected to hit around USD 5.74 billion by 2032, poised to grow at a CAGR
of 3.94% from 2023 to 2032. The rising infrastructural activities in developing countries are
boosting the growth of the building and construction tapes market.
Statistics
Key Takeaways:
 Asia Pacific generated the maximum share of the global market.
 North America is expected to expand at a remarkable rate between 2023 and 2032.
 By product, the double-sided tapes segment is predicted to dominate the market from
2023 to 2032.
 By product, the masking tape segment is expected to show a significant growth from
2023 to 2032.
 By backing material, the polyvinyl chloride (PVC) segment is projected to grow at a
significant rate between 2023 and 2032.
 By backing material, the foil segment is expected to witness a remarkable growth from
2023 to 2032.
 By application, the wall and ceilings segment led the global market with the majority of
revenue share.
 By function, the protection segment captured the largest share of the global market.
 By function, the glazing segment is expected to expand at a remarkable rate from 2023 to
2032.
 By end-use, the residential segment is predicted to grow at a CAGR of 5.5% from 2023
to 2032.
Building and Construction Tapes Market Overview:
Building and construction tapes are used to offer extensive adhesion for various applications in
an infrastructure. Building and construction tapes are made up of synthetic materials that bond
two surfaces to support contraction. Apart from providing aesthetic appearance to both internal
and external structures of the building, Building and construction tapes have unmatched benefits,
including easy and fast application on any surface and protection of walls and windows.
Moreover, the Building and construction tapes are used to remodel the building structure,
insulate the building, paint, and hold or bundle wires. Buildings’ systems and components
require proper protection from adverse weather conditions, external forces, pollution, cracks,
excess sounds/vibrations and multiple other factors that harm the well-being of the construction.
Building and construction tapes address acoustic, sealing, waterproofing and fireproofing
obstacles/challenges. Moreover, building and construction tapes reduce the overall cost of
materials required at the construction site. The rising trend and popularity of innovative and
valuable residential and commercial buildings will fuel the demand for Building and construction
tapes in the upcoming years.
Growth Factors:
The global Building and construction tapes market is expected to witness a significant increase
during the forecast period, with rising construction activities in developing countries across the
globe. The rising demand for advanced solutions in wire harnessing in newly constructed
buildings is another significant driver for the market’s growth. However, the increasing
environmental concerns and fluctuating prices of raw materials are prone to hinder the
development of the global Building and construction tapes market.
The building and construction tapes are observed as an excellent solution for the interior design
of the building; the requirements for advanced door and window locking systems are expected to
boost the demand for Building and construction tapes during the projected timeframe. Prominent
companies involved in the automotive adhesive tape market are focused on developing more
environmentally friendly yet efficient building construction tapes. This factor is considered to
boost the market’s growth during the projected time.
Along with the rise in new construction, the demand for Building and construction tapes is
increasing for retrofit or renovation applications. The growth of the global building and
construction tapes market is attributed to the rising demand for tapes in wiring and other
electrical applications.
The increasing demand for advanced plumbing solutions in the new construction of residential
buildings is fueling the demand for building construction tapes. Factors such as product
expansion, partnerships, innovations in tapes, improving adhesion quality and opportunities in
well-established countries are propelling the growth of the building and construction tapes
market.
Building and Construction Tapes Market Scope:
Market Size in 2023 USD 4.05 Billion
Market Size by 2032 USD 5.74 Billion
Fastest Growing Market North America
Base Year 2022
By Product, By Backing Material, By

Segments Covered
End-Use
Regions Covered North America, Europe, Asia-Pacific

Africa
Building and Construction Tapes Market Dynamics:

Driver:
Rising construction activities in developing countries
The rising industrialization and commercialization in developing countries located in Africa,
Latin America and Asia are fueling the demand for construction activities. The construction
industry plays a vital role in the emerging economies of such countries.
Developing countries require adequate building structures for businesses, housing, and other
purposes. Considering India is one of the most prominent developing nations, revolutionary
schemes such as the smart city mission, which has targeted 100 cities in the country is, projected
to improve the infrastructure with advancements and modernization.
Improvements in the construction of buildings require innovative solutions; building and
construction tapes can offer advanced insulation and protection solutions. Thus, the rise in
construction activities is observed to boost the growth of the building and construction tapes
market.
Restraint:
Weather limitations associated with the building and construction tapes
Despite offering unmatched advantages to the building structure, few adverse weather conditions
can affect the adhesion and overall productivity of building construction tapes. Excess heat can
completely change the adhesive performance of building construction tapes; high-temperature
conditions melt the adhesion. In contrast, shallow temperature conditions fail the application of
tapes. Moreover, certain building and construction tapes are sensitive to UV rays.
Along with this, tapes with no water-resistant properties cannot perform well in the rainy season.
Excess humidity and even dryness in the weather are prone to affect the adhesion of tapes. Thus,
such weather limitations hamper the market’s growth by creating an obstacle. However, the
market players are focused on developing tapes that can withstand extreme weather conditions to
combat such obstacles.
Opportunity:
Production of eco-friendly tapes
Building and construction tapes are non-biodegradable. Also, the production of such tapes
releases volatile organic compounds. Overall, building and construction tapes can be harmful to
the environment. The rising environmental concerns have forced market players to develop green
or eco-friendly tapes that can combat severe environmental issues, this is also observed to offer
lucrative opportunities to manufacturers.
Multiple companies involved in the global building and construction tapes market have already
shifted their focus to the production of eco-friendly tapes in order to contribute to the
environment. For instance, in July 2022, a globally leading manufacturer of tapes, nitto denko
corporation, announced a new scheme for recognizing environmentally friendly products.
Nitto Denko Corporation has announced identifying its products by assigning PlanetFlags and
HumanFlags. This step by the company highlights its social contribution. Low VOC- double-
sided adhesive tape launched by Nitto Denko Corporation in 2021 has been recognized under the
PlanetFlags category.
Covid-19 Impacts:
The Covid-19 pandemic has adversely affected every industry across the globe. Similarly, the
pandemic has shown multiple adverse effects on the global building and construction tapes
market. The development of the building and construction tapes market is co-related with the
growth of the construction industry.
The sudden outbreak of coronavirus put a prolonged halt on construction activities which
resulted in declined demand for building and construction tapes across the globe. The lockdown
during the Covid-19 pandemic paused new product launches, partnerships, acquisitions and other
business activities in the global building and construction tapes market.
Lack of workforce and shortage of raw materials resulted in delayed or denied production of
building and construction tapes worldwide. However, the global building and construction tapes
market is expected to recover at a pace during the forecast period with rising construction
activities.
Product Insights:
The double-sided Building and Construction Tapes segment is expected to dominate the
market during the forecast period. Double-sided building and construction tapes hold
unmatched properties such as vibration dampening, shock absorption and compensation of
uneven surfaces. Considering these advantages, the demand for double-sided building and
construction tapes has increased tremendously in recent years.
The masking tape segment is anticipated to show a noticeable growth during the analyzed
period owing to the rising adoption of masking tapes for temporary protection. Masking tapes
are widely used during painting work, and masking tapes are considered ideal for holding the
initial grip for newly fitted components in the building structure.
Duct tape is considered to remain an attractive segment of the global Building and
Construction Tapes market. Duct tapes are widely used in HVAC applications. Duct tapes
provide an excellent bond with metals, copper, ceramic and concrete. Duct tapes are single-sided
tapes used to generate thermal comfort.
Backing Material Insights:
The polyvinyl chloride (PVC) segment is expected to boost at a significant rate during the
forecast period. Polyvinyl chloride (PVC), being an excellent thermoplastic material, offers
proper mechanical properties. This material is water and flame resistant and hence, used as a
backing material for interior and exterior applications in the building construction industry.
At the same time, the foil segment is projected to witness a significant increase during the
forecast period. Aluminum or copper foil tapes are utilized in the construction industry to
protect critical electrical compounds present in the building structure. Foil Building and
construction tapes offer excellent frame-retardant properties, and aluminum and copper
materials' excellent malleability and flexibility make them an ideal component for foil tapes.
The application segment of the global building and construction tapes market is competitive. By
application, the market is segmented into flooring, walls & ceilings, windows, doors, roofing,
plumbing and HVAC.
The wall and ceilings segment dominates the global market with the highest revenue share.
Building and construction tapes offer quality covering between the plaster borders on walls and
ceilings. The rising demand for temporary repair of ceiling joints is boosting the growth of the
wall and ceilings segment.
The growth of the window segment is attributed to the rising requirement for flexible tapes to
cover corners and angles of windows to limit the penetration of wind and water. Building and
construction tapes provide permanent and reliable fixing of glass panels. At the same time, the
door segment is growing owing to the recent advancements in adhesive tapes for the installation
of doors. Building and construction tapes offer fast and easy fixation of minor components of
windows and doors.
Function Insights:
The protection segment holds the largest share of the global Building and Construction
Tapes market. Components of buildings are vulnerable to corrosion due to adverse weather
conditions, and building and construction tapes protect windows, doors and other surfaces from
the potential danger of corrosion. The enormous demand for tapes to offer a waterproof,
permanent and airtight seal to the building structure has supplemented the growth of the
protection segment.
The glazing segment is expected to significantly increase during the projected
timeframe owing to the rising demand for glazing windows from the commercial segment.
Building and construction tapes used for glazing purposes typically create an inside seal to
prevent water and wind penetration. Sensitive acrylic foam tapes are utilized for glazing
functions in buildings.
The insulation segment is growing at a pace due to significant demand for aluminum foil
Building and construction tapes that can control the energy loss and gain in order to offer thermal
insulation to the building structure.
End-Use Insights:
The residential segment dominates the market, and the segment is expected to grow at a
CAGR of 5.5% during the analyzed period. In recent years, the construction industry has
witnessed a significant requirement for aesthetic interiors of residential buildings; this has
highlighted the function of building and construction tapes in the residential segment. Moreover,
the growth of the residential segment is attributed to the rising demand for building and
construction tapes for both permanent and temporary repair at residential structures.
At the same time, the commercial segment is expected to witness a significant
increase. Developing countries are expected to boost the growth of the commercial segment due
to the rising construction of commercial structures, including institutions, theatres, and malls.
Regional Insights:
Asia Pacific holds the largest share of the global building and construction Tapes
market. The rising infrastructural activities in India and China are observed to be the major
drivers for the growth of the building and construction tapes market in Asia Pacific. China is one
of the largest distributors of raw materials required in the tape manufacturing industry. Along
with this, the availability of cost-effective o cheap raw materials and low-cost labor in various
Asian countries are fueling the market’s growth. The rising number of commercial, institutional,
residential and energy & utilities construction in Japan is anticipated to grow the demand for
building construction tapes.
North America is expected to grow at a significant rate during the forecast period. The
rising commercial construction activities in the United States are supplementing the growth of
the building and construction tapes market in North America. The presence of significant players
and increased business activities in the country have made the United States the most important
contributor to the growth of the building and construction tapes market in North America.
The rising government's initiatives for transforming cities and housing in Latin America are
offering a plethora of opportunities to the construction industry under the Latin America and
Caribbean's development model; this is projected to boost the demand for smart construction
solutions, which highlights the growth of Building and construction tapes market in Latin
America. Moreover, the expansion of construction activities with rising redevelopment projects
in Gulf countries is expected to boost the market’s development in the Middle East.
 In January 2023, a leading company in custom engineered sealing and insulating
solutions, Zone Enterprises, announced the acquisition of Can-Do National Tape. Can-Do
National Tape is a Nashville-based specialized company in adhesive and customized tape
manufacturing. The acquisition aims to offer lucrative opportunities for Zone Enterprises
to expand its consumer base.
 In August 2022, a manufacturer and marketer of adhesive tapes, Shurtape Technologies,
announced a strategic partnership with Nastro Technologies, a Texas-based tech startup.
The partnership aims to combine both companies to launch an innovative line of
scannable adhesive tapes that will allow users to link digital information.
 In November 2022, Bostik launched two new materials for tape manufacturing in India;
Bostik HM2060 and Bostik HM2070 are two products launched by Bostik. These
materials for tape manufacturing can be utilized in various industries. The newly
launched tape materials are hot melting pressure sensitive, and they also offer oil and
solvent resistance with better adhesion properties.
Building and Construction Tapes Market Companies:
 The Dow Chemical Company
 Saint-Gobain Performance Plastic Corporation
 Canadian Technical Tape Limited
 Berry Global Inc
 Nitto Denko Corporation
 Intertape Polymer Group Inc.
 Ahlstrom Corporation
By Product
 Double-sided Tapes
 Masking Tapes
 Duct Tapes
By Backing Material
 Polyvinyl Chloride (PVC)
 Polyethylene Terephthalate
 Polypropylene
 Foil
 Polyethylene
 Foam
 Paper
 Others
By Application
 Flooring
 Walls & Ceilings
 Windows
 Doors
 Roofing
 Plumbing
 HVAC
By Function
 Bonding
 Protection
 Sound Proofing
 Insulation
 Cable Management
 Glazing
By End-Use
 Residential
 Commercial
By Geography
 North America
 Europe
 Asia-Pacific
 Latin America
What is the building and construction tapes market size?
The global building and construction tapes market size was accounted at USD 3.9 billion in 2022
and it is expected to reach around USD 5.74 billion by 2032.
3D Printing Construction Market (By Construction Method: Powder Bonding, Extrusion,
Others; By Material Type: Metal, Composite, Concrete, Others; By End-User:
Infrastructure, Building) - Global Industry Analysis, Size, Share, Growth, Trends, Regional
Outlook, and Forecast 2023-2032
The global 3d printing construction market size was reached at USD 3.42 billion in 2022
and it is projected to hit around USD 519.49 billion by 2032, poised to grow at a CAGR of
65.25% from 2023 to 2032.
Statistics
Key Takeaways:
 Asia-Pacific is predicted to hold a major market share of more than 41% in 2022.
 By construction method, the extrusion segment generated more than 63% of the revenue
share in 2022.
 By material type, the concrete segment dominated the market and captured more than
34%v of the revenue share in 2022.
 By End-user, the building segment dominated the market and generated more than 73%
of the revenue share in 2022.
 By End-user, the infrastructure segment is anticipated to have the fastest CAGR from
2023 to 2032.
3D Printing Construction Market Overview:
The 3D printing construction market is a new and rapidly expanding sector of the construction
industry that includes the use of 3D printing technology to build structures. With the help of a
printer, this technology deposits materials one at a time to build three-dimensional objects or
structures.
The market's expansion can be attributed to the significant global rise in green construction
projects and the increasing awareness of 3D printing technologies in construction companies.
The construction industry is adopting this technology due to several advantages, less waste,
faster construction, lower costs overall, fewer accidents on the job site, and the flexibility to
build unique architectural shapes. In the upcoming years, the financial support obtained by the
3D printing construction companies from the respective governments for advancing space-based
construction techniques is anticipated to open up new market expansion possibilities.
Additionally, throughout the projected period, the market expansion is predicted to be driven by
the expanding construction companies in emerging nations, an entire focus on eco-friendly
techniques, and the requirement for affordable housing solutions. Through programs like the
Innovation Expo, Innovation Attaché Network, National Icons Competition, National Science
Agenda, and innovative industrialization, governments of various nations and regional
authorities and organizations promote innovation in leading industries.
With the help of cutting-edge technologies like nanotechnology, additive manufacturing, and
robots, these initiatives hope to strengthen particular sectors. Additionally, several governments
are promoting innovation through improvements in public infrastructure and legal framework,
which may lead to a rise in implementation.
Thus, increasing government initiatives to support 3D printing will accelerate market expansion.
But it's anticipated that the high startup expenses involved with 3D printing construction will
restrain market expansion. In addition, the materials used in industrial and commercial 3D
printers are more costly than the materials used in conventional construction methods.
Additionally, factors like machine limitations, material restrictions, and worries about intellectual
property rights are anticipated to partially restrain market expansion. Another significant issue
limiting the market's potential for expansion is a shortage of skilled labour.
3D Printing Construction Market Scope:
Base Year 2022
Segments Covered By Construction Method, By Materia
North America, Europe, Asia-Pacific

Regions Covered
Africa
3D Printing Construction Market Dynamics:

Market Drivers
Increased adoption of 3D printing in the construction industry
3D printing is being widely used for constructing complex building structures us ing modeling
software programs. The implementation of 3D printing technology allows for high accuracy,
improved efficiency, reduced labor cost, and greater speed of construction. The growing adoption
of 3D printers for prototyping and designing in the construction sector, coupled with the
accuracy achieved in the end-product and reduced manufacturing expenditure, is driving the
market.
Additive manufacturing or 3D printing technologies have been evolving rapidly over the past
few years. Moreover, 3D printing has already been broadly adopted to create detailed models and
to effectively print specific real-size parts or objects of models that are difficult to produce using
conventional methods. The usage of 3D printing is exponentially increasing in the construction
industry. It can be used to improve the accuracy of a structure by a high-resolution subtractive
process, which removes material from an oversized printed item.
Benefits offered by 3D printing technology
Additive manufacturing or 3D printing produces 3D objects that are extremely useful.
Technological advancements have helped increase the adoption of 3D printing in the industrial
space. 3D printing has gained considerable traction in the construction industry, which is
anticipated to grow remarkably over the coming years.
The extensive adoption of the technology owing to its several advantages is playing a key role in
the significant rise in its adoption across the construction industry. Some of the key benefits
offered by the technology are:
Affordability: Traditional methods of prototyping such as injection molding and production runs
are comparatively expensive and increase the pre-production spending budget. In comparison,
3D printing lends better and more affordable alternatives to produce parts & tools by using
additive manufacturing at a lower rate as compared to traditional ways.
Risk Mitigation: Instead of investing in a costlier molding tool while developing a project, one
can initially opt for a 3D-printed test prototype. The process benefits by helping redesign the
product or object or modify the existing model. It is always advantageous and beneficial to
develop a production- ready prototype that offers confidence before making a large investment.
Rapid Production: Traditional prototyping includes time-consuming processes such as
machining, tooling, and molding. Additionally, it involves individuals, laborers, and purchasing
of the necessary equipment, which adds to core expenditures such as labor wages and equipment
spending. Moreover, the probability of the initial prototypes being the final ones is low, which
necessitates the redesigning of more prototypes. All these steps can be skipped as 3D printing
enables effective and accurate prototyping within a few hours.
Material Diversity: Additive manufacturing is compatible with a broad range of materials such
as glass, ceramics, metals, paper, biomaterials, and plastics.
Eco-friendly: The environmental effects of industrialization are one of the key factors to be
considered by industries. 3D printing is energy-efficient and generates less wastage. The amount
of junk and waste materials created is considerably less compared to other industrial processes of
manufacturing, which often denotes a lower environmental impact.
Government initiatives and increased investment in R&D activities
Governments across the globe support companies and industries that develop innovative
products through tax benefits, innovational grants, and credits. For instance, European authorities
offer several innovation grants. Moreover, new products help companies gain access to new
markets worldwide, eventually boosting economic growth and generating employment
opportunities. Thus, the government constantly emphasizes innovative technologies and provides
financial aids, support, and motivates the enterprises adopting innovation.
Governments are also encouraging innovation through developments across public infrastructure
and legislation, which can facilitate the increased adoption of 3D printing. Furthermore, service
providers are focusing on training employees to enhance their technical expertise in the
operation, management, and maintenance of specialized facilities.
Emerging countries such as India, Brazil, China, and Mexico are currently undergoing a rapid
transition to a consumer-led economy. Advancements in technology have enabled service
providers to penetrate emerging markets with innovative solutions. As such, initiatives and
additional focus on R&D are expected to drive the market over the forecast period.
Market Challenges
High capital investment
One of the major concerns hindering the adoption and implementation of 3D printing in the
construction sector is the need for high initial investment to purchase materials and equipment.
Moreover, the high cost of industrial 3D printers makes 3D printing expensive in the initial
stages. Furthermore, materials used in commercial and industrial printers are expensive in
comparison to those used in traditional construction processes.
Factors such as material constraints, limitations of the machinery, and concerns relevant to
intellectual property also hinder market growth opportunities to an extent. The lack of skilled
labor is also a key factor challenging the growth prospects of the market. The need to provide
thorough training to employees for making the most of expensive 3D printing machines leads to
additional expenditure on services from professional and specialized suppliers and service
providers. Although the adoption of 3D printing has been increasing at a promising pace in
recent years, the failure of manufacturers in exploring the vast scope of opportunities offered by
3D printing technology could also hinder the market growth. This challenge could be addressed
by effective marketing and training programs aimed at increasing awareness about the
capabilities and benefits of the technology.
The 3D printing ecosystem is comprised of various technologies for printing objects. These
technologies are highly capital intensive and demand high investment for setting up the
necessary equipment. Moreover, the high cost and low availability of the materials required to
carry out the printing process could deter consumers in developing economies from switching to
the technology. Availability of raw materials could be a major concern, especially as import
duties could add to the already high cost of raw materials in emerging countries.
Nevertheless, material prices could be curbed and regulated by undertaking the engineering and
production of these materials and equipment locally. Costs can also reduce if the materials are
available within reach; exclusion of import duties and related expenditures, as well as
complications, could also prove considerably helpful in overcoming these challenges in new and
emerging markets.
Market Opportunity
Increase in new construction projects globally
A notable rise in the number of residential and commercial construction projects globally is
expected to favor the overall demand for 3D printing technology in the construction industry.
Factors such as rapid growth in urbanization and growing investments in renewable energy
infrastructure are expected to lead to an increase in new construction projects across the globe.
Moreover, the construction industry is witnessing increased spending.
While the COVID-19 pandemic is expected to lower the spending to some extent, factors such as
an increase in demand for new homes and low interest rates are expected to help the construction
sector make a quick rebound in terms of projects and spending over the forecast period.
According to GlobalData, a consulting and data analytics company, the construction of mixed-
use establishments is booming across many U.S. states. Moreover, changing demands from
homebuyers and consumers are further expected to drive the construction of various projects in
the country.
The advent of 3D printing in the construction industry has come at a time when the construction
industry is aggressively looking for solutions to address a host of problems. Architects and civil
engineers are largely engaged in negotiating the geometric limitations set forth by the casting
process. Moreover, drawbacks of manufacturing formworks on job sites, hurdles in transporting
materials from one location to the other, and mounting work safety issues are some of the key
issues that 3D printing technology could potentially provide answers to in the construction
industry.
Significant advancements in 3D printing have led to opportunities for vendors in the 3D printing
construction market as 3D-printed materials are being widely used to build houses. Moreover,
the market is anticipated to gain traction over the forecast period due to a range of benefits 3D
printing offers, including improvements in design forms, faster construction, and reduced
material costs. These factors, coupled with an increase in construction projects across the globe,
are expected to drive the 3D printing construction market over the forecast period.
COVID-19 Impact:
The COVID-19 pandemic has affected the 3D printing construction market in both negative and
positive ways. The following are a few effects:
 Increased demand for 3D printed medical equipment: The COVID-19 pandemic has
increased the demand for medical supplies like face masks and ventilators. To quickly
maximize revenue, these items were produced in large quantities using 3D printing
technology.
 The slowdown in construction projects: Due to labour shortages, supply chain
disruptions, and decreased demand, the pandemic has caused a slowdown in construction
projects. As businesses concentrate on maintaining their current projects, this has
impacted the adoption of 3D printing construction technology.
 Increased interest in automation: The pandemic has brought to light the need for
automation in the building sector to lessen the need for manual labour and lower the risk
of virus transmission. Construction technology that uses 3D printing may solve this issue
because it uses fewer workers and can be operated remotely.
 Investment in research and development: As businesses work to develop more cutting-
edge and effective technologies to fulfil the demand for quicker and more sustainable
construction methods, the pandemic has ignited investment in research and development
in the 3D printing construction market.
Furthermore, there have been both positive and negative effects of the COVID-19 pandemic on
the 3D printing construction market. While the pandemic has slowed construction projects, it has
also boosted interest in research and development in the field and increased demand for 3D-
printed medical equipment.
Construction Method Insights
The global market has been divided into powder bonding, extrusion, and other categories based
on construction methods. The extrusion method held the largest revenue share of more than
63% in 2022, dominating the market. The segment is anticipated to grow at the highest CAGR
and maintain its top spot for the forecast duration. One of the additive manufacturing processes
used for modelling, prototyping, and production applications is extrusion 3D printing, also
referred to as fused deposition modelling. On-site construction typically employs the extrusion-
based technique.
It permits using conventional building supplies like concrete, clay, geopolymer, cement, and
plaster. Throughout the forecast period, it is also anticipated that the powder bonding segment
will grow significantly. Construction companies use powder bonding 3D printing technology
more frequently to build complex formworks, fuelling the segment's expansion.
This technique is highly sought after because it can produce complex formwork more quickly,
simply, and accurately. Compared to conventional techniques for creating formworks, this
method also takes less time and labour to complete.
Material Type Insights
More than 34% of market revenue in 2022 came from the concrete material type segment,
which dominated the market. Due to its potential to decrease cost, time, and labour while raising
productivity, 3D concrete printing is becoming a more and more popular alternative to traditional
concrete construction. Conventional concrete formwork needs highly skilled workers, and as a
result, the cost of the process can account for up to 60% of the total cost of the building.
However, it is possible to produce organic geometry and double-curved surfaces, among others,
at a fraction of the price by using 3D-printed concrete formworks.
Construction companies are concentrating on creating 3D-printed concrete formwork because of
these advantages. Over the forecast period, the metal segment is also anticipated to experience
significant growth. Through carefully controlled heating and cooling, 3D printing metal provides
opportunities to produce internal stiffening, openings, functionally graded elements and non-
prismatic sections, among others. Designing facade nodes, as well as other connections, is the
main application for metal 3D printing in the construction industry. Bridges are also being built
using metal 3D printing.
End-User Insights
The building segment led the market by accounting for 73% of global revenue in
2022. Construction in the residential, commercial, and industrial sectors is included in the
building segment. To build homes using 3D printing technology, numerous construction
companies are forming partnerships with 3D printer suppliers.
Over the forecast period, the infrastructure segment is anticipated to have the fastest
CAGR. This market's growth is driven by the expanding use of 3D printing technology to build
infrastructures, such as furniture and bridges, using materials like plastic, metals, and
composites. The segment's growth is anticipated to be fueled by numerous initiatives launched
by essential global companies to construct 3D-printed bridges.
Regional Insights:
The market for 3D printing in construction is still in its earliest stages, and regional differences in
adoption exist. The market is divided into Europe, North America, Latin America, Asia-Pacific,
and the Middle East & Africa based on geography. Asia-Pacific is anticipated to hold the
largest market share for more than 41% in 2022. Expanding new construction and rising
infrastructure spending explains the region's significant market share.
Over the forecast period, it is anticipated that the technology will experience substantial growth
as the area establishes itself as a central hub for manufacturing. Popular nations like Japan and
China have the potential to present numerous opportunities for cutting-edge and established
technologies, including 3D printing in construction.
 November 2022 - A Joint Venture (JV) was created by COBOD International A/S and PT
Modula Sustainable development Indonesia, a division of Brothers Tbk and PT Bakrie,
with the express purpose of growing the 3D construction printing industry in Indonesia.
 March 2022 - For manufacturing forged flanges and fittings for the gas, oil, and energy
industries in Japan, Shimoda Iron Works Co., Ltd., companies that have contributed
fittings and forgings in that country, chose MX3D's Wire Arc Advanced producing
technology.
3D Printing Construction Market Companies:
 Yingchuang Building Technique (Shanghai) Co.Ltd.(Winsun)
 MX3D
 COBOD International A/S
 ICON Technology, Inc.
 Sika AG
 XtreeE
 WASP S.r.I
 Apis Cor
 CyBe Construction
 Contour Crafting Corp.
By Construction Method
 Powder Bonding
 Extrusion
 Others
By Material Type
 Metal
 Composite
 Concrete
 Others
By End-User
 Infrastructure
 Building
By Geography
 North America
 Europe
 Asia-Pacific
 Latin America
What is the 3D printing construction market size?
The global 3D printing construction market size was accounted at USD 3.42 billion in 2022 and
it is expected to reach around USD 519.49 billion by 2032.
Construction Chemicals Market (By Type: Concrete Admixture, Surface Treatment,
Repair and Rehabilitation, Protective Coatings, Industrial Flooring, Waterproofing,
Adhesives, Sealantsm Grout and Anchor, Cement Grinding Aids; By Application:
Residential, Non-Residential) - Global Industry Analysis, Size, Share, Growth, Trends,
Regional Outlook, and Forecast 2023-2032
The global construction chemicals market size was exhibited at USD 34 billion in 2022 and is
projected to be worth around USD 83.11 billion by 2032 with a registered CAGR of 9.4%
during the forecast period from 2023 to 2032.
Statistics
Key Takeaways
 In 2022, By type, the concrete admixtures segment is expected to have the largest market
share.
 By application, the non-residential segment is expected to have the largest market share
in 2022.
 The Asia-Pacific has accounted for the majority of revenue share in 2022.
Construction chemicals are chemical substances that are mixed with cement, concrete, or other
building materials during construction to hold them all together. The project will be more
sustainable, and the building materials will be of higher quality. Chemical compounds called
construction chemicals are utilized in construction projects. They are primarily employed to
speed up the procedure and provide the buildings with greater sustainability and strength.
Construction chemicals are used in various building materials to improve workability, and
performance, provide functionality, and preserve the fundamental or bespoke aspects of a
structure during construction. The most important component of any chemical enterprise is these
compounds. The environments of the entire construction sector have changed as a result of
construction chemicals. Their use has increased building material quality, and as a result, they are
widely used in construction projects to provide sustainability.
Cities all throughout the world are adopting programs aimed at enhancing infrastructure. More
than two-thirds of the world's population is expected to reside in urban regions by 2050. The
majority of these rapid increases would be seen in underdeveloped nations. In addition, areas like
Africa and Asia are predicted to have the quickest rates of urban growth because they are still
relatively less urbanized than other areas. By 2050, it is anticipated that Africa's urban population
would increase from 40% to 56%, while Asia's urban population will increase from
approximately 48% to 64%.
Growth Factors
The demand for premix admixtures before they are employed in construction is increasing,
which is driving growth in the building chemicals sector. Additionally, the diminished
infrastructure durability brought on by greater rainstorms and wetted winters has led to an
increase in the demand for high-quality building chemicals.
 The growing demand for construction.
 Increase in disposable income.
Construction Chemicals Market Scope

Base Year 2022
 By Type
Segments Covered
 By Application
 North America
 Europe
Regions Covered  Asia-Pacific
 Latin America
 Middle East & Africa
Construction Chemicals Market Dynamics

Key Market Drivers
 The building industry's shifting dynamics - The expansion of the new construction and
repair & rehabilitation sectors in developing economies is predicted to be the main driver
of market growth for construction chemicals. The need for residential and non-residential
structures will rise as a result of the rapid population expansion in China, India, and
South Korea, which will boost industry growth. The need for various construction
chemicals, such as adhesives, concrete admixtures, and cement additives, has increased
as a result of this need and the rise in cement consumption. It is projected that the launch
of enhanced product offerings would fuel market expansion during the projection period.
Among the products are polymer-based grouts and mortars, specialty cement additives,
and specialty cement additives. The technological edge that building chemicals provide
improves a structure's performance and durability while reducing corrosion. The desire to
prevent corrosion also drives the demand for building chemicals. Chemicals are used for
this, including flooring, surface coatings, corrosion inhibitors, concrete admixtures, repair
mortars, and grouts. The world market for construction chemicals is being driven by the
constantly rising demand for public, commercial, and residential structures as well as the
technologically sophisticated construction sector. The industry is also being driven by
demand for new structures such as dams, highways, bridges, and tunnels to improve the
nation's infrastructure. Construction chemical sales will likely increase as a result of this
trend continuing in the years to come.
 Rapid urbanization - The construction chemicals market is being swiftly throttled as a
result of this overall growth in the construction sector, which is required to keep up with
the ongoing rate of urbanization. The market for construction chemicals will continue to
rise at a rapid rate due to rising knowledge of the benefits of employing these substances,
which essentially enhance the features of construction such as compressive durability,
strength, and resilience to unfavorable working circumstances. The rate at which middle-
class residential housing is increasing is also anticipated to support market expansion.
Many emerging markets are doing so as a result of an increase in migration to rapidly
urbanizing cities. Market demand will be stimulated overall by a rise in per capita
disposable income and a greater standard of living. More residential and non-residential
buildings will be constructed to accommodate the escalating demand brought on by
urbanization. There are structures like movie theatres, retail centers, hospitals, and
restaurants in addition to residential ones. The market's growth will be accelerated as a
result.
Key Market Challenges
 High cost of construction chemicals - According to estimates, the market for
construction chemicals will suffer from reasons including the erratic cost of energy and
raw materials as well as the fluctuating economy. This aspect would therefore hinder the
market's rate of expansion for building chemicals. Additionally, it is anticipated that the
market expansion will be hampered by the uncertainty around the potential change in
governmental rules and regulations, which extends the allotted time for project
completion.
Key Market Opportunities
 High investments - The market participants would profit from the government's
increased focus on eco-friendly chemicals and green building criteria throughout the
anticipated period of 2023 to 2032. It is also anticipated that major investments made by
well-known market participants in silicate binder systems and eco-binders will aid in the
building chemicals sector's sustained growth.
Type Insights
On the basis of type, the concrete admixtures segment is expected to have the largest market
share in 2022. In construction, cement is frequently employed as a binding agent. Concrete is
made by mixing cement in precisely measured amounts with sand, water, and crushed rock. The
characteristics of concrete are then enhanced by the addition of concrete admixtures. They offer
advantages including a low cement-water ratio, accelerated setting time, reduced segregation,
and increased permeability. The rising utilization of concrete admixtures, which is driving the
expansion of the construction chemicals market, is a result of the expanding building industries
in China, India, the United Kingdom, and Germany.
Chemicals used in waterproofing are intended to prevent water ingress. As a maintenance and
preventative waterproofing element, waterproofing chemicals are added to concrete during the
construction phase. The reconstruction of the damaged structural components is known as repair
and rehabilitation. This substance consists of rust removers, anti-corrosion treatments, and
epoxy-based repair mortars.
On the basis of application, the non-residential segment is expected to have the largest market
share in 2022. The expansion of infrastructure development resulted in a predominance in the
non-residential sector. The demand for highways, tunnels, dams, and bridges is hastening market
expansion. The demand for more expensive, higher-quality public buildings is also being fueled
by a high population rate and growing disposable economies, which is boosting the global
market for construction chemicals.
The residential market is incredibly fragmented, and rising urbanization has led a significant
portion of consumers to move into metropolitan areas. This market's expansion is anticipated to
be fueled by shifting lifestyles, fast urbanization, rising living standards, and a rising desire for
attractive residential constructions.
Regional Insights
On the basis of geography, Asia-Pacific accounted for the majority of revenue share in 2022. Due
to the region's rapid growth in building and government incentives to support the infrastructure
sector, Asia-Pacific currently holds a monopoly on the market for construction chemicals.
Additionally, the region's market growth has been helped by a thriving residential sector brought
on by the region's expanding middle class. Due to the increased demand for luxury homes, the
expansion of construction projects, and the best acceptance of product development in the
construction sector, particularly in Asian nations like India, China, and Southeast Asia, the region
has experienced significant growth. The demand for building chemicals is ultimately fueled by
the fact that Asian nations like China and India have one of the greatest rates of urbanization in
the entire world.
On the other hand, North America is anticipated to experience profitable growth from 2023 to
2032 as a result of the region's rising economy and strong market fundamentals for commercial
real estate projects. The market for construction chemicals in this area may also grow as a result
of the rising population and upcoming development projects.
Construction Chemicals Market Companies
 BASF SE
 GCP Applied Technologies Inc.
 MUHU (China) Construction Materials Co., Ltd.,
 Holcim
 M&I Materials Limited
 RPM International
 Sika India Pvt. Ltd.,
 Fosroc Inc.,
 Dow
 Arkem S.A.
 Ashland Inc (U.S.), Mapei S.p.A
 CHRYSO GROUP
 GCP Applied Technologies Inc.
 Pidilite Industries Ltd.,
 Dupont
 SOLVAY
 W. R. Grace & Co.-Conn.
 Setral Chemie GmbH
By Type
 Concrete Admixture
 Surface Treatment
 Repair and Rehabilitation
 Protective Coatings
 Industrial Flooring
 Waterproofing, Adhesives
 Sealants
 Grout and Anchor
 Cement Grinding Aids
By Application
 Residential
 Non-Residential
By Geography
 North America
 Europe
 Asia-Pacific
 Latin America
 Middle East & Africa (MEA)
What is the construction chemicals market size?
The global construction chemicals market size was accounted at USD 34 billion in 2022 and it is
expected to reach around USD 83.11 billion by 2032.
Data Center Construction Market (By IT Infrastructure: Networking Equipment, Servers,

Storage; By Power Distribution and Cooling Infrastructure: Power Distribution, Cooling;
By Tier Type: Tier 1, Tier 2, Tier 3; By End Use: IT & Telecom, BFSI, Government &
Defense, Healthcare, Energy, Others; By Size of Data Center: Small and Medium-Scale
Data Center, Large-scale Data Center) - Global Industry Analysis, Size, Share, Growth,
Trends, Regional Outlook, and Forecast 2023 – 2032
The global data center construction market size was valued at US$ 230 billion in 2022 and
is expected to hit US$ 243.80 billion by 2032 with a CAGR of 6.50% from 2023 to 2032.
Statistics
Data Center Construction Market in U.S. 2023 To 2032
The U.S. data center construction market size reached US$ 64 billion in 2022 and is predicted to
touch US$ 117.34 billion by 2032, growing at a CAGR of 6.30% from 2023 to 2032.
North America dominated the market in 2022 with revenue share of 45%. The U.S. dominated
the data center construction market in North America region. The factors such as growing
number of investments in technological sectors as well as technological developments are
driving the growth of data center construction market in North America region.
Asia-Pacific is expected to develop at the fastest rate during the forecast period. China and India
dominate the data center construction market in Asia-Pacific region. The growth of data center
construction market in Asia-Pacific region is being driven by growing government initiatives for
deployment of cloud-based platforms for storing data on a large scale.
Growth Factors
The data center is a place where huge amount of data is stored with the help of various kind of
servers, computer systems, and network systems. The construction of data center is not an easy
task. It requires location and resources. This means the data center construction is quite
expensive in nature. The data centers are constructed for various sectors and industries such as IT
and telecom, BFSI, energy, and healthcare.
The growth of global data center construction market is being driven by the expansion of
information technology sector. Various advanced and innovative technologies are used for the
construction of data centers. Those technologies are internet of things, big data analytics, and
artificial intelligence. This factor is propelling the growth of global data center construction
market over the forecast period.
In addition, growing environmental concerns regarding greenhouse gases emissions and carbon
emissions is paving new way for the growth of global data center construction market. This has
increased the demand and need for the construction of green data centers on a large scale. The
green data centers do not emit any type of toxic gases in the environment. This factor is boosting
the growth and development of global data center construction market.
Another factor driving the growth and expansion of worldwide data center construction market is
growing government initiatives. Even government sectors also need data centers to collect and
store data and information on a large scale. Therefore, government are heavily investing in the
construction of data centers. This factor is supporting the growth of global data center
On the other hand, the factors such as concerns regarding data privacy and security and high cost
of construction of data centers are restricting the expansion of global data center construction
market. The data and information stored in data center is very crucial and confidential in nature.
Once the data is hacked, it takes time to restore. This factor is hindering the data center
construction market growth.
The market for data center construction is highly fragmented with multiple significant
competitors. Many organizations are expanding their market reach as a result of technical
improvements and product breakthroughs by gaining new contracts and tapping new markets that
contribute to fierce competition.
Report Scope of the Data Center Construction Market

North America Market Share in 2022 45%
Cooling Segment Hit The Revenue Share in 2022 60%
Base Year 2022
IT Infrastructure, Power Distribution an

Segments Covered
Type, End Use, Size of Data Center, Ge
Page Southerland Page, Syska Henness

Companies Mentioned Group, Turner Construction Company,
Construction, Arup Group, Corgan Asso
IT Infrastructure Insights
The server segment accounted the largest revenue share 53% in 2022. The growth of the segment
is being driven by the adoption of advanced technologies such as artificial intelligence and
internet of things. In addition, government initiatives for deployment of servers in hyperscale
data center are boosting the demand for servers.
The networking equipment segment is projected to witness strong growth during the forecast
period. The increased need and demand for high computational capacity and memory space to
support big data analytics and artificial intelligence driven applications fueled the networking
equipment demand.
Power Distribution and Cooling Infrastructure Insights
The cooling segment hit the revenue share 60% in 2022. The data centers need cooling systems
for maintaining temperatures and humidity levels. It has been observed that data centers get
heated easily at utmost temperature. Therefore, cooling systems have become essential part for
data centers.
The power distribution segment is expected to witness remarkable growth over the forecast
period. Managers of data centers are seeking for ways to improve energy efficiency while still
providing a highly flexible information technology environment that can support service-oriented
designs. Despite the fact that software and storage are all becoming more adaptive, nothing in the
data center can adjust as quickly as the power distribution networks.
End Use Insights
The IT and telecom segment accounted revenue share 40%. The growth of data center
construction market in IT and telecom sector is attributed to the growing number of smartphone
and internet users. In addition, the adoption of 5G network technology is also gaining traction in
IT and telecom sector. All of these factors are driving demand for data centers.
The BFSI segment is expected to hit strong growth from 2023 to 2032. Banking, Financial
Service, and Insurance (BFSI) collects and stores huge amount of data related to clients and
customers. The storage of data is done with the help of data centers. Several banks and financial
institutes are using data centers for storage of information and data. Thus, these factors are
boosting the growth of global data center construction market.
Tier Type Insights
The tier 3 segment accounted market share of around 52% in 2022. The growth of tier 3 segment
is attributed to the enhanced reliability among data centers. In addition, the growing demand for
high performance processing and expanded storage capacity is paving way for the growth of the
segment. Moreover, tier 3 standard is used across service and banking sectors.
The tier 2 segment is fastest growing segment of the data center construction market over the
forecast period. The tier 2 facilities help to provide power backup to the data centers. In addition,
tier 2 enhances cooling efficiency of systems. Due to all these benefits, the segment for tier 2 is
growing at a rapid pace.
Key Developments
 Arup was recognized in August 2020 for a sustainable summit that empowered suppliers
to create a sustainable supply chain. The awards also recognize the creation of a Carbon
Management Plan for the event, as well as collaboration with key suppliers to create a
sustainable supply chain. The company’s global revenues and profitability will improve
as a result of this award.
 NTT Ltd. declared the launch of Global Data Center Interconnect in June 2021,
acombined worldwide network material service that provides private and protected
connections between NTT’s worldwide data centers and major cloud service providers
through single physical port that supports multiple virtual network services.
Some of the prominent players in the global data center construction market include:
 Page Southerland Page
 Syska Hennessy Group
 Holder Construction Group
 Turner Construction Company
 Jones Engineering Group
 DPR Construction
 Arup Group
 Corgan Associates Inc.
 AECOM
 Gensler
(Note*: We offer report based on sub segments as well. Kindly, let us know if you are
interested)
By IT Infrastructure
 Networking Equipment
 Servers
 Storage
By Power Distribution and Cooling Infrastructure
 Power Distribution
 Cooling
By Tier Type
 Tier 1
 Tier 2
 Tier 3
By End Use
 IT & Telecom
 BFSI
 Government & Defense
 Healthcare
 Energy
 Others
By Size of Data Center
 Small and Medium-Scale Data Center
 Large-scale Data Center
By Geography
 North America
o U.S.
o Canada
 Europe
o U.K.
o Germany
o France
 Asia-Pacific
o China
o India
o Japan
o South Korea
o Malaysia
o Philippines
 Latin America
o Brazil
o Rest of Latin America

o GCC
o North Africa
o South Africa
o Rest of the Middle East & Africa

What is the current size of data center construction market?
The global data center construction market size was reached at US$ 230 billion in 2022 and it is
anticipated to rake around US$ 429.70 billion by 2032.
Construction Equipment Market (By Equipment Type: Earthmoving, Material Handling,

Concrete, Road Building, Civil Engineering, Crushing & Screening, and Others; By
Application: Commercial, Residential, and Industrial) - Global Industry Analysis, Size,
Share, Growth, Trends, Regional Outlook, and Forecast 2023-2032
The global construction equipment market size was valued at USD 188.42 billion in 2023 and is
projected to hit around USD 318.32 billion by 2032 with a CAGR of 6% from 2023 to 2032.
Statistics
Key Takeaways:
 Asia Pacific led the global market with the highest market share in 2022.
 Europe region is estimated to expand the fastest CAGR between 2023 and 2032.
 By Equipment Type, the earthmoving segment has held the largest market share of 52%
in 2022.
 By Equipment Type, the material handling segment is anticipated to grow at a remarkable
CAGR between 2023 and 2032.
 By Application, the residential segment captured the biggest revenue share in 2022.
 By Application, the industrial segment is expected to expand at the fastest CAGR over
the projected period.
Construction Equipment Market in the Asia Pacific 2023 To 2032
The Asia Pacific construction equipment market size was valued at USD 79.29 billion in
2023 and is expected to reach USD 136.24 billion by 2032, growing at a CAGR of 6.20%
from 2023 to 2032.
Based on region, Asia Pacific dominated the global construction equipment market in 2022, in
terms of revenue and is estimated to sustain its dominance during the forecast period. According
to the Asian Development Bank, Asia Pacific is the fastest urbanizing region in the globe. The
Asia Pacific region has witnessed an increase in urbanization by five-folds since 1970. The
increased government expenditure on the development of infrastructure in major economies like
India and China has had boosted the growth of the Asia Pacific construction equipment market.
In fact, according to the Asian Development Bank, India and China are the two most prominent
economies that augments the growth rate of the Asia region.
On the other hand, Europe is estimated to be the most opportunistic market during the forecast
period. Europe has shown a positive growth in the construction sector. The development of
various skyscrapers, industrial and commercial buildings, and residential units is expected to
foster the growth of the Europe construction equipment market. Further, the rising popularity of
advanced and latest technologies installed in the construction equipment is a prominent factor
that will drive the growth of the market in this region.
Growth Factors
The global construction equipment market is majorly driven by the factors such as rapid
urbanization, rapid industrialization, rising government investments in the development of
infrastructure, and expansion and growth activities of the real estate and construction companies
across the globe. The increased investments by the market players in the research and
developmental activities to develop new automated equipment to replace traditional construction
equipment is expected to drive the market growth in the upcoming future. The construction
equipment manufacturers are constantly engaged in securing the supply chains to improve
efficiency that will increase productivity of the construction industry. The global construction
equipment market is expected to be driven by the increasing government expenditure on various
infrastructural projects in Asia Pacific in the upcoming years. According to the Asian
Development Bank, Asia is rapidly being urbanized as compared to rest of the world. East Asia is
developing (Urbanizing) at a CAGR of 3.7%, followed by South-East Asia at 3.6%, South Asia
at 3.3%, and Central Asia at1.6%. The Pacific region is urbanizing at a CAGR of 2.9%.
Therefore, the increased urbanization of Asia Pacific region is a major factor that is expected to
drive the growth of the global construction equipment market in the upcoming future.
The adoption of smart automated construction equipment is another major factor boosting the
demand for the construction equipment across the globe. The automated smart construction
equipment are fuel-efficient, reduces labor cost, increase productivity, and reduces the overall
operational costs. The introduction of Internet of Things (IoT) and ICT is boosting the demand
for the latest advanced construction equipment. These cost saving benefits and advanced
technologies installed in the latest construction equipment is expected to drive the global
construction equipment market all over the globe. Further, the growth of the construction
equipment rental services industry is fostering the development of the construction equipment
market. The nations such as China and India, where the urbanization rate is highest is expected to
witness a significant demand for the construction equipment rental services during the forecast
period.
Construction Equipment Market Report Scope
Report Highlights Details
Growth Rate CAGR of 6% From 2023 to 2032
Fastest Growing Market Europe
Base Year 2022
Segments Covered Equipment, Application, Region
Caterpillar Inc., Komatsu, Hitachi Cons

Volvo Construction Equipment, Doosan
Companies Mentioned
Bamford Excavators Ltd., CNH Industr
Construction Equipment Co.
Equipment Type Insights

Based on equipment type, the earthmoving segment dominated the global construction
equipment market, accounting for a market share of over 52% in 2022, in terms of revenue and is
estimated to sustain its dominance during the forecast period. The earthmoving equipment
includes excavators, loaders, and others. The emphasis of government to support the transport by
investing heavily in the development of a strong and well-connected roads network has fostered
the growth of this segment. Further, the extensive need for digging at confined spaces during the
construction has led to the extensive use of excavators that significantly contributed towards the
growth of this segment. Moreover, the government regulations regarding the emissions and noise
is fostering the development of less noisy and eco-friendly excavators, which is expected to drive
the growth of this segment in the upcoming years.
On the other hand, the material handling segment is expected to witness a significant growth rate
during the forecast period. This is attributed to the rising demand for the machinery handling
equipment like cranes in developed economies owing to the construction of skyscrapers and
commercial buildings. Further, the government investments on building highways in developing
nations is expected to boost the demand for the material handling equipment during the forecast
period.
Based on application, the residential segment dominated the global construction equipment
market in 2022, in terms of revenue and is estimated to sustain its dominance during the forecast
period. This is attributed to the increased number of housing projects in the developed and
developing nations in the past years. Rising urbanization is a major factor that fueled the growth
of this segment.
On the other hand, the industrial segment is estimated to be the most opportunistic segment
during the forecast period. The rising government policies to attract Foreign Direct Investments
and rapid industrialization in the developing and underdeveloped economies is the major factor
that is expected to drive the growth of this segment in the forthcoming years.
Key Companies & Market Share Insights
The market is moderately fragmented with the presence of several local companies. These
market players are striving to gain higher market share by adopting strategies, such as
investments, partnerships, and acquisitions & mergers. Companies are also spending on the
development of improved products. Moreover, they are also focusing on maintaining competitive
pricing.
In November 2018, Caterpillar, Inc. launched the new Next Generation D6 dozer that has
improved fuel efficiency.
In December 2019, Hitachi Construction announced the product development of a battery
operated mini-excavator.
In January 2020, Volvo Construction Equipment launched a new excavator with enhanced
productivity, improved fuel efficiency, and installed with boom down motion that can reduce the
operational cost.
The various developmental strategies like new product launches with latest and innovative
features fosters market growth and offers lucrative growth opportunities to the market players.
Some of the prominent players in the global construction equipment market include:
 Caterpillar Inc.
 Komatsu
 Hitachi Construction Machinery
 Liebherr
 Volvo Construction Equipment
 Doosan Infracore Co. Ltd.
 J.C. Bamford Excavators Ltd.
 CNH Industrial NV
 SANY Group
 Hyundai Construction Equipment Co.
By Equipment Type
 Earthmoving
 Material Handling
 Concrete
 Road Building
 Civil Engineering
 Crushing & Screening
 Others
By Application
 Commercial
 Residential
 Industrial
By Geography
 North America
o U.S.
o Canada
 Europe
o U.K.
o Germany
o France
 Asia Pacific
o China
o India
o Japan
o South Korea
 Rest of the World

How much is the construction equipment market worth?
The global construction equipment market size reached USD 188.42 billion in 2023 and is
projected to be worth around USD 318.32 billion by 2032.
Building and Construction Plastic Market (By Product: Polyvinyl Chloride, Polystyrene,
Polyethylene, Polyurethanes, Others; By Application: Roofing, Insulation, Pipes & Ducts,
Wall Coverings, Windows, Others) - Global Industry Analysis, Size, Share, Growth,
Trends, Regional Outlook, and Forecast 2023 - 2032
The global building and construction plastic market size reached USD 112.4 billion in 2022 and
is expected to hit USD 214 billion by 2032, poised to grow at a compound annual growth
rate (CAGR) of 7.2% from 2023 to 2032.
Statistics
Growth Factors
Growth of building and construction plastic market is mainly driven by upsurge in residential
and non-residential construction activities along with theincrease in demand for plastics owing to
low cost. In addition to this, a lucrative physical properties such as high strength, easy to
transport, and light in weight is expected to boost growth in demand for the building and
construction plastic. On the other hand, significant growth in population coupled with an
increased has led to rising in building construction; thus, significantly boosting growth of the
market. Furthermore, a number of government initiatives to enhance building structures is
projected to create lucrative growth opportunities for the market in upcoming years.
However, China’s slowing economy along with the prohibition of PVC products in green
building may hamper growth of the market. On the contrary, there is rising trend of usage of
recycled plastics in construction. This factor is anticipated to be opportunistic for growth of the
market during forecast period.
COVID-19 Impact
The COVID-19 pandemic has affected every segment of society, including individuals and
businesses. The pandemic had considerably affected the construction industry, including ongoing
building projects. For instance, construction projects are being delayed or even construction sites
in several countries have shut down. Such disruption has been reflected in financial indexes; for
instance, since February 2020, the public engineering, construction, and building materials
(ECB) companies witnessed slight dropped in their revenues.
Moreover, due to the global recession, construction firms are faced with supply chain disruption,
cancelled projects, and other short-term issues. For instance, approximately 40% of the U.S.
construction firms reported layoffs by the end of April. Hence, disruption in construction
industry has hampered growth of the global building and construction plastic market during the
COVID-19 pandemic.
Building and Construction Plastic Market Scope
Market Size by 2032 USD 214 Billion
Growth Rate From 2023 to 2032 CAGR of 7.2%
Base year 2022
Fastest Growing Market Asia Pacific
Segments Covered Product Type, Application Type, Regional Outlook
By Product  Polyvinyl Chloride

 Polystyrene
 Polyethylene
 Polyurethanes
 Others
BASF SE, SABIC, DowDuPont Inc., Koninklijke DS

N.V, LG Chem Ltd., Chevron Phillips Chemical Com
Companies Mentioned LLC, LyondellBasell Industries Holdings B.V., INEO
Group Holdings S.A., LanxessAktiengesellschaft, So
S.A.
Product Insights
By Product Type, in 2022, Polyvinyl Chloride (PVC) dominated the market with around 42.3%
share in terms of revenue of the total market. PVC has properties such aslight in weight and the
ability to be molded and assembled in a variety of shapes. This is a versatile thermoplastic
material with wide ranging applications in the manufacturing of majority consumer goods. In
building and construction sector, it is mainly being use for fabrication of both rigid and flexible
products. Its extensive range of applications includes pipes, irrigation, electrical conduits, tubes
& fittings for water distribution, sewers, door frames & windows, gutters & downspouts, fencing
& decking, roofing, and conveyor belts used for chemical processing, food processing, and wall
& floor covering.
However, Polyurethane is anticipated to witness highest growth rate during the forecast period
due to its quality to mold into any of the unusual shape.
By Application Type, in 2022, pipes & ducts dominated the market with around 37.23% share in
terms of revenue of the total market.Plastic pipes systems are mainly used within the building as
well as on the outer premises applications such as water service, plumbing, fire protection, snow
melting, hydronic heating & cooling, and geothermal piping systems. The aforementioned
applications primarily drives growth of this segment.
However, insulation segment is anticipated to witness highest growth rate during the forecast
period. Rising usage of plastic composites as an insulation among the walls & roofs boosts
growth of this segment. The insulation offers benefits such as sound deadening, fire protection,
and thermal insulation.
Regional Insights
North America dominated the building and construction plastic market and accounted for the
largest revenue share in 2022. Growth of this region is mainly operated by rapid expansion of
construction sector across the countries such as Canada and the U.S. In addition to this, ongoing
trend of renovation of old buildings is projected to encourage market growth in these
regions. Moreover, the number of initiatives undertaken by Plastics Industry Association and
National Association of Plastic Industries (ANIPAC), the industry trade group support growth
and development of plastics along with its end applications. Furthermore, surging demand for
commercial building and government investments across the public infrastructure projected to
boost the demand for the building and construction plastic in upcoming years.
The other hand, Asia Pacific is projected to witness the fastest growth rate throughout the
forecast period. Over the past several years, growing population andrapid urbanization in the
countries such as China and India has led to rise in infrastructure spending. Moreover, China is
the major producer of polyurethanes and thermoplastics plastic materials. Hence, it accounted for
the significant market share in Asia-Pacific building and construction plastic market.
development of improved quality building and construction plastic products. Moreover, they are
also focusing on maintaining competitive pricing.
For instance, in December 2019, BASF launched MasterTop XTC, the next generation of high-
performance flooring systems, for the construction industry. Formulated with the advanced
XolutecTM technology, MasterTop XTC provides an easy-to-clean floor surface with
exceptional resistance to impact and abrasion.
Building and Construction Plastic Market Companies
 BASF SE
 DowDuPont Inc.
 Koninklijke DSM N.V
 Chevron Phillips Chemical Company, LLC
 LG Chem Ltd.
 LyondellBasell Industries Holdings B.V.
 INEOS Group Holdings S.A.
 LanxessAktiengesellschaft
 SABIC
 Solvay S.A.
By Product
 Polyvinyl Chloride
 Polystyrene
 Polyethylene
 Polyurethanes
 Others
By Application
 Roofing
o Polyvinyl Chloride
o Polyurethanes
o Others
 Insulation
o Polystyrene
o Polyurethanes
o Others
 Pipes & Ducts

o Polystyrene
o Polyethylene
o Others
 Wall Coverings
o Others
 Windows
o Polyurethanes
o Others
 Others
o Polystyrene
o Polyethylene
o Polyurethanes
o Others
By Geography
 North America
o U.S.
o Canada
 Europe
o U.K.
o Germany
o France
 Asia Pacific
o China
o India
o Japan
o South Korea

What is building and construction plastic market size?
According to Precedence Research, the global building and construction plastic market size was
valued at US$ 112.4 billion in 2022 and is predicted to reach US$ 214 billion by 2032.
Blockchain IoT Market (By Component: Services, Hardware, and Software; By

Application: Data Security, Asset Management and Tracking, Smart Contracts, Data
Sharing, and Others; By End-Use Industry: Retail, Transportation, Smart City,
Manufacturing, Construction, Consumer Electronics, Healthcare, and Others) - Global
Industry Analysis, Market Size, Share, Growth, Trends, Regional Outlook And Segment
Forecasts, 2023 - 2032
The global blockchain IoT market is expected to drive growth at a CAGR of 54% during
the estimated period and to reach USD 20,938.59 million by 2032 from USD 280 million in
2022.
Statistics
Key Takeaways
 North America led the global market in 2022.
 By Component, the software segment held the largest segment in 2022.
 By Application, the asset management and tracking segment is expected to hold the
dominating share of the market during the forecast period.
 By Application, the data security segment is expected to grow at a notable rate.
 By End-Use Industry, the transportation segment led the market with the largest market
share in 2022.
Blockchain IoT Market in the U.S. 2023-2032
The U.S. blockchain IoT market size was valued at USD 58.46 billion in 2022 and is estimated
to reach around USD 4,400.46 billion by 2032, growing at a CAGR of 54.10% from 2023 to
2032.
The detailed research report covers significant prospects and inclinations of blockchain IoT
products throughout different regions including Europe, North America, Asia-Pacific, Africa,
Middle East, and Latin America. By region, blockchain IoT market is led by North America due
to early application of latest technologies and availability of latest technology infrastructure.
Europe reported the second maximum share predominantly due to presence of key
companies.Asia-Pacific is also anticipated to witness the rapid growth rate, on account of
increasing investment by governments in the latest technologies.
Growth Factors
The growth of the blockchain IoT market is driven by the growing adoption of the Internet of
Things (IoT), rising focus on operational efficiency, and increasing requirements for IoT security.
Other factors accountable for market growth are:
 Streamlining of business processes
 Better transparency offered by blockchain technology
 Increasing adoption of blockchain smart contracts
 Growing implementation of blockchain technology in the healthcare sector
 Integration of the latest technologies and growing investment by governments
Major Trends in The Blockchain IoT Industry:
Numerous blockchain platforms concentrating on IoT are evolving as the business gets larger.
IOTA is one of the initial blockchain IoT platforms. It was intended explicitly for the Internet of
Things (IoT) and delivers a data transfer layer and transaction settlement for linked devices. The
Blockchain technology is the absent link to determine reliability, privacy, and scalability
apprehensions in the IoT (Internet of Things). Blockchain technologies can perhaps be the
tremendously effective resolution needed by the Internet of Things business. Blockchain
technology can be employed in tracking thousands of millions of connected equipment’s, allow
the processing of communications and synchronization between the devices. This distributed
approach would eradicate single points of disaster, creating an extra resilient network for devices
to operate on. The cryptographic procedures used by blockchain, can make consumer
information more private, thus secure and more dependable.
The establishments executing IoT solutions continue to encounter challenges recognizing
security know-hows and approaches adequate to mitigate unique intimidations to the Internet of
Things. Blockchain mechanism promises to perform a major part in addressing such challenges.
Numerous devices will gain advantage from the safety and other aspects offered by blockchain
facilities through APIs from upstream business nodes of systems or by specialized mediators.
Such upstream competences can be employed to safeguard IoT devices and interactions. The
Internet of Thingshas long remained associated with safety weaknesses and threats, and
professionals and establishments have started exploring the usage of blockchain to safeguarding
the IoT. Establishments like Trusted IoT Alliance and IOTA have commenced emphasis on IoT
security by means of the utilization of blockchain. IoT equipment’s can be constituted either to
make usage of public blockchain facilities or to interconnect with sequestered blockchain nodes
in the cloud through a secure API. Integrating blockchain expertise into the security outline of an
IoT organization allows IoT equipment’s to securely determine each other, encode machine-to-
machine communications using dispersed key administration techniques, and authenticate the
integrity and genuineness of software image apprises, in addition to policy updates. The use of
blockchain technology to deliver security to IoT network is expected to drive the demand for
blockchain IoT industry in the estimate timeframe.
COVID-19 Impact on Global Blockchain IoT Market
The COVID-19 disease has obstructed almost all industries, although the consequence has not
been the same. The pandemic and the following lockdown have made an adverse impact on
numerous industries and a substantial slowdown in technology expenditure is anticipated in
blockchain technology expansion as well. Earlier to the pandemic, numerous agencies
anticipated a significant venture in blockchain technology. In the present state of affairs, a
slowdown in expenditure is expected in near future. The Internet of Things will be essential to
the long-term retrieval plans of the post-COVID-19 economy internationally, yet certain facets of
the Internet of Things itself will be undesirably impacted in the near future. Although the current
disturbance due to the prevalent pandemic may pose challenges to the blockchain business in the
short time, it will also reveal new opportunities in the middle and longer-period.
Blockchain IoT Market Scope
Market Size in 2023 USD 280 Million
Market Size by 2032 USD 20,938.59 Million
Growth Rate from 2023 to 2032 CAGR of 54%
Base Year 2022
Segments Covered Component, Application, End-Use Industry
North America, Europe, Asia Pacific, Latin America,

Regional Scope
Middle East & Africa (MEA)
The Linux Foundation, KrypC, Microsoft, Amazon,

Companies Mentioned
Ethereum Foundation, Cisco Systems, IoTEX, IBM,
Significant Market Trends:

Software Segment Reported Foremost Market Stake in 2022
The software displayed a major share in the worldwide blockchain IoT market in 2022. Increased
focus on development of software’s for the implementation of blockchain IoT are the key reason
for highest market stake of software segment. The factors such as implementation in new sectors
are expected to retain the dominance of software in the near future. The hardware segment is
anticipated grow at the maximum CAGR through the forecast time-frame mainly due to high
anticipated demand.
Asset Management and Tracking Application Dominated the Market Revenue
Blockchain IoT has major application in the area of asset management and tracking. It is also
favorable in designing algorithms that can be used to better organize assets and track them.
Data security application will expand at highest CAGR during the forecast time-frame. Smart
contracts are acquiring an increasing acceptance in both private and public domains as they
permit peer-to-peer process on community blockchains and possess the potential to progress
efficacy and transparency in commercial collaborations. With the improvements in ï¬‚exibility,
legality, and security smart contracts are expected to be implemented by a larger customer base.
Transportation Will Dominate the Blockchain IoT Market Revenue By End-Users
The use of blockchain technology to reduce operational costs in the transportation industry is the
key reason for high market share. Smart City end-use industry will expand at highest CAGR
during the forecast time-frame.
Blockchain IoT Market Companies
The companies focusing on research and development are expected to lead the global blockchain
IoT market. Leading competitors contending in global blockchain IoT market are as follows:
 The Linux Foundation
 KrypC
 Microsoft
 Amazon
 Ethereum Foundation
 Cisco Systems
 IoTEX
 IBM
 Intel
In order to well recognize the present status of blockchain IoT, and policies implemented by the
foremost nations, Precedence Research projected the future progress of the blockchain IoT
market. This research report bids quantitative and qualitative insights on blockchain IoT market
and valuation of market size and progress trend for probable market segments.
Major Market Segments Covered:
By Component
 Services
 Hardware
 Software
By Application
 Data Security
 Asset Management and Tracking
 Smart Contracts
 Data Sharing
 Others
By End-Use Industry
 Retail
 Transportation
 Smart City
 Manufacturing
 Construction
 Consumer Electronics
 Healthcare
 Others
By Organization Size
 Large Enterprises
 SMEs
By Geography
 North America
o
 U.S.
 Canada
 Europe
o
 Germany
 France
 United Kingdom
 Rest of Europe
 Asia Pacific
o
 China
 Japan
 India
 Southeast Asia
 Rest of Asia Pacific
 Latin America
o
 Brazil
 Rest of Latin America
o
 GCC
 North Africa
 South Africa
 Rest of Middle East & Africa
What is the current size of the global blockchain IoT market?
The global blockchain IoT market is expected to reach over USD 20.938.59 million by 2032
from USD 280 million in 2022.
Anti-corrosion Coatings Market (By Type: Water-based, Solvent-based, Powder and

Others; By Material: Polyurethane, Epoxy, Acrylic, Alkyd, Zinc and Others; By End User:
Building & Construction, Oil & Gas, Marine, Aerospace and Defense, Automotive & Rail
and Others) - Global Market Size, Share, Trends Analysis, Segment Forecasts, Regional
Outlook 2023 - 2032
The global anti-corrosion coatings market size was accounted for USD 34.26 billion in 2023 and
is predicted to surpass around USD 54.10 billion by the end of 2032, representing impressive
CAGR of 5.21% during the forecast period 2023 to 2032. North America market has generated
the revenue share of over 38% in 2022.
Statistics
Key Takeaways
 North America led the global market with the largest market share in 2022.
 By Type, the solvent-based technology segment had the biggest market share in 2022.
 By End-User, the oil & gas segment has held the largest revenue share in 2022.
 By Material, the acrylic material segment has held the highest market share in 2022.
Anti-corrosion Coatings Market in the U.S. 2023 To 2032
The U.S. anti-corrosion coatings market size was valued at USD 9.05 billion in 2023 and is
expected to hit around USD 14.04 billion by 2032, rising at a CAGR of 5% from 2023 to 2032.
North America is Estimated to be the Largest Market for Anti-corrosion Coatings

The research report covers key inclinations and forecasts of anti-corrosion coatings products
across diverse top graphical regions such as North America, Asia-Pacific, Europe, Latin America,
and Middle East and Africa. In the past few years, the U.S. has exceeded both Saudi Arabia and
Russia as the world’s one of the leading producers of natural gas and oil. As the installation of
pipelines upsurges, so does the risk of corrosion that emphasizes the necessity for pipeline
protection. As per, National Association of Corrosion Engineers, global cost of corrosion was
around USD 2.5 trillion in 2016. If the industry endures its upward path, the influence of
corroded steel pipelines on the financial data is anticipated to increase.
Augmented investments in the marine, construction, and energy sectors in India and China are
responsible for changing industry tendencies, which is projected to stimulate the growth of anti-
corrosion coatings market. China is the largest user of anti-corrosion coatings across the world.
This is mainly due to the increasing energy demand and necessity of maintenance in the
transportation sector.
Anti-corrosion Coatings Market Overview
Anti-corrosion coatings are crucial tool for preventing challenges of rust across several
industries. This type of coating finds application under several areas including automobiles
tunnels, bridges, and protection of structures in few of the toughest environments. Anti-corrosion
coatings have become an inevitability for businesses to defend the enormous investments they
make in terms of property, money, and protection of workforces. These coatings are employed
extensively in sectors like oil and gas, marine, petrochemical, power generation, infrastructure,
and others.
Anti-corrosion Coatings Market Scope
Base Year 2022
Segments Covered By Type, By Material and ByEnd User
Akzo Nobel N.V., Axalta Coating Syste

Companies Mentioned
BASF SE, Ashland, Hempel A/S, Jotun
Crucial factors accountable for market growth are:

 Escalating requirement for thin-walled durable metallic components in the engineering of
lightweight products
 Development of oil and gas exploration operations in North America and Asia-pacific
 Power plants anticipated to deliver development outlook to high-performance anti-
corrosion coatings
Type Insights
Solvent-Based Technology Segment Recorded Prime Market Share in 2022
The solvent-based technology segment led the global anti-corrosion coatings market and
reported for above 47% share in terms of revenue in 2022. This high market stake is responsible
to the intensifying demand for manufacturing machines, industrial tanks, pipes, chemical storage
tanks, ballast tanks, gas ducts, smoke stacks and cooling towers. Furthermore, solvent-based
corrosion protection coating needs low drying time, displays humidity, enhanced temperature,
and abrasion resistance.
End-User Insights
Oil and Gas Application Sector Foretold to Emerge as Dominant Segment during Estimate
Period
Anti-corrosion coating finds usage in care homes, hospitals, and drop-in centers for the product
such as handles, floors, beds, ceiling paints and walls. Among all, oil & gas application segment
dominated the overall market and seized above 37% share of the total revenue in 2022. This high
market cut is credited to the high importance and widespread practice of corrosion protection
coating in this application segment. Further, the anti-corrosion coating reduces the risk of
microbes and expands surface finish and abrasion resistance.
Material Insights
Acrylic Material Segment is Projected to Govern the Anti-corrosion Coatings Market
Revenue
Out of different material segment covered in the report, acrylic material segment conquered the
market revenue with over 44% share in 2022. This high share is credited to outstanding
properties offered by these materials including resistance to oxidation and weathering. Acrylic
coatings are principally water-based, which bid comfort of handling and improved performance
in a extensive range of areas such as roof coating, wall coating, and less cost in comparison with
other materials
Anti-corrosion Coatings Market Players
Prominent market participants are emphasizing on tactics such as novel product launch, business
development, collaborations and acquisition to withstand the strong market rivalry. Leading
competitors contending in global anti-corrosion Coatings market are as follows:
 Akzo Nobel N.V.
 Axalta Coating Systems, LLC
 Kansai Paint Co., Ltd.
 BASF SE
 Ashland
 Hempel A/S
 Jotun
 PPG Industries, Inc.
 The Sherwin-Williams Company
In order to better recognize the current status of acceptance of Anti-corrosion Coatings, and
policies adopted by the foremost countries, Precedence Research predicted the future evolution
of the Anti-corrosion Coatings market. This research study bids qualitative and quantitative
insights on the Anti-corrosion Coatings market and an assessment of the market size and growth
trends for potential market segments.
Major Market Segments Covered:
By Type
 Water-based
 Solvent-based
 Powder
 Others
By End-User
 Oil & Gas
 Marine
 Aerospace and Defense
 Automotive & Rail
 Others
By Material
 Polyurethane
 Epoxy
 Acrylic
 Alkyd
 Zinc
 Others
By Geography
o North America
 U.S.
 Canada
o Europe
 Germany
 France
 United Kingdom
 Rest of Europe
o Asia Pacific
 China
 Japan
 India
 Southeast Asia
 Rest of Asia Pacific
o Latin America
 Brazil
 Rest of Latin America
o Middle East & Africa (MEA)
 GCC
 North Africa
 South Africa
 Rest of Middle East & Africa
What is the current size of the global anti-corrosion coatings market?
The global anti-corrosion coatings market was estimated at USD 34.26 billion in 2023 and is
expanding around USD 54.10 billion by 2032.
Stainless Steel Market (By Product: Long and Flat; By Grade: Duplex Series, 400 Series,
300 Series, 200 Series, and Others; By Application: Automotive & Transportation, Building
& Construction, Heavy Industry, Consumer Goods, and Others) - Global Market Size,
Trends Analysis, Segment Forecasts, Regional Outlook 2023 - 2032
The global stainless steel market was estimated at US$ 111.4 billion in 2022 and is predicted
to surpass around US$ 214.07 billion by 2032 and is poised to grow at a CAGR of 6.8%
Statistics
Key Takeaways
 Asia Pacific led the market with the biggest market share in 2022.
 By Product, the flat segment registered the maximum market share of 31% in 2022.
 By Product, the long segment is expected to grow at a notable CAGR of 6.8% during the
forecast period.
 By Application, the automotive & transportation segment is anticipated to grow at the
fastest rate during the forecast period.
Stainless Steel Market in the Asia Pacific 2023 To 2032
The Asia Pacific stainless steel market size was valued at USD 74.64 billion in 2022 and is
expected to reach USD 143.42 billion by 2032, growing at a CAGR of 6.80% from 2023 to
2032.
The Asia Pacific emerged as a global leader in terms of volume and revenue due to increasing
manufacturing activities along with foreign investments in the region.
As per the United Nations Conference on Trade & Development, the inward Foreign Direct
Investment (FDI) rate for the Asia Pacific region was around 9.1% in 2017, the highest compared
to other regions. An increase in FDI helps the region to develop various industries in the country
as well as generate more employment that in turn anticipated to boosts the demand for stainless
steel in the region over the coming years.
Growth Factors
Increase in demand from consumer goods sector is the key factor that propels the market growth
of stainless steel. Flourishing demand of stainless steel in the manufacturing of kitchen products
such as showpieces, cookware, and stoves owing to its benefits that include high ductility &
toughness, resistant to corrosion, and low maintenance required that in turn fuel the market
growth in the consumer goods industry.
Other than this, stainless steel seeks significant demand from the automotive industry that again
influences the market growth positively. Increasing automobile production in the regions such as
Middle East, the Asia Pacific, and Latin America has prominently escalated the demand of
stainless steel in these regions. Main factors contributing towards the increased automobile
production are rise in easy access to credit facility, disposable income, and increasing necessity
of people for personal transportation. The aforementioned factors likely to boosts the demand of
stainless steel across the globe.
Despite of the increased production of automobile, shifting market trend towards implementation
of lighter material such as carbon fiber to enhance the fuel efficiency is a significant factor that
expected to hamper the demand of stainless steel in the near future. Governments of various
regions have issued stringent emission regulations that propel the demand for high fuel
efficiency. Furthermore, carbon fiber also aids high strength and load-bearing capacities that
triggers its implementation over stainless steel in the automotive sector.
Report Scope of the Stainless Steel Market
Base Year 2022
Segments Covered Product, Technology, Application, End
POSCO, Acerinox S.A., Baosteel Grou

Companies Mentioned Stainless, Nippon Steel Corporation, Yi
ThyssenKrupp Stainless GmbH, Outok
Product Insights
In 2022, flat products dominated the global stainless steel market because of increasing use of
cold-rolled products. Superior properties of flat steel that includes concentricity, straightness, and
tolerance make them suitable for various end-use industries such as home appliances, energy, and
construction. Further, the growth in these end-use industries is likely to impel the market growth
for stainless steel over the analysis period.
On the other hand, long products segment projected to register an escalating growth of around
6.8% in terms of value over the forecast timeframe due to the increasing infrastructure spending
in various Asia Pacific regions. In addition, the increasing implementation of stainless steel long
products in heavy industries anticipated to augment the market growth over the coming years.
Based on application the stainless steel market is bifurcated into automotive & transportation,
building & construction, heavy industry, consumer goods, and others. Heavy industry constitute
significant value share on a global scale. Heavy industries include heating cooling & ventilation,
chemical industry, pulp & paper, oil & gas, water treatment, food processing, energy industry,
and many others. Rising trend of renewable generation in the energy sector to manufacture parts
and components of generating station or plant anticipated to boost the growth of stainless steel in
the near future. Furthermore, rising industrial revolution along with increasing number of
manufacturing plants in the Asia Pacific region because of several unexplored opportunities in
the region likely to spurs the demand for stainless steel especially in the engineering &
machinery sector of industries.
On the other hand, automotive & transportation is an important application segment that
contributes significantly to the overall market revenue. As per the statistics published by the
World Steel Association in 2021, the automotive sector accounts for around 12% of global steel
consumption. Stainless steel is mainly used in manufacturing various automotive parts &
components that include basic vehicle frame for hoods, mufflers, doors, and fuel tanks. Stainless
steel together with iron contributes nearly 70% of the total vehicle weight. Consequently, the
above mentioned factors expected to propel the market growth over the analysis period.
The market players in the stainless steel industry focus primarily on their capacity expansion
across various regions. For instance, in March 2020, Acerinox S.A. invested a significant amount
in the pickling and annealing lines. According to the company officials, this is one of the most
advanced technological systems in the global market for stainless steel as well as expected to
offer alluring opportunities to the company in the near future, as the line can produce a diverse
range of products.
Some of the prominent players in the stainless steel market include:
 POSCO
 Acerinox S.A.
 Baosteel Group
 Jindal Stainless
 Aperam Stainless
 Nippon Steel Corporation
 Yieh United Steel Corp. (YUSCO)
 ThyssenKrupp Stainless GmbH
 Outokumpu
 ArcelorMittal
This research study comprises complete valuation of the market revenue with the help of
widespread quantitative and qualitative insights, and prognoses of the market. This report
presents breakdown of market into forthcoming and niche segments. Additionally, this research
study gauges market revenue growth and its drift at global, regional, and country from 2020 to
2032. This report includes market division and its revenue assessment by categorizing it
depending on product, grade, application, and region:
By Product
 Long
 Flat
By Grade
 Duplex Series
 400 Series
 300 Series
 200 Series
 Others
By Application
 Heavy Industry
 Consumer Goods
 Others
By Regional Outlook
 North America
o U.S.
o Canada
 Europe
o U.K.
o Germany
o France
 Asia Pacific
o China
o India
o Japan
o South Korea

What is the current size of stainless steel market?
As per Precedence Research, The global stainless steel market value was accounted at USD
111.4 Billion in 2022 and expected to reach USD 214.07 Billion by 2032.
Aerial Work Platforms Market (By Platform Working Height: Below 10 meters, 10-20
Meters, 20-30 Meters, Above 30 Meters; End-User: Construction, Maintenance and
Cleaning, Logistics and Transportation, Manufacturing, Aerospace and Defense, Others;
Propulsion Type: Internal Combustion Engine (ICE), Electric Powered; Types: Boom Lift,
Scissor Lift, Atrium Lift) - Global Market Size, Trends Analysis, Segment Forecasts,
Regional Outlook 2024 - 2033
The global aerial work platforms market size was estimated at USD 12.22 billion in 2023
and it is expected to be worth around USD 29.90 billion by 2033 with a compound annual
growth rate (CAGR) of 9.3% in the forecast period 2024 to 2033.
Statistics
Key Takeaway
 North America has captured the largest market share of 38.13% in 2023.
 Asia Pacific is expected to expand at the fastest CAGR during the forecast period.
 By end-user, the construction segment led the market with the biggest market share of
45.53% in 2023.
 By propulsion type, the internal combustion engine segment dominated the market with
the biggest market share of 83.20% in 2023.
 By types, the scissor lift segment has contributed more than 49.28% of revenue share in
2023.
Aerial Work Platforms Market in the U.S. 2024 to 2033
The U.S. aerial work platforms market size was valued at USD 3.83 billion in 2023 and is
anticipated to reach around USD 10.19 billion by 2033, poised to grow at a CAGR of 10.28%
from 2024 to 2033.
North America dominated the market with the maximum market share of 38.13% in 2023. North
America, particularly the United States and Canada, has a highly developed economy with
significant investments in infrastructure, construction, manufacturing, and other industries that
require aerial work platforms. The robustness of these sectors drives demand for aerial work
platforms. North America has stringent safety regulations and standards governing construction
and workplace safety. Compliance with these regulations often necessitates the use of aerial work
platforms to ensure safe working conditions at height, further driving market demand.
Asia Pacific is observed to witness expansion at fastest CAGR during the forecast period. Asia
Pacific is experiencing rapid urbanization, with growing investments in infrastructure projects
such as construction, maintenance, and renovation of buildings, bridges, and roads. Aerial work
platforms are essential equipment for accessing elevated work areas in these construction and
infrastructure projects, driving demand in the region. Asia Pacific is witnessing significant
growth in construction activities across residential, commercial, and industrial sectors. Aerial
work platforms are indispensable tools for construction tasks such as painting, welding, glazing,
and façade maintenance, supporting the expansion of the market in the region.
Governments in Asia Pacific are investing heavily in infrastructure development, including
transportation networks, airports, and ports. Aerial work platforms are essential for maintenance
and repair activities in these infrastructure projects, further fueling market growth.
 Asia Pacific aerial work platforms market size was valued at USD 1.64 billion in 2023
and growing at a compound annual growth rate (CAGR) of 13.7% from 2024 to 2033.
 Europe aerial work platforms market size was estimated at USD 3.52 billion in 2023 and
is expanding at a CAGR of 8.5% from 2024 to 2033.
 France aerial work platforms market size was exhibited at USD 533.6 million in 2023
and it is projected to reach at a CAGR of 12.1% from 2024 to 2033.
 Japan aerial work platforms market was surpassed at USD 439.7 million in 2023 and is
growing at a CAGR of 12.7% from 2024 to 2033.
 China aerial work platforms market size was valued at USD 168.8 million in 2023 and it
is anticipated to reach at a compound annual growth rate (CAGR) of 17.8% from 2024 to
2033.
Growth Factors
Government authorities of several regions have imposed stringent worker safety norms expected
to surge the adoption of advanced lifting technologies across the globe. Further, rising
investments in construction and infrastructure sectors by the private and government authorities
again propels the market growth. Government authorities across various regions are significantly
investing for the development of public transportation infrastructure that includes airports,
railway stations, and residential buildings. Mobile elevating work platforms (MEWPs) are
prominently used at construction sites to lift tools, workers, and other light materials at an
elevated height safely and efficiently.
The accessibility of aerial work platforms (AWP) rental services provides an impetus to the
growth in market size. Companies renting AWP offer a wide range of equipment from various
equipment manufacturers to augment their product portfolio that provides a positive market
outlook. Moreover, the advent of electrification in the global construction industry prominently
supports the industry growth of aerial work platform market. Electric AWPs notably aid in
reducing the carbon footprint as well as offer noiseless performance compared to diesel-powered
equipment anticipated to boost the demand for AWP in the coming years.
Besides this, unavailability of skilled workers for operating the equipment challenges the
industry growth. Numerous AWP manufacturers operating in the industry provide operator
training courses to address the challenge. Moreover, the high cost of MEWPs anticipated to
hamper the market growth over the forecast timeline.
Aerial Work Platforms Market Scope
Global Market Size in 2023 USD 12.22 Billion
Global Market Size by 2033 USD 29.90 Billion
U.S. Market Size in 2023 USD 3.83 Billion
U.S. Market Size by 2032 USD 10.19 Billion
Base Year 2023
Segments Covered Type, Product, Application, Region
CTE, Aichi Corporation, Haulotte Grou

Heavy Industry Company, Ltd., Zhejian
Companies Mentioned
Holland Lift International bv, JLG Indu
Industry Co. Ltd.
Market Dynamics
Market Drivers
Increasing Constructional And Infrastructural Activities
Rising improvement in urban and rural infrastructure, coupled with government initiatives to
provide the technological facilities such as electrical utilities and telecommunication network to
the rapidly increasing population in the various countries including China, India, Brazil,
Bangladesh, Indonesia, the U.S., and others are expected to propel the growth of end-use
industries such as construction, electric & telecommunication, retail, and others. This, in turn, is
anticipated to increase the demand for aerial work platforms as a large number of end-use
industries across the globe use aerial lifts for new and daily maintenance work.
A large number of boom and scissor lifts are used at airports for the placement and storage of
luggage and cleaning and maintenance work of aircraft. Articulated electrical boom lifts are used
on a large scale for work on the interior of the airport premises to reach the overhead of an
aircraft for cleaning, maintenance, and inspection work. Their trend is like to continue in the
coming years with rise in the number of flyers and construction of new airports which, in turn, is
expected to lead to the requirement for different types of lifts, thus propelling the growth of the
overall aerial work platform market.
Increasing Number Of Retail And Warehouse Units
An attempt to provide uninterrupted supply of products and equipment requires storage and
warehouse units, especially by e-commerce and logistics companies. Keeping and storing the
required products reduces the shortage of materials and helps in maintaining the inventory up to
date. Rising e-commerce platforms are the major drivers fueling the growth of warehouse units
across the globe. Promised shipping standards by various e-commerce giants require near-by
storage and warehouse units that employ a large number of scissor, vertical, and boom lifts for
product handling and transportation from one place to another. These aerial platforms promote
easy material handling and lookup in bulk orders and help retain a company’s delivery promises.
Fully automated warehouses are gaining popularity in various developed countries. These
warehouses are equipped with several aerial lifts and platforms that need minimum human
intervention. They require the deployment of a large number of single scissor lifts, double scissor
lifts, and other lifting tables for product and pellets placement. Massive funding and investment
in the construction of warehouse buildings by various e-commerce and logistics companies
across the globe are expected to significantly contribute to overall market growth. For instance,
Walmart and eBay spend heavily on logistics and warehousing to compete with Amazon in terms
of fulfilling product delivery to consumers. Moreover, Amazon India established 10 new
warehouses in the country in 2020, which is likely to increase the demand for different types of
lifts in these warehouses, thereby adding to the overall growth prospects of the aerial work
platform market.
Market Restraint
Lack Of Skilled Labor
The demand for various mechanical and electrical equipment for aerial lifts production has
witnessed an upward trend in recent years. Manufacturers are forced to offer technically
advanced machines or lifts such as hybrid and electricity-driven machines to conserve fuel.
However, the penetration of such advanced and technologically enhanced aerial platforms has
not been widespread owing to the lack of skilled labor.
Several companies such as Wiese USA, MEC Aerial Work Platforms, JLG Industries, and
various other market players conduct training and certification courses to ensure the proper use
of different types of aerial platforms. This becomes a major challenge which hampers the growth
of the market. Untrained worker or operator increases the safety concern in the working area
which may lead to an unexpected incident. Moreover, ANSI A92 has strict regulations and
standards in place for the use and operations of aerial work platforms as training and
maintenance contribute to the safe and efficient operation of aerial lifts.
Market Challenges
High Dependency On Raw-Material Suppliers And Vendors
 High dependency on raw material suppliers or third-party suppliers for assembled parts
such as drive trains, engines, tires, hydraulics, electric controls and motors, and various
others makes manufacturers vulnerable to supply shortages and price increments. Delays
in receiving supplies may affect the manufacturers' ability to deliver the product to
customers, which, in turn, may affect a business entity’s mode of operation, finance, and
market positioning.
Environmental Health and Safety Impact
 Environment Health and safety is a global industry concern and high risk is involved in
aerial work platform as the related work is performed above the ground at a certain
height. Therefore, strict guidelines need to be followed while operating different types of
aerial lifts. Approved aerial lift trainers are provided to guide and train workers &
controllers to effectively work at a certain height. This directly increases the overall
spending of the manufacturers and often leads to delay in work, if proper guidelines are
not followed.
 Diesel or gasoline-based lifts are restricted from use in indoor premises. They are being
replaced with aerial lifts that run on electricity to reduce carbon footprints. Hence, the
manufacturer is forced to spend more on remanufacturing and maintenance of aerial
platform for changing of engines that complies with stage V emission norms. This
increases the maintenance and repair cost of companies to a certain level.
Changes In Import/Export Regulatory Regimes
 The imposition of different tariffs by various countries and global trade conflicts may
negatively affect business on a global scale. For example, the U.S. administration
imposed tariffs on certain foreign goods from a number of countries, especially China,
which led to an increase in the overall cost of products as prices of certain raw materials,
including steel, aluminum, or iron, get affected due to imposed tariffs. In addition, same
happens for the Chinese market. For instance, as per Terex Corporation, tariffs imposed
by the Chinese government on U.S. imports have made the cost of some of the
company’s products more expensive for Chinese customers.
High Competition
 To successfully introduce a product in the market, the manufacturer has to take into
account various factors such as high quality, reliability, features, price, ease of use, and
comfort to fulfill customer demands in terms of machine specifications. This has created
a need for higher financial resources for major competitor present in the market, which
puts them at a competitive disadvantage. In addition, competition from countries such as
China and other developing markets providing low-cost alternatives often creates
hindrance to a majority of the key players and creates a higher competition in the overall
aerial work platform market.
End-User Insights
The construction segment held the largest market share of 45.53% in 2023. Construction projects
often involve working at elevated heights, such as during building construction, roofing, or
façade installation. Aerial work platforms provide safe and efficient access to elevated work
areas, allowing workers to perform tasks at various heights with ease. Aerial work platforms
come in various types, including boom lifts, scissor lifts, and vertical mast lifts, each suited to
different construction tasks and site conditions. Their versatility and adaptability make them
indispensable equipment for construction companies seeking efficient solutions for accessing
heights in diverse construction environments.
On the other hand, the maintenance and cleaning segment is observed to witness the fastest rate
of expansion during the forecast period. As urbanization and infrastructure development continue
to expand globally, there is a growing need for regular maintenance and cleaning of buildings,
including high-rise structures, commercial complexes, and industrial facilities. Aerial work
platforms provide efficient and safe access for maintenance personnel to perform tasks such as
window cleaning, facade inspection, painting, and repair work.
There is a growing emphasis on sustainability and environmental responsibility in the
maintenance and cleaning industry. Aerial work platforms powered by electric or hybrid
propulsion systems offer eco-friendly alternatives to traditional diesel-powered equipment,
reducing emissions and environmental impact during operation.
Propulsion Type Insights
The internal combustion engine segment led the market with the highest market share of 83.20%
in 2023. Internal combustion engines offer high power output and performance capabilities,
making them well-suited for heavy-duty applications such as lifting and maneuvering aerial work
platforms. Their robust performance allows for efficient operation in various work environments,
including construction sites, industrial facilities, and outdoor settings.
Aerial work platforms powered by internal combustion engines can operate at higher altitudes
and have a longer working radius than those powered by electricity. Accessing elevated work
areas, where accuracy and dexterity are crucial, including utility poles, building facades and
rooflines, requires an extended reach.
The electric powered segment is expected to grow at the fastest rate during the forecast period.
An increasing number of individuals prefer electric-powered equipment over conventional
diesel-powered options due to rising environmental awareness and the need to minimise carbon
emissions. Because they emit fewer pollutants and greenhouse gases, electric aerial work
platforms are a more environmentally responsible option.
In the long run, electric aerial work platforms are less expensive than their diesel-powered
equivalents. Electric vehicles have reduced running and maintenance costs due to less frequent
refuelling, fewer mechanical components, and less wear and tear, even though their initial
purchase price may be higher.
 LGMG Europe intended to provide a telescopic boom lift with electrical power to the
market in 2022. According to the business, these electrically-powered booms have been
tested in China since 2020 and are now prepared for the global market. They arrived in
Europe last year after three additional boom lifts. In response to requests for machines
with dual lift capacities and wider platforms, the T20J, T22J, and T26J were introduced
in 2021.
Aerial Work Platform Market Value (US$ Mn), 2020-2023
Propulsion Type 2020 2021 2022 2023
Internal Combustion 1,806.9 1,878.6 1,957.4 2,055.4

Engine (ICE)
Electric Powered 8,543.1 9,018.3 9,542.0 10,172.7
Types Insights
The boom lift segment has held revenue share of 38% in 2023. The segment is observed to
sustain the position during the forecast period. Boom lifts are renowned for their impressive
height and outreach capabilities, allowing workers to access elevated workspaces at considerable
heights, often exceeding those of other types of aerial work platforms. This makes them ideal for
tasks such as building maintenance, construction, window cleaning, and tree trimming, where
extended reach is essential.
Manufacturers continue to innovate with the integration of advanced safety features into boom
lifts, such as fall arrest systems, anti-tip mechanisms, overload sensors, and platform interlocks.
These safety enhancements prioritize worker protection and compliance with stringent industry
regulations, further contributing to the popularity of boom lifts.
On the other hand, the scissor lift segment is expected to witness the fastest expansion during the
forecast period. Scissor lifts are highly versatile aerial work platforms that can be used across a
wide range of industries and applications. From construction and maintenance tasks to
warehousing and logistics operations, scissor lifts offer a flexible solution for accessing elevated
work areas. The construction industry, in particular, is witnessing significant growth worldwide,
driving demand for aerial work platforms such as scissor lifts. These platforms play a crucial role
in construction projects for tasks such as installation, painting, electrical work, and maintenance,
contributing to the segment's expansion.
The global aerial work platforms market participants are investing prominently on the research &
development (R&D) activities to develop new products and enhance the safety of workers along
with the lifting capacity of the AWP. Moreover, the industry players are also focusing on the
development of electric AWPs and MEWPs. For instance, in July 2019, MEC Aerial Work
Platform launched its new Micro 26 slab scissor lift. The new AWP features a 36-inch roll out
extension deck with incremental lock positions that maximizes productivity and material
usage.Besides this, market players also focus strictly towards inorganic growth strategies that
include partnership, merger & acquisition, and collaboration.
Aerial Work Platforms Market Companies
 CTE
 Aichi Corporation
 Haulotte Group
 Dinolift OY
 Hunan Runshare Heavy Industry Company, Ltd.
 Zhejiang Dingli Machinery Co, Ltd.
 Holland Lift International bv
 JLG Industries
 Hunan Sinoboom Heavy Industry Co. Ltd.
 Niftylift Limited
 Manitou Group
 Snorkel
 Skyjack
 Tadano Limited
 SocageSrl
 Teupen
 Genie
By End-User
 Construction
 Maintenance and Cleaning
 Logistics and Transportation
 Manufacturing
 Aerospace and Defense
 Others
By Propulsion Type
 Internal Combustion Engine (ICE)
 Electric Powered
By Platform Working Height
 Below 10 meters
 10-20 Meters
 20-30 Meters
 Above 30 Meters
By Type
 Boom Lift
o Articulating Boom Lift
o Telescopic Boom Lift
o Cherry Pickers
 Scissor Lift
o Electric Scissor Lifts
o Rough Terrain Scissor Lifts
o Pneumatic Scissor Lifts
 Atrium Lift
o Z-style Atrium Lift
o S-style Atrium Lift
By Regional Outlook
 North America
o U.S.
o Canada
 Europe
o U.K.
o Germany
o France
 Asia Pacific
o China
o India
o Japan
o South Korea

What is the current size of aerial work platforms market?
The global aerial work platforms market size accounted for USD 12.22 billion in 2023 and it is
expanding around USD 29.90 billion by 2033.
Construction Equipment Rental Market (By Product Type: Material Handling Machinery,
Earth Moving Machinery, Concrete and Road Construction Machinery) - Global Industry
Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023 - 2032
The global construction equipment rental market was valued at USD 101 billion in 2022
and to reach over USD 154.61 billion by 2032, predicted to register a compound annual
growth rate (CAGR) of around 4.4% from 2023 to 2032.
Statistics
Key Takeaways
 Asia Pacific dominated the market with the highest market share in 2022.
 North America is expected to expand at the largest CAGR between 2023 and 2032.
 By Product, the earthmoving machinery segment dominated the market in 2022.
Construction Equipment Rental Market in the Asia Pacific 2023-2032
The Asia Pacific construction equipment rental market size was valued at USD 38.38 billion
in 2022 and is estimated to reach around USD 59.32 billion by 2032, growing at a CAGR of
4.50% from 2023 to 2032.
One of the prime influencer for driving the demand for construction equipment and rental
revenues augmented growth of worldwide infrastructure projects. For example, project such as
China’s Belt and Road program, an extraordinary USD 1 trillion investment in roads, ports, and
rail infrastructure throughout over 150 countries is driving the demand for rental equipment.
Such program purposes to link China with other zones of Russia, Asia, and Europe by sea and
land corridors. Further, similar large-scale infrastructure projects in the evolving world, have
assisted the growth of global rental market. Construction equipment revenue in evolving
economies is expected grow on account of upsurge in residential construction.
The construction engineering in Asian economies such as China, India, and Japan is undergoing
rapid development on account of swelling infrastructure transformation programs throughout all
industry verticals. Government policies to develop public infrastructures including shopping
complexes, schools, and parks in urban regions plus facility of water supply, transportation,
sanitation in rural areas, are motivating the growth of local construction equipment rental market.
The Indian government has started a series of leading initiatives, like Smart Cities Mission,
Make in India, Housing for All, and the AMRUT also known as Atal Mission for Urban
Rejuvenation & Transformation is also projected to support sale for construction equipment
rental services in this region. As per the Indian, National Investment Promotion and Facilitation
Agency, the construction industry is estimated to gather revenue around USD 740 billion by
2022, there by offering alluring market expansion prospects.
Growth Factors
Constant improvements in the infrastructure industry along with a diverse range of cutting-edge
construction equipment in rental fleets are anticipated to spur the demand for the construction
equipment rentals services across the globe. Corporations in the construction equipment rental
market are skillful in identifying consumers and accordingly reposition construction equipment
to diverse locations to control swelling requirement from real estate sector in residential and
commercial areas. Furthermore, stringent guidelines, cumulative ownership price and financial
restraints are some of the important motives stimulating the growth of global construction
equipment rental market. On the other hand, unstable fuel prices and spending of delivering and
picking up machinery, specifically if the contractor is working in inaccessible areas may impede
demand in the construction equipment rental market during years to come.
Technological progressions in heavy machinery and automotive industry have carried out
numerous new-fangled features in the construction equipment rental market. Construction
equipment manufacturers are strongly concentrating on integrating cutting-edge safety features
including 360-degree camera visual, lift assist, and supplementary work lights and also striving
to offer systems that increase operational productivity and need minor maintenance.
Nevertheless, these features come at a great cost, which is not reasonable to numerous small
contractors and builders. Due to these factors, professionals are more inclined towards rental
construction machinery.
Construction Equipment Rental Market Scope
Base Year 2022
Segments Covered Product Type, Region Type
Cramo PLC., Loxam Group,United Ren

Companies Mentioned Limited, Nesco Rentals,The Hertz Corp
LLC, Ahern Rentals Inc., Boels Rental,
Product Insights
Global construction equipment rental market can be classified on the basis of product into
material handling machinery, earthmoving machinery, and concrete and road construction
machinery. Out of these different products contributing in market growth, earthmoving
machinery led the global construction equipment rental market in 2022. Nevertheless, the
concrete and road construction machinery segment is also projected to display the utmost growth
rate during the assessment period. The earthmoving machinery including excavators experiences
huge demand across the globe due to its widespread application scope in mining, agriculture and
construction industries. Other equipment in this category includes mini excavators, backhoe
loaders, crawler excavators, and skid-steer loaders that also possess eye-catching market
potential. These provide high load capability and engine power, which allow them to operate
competently in harsh circumstances.
Some of the successful approaches implemented by the major companies in order to preserve
their market foothold include addition of new-fangled equipment to the present fleet and
acquisitions and mergers among others. Technologically improved and fuel-efficient products
have emerged as vital factor for being competitive in the marketplace for construction equipment
rental services.Additionally, construction equipment rental corporations operational in this sector
are offering certified training and online courses to operatives, safeguarding maximum security
while operating possibly dangerous construction machines. The major five important players
including Ashtead Group PLC, Kanamoto Co. Ltd, United Rentals Inc., Herc Rentals, H&E
Equipment Services, and Loxaman in the rental market garner more than 15% of the revenue
share. Some of the noteworthy players in the construction equipment rental market include:
 JCB
 Zahid Group
 Industrial Supplies Development Co. Ltd
 Ahern Equipment Rentals
 John Deere
 Caterpillar Inc.
 Gemini Equipment and Rentals (GEAR)
 Hertz Equipment
 Komatsu Equipment
 Maxim Crane Works
 Neff Rental
This research report includes complete assessment of the market with the help of extensive
qualitative and quantitative insights, and projections regarding the market. This report offers
breakdown of market into prospective and niche sectors. Further, this research study calculates
market revenue and its growth trend at global, regional, and country from 2020 to 2032. This
report includes market segmentation and its revenue estimation by classifying it on the basis of
product typeand region as follows:
By Product
 Material Handling Machinery
o Shelves
o Bins
o Silos
o Conveyors
o Pallet trucks
o Fork lifts
o Frames
o Sliding racks
o Bulk containers
o Platform trucks
o Hand trucks
o Cranes
o Others
 Earth Moving Machinery Concrete

o Excavators
o Loading shovels
o Site dumpers
o Dump trucks
o Others
 Concrete and Road Construction Machinery

o Pavers
o Trenchers
o Planers
o Rollers
o Hot boxes
o Others
By Regional Outlook
 North America
o U.S.
o Canada
 Europe
o U.K.
o Germany
o France
 Asia Pacific
o China
o India
o Japan
o South Korea
 Middle East & Africa

 Latin America
What is the current size of global construction equipment rental market?
The global construction equipment rental market was valued at USD 101 billion in 2022 and to
reach over USD 154.61 billion by 2032.
Recycled Metal Market (By Metal Type: Ferrous and Non-Ferrous; By End User:
Construction, Transport & Automotive, Industrial Machinery, Electronics, Defense,
Packaging, Military, Consumer Goods, and Others) - Global Industry Analysis, Size, Share,
Growth, Trends, Regional Outlook, and Forecast 2023 - 2032
The global recycled metal market was estimated at US$ 2.50 billion in 2022 and is expected
to surpass around US$ 4.37 billion by 2032, poised to grow at a CAGR of 5.80% from 2023
to 2032.
Statistics
Recycled Metal Market Size in the Asia Pacific 2023 To 2032

The Asia Pacific recycled metal market was valued at US$ 1.53 billion in 2022 and is projected
to hit around US$ 2.62 billion by 2032, growing at a CAGR of 5.60% between 2023 to 2032.
Based on region, Asia Pacific dominated the global recycled metal market with a share of over
50% in 2022, in terms of revenue and is estimated to sustain its dominance during the forecast
period. Asia Pacific is the highest consumer of the recycled metal. The development of improved
waste management system and recycling technologies coupled with increased awareness
regarding the deteriorating environmental concerns is fostering the growth of the market in this
region. Moreover, Rising urbanization and rapid industrialization is augmenting the demand for
the recycled metal in the region. According to the Indian Brand Equity Foundation, India
requires an investment of more than US$ 750 billion by 2022 in the development of
infrastructure in order to achieve sustainable development. China is planning to invest more than
US$2.5 trillion in transport and construction sector that is expected to boost the demand for the
recycled metal significantly. These rising investments by the developing economies in the growth
of the infrastructure is boosting the market growth.
On the other hand, North America is expected to be the most opportunistic market. This is
attributable to the highest production of steel in US, increased environment consciousness, and
rising demand for the aluminium from the automotive sector for manufacturing of electric
vehicle. The automotive sector is expected to drive the demand for the non-ferrous metals in the
upcoming years that may propel the growth of the recycled metal market in the region. Further,
rising government initiatives to reduce carbon footprint is encouraging the different industries to
adopt recycled metal, thereby fostering market growth in the region.
Growth Factors
The global recycled metal market is primarily driven by the rapid growth of the building and
construction industry. The rapid urbanization and rapid industrialization is augmenting the
recycled metal market growth across the globe. The rising demand for steel owing the
infrastructural development and rapid urbanization in the Asia Pacific, Latin America, Middle
East, and Africa is significantly boosting the demand for the recycled metal market. Rising
awareness regarding the negative environmental impact of mining has resulted in the increased
government interference in the metal mining sector to reduce carbon footprint and reduce the
environmental impacts of metal mining. Therefore, increase in government initiatives to reduce
dependency on mining is positively impacting the growth of the global recycled metal market
across the globe. This has resulted in an increased adoption of metal recycling technologies and
boosted the usage of recycled metals in various end use applications such as industrial,
construction, automotive, and electronics industries.
The rapid growth of the building and construction and automotive industry in the developed
regions like North America and Europe has significantly propelled the growth of the global
recycled metal market in the past years. Further, the rising public and private investments in
building sophisticated infrastructure in the developing economies such as Brazil, China, India,
and Argentina is expected to drive the growth of the recycled metal market during the
foreseeable future. Moreover, the rapid growth and popularity of the metal recycling
technologies to develop a sustainable solution is fostering the demand for the recycled metal
market. Metal recycling results in energy savings as compared to the energy consumption in
metal mining. The rising awareness regarding the utilization of waste metals and strict
government norms regarding the usage of recycled metal is expected to foster the market growth
across the globe. Further, the rising demand for the transport services, automotive, construction,
and electronics among the global consumers is contributing towards the growth of the recycled
metal market.
Scope of the Recycled Metal Market Report
Market Size By 2032 USD 4.37 Billion
Market Size In 2023 USD 2.63 Billion
Growth Rate CAGR of 5.80% from 2023 to 2032
Base year 2022
Segments Covered Mental Type, End User, Region
CMC, Tata Steel, GFG Alliances, European Metal

Recycling, Norsk Hydro ASA, Novelis, Sims Metal
Companies Mentioned Management, Commercial Metal Company, Steel
Dynamics, Nucor Corporation, Aurubis AG, ELG
HanielGmbh and Schnitzer Steel
Metal Type Insights

Based on metal type, the ferrous segment dominated the global recycled market in 2022, in terms
of revenue and is estimated to sustain its dominance during the forecast period. The ferrous metal
includes iron, steel, stainless steel, and titanium. These metals are extensively used in the
construction, electronics, and industrial machineries production. The increased volume usage of
such electronics and industrial machineries and construction across the globe have resulted in the
increased consumption of ferrous metals that made this a leading segment in the market.
On the other hand, the non-ferrous segment is estimated to be the fastest-growing segment
during the forecast period. This is attributable to the rising usage of aluminium in various end use
industries such as building & construction, industrial machineries, aerospace, and automotive.
The aluminium is a durable and light-weight metal and hence its consumption is growing all over
the globe.
End User Insights
Based on end user, the transport & automotive segment dominated the global recycled market in
2020, in terms of revenue and is estimated to sustain its dominance during the forecast period.
The extensive usage of recycled metals in the transport and automotive sector across the globe
has had increased the consumption of the recycled metal in this end use application, making it
the most dominant segment.
On the other hand, the construction segment is estimated to be the most opportunistic segment
during the forecast period owing to the rising investments in the developing nations like China,
India, and Brazil for infrastructural development. The rapid urbanization and rapid
industrialization is boosting the consumption of recycled metal in the construction industry,
thereby fueling the market growth.
development of improved solutions. Moreover, they are also focusing on maintaining
competitive pricing.
In June 2019, Tata Steel, a major steel producer in India, announced to establish a metal
recycling facility. It would be India’s first recycling unit.
The various developmental strategies like business expansion, fosters market growth and offers
lucrative growth opportunities to the market players.
Some of the prominent players in the global recycled metal market include:
 CMC
 Tata Steel
 GFG Alliances
 European Metal Recycling
 Norsk Hydro ASA
 Novelis
 Sims Metal Management
 Commercial Metal Company
 Steel Dynamics
 Nucor Corporation
 Aurubis AG
 ELG HanielGmbh and Schnitzer Steel
By Metal Type
 Ferrous
 Non-Ferrous
By End User
 Construction
 Transport & Automotive
 Industrial Machinery
 Electronics
 Defense
 Packaging
 Military
 Consumer Goods
 Others
By Geography
 North America
o U.S.
o Canada
 Europe
o U.K.
o Germany
o France
 Asia Pacific
o China
o India
o Japan
o South Korea

What is the current size of recycled metal market?
According to Precedence Research, the global recycled metal market size was reached at US$
2.50 billion in 2022 and is projected to hit over US$ 4.37 billion by 2032.
Metal Stamping Market (By Process: Blanking, Embossing, Bending, Coining, Flanging;
By Material: Steel, Aluminum, Copper, Others; By Press Type: Mechanical Press,
Hydraulic Press, Servo Press; Application) - Global Industry Analysis, Size, Share, Growth,
Trends, Regional Outlook, and Forecast 2023 – 2032
The global metal stamping market was estimated at US$ 200 billion in 2022 and is expected
to hit around US$ 300.34 billion by 2032, poised to grow at a CAGR of 4.20% during the
forecast period 2023 to 2032.
Statistics
Metal Stamping Market Size in Asia Pacific 2023 to 2032

The Asia Pacific metal stamping market was valued at US$ 68 billion in 2022 and is predicted to
be worth around US$ 125.85 billion by 2032 with a CAGR of 3.6% between 2023 to 2032.
Asia Pacific accounted for the largest profit share of more than 36% in 2022 owing to the
growing demand for cars and consumer electronics in the region and is anticipated to witness the
fastest growth rate over the cast period. The growth is majorly driven by developing countries
similar as India, China, Bangladesh, Pakistan, and Indonesia where the rising demand for phones
along with other consumer electronics is anticipated to foster the growth of the market.
Furthermore, growing industrialization coupled with structure development and growth in the
defense industry is anticipated to have a positive impact on the demand for equipment and
machinery in Asia Pacific. Countries similar as China and India are adding their investments in
the defense industry. For instance, China increased its defense budget by7.5% in 2019 to upgrade
the defense outfit, and launch advanced defense aircraft. The rising demand for defense outfit is
anticipated to drive the market during the forecast period.
On the other hand, in North America, product consumption is likely to be driven by rising
demand from the automotive industry. Automakers in the region are focusing on adding the
product of lightweight vehicles by using metal similar as aluminum in various factors to reduce
energy consumption. As of 2018, nearly 50% of the vehicles manufactured in the region
comprise of aluminum hoods and this figure is anticipated to reach 80% by 2032. The adding
product of aluminum hoods is anticipated to drive the market during the forecast period.
Growth Factors
Metal stamping is a complex process of manufacturing which is utilized to convert flat metal
sheets into a certain specific shapes by keeping them in either the blank or coil form into a
stamping press. This can further be done by using various techniques of metal forming, including
punching, blanking, piercing, bending, embossing, coining, and flanging. In addition, metal
stamping can further produce a myriad volume of metal components which are identical in
nature at a lesser cost. Consequently, various companies have been majorly investing in R&D
activities in order to introduce automated metal stamping technology for the production of
agricultural equipment.
The up surging consumer electronics market is likely to remain a major boosting factor for the
application of metal frames in headphones, mobile phones, speakers, gamepads, and controllers.
In mobile, metal stamping is utilized in manufacturing chassis, camera lens holders and antennas
as it provides high corrosion resistance, tolerance, electrical conductivity, and a smooth finish.
According to GSM Association, the number of unique mobile subscribers around the global is
expected to reach 5.9 billion by the year 2025, which is likely to boost the demand for phones
and eventually metal stamping during the forecast period.
Report Scope of the Metal Stamping Market
Market Size USD 300.34 Billion by 2032
Growth Rate CAGR of 4.20% from 2023 to 2032
Base Year 2022
Segments Covered Product, Material, Application, Press Ty
Acro Metal Stamping, Kenmode, Inc., M

Company, Ford Motor CompanyD&H I
Companies Mentioned Stamping Co, Clow Stamping Compan
Nissan Motor Co., Ltd, Tempco Manuf
Holdings Pte. Ltd., CAPARO
The COVID-19 has by the time affected the sales of industrial machinery and electronics
equipment in the primary quarter of 2020 and has a major impact on the market growth during
that year, as now the key players are efficient with workforce shortage and trying to come up
with the losses, during the 2020. The industrial machinery significant requirement is majorly
noticed among huge manufacturing countries like US, which is majorly affected by the spread of
novel COVID19, therefore hampering the demand for industrial machinery. The North America
region especially the U.S. has observed an extraordinary rise in number of confirmed cases
which resulted in large-scale lockdown across various regions as well as industrial activities. In
resultant, several medium& small enterprise owners have shrunken their industry personnel
whereas many other have done rightsizing shortly owing to restricted business operation. In
addition to this, the company also decreased the allocated budget for manufacturing of metal
stamping owing to factor of economic slowdown, which affected the business activities.
Moreover, the supply chain, component manufacturer and distributor’s lack of availability of
business has further significantly influenced the production of metal stamping by the market
players. Therefore, the market is likely to witness a major downfall in the demand among the
end-users for the year.
Furthermore, most of the manufacturing plants were shut down, municipalities were functioning
slowly as compared to the previous year, and the automotive industry was at halt, which
negatively impacted the metal stamping market in the region.
Process Insights
The blanking segment held the largest profit share of further than 30% in the year 2020.
Blanking is an integral part of manufacturing motorcars on account of its precise and superior
stamping capability. The technique involves the use of a die to gain the asked shape. The
growing use of blanking in the machine industry on account of its capability to cater to mass
product lines is anticipated to augment segmental growth over the coming times.
Embossing was the second largest member in 2020 owing to its advantages similar as the
capability to produce different patterns and sizes, depending on the roll dies. This is performed
by passing a metal sheet between rolls of the required pattern. Embossing a distance essence
reduces disunion, enhances stiffness and severity, and enhances traction.
Material Insights
Based on material, steel stamping market captured the worldwide market in 2020attributable to
high & easy accessibility of steel, minimal effort, high quality, and low cost. However, the
market is estimated to foster a quick growth during the forecast period. The increasing growth of
metal stamping market is exponentially attributed to the upsurge in interest from the automotive
and aerospace sectors in order to keep fuel weight and expenses down.
Key Market Developments
 In January 2022, the key player named Ansys launched its first software based on metal
stamping simulation in January, which is an all-inclusive product majorly equipped in
order to meet the industrial needs under one platform. Furthermore, Ansys Forming
delivers predictive accuracy and a streamlined workflow to design digitally, validate and
simulate sheet metal forming throughout the processing of manufacturing.
 In December 2020, the key player named General Motors Co. declared its plans
regarding its investing more than $5 million in its facility of metal stamping which is
based in Ohio, U.S. In addition, this investment will further be utilized in order to
construct 4 new metal assembly cells gradually to support the rising production of GMC
Sierra pickup trucks and Chevrolet Silverado. Furthermore, in the view of the
International Energy Agency, global sales of Electric Vehicle exceeded by 3.4 million, out
of which, China had the share of more than 50% in the year 2021. Also, various
government initiatives, like electric car subsidies for the local manufacturers in order to
support the surge of EVs are the key growth factors responsible for the enhanced
production.
Some of the prominent players in the global metal stamping market include:
 Acro Metal Stamping
 Manor Tool & Manufacturing Company
 D&H Industries, Inc.
 Kenmode, Inc.
 Klesk Metal Stamping Co
 Clow Stamping Company
 Goshen Stamping Company
 Tempco Manufacturing Company, Inc
 Interplex Holdings Pte. Ltd.
 CAPARO
 Nissan Motor Co., Ltd
 AAPICO Hitech Public Company Limited
 Gestamp
 Ford Motor Company
By Process:
 Blanking
 Embossing
 Bending
 Coining
 Flanging
By Material
 Steel
 Aluminum
 Copper
 Others
By Application
 Automotive & Construction
 Consumer electronics
 Aerospace
 Electrical & Electronics
 Telecommunications
 Others
By Press Type
 Mechanical Press
 Hydraulic Press
 Servo Press
By Geography
 North America
o U.S.
o Canada
 Europe
o U.K.
o Germany
o France
 Asia-Pacific
o China
o India
o Japan
o South Korea
o Malaysia
o Philippines
 Latin America
o Brazil

o GCC
o North Africa
o South Africa

What is the current size of metal stamping market?
According to Precedence Research, the global metal stamping market size was valued at US$
200 billion in 2022 and is anticipated to surpass around US$ 300.34 billion by 2032.
Metal and Ceramic Injection Molding Market (By Type: Iron & Steel, Stainless Steel,
Copper, Alumina Products, Zirconia, Others; By End User: Aerospace, Automotive,
Industrial Machinery, Medical Equipment, Consumer Goods, Electronics, Others; By
Distribution Channel: Online Stores, Offline Stores) - Global Industry Analysis, Size,
Share, Growth, Trends, Regional Outlook, and Forecast 2023 – 2032
The global metal and ceramic injection molding market size was valued at US$ 4 billion in
2022 and is expected to hit US$ 9 billion by 2032, poised to grow at a CAGR of 8.50%
Statistics
Metal and Ceramic Injection Molding Market Size in Asia Pacific 2023 To 2032
The Asia Pacific metal and ceramic injection molding market size reached US$ 1.44 billion in
2022 and is predicted to expand US$ 3.30 billion by 2032, at a CAGR of 8.70% between 2023 to
2032.
Asia Pacific dominated the global metal and ceramic injection molding market in 2020. The
countries like South Korea, Taiwan, Japan, China, and India are well-known for the production
of various consumer goods like consumer electronics. Moreover, Asia Pacific is the
manufacturing hub of the globe. The easy and cheap availability of the factors of production and
favorable government policies that promotes the region as manufacturing center has resulted in
the increased demand for the metal and ceramic injection molding across various industries.
Moreover, the surging demand for the electric vehicles and healthcare devices is expected to
further propel the growth of the market in the forthcoming years. Furthermore, the rapidly
growing demand for the miniature industrial equipment in the Asia Pacific is significantly
boosting the growth of the metal and ceramic injection molding market.
North America is expected to grow at a considerable rate. The rapid industrialization in the past
and huge demand for the various healths and industrial equipment in the region has fostered the
market growth. The growing demand for the automotive products and medical devices is
expected to drive the growth of the metal and ceramic injection molding market in North
America. Moreover, the surging investments in the adoption of various automated technologies
and high-end electronic products are expected to drive the market growth in the forthcoming
future.
Growth Factors
The metal and ceramic injection molding is extensively used in the manufacturing of products
that involves huge strength, enhanced surface finishing, and complex structures. The surging
demand for the minimally invasive cosmetic surgeries among the global population is expected
to drive the market growth significantly during the forecast period. Moreover, the surging
investments by the manufacturers are contributing towards the growth of the market. The
ceramic and metal molding is a complex process which is managed with high accuracy to
provide a particular product to the end user industry. The materials such as stainless steel, low-
alloy steels, titanium alloys, and soft magnetic alloys are extensively used to manufacture certain
end products across different industries. Therefore, the rising demand for the electronic devices
and medical equipment across the globe is driving the demand for the metal and ceramic
injection molding. The most prominent applications include electronic gadgets, medical
equipment, and components of automotive. The rapid urbanization in the developing regions is a
major factors that is expected to drive the growth of the global metal and ceramic injection
molding market. The burgeoning demand for production in the automotive industry coupled with
the increased demand for the metal and ceramic injection molding technology is spurring the
growth of the global metal and ceramic injection molding market.
The healthcare sector is experiencing massive growth owing to the rising pool of patients across
the globe. The surging demand for the various medical equipment is fostering the growth of the
metal and ceramic injection molding market. The flexibility in designing and low operational
costs associated with the use of metal and ceramic injection molding is significantly boosting its
demand across different end use industries. Moreover, the surging demand for various consumer
goods like eyeglasses and wrist watches is exponentially contributing towards the growth of the
market. The various new applications of the metal and ceramic injection molding is expected to
offer various growth aspects to the market players in the forthcoming years. The growing
demand for the metal and ceramic in the new applications such as electromagnetic, electrical,
and alternative power industry is propelling the market growth. However, the availability of
other eco-friendly alternatives to the metal and ceramic injection molding may hamper the
market growth during the forecast period.
The outbreak of the COVID-19 in 2020 had a negative impact on the market growth. The closure
of almost all the manufacturing units across various industries and the supply chain disruption
owing to the lockdown rules implemented by the government had a negative impact on the
global metal and ceramic injection molding market growth.
Report Scope of the Metal and Ceramic Injection Molding Market
Market Size by 2032 USD 9 Billion
Base Year 2022
Segments Covered Type, End User, Distribution Channel, G
Advanced Materials Technologies Pte.

Company, CN Innovations Holdings Lt
Companies Mentioned Co., ARC Group Worldwide, Inc., Kine
Technologies, PSM Industries, Nippon
Furnace Company
By Type Insights
The global metal and ceramic injection molding market was dominated by the stainless steel
segment in 2022. The extensive demand for the stainless steel molded products in the various
industries such as automotive, general industries, and aerospace industries have significantly
boosted the demand for the stainless steel segment. Moreover, the easy availability of high
quality stainless steel and its durability, higher strength, flexibility, and rust resistant properties of
the stainless steel has fostered the demand among the end use industries.
On the other hand, the alumina products are estimated to be the fastest-growing segment during
the forecast period. The light-weight, durability, strength, flexibility, low cost, and low
machinability are the major factors that drive the demand for the alumina products in the
electronics and automotive industries. The surging demand for the alumina products in the
automotive industry is expected to drive the growth of this segment.
End User Insights
The automotive segment dominated the global metal and ceramic injection molding market in
2020. The massive growth of the automotive industry in the past decades has fueled the growth
of the metal and ceramic injection molding market. There is huge demand for the injection
molded miniature products in the automotive industry. The complex engine components, locking
mechanisms, and electronic systems are made using the metal and ceramic injection molding
products, which has significantly contributed towards the growth of this segment in the past few
years.
The medial equipment is estimated to be the fastest-growing segment during the forecast period.
The growing number of patients owing to the surging prevalence of various chronic diseases
across the globe is exponentially driving the growth of the metal and ceramic injection molding
market owing to its growing demand for the production of numerous medical equipment.
 In April 2018, Hoganas AB introduced the development of new product area to meet the
rising demand for the metal injection molding within additive manufacturing.
 In 2018, Hoganas completed the acquisition of H.C. Starck Technology Surface and
Ceramic Powder and Metasphere Technology. This acquisition aimed at strengthening the
market position of Sweden-based companyHoganas.
The metal and ceramic injection molding market is highly fragmented with the presence of
numerous top market players. These market players are investing heavily in the value-added
services to gain competitive advantage and gain market share. Furthermore, these market players
are engaging in various developmental strategies such as product launches, partnerships, joint
ventures, and mergers to exploit the prevailing market opportunities.
Some of the prominent players in the global metal and ceramic injection molding market
include:
 Advanced Materials Technologies Pte. Ltd.
 Form Technologies Company
 CN Innovations Holdings Ltd.
 Akron Porcelain & Plastics Co.
 ARC Group Worldwide, Inc.
 Kinetics Climax Inc.
 CMG Technologies
 PSM Industries
 Nippon Piston Ring Co Ltd.
 Abbot Furnace Company
By Type
 Iron & Steel
 Stainless Steel
 Copper
 Alumina Products
 Zirconia
 Others
By End User
 Aerospace
 Automotive
 Medical Equipment
 Consumer Goods
 Electronics
 Others
By Distribution Channel
 Online Stores
 Offline Stores
By Geography
 North America
o U.S.
o Canada
 Europe
o U.K.
o Germany
o France
 Asia-Pacific
o China
o India
o Japan
o South Korea
o Malaysia
o Philippines
 Latin America
o Brazil

o GCC
o North Africa
o South Africa

What is the current size of metal and ceramic injection molding market?
According to Precedence Research, the global metal and ceramic injection molding market size
was estimated at US$ 4 billion in 2022 and is anticipated to reach US$ 9 billion by 2032.
Metal Additive Manufacturing Market (By Type: Selective Laser Melting (SLM), Electron
Beam Melting (EBM), Powder Bed Fusion, Sheet Lamination, Directed Energy Deposition,
Binder Jetting; By Application: Automotive Industry, Aerospace Industry, Healthcare &
Dental Industry, Tools and Mold, Academic Institutions, Others) - Global Industry
Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023 – 2032
The global metal additive manufacturing market size was valued at US$ 2.90 billion in
2022 and it is expected to reach around USD 14.99 billion by 2032 and growing at a CAGR
of 17.90% from 2023 to 2032.
Statistics
The increased use of new products and adoption of metal additive manufacturing technologies in
various industries like the aerospace industry healthcare and dental industry, automotive industry,
academic industry are the reasons why the market is growing. This metal which is formed is in
continuous motion on a conveyor belt. Various benefits are offered by the metal additive
manufacturing over the traditional metalworking methods. There are many different types of
technologies which are used in the metal additive manufacturing systems. Most of these
technologies are available for use today.
The global pandemic had a negative impact on the market. Due to various restrictions and
lockdown of most industries the market was down. There was a massive decline in the
construction, aerospace and automotive sectors due to this pandemic. Due to the delayed
logistical solutions and disrupted supply chains there were massive disruptions in the
manufacturing and transportation which had a great impact on the market growth. Furthermore
the lack of competent labor in combination with the long term plant shutdowns hampers the
market. There was a severe shortage of raw materials as the pandemic progressed.
Growth Factors
Due to an increase in the demand for consumer electronics the market is expected to grow. The
objects in the additive manufacturing are developed layer by layer which are extremely thin and
which happens to make the manufacturing of these products stable and extremely lightweight.
There's an increasing demand for these wearable devices. As an increasing demand and the
growing interest in consumer electronics, smart wearable devices, video game consoles,
smartphones and mixed reality devices the demand for the additive manufacturing solutions is
expected to grow during the forecast period.
One of the industry leaders Phone Skope Used a photo centric additive manufacturing system to
produce custom molded adapters. According to the consumer technology association there shall
be an increase in the revenue of the retail sales for EU S tech industry the demand for appliances
and consumer electronics is also expected to grow in the future. Due to an increasing demand for
electronics the hardware production has also increased. Due to an increased demand of
electronics in India the demand for hardware is estimated to reach dollars 400 billion. There's an
increase in the demand for consumer electronics in many countries like India as well as US. Due
to the usage of 3D printing technologies to develop improved methods which are new for the
market and integration for the ultra accurate production of new high performance electronic
devices is also expected to drive the market growth.
Nano dimension collaborated with Fraunhofer institute for manufacturing engineering and
automation and this collaboration will work to investigate and produce innovative freeform 3D
printing and gathering procedures for the production of electromechanical systems. The metal
additive manufacturing technologies are critical drivers for the innovation for various businesses.
These Technologies are not only extremely ideal for building bespoke components but also for
rapid prototyping. It is also used in the formation of various geometrical figures which are
extremely difficult or impossible to construct with the help of the conventional technologies.
The metal power bed fusion technology is largely used in the present times for additively
manufacturing high performance components. in case of the metal additive manufacturing the
cost of entry is less. Affordable industrial quality printers are the common materials used.
Prototyping is easier as it does not consume a lot of time. The expense of the additive
manufacturing prototype is comparatively cheap. Julie there is a requirement for a mold in order
to manufacture about thousands of products of a single kind. But with the use of this technology
it will be done in a lesser amount of time. Additive manufacturing market small batch
manufacturers gain a lot. Traditional manufacturing processes usually have a warehouse stacked
with a lot of parts which one needed for replacements. But the additive manufacturing
technology has a virtual inventory.
The information is stored in the cloud throughout the lifecycle of the product and it can be
printed on demand. Therefore it helps in removing the space needed for warehouses, personnel
and the space needed for obsolete parts extremely easy to recreate and optimize the legacy parts
required in any industry. Previously if the machines that manufactured a certain part stopped
functioning there would be a loss of customer trust. This will hamper the sales and loyalty of the
consumers. This is not the case with the use of additive manufacturing. This technology will help
in recreating it in a 3D printer. Design engineers have started using artificial intelligence driven
generative design for creating new products. By setting the constraints many suggestions can be
drawn by the systems which will be able to meet the requirements. The desires then need to
select the perfect design and produce the shapes.
Report Scope of the Metal Additive Manufacturing Market
Fastest Growing Region Asia Pacific
Base Year 2022
Segments Covered Type, Application, Geography
EOS GmbH, BeAM Machines, Wuhan

Companies Mentioned Solutions, 3D Systems, Trumpf, Renish
Metal, Farsoon Technologies, Bright La
Types Insights
On the basis of the types the selective laser melting segment is expected to grow well during the
forecast period. Selective laser melting is a manufacturing technology that makes use of laser to
fuse the powdered materials into various 3 dimensional objects. Only the top layer it's printed by
the SLA prints. the top layer is off powder adhered to its platform which provides minimal
support if necessary. This procedure can also be done with the help of metal powders and raisins
contrary to the traditional plastic filament. Selective laser melting is a good process which helps
in creating high resolution and low volume parts. This method is extensively used in prototyping
and production applications.
Apart from the selective laser melting segment the electron beam melting segment is also
expected to grow well during the forecast period. This is another type of additive manufacturing
process where the metal powder bed fusion process takes place. The electron beam melts the
material with the support of high energy electrons which provide penetration depth in order to
melt the deepest layers at a single shot.
The automotive industry is the application segment which is expected to show the largest market
growth during the forecast period. The metal additive manufacturing is used in automotive
industry to manufacture parts, components and prototypes. These prototypes should be strong
enough for testing purposes. This is extremely helpful in reducing the overall time required for
manufacturing and building of the cars as well as the vehicles and it is extremely helpful as it
provides superior quality products when compared with the other conventional manufacturing
methods used for building cars.
The aerospace industry also has several uses of metal additive manufacturing. The most common
use of metal additive manufacturing is to produce the components that can be useful for the
aircraft or the spacecraft. The additive manufacturing process does not need any tooling or
equipment and hence it is the most effective solution for making complex shapes at a minimal
cost. Another important use of metal additive manufacturing in the aerospace industry is the
replacing of the broken parts which could be an expensive affair. In case there is a requirement
for replacement of the parts they can be easily made through the metal additive manufacturing
processes which help in saving the time as it has faster production capabilities compared to other
ways.
Metal additive manufacturing is also used in the dental industry and the healthcare industry. They
are used to create customized implants. The production is done by the usage of metal powder
which is obtained from different technologies like SLM and EBM. There is a micro structural
control over all elements which are used for creation and designing of implant. The roughness
and the geometry of the implant surface is maintained due to the event dispersion of particles.
This technology one by one by makes it possible to provide a better fit for patients by reducing
increased friction at the hip joints and provides better performance after the surgeries.
Regional Insights
The North American market is expected to hold the largest market share during the forecast
period. Followed by the North American market the Latin American market is also expected to
be the fastest growing market for the global metal additive manufacturing. The Asia Pacific
market is estimated to have the significant growth in terms of revenue. Due to the increased
industrialization and increasing demand for the automotive industries in countries like Japan,
China, India and South Korea the market is expected to grow.
The third largest market for the global metal additive manufacturing is the European market.
Some economics could prove to be extremely beneficial for the growth of the international metal
additive manufacturing market. It includes Italy, UK, Germany, Japan China and the US.
Adoption of metal additive manufacturing is growing in many developing as well as the
developed nations in a large range of industries across these countries including the military.
There are good amount of growth opportunities which could increase the market in these various
developed as well as the developing nations which will help in providing a boost for this market.
Key Market Players
 EOS GmbH
 BeAM Machines
 Wuhan Huake 3D
 GE Additive
 SLM Solutions
 3D Systems
 Trumpf
 Renishaw
 DMG Mori
 Sisma
 Xact Metal
 Farsoon Technologies
 Bright Laser Technologies
Recent Developments
The major collaboration between JAWS Spitfire and VELO3D is expected to encourage
VELO3D’s position as a trusted partner for other industries who are seeking novel
manufacturing options for producing complex designs which prove to be a great challenge for
the industry. After the success of the merger which is agreed on, it is estimated to take place in
the later half of 2021. The merged industry will function under the name of VELO3D, and it will
be listed on the New York Stock Exchange (NYSE) under the new ticker symbol of “VLD.”
Markforged’s Metal X is billed as an “end-to-end solution” for the complex metal parts.
A system which is developed by 3DEO, that promises to be unique, is a dubbed Intelligent
Layering, begins with six different steps to grant these high quality parts at a rate that is
competitive with CNC machining and metal injection molding (MIM) at
manufacturing numbers. The system supplies a premium surface quality and tolerances than any
other metal AM process in the market.
Segments covered in the report
interested)
By Type
 Selective Laser Melting (SLM)
 Electron Beam Melting (EBM)
 Powder Bed Fusion
 Sheet Lamination
 Directed Energy Deposition
 Binder Jetting
By Application
 Automotive Industry
 Aerospace Industry
 Healthcare & Dental Industry
 Tools and Mold
 Academic Institutions
 Others
By Geography
 North America
o U.S.
o Canada
 Europe
o U.K.
o Germany
o France
 Asia-Pacific
o China
o India
o Japan
o South Korea
o Malaysia
o Philippines
 Latin America
o Brazil

o GCC
o North Africa
o South Africa

What is the current size of metal additive manufacturing market?
The global metal additive manufacturing market size was reached at US$ 2.90 billion in 2022
and it is anticipated to rake around USD 14.99 billion by 2032.
Metal Casting Market (By Material: Iron, Steel, Aluminum, Others; By Application:
Automotive & Transportation, Industrial, Building & Construction, Others) - Global
Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2024-2033
The global metal casting market size was exhibited at USD 155.22 billion in 2023 and is
predicted to hit around USD 378.42 billion by 2033, growing at a CAGR of 8.77% from 2024 to
2033.
Statistics
Key Takeaways
 Asia Pacific led the market with the biggest market share of 55.60% in 2023.
 North America is expected to witness the fastest rate of growth in the Metal Casting
market during the forecast period.
 By material, the aluminum segment held the largest segment of the Metal Casting market
in 2023.
 By material, the steel segment is expected to grow at a significant rate during the forecast
period.
 By application, the automotive segment is expected to hold the dominating share of the
market during the forecast period.
 By application, the industrial segment is expected to grow at a notable rate.
Metal Casting Market in the Asia Pacific 2024 to 2033
The Asia Pacific metal casting market size was valued at USD 79.95 billion in 2023 and is
expected to reach around USD 184.97 billion by 2033, growing at a CAGR of 8.80% from 2024
to 2033.
Asia Pacific had the largest market share of 55.60% in 2023 and is maintain its dominant
position from 2024 to 2033. the metal casting market due to robust industrialization, substantial
automotive production, and rapid infrastructure development. The region's manufacturing
prowess, particularly in countries like China and India, has fueled a high demand for metal
castings across various sectors. Moreover, the growing emphasis on lightweight materials in
automotive manufacturing further amplifies the significance of metal casting processes. The
expanding industrial base, coupled with increasing investments in infrastructure, positions Asia-
Pacific as a key player in the global metal casting market.
Europe is poised for rapid growth in the metal casting market, fueled by advancements in
technology and increasing demand for lightweight materials.
 Europe has a presence of 4,500 metal casting firms, a major share of which are small
businesses with less than 50 employees.
The European automotive sector, a significant consumer of metal castings, emphasizes fuel
efficiency and sustainability, driving the adoption of innovative casting processes. The European
Foundry Industry alone contributes over EUR 40 billion annually. Additionally, initiatives like
the European Green Deal promote sustainable practices, creating opportunities for eco-friendly
casting methods. With a strong industrial base and a focus on environmental responsibility,
Europe is well-positioned for significant expansion in the metal casting market.
Metal Casting Market Overview
Metal casting is a manufacturing technique where molten metal is poured into a prepared mold to
create a specific shape upon solidification. This time-tested process, utilized for centuries, is
adept at crafting a diverse array of metal components, from intricate parts to sizable industrial
elements. The method entails crafting a mold, often composed of sand or other materials, and
then filling it with molten metal. As the metal cools and solidifies, the mold is removed,
unveiling the final product. Metal casting finds widespread application in industries like
automotive, aerospace, and construction due to its cost-effectiveness and efficiency in producing
intricate metal forms at scale.
Metal Casting Data and Statistics
In July 2023, The American Foundry Society (AFS) has initiated a new program, AM for Metal
Casting, to promote the adoption of additive manufacturing in metal casting. This endeavor seeks
to assist metalcasters in integrating additive manufacturing technologies, fostering advancements
in their products and processes for the benefit of the industry.
Growth Factors
 The growth of the metal casting market is closely linked to industrialization trends. As
industries expand globally, there is a rising demand for metal castings across various
sectors, including automotive, aerospace, construction, and machinery.
 Ongoing technological advancements in metal casting processes contribute to the
market's growth. Innovations in casting techniques, materials, and automation enhance
efficiency, reduce production costs, and improve the overall quality of metal castings.
 The automotive industry is a major driver of the metal casting market. As the automotive
sector expands globally, there is an increasing need for complex and lightweight metal
components, which are often produced through casting processes.
 The focus on sustainable practices and environmental regulations is driving the adoption
of eco-friendly casting processes. Metal casting companies that embrace cleaner and
more sustainable methods are likely to experience growth as environmental concerns
become more prominent.
 With the growing trend towards product customization, the metal casting market benefits
from the ability to produce complex and customized components. This demand is
particularly prevalent in industries like AE.
Metal Casting Market Scope
Largest Market Asia-Pacific
Base Year 2023
Segments Covered By Material and By Application

Regions Covered
Metal Casting Market Dynamics

Driver
Infrastructure development boost
 The World Bank estimates that global infrastructure spending is expected to reach
approximately USD 4.2 trillion per year by 2030, indicating a substantial demand for
metal castings in construction projects.
Infrastructure development serves as a potent catalyst for the surge in market demand for the
metal casting industry. As nations globally embark on ambitious infrastructure projects, the
demand for diverse and specialized metal components escalates. Metal casting plays a pivotal
role in providing essential parts for infrastructure projects such as bridges, pipelines, and power
plants. The versatility of metal casting processes allows for the production of intricate and
custom components that meet the stringent requirements of modern infrastructure.
The projected trillions of dollars in global infrastructure spending over the coming years, as
estimated by the World Bank, underline the pivotal role of metal casting in shaping the future of
construction and development. The reliability, durability, and scalability of metal casting make it
an indispensable solution for the intricate and robust metal components essential to the success
of large-scale infrastructure initiatives worldwide.
Restraint
Global supply chain disruptions
Global supply chain disruptions act as significant obstacles for the metal casting market,
affecting both production and market demand. The metal casting industry heavily relies on a
network of suppliers for crucial raw materials like metals and alloys. When disruptions occur in
the global supply chain, be it due to geopolitical tensions, trade conflicts, or unforeseen events
such as natural disasters, shortages, increased costs, and delays in production become prevalent.
These uncertainties impede the ability of metal casting manufacturers to meet demand efficiently
and in a timely manner. The interconnectedness of the global economy makes metal casting
vulnerable to supply chain fluctuations.
When key raw material sources face interruptions, metal casting companies may experience
challenges in maintaining consistent production levels and meeting contractual obligations.
Consequently, these disruptions can create an atmosphere of uncertainty for consumers and
manufacturers, impacting the overall demand for metal casting products in the market.
Addressing these challenges requires strategic supply chain management, diversification of
suppliers, and contingency planning to mitigate the impact of global disruptions on the metal
casting industry.
Opportunity
Renewable energy targets
 According to a report published by India Brands Equity Foundation, the domestic
automobile production increased by a compound annual growth rate (CAGR) of 2.36%
from 2016 to 2020 with 26.36 million vehicles being manufactured in India in 2020.
The surge in original equipment manufacturers (OEMs) has created significant opportunities for
the metal casting market. With the automotive sector witnessing substantial growth, metal
castings play a crucial role in meeting the increased demand for precision-engineered
components. OEMs rely on metal casting processes to produce a wide range of automotive parts,
including under hood components, engine parts, and interiors. The versatility of metal casting
allows for the creation of intricate and durable components that meet the stringent requirements
of modern vehicles.
The expansion of OEMs into other sectors, such as aerospace and industrial machinery, further
broadens the scope for metal casting applications. As original equipment manufacturers seek
reliable and cost-effective solutions for producing complex components, the metal casting
market stands poised to capitalize on these opportunities by providing essential manufacturing
capabilities that contribute to the overall growth and innovation in various industries.
Material Insights
The aluminum segment dominated the metal casting market in 2023; the segment is
observed to continue the trend throughout the forecast period. Within the metal casting market,
the aluminum segment pertains to utilizing aluminum alloys as the key material for casting
processes. Aluminum's appeal lies in its lightweight properties, strong resistance to corrosion,
and efficient thermal conductivity.
 As per the World Foundry Organization, the production volume of iron casting increased
by 0.8% in 2017 compared to the previous year. It was 156.58 kilotons in 2017.
A noteworthy trend in metal casting involves the rising adoption of aluminum castings,
particularly in the automotive and aerospace sectors. This preference is driven by the desire to
reduce vehicle weight, improve fuel efficiency, and align with sustainable practices. The
aluminum segment, thus, stands out as a favored choice in metal casting, meeting the evolving
demands for lightweight, durable, and environmentally friendly components.
The steel segment is expected to grow at a significant rate throughout the forecast
period. In the metal casting market, the steel segment refers to the production of metal
components using various steel alloys. Steel, known for its strength and versatility, is a preferred
material for manufacturing durable and high-performance castings. A prominent trend in the steel
segment of the metal casting market is the increasing demand for specialized steel alloys, driven
by the automotive and aerospace industries. These alloys offer enhanced properties, such as high
strength-to-weight ratios, meeting the evolving needs of modern manufacturing and contributing
to the overall growth of the metal casting market.
The automotive segment is observed to hold the dominating share of the metal casting
market during the forecast period. In the metal casting market, the automotive segment
pertains to the production of cast metal components used in vehicles. This includes under hood
parts, engine components, interiors, and other critical automotive elements. A notable trend in the
automotive segment of the metal casting market is the increasing demand for lightweight
materials. As automotive manufacturers strive for fuel efficiency, metal casting processes are
crucial in delivering high-strength yet lightweight components, contributing to the overall
performance and sustainability goals of the automotive industry.
The industrial segment is expected to generate a notable revenue share in the market. In the
metal casting market, the industrial segment encompasses the diverse applications of cast metal
components across various industrial sectors. This includes the manufacturing of heavy
machinery, equipment parts, and components for infrastructure projects. A notable trend in the
industrial segment is the growing demand for precision-crafted metal castings to enhance the
efficiency and reliability of industrial machinery. As industries worldwide invest in infrastructure
development and machinery upgrades, the industrial application of metal casting continues to
experience steady growth, driven by the need for durable and specialized components.
Recent Developments
 In November 2022, POSCO declared that its steel plants in Pohang and Gwangyang
received certification for their outstanding contributions to advancing sustainability in the
steel industry. This significant achievement highlights the plants' unwavering dedication
and effective management in promoting Environmental, Social, and Corporate
Governance (ESG) objectives for a more sustainable future.
 In June 2020, Endurance Technologies Limited successfully concluded the acquisition of
Grimeca Srl, an Italian automotive parts manufacturer. Endurance reported securing
complete ownership, acquiring a 100% stake in Grimeca for 2.25 million Euros,
approximately USD 2.45 million, as disclosed in a stock exchange filing.
Metal Casting Market Companies
 Alcoa Corporation
 Thyssenkrupp AG
 Bharat Forge Limited
 Norsk Hydro ASA
 Arconic Inc.
 Nemak
 Kobe Steel, Ltd.
 Georg Fischer AG
 Waupaca Foundry, Inc.
 Precision Castparts Corp. (PCC)
 Endurance Technologies Limited
 American Axle & Manufacturing Holdings, Inc.
 Zynq Foundry
 Aisin Seiki Co., Ltd.
 Bühler AG
By Material
 Iron
 Steel
 Aluminum
 Others
By Application
 Industrial
 Others
By Geography
 North America
 Europe
 Asia-Pacific
 Latin America
How big is the metal casting industry?
The global metal casting market size is expected to increase USD 378.42 billion by 2033 from
USD 155.22 billion in 2023.
Environment Health & Safety Market (By Product: Software, Services; By End use
Industry: Energy and Utilities, Chemicals and Materials, Healthcare, Construction and
Engineering, Food and Beverage, Government and Defense, Others) - Global Industry
Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023 – 2032
The global environment health & safety market size was valued at USD 6.7 billion in
2022 and is expected to hit USD 13.37 billion by 2032, growing with a CAGR of 7.2% over
the forecast period 2023 to 2032.
Statistics
Key Takeaways:
 By product, the services segment has accounted market share of 95.2% in 2022.
 By deployment, the cloud segment has generated market share of 29% in 2022.
 By end-use, the chemicals & petrochemicals segmenthas held market share of 24.6% in
2022. The healthcare segment is likely to grow at a CAGR of 7.4% over the forecast
period.
 North America has captured market share of 37.80% in 2022.
Environment Health & Safety Market in the U.S. 2023 To 2032
The U.S. environment health & safety market size was valued at USD 1.90 billion in 2023 and is
expected to reach USD 3.60 billion by 2032, growing at a CAGR of 7.4% from 2023 to 2032.
North America holds a significant market share for the market and is estimated to dominate the
market during the forecast period. The earliest adoption of advanced technologies and safety
solutionin the U.S. and Canada is the major factor that boosts the market growth in this region.
Moreover, the presence of the major market players in this region is yet another attribute that is
expected to drive the growth of the Environment Health & Safety market.
Asia Pacific region is expected to witness the highest growth during the forecast period owing to
the presence of flourishing economies such as India, China, Japan, Singapore and South Korea.
China is expected to contribute the largest market in this region owing to its rapid industrial
development and the Government regulations to follow the stringent safety regulations.
The presence of strict rules and regulation for maintaining Environment Health & Safety
standards in the European region will drive the market growth in this region. For instance,
Ideagen a UK based global technology company is planning an acquisition strategy to expand its
business in UK and all over the world. The expansion of the company will be funded by
Santander UK and NatWest. At present, Ideagen has its presence in 150 countries and on
receiving the additional financial support it is planning to capture the markets all over the
world.Also, the presence of various agencies such as The European Agency for Safety and
Health at Work (EU-OSHA) and the Environment Agency (EA) constantly monitoring the health
and safety standards will influence the growth of the Environment Health & Safety market.
Growth Factors
The ability of the environment health and safety services and software to help the companies in
efficiently managing the wastes produced will fuel the market growth. Additionally, the
popularity and the environment health and safety mobile application are rapidly increasing and
this is expected to drive the growth of the environment health and safety market.
The presence of strict rule and regulations related to the protection of environment and
occupational health and safety has led to the surge in the demand for the environment health &
safety services that help in monitoring various services such as water conservation, waste
management, employee safety, monitoring, emission control and many others.
In the past decade, there has been a massive increase in demand for the environment health and
safety software by diverse end user industry verticals such as chemicals and materials,
healthcare, construction, energy and utilities and engineering. For instance, On 30th September
2021, Quentic announced that it has strengthened the application for hazardous chemical
management. The online solution for integrated HSEQ management has expanded inspection
rules for hazardous good groupings to include independently configurable storage classes.
Moreover, the rise in number of accidents in the mining, oil and gas, and chemical plants is the
factor that is driving the demand for the use of environment health and safety systems.
Also, the increasing awareness about the environment health and safety are motivating the
organization to deploy these systems. Additionally, the cost effective pay-as-you-go pricing
model is significantly impacting the enterprises to implement the environment health and safety
systems at their workplaces. All these attributes are anticipated to fuel the growth of the
environment health and safety market.
Environment Health and Safety Market Scope
Base Year 2022
Segments Mentioned Product, End Use, Region
VelocityEHS, Enablon, Intelex, Cority, Gensuite, Sph

SAI Global, Quentic, UL, Alcumus, SHE Software,
Companies Covered
VisiumKMS, Ideagen, EcoOnline, ETQ, Dakota Sof
ProcessMap, SafetyCulture
Product Insights
Based on the products, the services segment is expected to lead the market with the highest
market share owing to the increasing penetration of the safety systems in the mining and energy
industry. Some of the services provided by the Environment Health & Safety systems include
waste management, water quality, compliance program development and implementation,
process safety evaluations and management and EHS consulting services. The services furnished
help the mining industry by providing the regulatory and technical advice during the process of
drilling and exploration. Additionally, they also provide information that will help in improving
the exploration process and produce better results with low environmental effect. Furthermore,
the Environment Health & Safety systems help the companies in the discharge of their industrial
and radioactive wastes.
The service segment offers a wide range of services such as compliance management, chemical
management, training management, incident management, audit and inspection, management
change, water quality, waste compliance, safety meetings, performance metrics, risk analysis, air
emission measurement, ergonomics, and corrective actions. Also, to meet the specific
requirements of the clients the services providers offer customized software solutions to their
clients as per requirement.
End-Use Insights
Based on the end-use Industry, the manufacturing industry is anticipated to witness highest
market share growing at a CAGR of 6.2% during the forecast period owing to the increasing
demand for the utility systems, data centers, cybersecurity systems, industrial water, and
wastewater treatment plants, and solid waste landfills. Also, in the developing economies the
manufacturingindustry grows at a significant rate and this factor is expected to drive the growth
of the market.
In the construction sector, the environment health & safety system guides the
constructioncompanies in designing energy-efficient building models, maximizing and
integrating local microclimates effectively, upgrading outdated building systems and reducing
the waste generated.
In the healthcare sector, in order to supervise facilities and laboratories, to ensure the safety of
the workers from biohazards the Environment Health & Safety systems are deployed. They
provide services such as hospital risk assessment, regulatory training, medical waste
management, compliance and safety assessment.This attributesare expected to fuel the market
growth.
Environment Health & Safety Market Players
The global Environment Health & Safety Marketis characterized by the presence of various
small and big players. The major market player includes VelocityEHS, Enablon, Intelex, Cority,
Gensuite, Sphera, SAI Global, Quentic, UL, Alcumus, SHE Software, VisiumKMS, Ideagen,
EcoOnline, ETQ, Dakota Software, ProcessMap, SafetyCulture, ProntoForms, Verisk 3E,
Enhesa, SAP, IsoMetrix, SHEQX, Pro-Sapien, SafeSite and ComplianceQuest Inc. As the market
is competitive in nature, the players are indulged in rapid adoption of advanced technologies to
improve the safety measures and in raising their competitive share by means of strategic
initiatives like mergers, new product and acquisitions.
By Product
 Software
 Services
o Analytics
o Project Deployment and Implementation
o Business Consulting and Advisory
o Audit, Assessment and Regulatory Compliance
o Certification
o Training and support
By End Use
 Energy and Utilities
 Chemicals and Materials
 Healthcare
 Construction and Engineering
 Food and Beverage
 Government and Defence
 Others (Telecom and IT, Automotive, and Retail)
By Geography
 North America
o U.S.
o Canada
o Mexico
 Europe
o U.K.
o Germany
o France
o Russia
o Italy
o Spain
o Rest of Europe
 Asia Pacific
o China
o India
o Japan
o South Korea
o Rest of Asia-Pacific
 LAMEA
o Latin America
o Middle East
o Africa

What is the current size of environment health & safety market?
The global environment health & safety market size was reached at US$D 6.7 billion in 2022
and is projected to hit USD 13.37 billion by 2032.
Environmental Technology Market (By Components: Services, Solutions; By Technology:
IoT, Artificial intelligence, Cloud computing, Block chain, Others; By Application: Air and
water pollution monitoring, Water purification, Crop monitoring, Management of carbon
footprints, Waste management, Others; By Vertical: Residential/municipal, Industrial
transportation & logistics) - Global Industry Analysis, Size, Share, Growth, Trends,
Regional Outlook, and Forecast 2023 – 2032
The global environmental technology market was valued at USD 575 billion in 2022 and it
is expected to hit USD 880 billion by 2032, growing at a compound annual growth rate
(CAGR) of 4.40% from 2023 to 2032.
Statistics
Environmental Technology Market in U.S. 2023 To 2032
The global environmental technology market was reached at USD 127.65 billion in 2022 and it is
projected to touch USD 195.40 billion by 2032, at a CAGR) of 4.40% between 2023 to 2032.
Previously, North America had the largest market size for green technology. It was majorly
because there are many vendors in that region.
There's a growing demand in Asia Pacific for wastewater management and treatment. The
environmental technology market is projected to grow a lot in this region. Asia Pacific is
expected to grow at a CAGR of 6%, during 2022 and 2030 Asia Pacific will be a favorable
market for all the investments for the future owing to countries such as India, China, Singapore,
etc.
Growth Factors
Environmental technology, which is also known as the clean or green technology, which refers to
the development of new technologies that aim to monitor, conserve and reduce the negative
effect of technology on the environment and the usage of resources. The growth factors of the
environmental technology are mainly the less usage of energy to do things, and that is driving the
market. The LED lights that we use are 60% efficient than the old bulbs. They also have a larger
Lifespan. The production of energy has become cleaner and easier without harming the
environment. A+++ rated refrigerator are consuming very less electricity by using the natural
resources like the wind, water and sun. We are creating green resources for ourselves. The
segmental technology has helped in cleaning of the waters that were polluted. Solar power is
extremely cheap as compared to the Regular electricity.
A world full of opportunities has been opened up by the solar cells. The modern agricultural
methods which are used for farming are able to yield 10 times more than the past with the same
amount of effort. Since the yielding capacity of the farms has increased we don't need a lot of
land for cultivation the newer technology of growing meat in the labs. Is far easier and doesn't
occupy a lot of space on the land. It also happens to be more nutritious. The cultivation of this
myth can be made in a manner needed for an individual depending upon the nutritional value.
This method shall surely help in freeing big patches of land that are used for the habitat of these
animals.
The technology that helps in recycling our waste the humans will be able to recycle majority of
the materials that we use in our daily life. Recycling or waste will be a boon for the environment.
Cities are believed to be the major hubs for pollution but recently, with the help of technology. A
lot of toxic pollutants have been stopped from entering the atmosphere with the help of a
catalytic converter which is used in many of the cars. A shift to the electric vehicles from the
petrol and diesel ones has also removed a very big percentage of emissions from entering the city
surroundings as the days and years are passing by.
Humans understand the negative impact of their activities that have polluted the environment to a
great extent. These new technologies are helping in combating the bad effects of such facilities.
The depletion of the ozone layer due to the CFC has also been cut down due to this incredible
green technology. The worst ridesharing options have helped in reducing the pollution and
destruction of fuel.
Report Scope of the Environmental Technology Market
Base Year 2022
Segments Covered Components, Technology, Application,
AECOM, Lennox International, Teledy

Companies Mentioned Thermo Fisher Scientific Inc, Abetmen
connections, Biffa, Svante Inc, Carbon
Component Insights
The components segment is made up of solutions and services. The solution segment has a larger
market share in the future. The continuous degradation of environment has led to an increase in
innovations and developments to repair the damage. The research and developments in the green
energy have created sustainable development for the environment. The production and uses of
solar and wind energy, desalinization of water, usage of electric vehicles and pyrolysis are green
innovations. Rain barrels, Smart thermostats, solar panels, recycling bins and smart power strips
are all good innovations and solutions.
Various companies provide assistance or consultancy in the project needed to be installed. They
also help in. Building the project or building the design of the project, including the production,
installation and maintenance. Services as to the maintenance of the facility are done by
experienced technicians.
Technology Insights
IoT helps in monitoring the environment. It helps in understanding the extreme weather
conditions, water safety, and endangered species helps in commercial farming and more. The
sensors that are fitted are able to understand the changes and report the same. Artificial
intelligence and analytics is also widely used. in order to have an easy access to energy grids,
various startups are using the blockchain technology. Cloud computing is yet another technology
used in green energies.
Sustainable development is the reason why the green technologies are adopted. It has various
applications in different aspects. It helps in purification and waste management. Such as
pyrolysis, thermal depolymerization, desalinization etc. In order to have pollution free and clean
water in the environment water purification is adopted. Solid waste management is another field
that is taken care of by green technology. Crop and weather monitoring is another application of
environmental technology. Carbon Footprint management also helps in detecting and eliminating
the carbon footprints.
 The industrial segment was valued at USD 547 billion in 2021 and will reach at around
USD 685 billion by 2030.
 Based on technological solutions, the greentech/renewable energy segment dominated the
market in 2021 and it is projected to hit USD 220 billion by 2030, at a CAGR of 5% from
2022 to 2030.
Recent Developments
Ever since US President Joe Biden has taken the office, he has stated that they are going to
strongly pursue the green agenda. Apart from US, all the other nations across the globe are
focusing on green technology. Carbon capture will be the new technology which will involve
catching the carbon at the source and then storing it for further use. The global heating is due to
carbon dioxide and this is one solution for it. A huge carbon capture project is ready to be set up
in Yorkshire and Humber region in UK. A porous rock which is injected with carbon dioxide
under the seabed is used for storage. Carbon capture will be a boon to combat the global
warming. Do engineering involves radiation management and carbon dioxide removal. These
projects shall be risky as well as expensive, but they could provide a breakthrough. In U.S. 200
hydrogen filling stations will be active by the year 2025. One of the most recent developments in
environmental technology is the floating solar panels. It is widely being tested in China,
Southeast Asia and Japan. UNESCAP has set a goal of net zero emissions and the target should
be met by 2050. Asia Pacific is going to be largest consumer of electric buses many countries are
planning to change the previously used lighting for headlights, streetlights and more to LED
lighting offshore wind turbines is going to reduce the reliance on traditional energy sources.
Various shipping companies in Asia Pacific are planning to switch to electric vehicles in order to
reduce their carbon footprints. The (CCS) Carbon capture and storage system is a technology that
will be able to trap the carbon at the site and be able to store it at various facilities. The storage
facility is in the form of rocks below the Earth’s surface.
Key Market Players
 AECOM
 Lennox International
 Teledyne Technologies Incorporated
 Thermo Fisher Scientific Inc
 Abetment Technologies
 Waste connections
 Biffa
 Svante Inc
 Carbon Clean
Segments covered in the report
interested)
By Components
 Services
 Solutions
By Technology
 IoT
 Artificial intelligence
 Cloud computing
 Block chain
 Others
By Application
 Air and water pollution monitoring.
 Water purification
 Crop monitoring
 Management of carbon footprints
 Waste management
 Others
By Vertical
 Residential/municipal
 Industrial transportation & logistics
o Power, energy & utilities
o Manufacturing
o Retail & consumer goods
o Construction & building materials
o Government & defense
o Oil & gas
o Others (law enforcement, healthcare & life sciences)
By Geography
 North America
o U.S.
o Canada
 Europe
o U.K.
o Germany
o France
 Asia-Pacific
o China
o India
o Japan
o South Korea
o Malaysia
o Philippines
 Latin America
o Brazil

o GCC
o North Africa
o South Africa

What is the current size of environmental technology market?
The global environmental technology market size was reached at USD 553 billion in 2021 and it
is anticipated to rake around USD 690.3 billion by 2030.
Intelligent Transportation System Market (By Type: ATIS, ATPS, ATMS, EMS, and APTS;
By Application: Road Safety & Security, Traffic Management, Public Transport, Freight
Management, Environment Protection, Parking Management, Automotive Telematics,
Road Tolling Systems) - Global Industry Analysis, Size, Share, Growth, Trends Analysis,
Regional Outlook and Forecasts, 2023 - 2032
The global intelligent transportation system (ITS) market size surpassed USD 34 billion in
2022 and is projected to hit around USD 65.33 Bn by 2032, expanding at a CAGR of 6.80%
during the forecast period from 2023 to 2032. The Asia Pacific intelligent transportation
system market size was estimated at USD 21.6 billion in 2022.
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Key Takeaways
 North America has accounted market share of around 36% in 2022.
 By Mode of Transportation, the roadway segment accounted for the largest market share
of arouund 48% in 2022.
 The maritime segment is expected to grow at a CAGR of 9.9% over the forecast period
2023 to 2032.
 By Roadway Offering, the hardware segment has accounted market share of 46% in
2022. However, the services segment is expected to grow at a CAGR of 8.3%.
 By Roadway System Type, the Advanced Traffic Management System (ATMS) segment
has captured market share of 31% in 2022. However, the Advanced Public Transportation
System (APTS) segment is poised to grow at a CAGR of 8.8%.
 By Roadway Application, the traffic management segment has generated market share of
31% in 2022. However, the automotive telematics segment is expected to grow at a
CAGR of 8.8% from 2023 to 2032.
 By Railway Offering, the hardware segment has held market share of around 45.6% in
2022. The services segment is expanding at a CAGR of 9.2% over the forecast period
2023 to 2032.
 By Railway System Type, the ATMS segment has accounted garnered market share of
27% in 2022. The APTS segment is poised to hit at a CAGR of 9.8% through 2032.
 By Railway Application, the rail-running operation and collision avoidance segment has
accounted market share of 26.5% in 2022. The smart ticketing segment is expected to
reach at a CAGR of 9.6% from 2023 to 2032.
 By Airway Offering, the hardware segment has accounted market share of over 43% in
2022. The services segment is predicted to grow at a CAGR of 11.5% over the forecast
period.
 By Airway System Type, the ATMS segment has accounted market share of 31% in 2022.
The Advanced Traveler Information System (ATIS) segment is poised to grow at a
CAGR of 11.5% through 2032.
 By Airway Application, the aircraft traffic management segment has captured market
share of 24.6% in 2022. The traveler information management segment is expected to
grow at a CAGR of 11.4% from 2023 to 2032.
 By Maritime Offering, the hardware segment has captured revenue share of around 43%
in 2022. The services segment is poised to grow at a CAGR of 10.9% over the forecast
period.
 By Maritime System Type, the ATMS segment has accounted market share of 25% in
2022. The ATIS segment is poised to witness growth at a CAGR of 11.4% through 2032.
 By Maritime Application, the emergency notification segment has held market share of
24% in 2022. The container movement scheduling segment is expected to reach at a
CAGR of 11.2% from 2023 to 2032.
Intelligent Transportation System Market Size in the U.S. 2023 To 2032
The U.S. intelligent transportation system (ITS) market size reached USD 29.69 billion in 2022
and is expected to be worth around USD 13.90 Bn by 2032, growing at a CAGR of 6.80% from
2023 to 2032.
North America is the front-runner in the global intelligent transportation system market
capturing nearly 43% of the total market revenue share in year 2022. This is mainly
attributed to the significant investment done by the government in the region on research and
development. Advancement in communication technology in the U.S. expected to boost the
revolution in the transportation industry. Technologies such as advanced driver assistance,
adaptive cruise control, parking management, advanced vehicle tracking system, and many
others are facilitating drivers, freight operators, transit passengers, and transport authorities for
communication between two vehicles.
However, continuous development in the communication sector along with rapid expansion in
the transportation sector anticipated to flourish the market growth for intelligent transportation
systems in the Asia Pacific region. China, Japan, India, and South Africa are some of the notable
countries where intelligent transportation system adoption rate is very fast.
Growth Factors
Increasing adoption of smart transport systems in order to reduce traffic congestion along with
favorable government initiatives that support intelligent transport infrastructure cater the growth
global intelligent transportation system market. In addition, the rising necessity for obtaining
real-time information for improving the traffic management system by sharing required data with
drivers and passengers also aid the growth of the ITS market.
Meanwhile, the ageing infrastructure, increasing number of vehicles on road, lack of proper
traffic management system are some of the factors that contribute to the spontaneous growth of
the market. A need to update the traffic management system has led to the rapid adoption of
alternative technologies for managing traffic. Advanced and innovative data analytics
technologies help transportation authorities to monitoring the rising traffic issue. This also helps
in speedy response to emergencies and accidents with higher efficiency.
The sudden outbreak of COVID-19 has badly impacted several industries including automobile
and transportation business too. This has slowed down the rate of automobile production.
Further, by the preventive measures adopted by the government of various nations for controlling
the spread of the deadly virus public transportation sector have suffered a lot. Thus, the rate of
intelligent transportation system estimated to exhibit a decelerating rate during the COVID-19
times.
Intelligent Transportation System Market Scope
Base Year 2022
Forecast Year 2023 to 2032
Segments Covered Type, Application
Regional Scope North America, Europe, Asia Pacific, Rest of the Wo
Lanner Electronics, Hitachi Ltd., Kapsch TrafficCom

Denso Corporation, TomTom International BV, Siem
Companies Mentioned
AG, Garmin International, Clever Devices Ltd., Nua
Communications
Type Insights
Advanced Traffic Management System (ATMS) captured majority of market share nearly
33% in the year 2022. This is mainly because ATMS helps in detecting roadway hazards,
dangerous weather condition, picturizes a complete integrated view of the traffic, and accidents.
This allows speedy flow of the traffic. Additionally, ATMS also controls the traffic signals that
contribute significantly in the congestion and also reduce the travelling time for passengers and
drivers.
On the other hand, Advanced Public Transportation System (APTS) anticipated to exhibit the
fastest growth over the projected timeframe. Some of the prime factors contributing towards the
flourishing growth of the segment are enhanced visibility, rising number of passengers in public
transports, increasing investment in real-time security and information system in order to provide
real-time status to the drivers.
Traffic management segment captured the largest revenue share of the global intelligent
transportation system market around 34% in the year 2022. This is mainly attributed to the
benefits offered by the application. Traffic management systems comprises of bridge traffic
management systems, vehicle detection system, and ramp metering systems among others.
Increasing traffic congestion impact adversely on the development and socio-economic growth
of a nation as it resulted in higher fuel consumption, more traffic time, and monetary losses.
Henceforth, traffic management systems help governments to reduce financial burden.
On the other hand, automotive telematics anticipated to grow at the highest rate during the
upcoming years owing to various regulations pertaining to security and safety of vehicle as well
as passengers. Telematics tracking systems include activating and accessing of remote vehicles
using radio frequency identification.
Moreover, a surge in the road traffic has significantly triggered the demand for parking
management systems. Advanced parking management solution reduces the wastage of time as
well as provides high convenience for vehicle owner. Further, the rapid transformation in the city
life culture and increasing importance of smart city expected to propel the acceptance of parking
management solutions.
Intelligent Transportation System Market is consolidated because of the presence of some major
market players such as Hitachi Ltd., Siemens AG, Kapsch TrafficCom, and Lanner Electronics
among others. These companies are benefited by their diverse product offering and technological
advancement in the intelligent transportation systems industry that help them to capture large
customer base. In addition, these companies invest significantly in their product enhancement
and regional expansion to gain a competitive edge on the global level.
Some of the prominent players in the Intelligent Transportation System Market include:
 Lanner Electronics
 Hitachi Ltd.
 Kapsch TrafficCom
 Denso Corporation
 TomTom International BV
 Siemens AG
 Garmin International
 Clever Devices Ltd.
 Nuance Communications
 Lanner Electronics
 Thales Group
This report forecasts revenue growth at global, regional, and country levels and provides an
analysis of the latest industry trends in each of the sub-segments from 2020 to 2032. For the
purpose of this study, Precedence Research has segmented the global Intelligent Transportation
System Market report on the basis of type, application, and region:
By Mode of Transportation
 Roadway
 Railway
 Airway
By Maritime Roadway Offering,
 Hardware
o Interface Boards
o Sensors
o Surveillance Cameras
o Telecommunication Networks
o Monitoring and Detection Systems
o Others
 Software
o Visualization Software
o Video Detection Management Software
o Transit Management Software
o Others
 Services
o Cloud Services
o Business Services
o Professional Services
By Roadway System Type

 Advanced Traveler Information System (ATIS)
 Advanced Traffic Management System (ATMS)
 Advanced Transportation Pricing System (ATPS)
 Advanced Public Transportation System (APTS)
 Emergency Medical System (EMS)
By Roadway Application
 Traffic Management
 Road Safety and Security
 Freight Management
 Public Transport
 Environment Protection
 Automotive Telematics
 Parking Management
 Road Tolling Systems
 Others
By Railway Offering
 Hardware
o Interface Boards
o Sensors
o Telecommunication
o Networks Monitoring And Detection Systems
o Others
 Software
o Others
 Services
o Cloud Services
o Business Services
By Railway System Type

By Railway Application
 Rail-running Operation and Collision Avoidance
 Passenger Information Management
 Smart Ticketing
 Security Surveillance
 Emergency Notification
 Others
By Airway Offering
 Hardware
o Interface Boards
o Sensors
o Monitoring And Detection Systems

o Others
 Software
o Others
 Services
o Cloud Services
o Business Services
By Airway System Type

By Airway Application
 Security Surveillance
 Shuttle Bus Tracking
 Traveler Information Management
 Aircraft Traffic Management
 Smart Ticketing
 Emergency Notification
 Others
By Maritime Offering
 Hardware
o Interface Boards
o Sensors
o Monitoring And Detection Systems
o Others
 Software
o Others
 Services
o Cloud Services
o Business Services
By Maritime System Type

By Maritime Application
 Freight Arrival & Transit
 Real-time Weather Information Tracking
 Container Movement Scheduling Emergency
 Notification
 Others
Regional Outlook

o North America
 U.S.
 Canada
o Europe
 U.K.
 Germany
 France
o Asia Pacific
 China
 India
 Japan
 South Korea
o Rest of the World

How much is the intelligent transportation system market size?
The global intelligent transportation system market size was valued at USD 34 billion in 2022
and is predicted to be worth around US$ 65.33 Bn by 2032.
Green Hydrogen Market (By Electrolyzer: Proton Exchange Membrane Electrolyzer,

Alkaline Electrolyzer, Solid Oxide Electrolyzer; By End User: Refining, Ammonia,
Methanol, Iron and Steel; By Sources: Solar Energy, Wind Power, and Others) - Global
Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2024 –
2033
The global green hydrogen market size was estimated at USD 6.26 billion in 2023 and is
expected to hit over USD 165.84 billion by 2033, poised to grow at a CAGR of 38.77% from
2024 to 2033.
Statistics
Key Takeaway:
 Asia Pacific region has contributed highest revenue share of over 47.05% in 2023.
 By electrolyzer, the PEM electrolyzer segment has generated revenue share of over
26.33% in 2023. PEM electrolyzers segment is growing at a higher CAGR of 40.8% over
the forecast period.
 By source, the wind segment has captured revenue share of over 47.62% in 2023.
 By End User, refining segment has generated the revenue 41.81% in 2023.
Green Hydrogen Market in the Asia Pacific 2024 To 2033
The Asia Pacific green hydrogen market size accounted for USD 2.95 billion in 2023 and is
estimated to reach around USD 80.74 billion by 2033, growing at a CAGR of 41.1% from
2024 to 2033.
Based on the region, the Asia-Pacific segment dominated the global green hydrogen market in
2023, in terms of revenue and is estimated to sustain its dominance during the forecast period.
China accounts for the largest market share in the Asia-Pacific green hydrogen market. With a
20-million-ton output, China leads the global green hydrogen market, accounting one third of
global production.
 Europe green hydrogen market size was accounted for USD 1,471.6 million in 2023 and
it is growing at a CAGR of 37.9%.
 U.S. green hydrogen market size was reached at USD 931.8 million in 2023 and it is
growing at a CAGR of 38.8%.
 France green hydrogen market was valued at USD 415.7 million in 2023 and it is
growing at a CAGR of 38%.
 Germany green hydrogen market size was estimated at USD 448 million in 2023 and it is
 China green hydrogen market size was valued at USD 959.1 million in 2023 and it is
On the other hand, the Europe segment also held the notable share in market. The hydrogen is the
primary source of energy in Europe. The European Green Deal aims to reduce greenhouse gas
emissions while also preparing Europe’s economy for a climate-neutral future.
Growth Factors
Green hydrogen is hydrogen produced entirely from renewable sources. Green hydrogen emits
much less CO2 than grey hydrogen, which is made by steam reforming natural gas and accounts
for 95% of the market.
The green electricity or power can be converted into a transportation fuel or used as a feedstock
in industrial operations using green hydrogen as a link between them. Green hydrogen and
derived fuels, such as green ammonia, will allow market players to integrate wind energy into a
container ship’s fuel tank. As a result, hydrogen has the potential to considerably increase the
decarbonization potential of renewable energy sources.
Hydrogen produced from renewable sources can be transformed into heat or electricity and used
in a variety of ways for residential energy and electricity supply. As a result, in the case of
weather-related power fluctuations, renewable energies will always be available in sufficient
amount.
At the moment, fossil fuels account for 96% of hydrogen production. The traditional mode of
production emits climate-disrupting carbon dioxide into the atmosphere. On the other hand,
water is electrolyzed into hydrogen and oxygen in the power-to-gas technique.While the
hydrogen is being used, the by-product oxygen can be reused or released into the environment.
Hydrogen is the most abundant element on the planet and offers tremendous promise for
innovation. It can be used as a fuel or source of energy, as well as raw material in manufacturing
industry. Electrolysis technologies are on the verge of becoming profitable, and fuel-cell systems
are already in use. However, in fact for hydrogen from power-to-gas facilities to be successfully
marketed economically, Germany has set to build a technology-open legal environment for the
use of green hydrogen on a large scale.
Due to its ability to cut carbon emissions, green hydrogen has been in great demand in recent
years. It also helps meet the world’s rising needs. Because it is a long-term energy source, its use
is projected to rise. The global green hydrogen market is predicted to develop as people become
more aware of the benefits of using hydrogen as an energy carrier. Furthermore, the industry is
being driven by an increase in environmental concerns, emphasizing the need for clean energy
generation to reduce emissions.
Moreover, the green hydrogen business is growing as the usage of nuclear and green hydrogen
fuels increases. However, the initial investment required to set up hydrogen infrastructure, as
well as prohibitive maintenance costs, are the principal issues limiting the growth of the green
hydrogen market.
Due to the rise in rules and laws favoring green hydrogen in the energy sector, the green
hydrogen market will see a boost in revenue. This is in addition to growing environmental
worries over increased carbon emissions from the use of fossil fuels. Moreover, the growing
number of hydrogen integration projects will expand the global market’s footprint. Furthermore,
the ability to conveniently store green hydrogen and use it at a later period of time will propel the
market growth for green hydrogen during the forecast period.
The green hydrogen is used widely in wind farms. The onshore and offshore wind farms are
common. In comparison to onshore facilities, offshore plants have consistent output throughout
the year. Wind energy costs have dropped by 50% since few decades. This factor has boosted the
acceptance of wind power as a source of green hydrogen. The offshore and onshore wind farms
are now used to generate electricity for green hydrogen production.
The mobility end use industry has the greatest proportion of the green hydrogen market in terms
of value. This is due to the fact that hydrogen has three times the energy per unit as fossil fuels.
The mobility industry had no viable alternatives to fossil fuels before the commercialization of
fuel cell-based engines. However, fuel cell electric vehicles offer a long-term solution. For the
automotive sector, green hydrogen is a realistic and practical option. Green hydrogen-powered
vehicles are ideal for variety of purposes.
Scope of the Green Hydrogen Market
Growth Rate From 2024 to 2033 CAGR of 38.77%
Revenue Projection by 2033 USD 165.84 Billion
Base Year 2023

Segments Covered By Electrolyzer, By Source, and By End User
NEL ASA, ITM Power, ENGIE, SEIMENS, Air Prod

Companies Mentioned Inc., Messer Group GMBH, Plug Power Inc., Cumm
Inc., Air LIQUIDE, LINDE
Market Dynamics
Driver:
Growing government support
Governments play a crucial role in creating supportive policy frameworks and regulations that
provide long-term stability and predictability for the green hydrogen market. Governments
across the globe are focused on setting up renewable energy targets, establishing emission
reduction goals, and implementing carbon pricing mechanisms, all of which incentivize the
demand for green hydrogen. Additionally, regulations that promote the integration of green
hydrogen into existing energy systems, such as blending it with natural gas in pipelines or
supporting fuel cell technology, this element drives market growth.
In January 2022, the Indian Union Cabinet proposed ‘The National Green Hydrogen Mission’
while intending the objective of decarbonizing the nation with the production of clean energy
sources. The government’s strategy aims to make the nation a global leader in the production of
green hydrogen. The mission is projected to develop at least 5 million metric tons of green
hydrogen per annum.
In March 2023, the Canadian Prime Minister and Minister of Finance introduced ‘Made in
Canada Plan’ in the House of Commons. This plan through Budget23, for year 2023 revolves
around the clean energy investment. With the plan, the government stated it supports the
production of clean and green hydrogen in the country.
Rising demand for renewable energy solutions
Renewable energy sources are intermittent in nature, their generation is all dependent on weather
conditions. Energy storage becomes crucial for balancing the intermittent supply and demand.
Green hydrogen can be produced during periods of excess renewable energy generation and
stored for later use. It can be converted back to electricity through fuel cells or used as a
feedstock in industrial processes, providing a reliable energy storage solution and contributing to
grid stability. Many governments, private organizations and regions have set targets along with a
few regulatory policies for transitioning to renewable energy and reducing carbon emissions.
These goals often include a focus on the production of green hydrogen as a key component of
energy transition strategies. The increasing demand for renewable energy to achieve these targets
naturally drives the demand for green hydrogen as a clean energy carrier.
For instance, the European Union has aimed to produce approximately 10 million tons of
renewable hydrogen, ammonia and other clean fuel components by 2030. The commission aims
to improve the hydrogen infrastructure with this strategy.
Restraint:
High cost of production
The primary cost driver in green hydrogen production is electrolyzers, which are used to split
water molecules. Electrolyzer technology is still relatively new and not yet at a mature stage of
development. As a result, the current generation of electrolyzers is expensive, and the economies
of scale have not been fully realized. To establish a robust green hydrogen market, significant
infrastructure investments are required. This includes building electrolysis facilities, hydrogen
storage and transportation infrastructure, and retrofitting existing pipelines or establishing new
ones. These upfront infrastructure costs further contribute to the high production costs. Thus, the
cost of production hinders the market expansion by acting as a major restraint for the market’s
growth.
Limitations with infrastructure
Hydrogen has low energy density, and it is challenging to transport and store it efficiently.
Dedicated pipelines for hydrogen are limited, and retrofitting existing natural gas pipelines can
be costly and complex. Lack of infrastructure for bulk transportation, such as shipping and
trucking, adds to the challenges of distributing green hydrogen to end-users. Green hydrogen
requires specialized storage facilities to prevent leaks and ensure safety. Existing storage
infrastructure for hydrogen is limited, and developing adequate storage solutions for large-scale
green hydrogen production and utilization remains a challenge. Moreover, refueling hydrogen
stations, building the overall planned infrastructure and transportation limitations hamper the
market’s expansion by acting as a restraint for the market’s growth.
Opportunity:
Rising investments in research and development activities
Research and development efforts aim to focus on boosting the performance and durability of
green hydrogen technologies. Improving the efficiency and lifespan of electrolyzers can
contribute to higher hydrogen production rates and reduced maintenance costs. Similarly,
advancements in fuel cell technology can enhance the efficiency and reliability of hydrogen-
powered vehicles and other applications. While addressing the major cost constraint of the
market, such investments can drive down the costs associated with green hydrogen production.
As research progresses, scientists and engineers can identify ways to optimize processes,
improve efficiency, and reduce the need for expensive materials. Lower production costs make
green hydrogen more competitive with fossil fuels, attracting investment and increasing market
adoption.
Technological advancements
Specific technological advancements in electrolyzers, renewable energy production and
decarbonization processes are observed to open a plethora of growth opportunities for the global
green hydrogen market. Technological advancements contribute to the development of
infrastructure required for the green hydrogen market. This includes advancements in hydrogen
storage and transportation methods, such as high-pressure or cryogenic storage, as well as the
establishment of hydrogen refueling stations and pipelines. As the infrastructure expands, it
creates more opportunities for the widespread adoption of green hydrogen.
Challenge:
Lack of awareness in underdeveloped areas
Underdeveloped areas often have limited infrastructure, including energy grids and
transportation networks. This lack of infrastructure makes it difficult to establish and distribute
green hydrogen projects effectively. Without the necessary infrastructure, it becomes challenging
to create local production and consumption centers for green hydrogen. Many underdeveloped
areas face economic challenges, including poverty and limited financial resources. Investing in
green hydrogen projects often requires significant capital and technical expertise, which may be
difficult to obtain in these regions. The lack of financial resources and expertise makes it
challenging to initiate and sustain green hydrogen initiatives. Thus, the lack of awareness in
underdeveloped areas is observed to pose a challenge for the growth of green hydrogen market.
Electrolyzer Insights
The alkaline electrolyzer segment dominated 25.18% revenue share in 2023. The primary
advantages of alkaline electrolysis technology over other manufacturing technologies are
responsible for its rapid expansion and market dominance. Alkaline electrolysis makes use of a
wide range of electrolytes that are both readily available and inexpensive to generate.
On the other hand, the solid oxide electrolyzer segment is expected to grow at rapid pace during
the forecast period. Solid oxide electrolysis uses electrolytes that are easily replicated or
interchangeable and have a low corrosive effect on both electrodes. The long life of an
electrolyzer is influenced by this factor. Due to the difficulty of hydrogen ions diffusing into an
electrolyte solution, alkaline electrolysis tends to create green hydrogen.
Global Green Hydrogen Market, By Electrolyzer Type, 2022-2032 (USD Million)
By Electrolyzer Type 2022 2023
Alkaline 1,126.9 1,578.5
SOEC 1,052.3 1,474.5
PEM 1,176.7 1,650.5
Others 1,120.8 1,564.1
Source Insights
The wind energy segment held the largest share of the green hydrogen market while contributing
47.62% of the market share in 2023. Wind energy is a widely available renewable resource, with
vast potential for harnessing clean electricity generation. Wind turbines can be installed onshore
or offshore, utilizing the natural movement of air to generate electricity without emitting
greenhouse gases or pollutants. Wind energy has become increasingly cost-competitive with
conventional fossil fuel-based electricity generation. The declining costs of wind turbines,
installation, and maintenance have made wind power an economically viable option for green
hydrogen production, enabling cost-effective hydrogen production through electrolysis using
wind-generated electricity.
End User Insights

The refining segment held the dominating share of 41.81% of the green hydrogen market in
2023. Refineries have existing infrastructure and expertise in handling and processing large
volumes of gases and liquids. This infrastructure can be repurposed or modified to accommodate
hydrogen production, allowing refineries to enter the green hydrogen market relatively quickly
and cost-effectively. Many refineries are investing in research and development (R&D) to
develop and commercialize innovative green hydrogen production technologies. This includes
advancements in electrolysis technology, catalysts, and renewable energy integration, which can
further enhance the efficiency and cost-effectiveness of green hydrogen production within the
refining sector.
In the green hydrogen market, there is fierce rivalry to reduce manufacturing costs, develop
innovative process technology, expand, and enhance the usage of green hydrogen in end use
sectors. The key market players are attempting to grow their market shares by employing various
techniques in response to such possibilities in the sector.
Some of the prominent players in the global green hydrogen market include:
 NEL ASA
 ITM Power
 ENGIE
 SEIMENS
 Air Products Inc.
 Messer Group GMBH
 Plug Power Inc.
 Cummins Inc.
 Air LIQUIDE
 LINDE
Market Segmentation:
By Electrolyzer
 Proton Exchange Membrane Electrolyzer
 Alkaline Electrolyzer
 Solid Oxide Electrolyzer
 Others
By Source
 Solar Energy
 Wind Energy
 Others (hydropower, geothermal, and hybrid of solar & wind)
By End User
 Refining
 Ammonia
 Methanol
 Iron & Steel
 Others
By Geography
 North America
o U.S.
o Canada
 Europe
o U.K.
o Germany
o France
 Asia-Pacific
o China
o India
o Japan
o South Korea
What is the current size of green hydrogen market?
The global green hydrogen market size was reached at USD 6.26 billion in 2023 and is predicted
to surpass around USD 165.84 billion by 2033.
Smart Cities Market (By Smart Utilities: Water Management, Waste Management, Energy
Management; By Smart Governance: CCS, E-governance, City Surveillance, Smart
Infrastructure, Smart Lighting; By Application: Smart Building, Smart Governance,
Smart Utilities, Smart Transportation, Environmental Solution, Smart Healthcare, Smart
Mobility Management, Smart Public Safety; By Component; By Technologies) - Global
Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023–
2032
The global smart cities market size was estimated at US$ 1.20 trillion in 2022 and it is
expected to hit around US$ 10.27 trillion by 2032, growing at a CAGR of 24% from 2023 to
2032.
Statistics
Key Takeaway:
 By application, the smart transportation segment has generated market share of 21% in
2022.
 The environmental solution segment is poised to grow at a CAGR of 28.7% during the
projected forecast period.
 By smart utilities, the energy management segment has accounted for 57% of market
share in 2022.
 The waste management segment is predicted to reach at a CAGR of 28% from 2023 to
2032.
 By smart transportation, the Intelligent Transportation System (ITS) segment has held
market share of 47% in 2022.
 The parking management segment is expected to hit at a CAGR of 26.3% during the
forecast period.
 By smart governance, the smart infrastructure segment has accounted market share of
29% in 2022.
 The smart lighting segment is projected to reach at a CAGR of 25.9% from 2023 to 2032.
 North America region has held market share of 32% in 2022.
 Asia Pacific is poised to reach at a registered CAGR of 29.2% during the forecast period.
Smart Cities Market in U.S. 2023 To 2032
The U.S. smart cities market size was valued at US$ 0.22 trillion in 2022 and it is predicted to
touch around US$ 1.85 trillion by 2032, at a CAGR of 24% from 2023 to 2032.
North America dominated the global smart cities market, accounting for around 32% of
the market share in 2022. The rising technological advancements and digital transformations
across various industry verticals such as telecommunications, IT, retail, and banking has led to
the growth of the North America smart cities market. North America has well-established
information and communication technology (ICT) infrastructure and the strong collaboration of
the local and the Federal governments with the various startups and vendors in the ICT industry
has significantly contributed to the growth of the North America smart cities market in the past
few years. The rising deployment of the civic connectivity infrastructure will lead to the growth
of the smart cities market growth. The US Department of Transportation and the Smart Cities
Council together promote the smart cities concept in the North American region by organizing
various networking events in the region.
Asia Pacific is expected to witness the highest CAGR of over 27.9% from 2023 to 2032. The
increased focus of the government towards the digital infrastructure and digital transformation is
spurring the growth of the smart cities market in Asia Pacific. Rapid urbanization, growing
population, strong economic growth, and rise in globalization are the major factors that are
expected to drive the growth of the Asia Pacific smart cities market during the forecast period.
The rising government investments to spruce up various industries such as public security,
transportation, and energy are anticipated to be the major growth drivers in the foreseeable
future.
Growth Factors
The rising urbanization, growing need for infrastructure management, and assets management
are the various factors that are boosting the government investments towards the development of
smart cities. As per the Consumer Technology Association, the global spending on the
development of smart city is estimated to be US$34.35 billion in 2020. The advancements in the
technology has fueled the adoption of the internet of things technology in the smart cities to
manage traffic flows, monitoring city infrastructure, and monitor air and water quality. The rising
need for ensuring public safety, efficient utilization of resources, rising demand for efficient
energy consumption, and healthy environment are expected to boost the growth of the smart
cities market during the forecast period. According to the United Nations Department of
Economic and Social Affairs, the urban population in 2019 was 55.7%, which is projected to
reach to 68.4% by 2050.
The rapidly increasing global population and rapid growth in the urban population is driving the
demand for the sustainable infrastructure across the globe. The governments across various
countries are taking steps and investing heavily to counter the concerns related to rising
population rapid urbanization through the development of smart cities. Utility management,
safety, and mobility are the major aspects that are efficiently handled in the smart cities. The
surging adoption of the novel technologies like artificial intelligence, nanotechnology, big data
analytics, cloud computing, internet of things, cognitive computing, and open data are the major
drivers of the growth of the smart cities market across the globe.
The growing implementation of various public-private partnership models such as Build,
operate, transfer (BOT), Build, own, operate (BOO), Organizational Behavior Management
(OBM), and Bill of Materials (BOM) are significantly driving the implementation of the various
smart city projects across the globe.
Report Scope of the Smart Cities Market
Market Size by 2032 USD 10.27 Trillion
Growth Rate from 2023 to 2032 CAGR of 24%
North America Market Share in 2022 32%
Energy Management Segment Revenue Share 2022 57%
Base Year 2022
Smart Utilities, Smart Governance, App

Segments Covered
Technologies, Geography
Siemens, Cisco, Hitachi, IBM, Microso

Companies Mentioned
Intel, NEC, ABB, AGT International
Smart Utilities Insights

Based on the smart utilities, the energy management segment accounted for a market share
of around 57% and dominated the global smart cities market in 2022. With rising
urbanization and industrialization, the demand for the energy has spurred significantly, which has
fostered the adoption of the virtual power plants that uses artificial intelligence, internet of
things, and machine learning technologies to ensure safety and higher efficiency. The rising
investments by the market players in the research and development to boost the introduction and
development of technologically advanced energy management systems and integrate
technologies like Blockchain have favored the growth of this segment.
The water management segment is anticipated to be the fastest-growing segment during the
forecast period. The rising scarcity of drinking water and growing initiatives to promote
sustainable living has resulted in the implementation of laws and regulations to implement water
management systems across the globe. Rising technological advancements has led to the
adoption of IoT-based water management systems like Advanced Metering Infrastructure smart
water meters, which facilitates smart water utilization and distribution in the cities.
Smart Governance Insights
The city surveillance was the dominating segment that accounted for 22% of the revenue in
2022 in the global smart cities market. The city surveillance plays a crucial role in the
management and monitoring public assets, civil services, transportation systems, and community
services in the smart cities. The increased concerns related to the public safety has led to the
adoption of video management solutions IP cameras across the smart cities, which is boosting the
growth of the city surveillance segment exponentially. Declining prices of IP cameras and rising
advancements in the analytics and software technology are the major drivers of the city
surveillance segment.
The command and control center (CCC) is anticipated to be the most opportunistic segment
during the forecast period as it is expected to witness the highest CAGR of 21.5% from 2023 to
2032. Almost every smart city systems and applications such as smart lighting, city surveillance,
waste management, energy management, intelligent traffic management systems, and water
management system are accessed and controlled from the CCC. The CCC is considered to the
brain of any smart city.
The smart lighting segment is predicted to reach at a CAGR of 25.9% during the forecast period.
Based on the application, the smart transportation segment garnered a revenue share of
21% and led the global smart cities market in 2022. The rapid urbanization and increasing
economic activities has led to the increased traffic congestion. This factor is stimulating the
various governments across the globe to adopt smart transportation solutions to manage assets
and infrastructure. The growing adoption of the artificial intelligence and internet of things in the
transportation field has led to the growth of the smart transportation segment across the globe.
Further, the rising demand for the electric vehicles and on-demand ridesharing is significantly
boosting the demand for the smart transportation solutions across the globe.
On the other hand, the smart governance segment is anticipated to be the fastest-growing
segment during the forecast period. The rising adoption of the smart technologies by the
government to improve and promote transparency, security, accountability, and collaboration is
booting the growth of this segment. With the support of the distributors and OEMs, the various
governments are deploying video surveillance solutions to ensure public safety and eliminate
criminal activities, which are expected to improve smart governance.
 In August 2021, Schneider Electric introduced its EcoStruxureTM Rail in India that
improves smart management, energy efficiency, and electric safety by 25%.
Some of the prominent players in the global smart cities market include:
 Siemens
 Cisco
 Hitachi
 IBM
 Microsoft
 Schneider Electric
 Huawei
 Intel
 NEC
 ABB
 AGT International
interested)
By Smart Utilities
 Water Management
 Waste Management
 Energy Management
By Smart Governance
 CCS
 E-governance
 City Surveillance
 Smart Infrastructure
 Smart Lighting
By Application
 Smart Building
 Smart Governance
 Smart Utilities
 Smart Transportation
 Environmental Solution
 Smart Healthcare
 Smart Mobility Management
 Smart Public Safety
By Component
 Hardware
 Software
 Service
By Smart Transportation
 Intelligent Transportation System
 Parking Management
 Smart Ticketing & Travel Assistance
By Geography
 North America
o U.S.
o Canada
 Europe
o U.K.
o Germany
o France
 Asia-Pacific
o China
o India
o Japan
o South Korea
o Malaysia
o Philippines
 Latin America
o Brazil

o GCC
o North Africa
o South Africa

What is the current size of smart cities market?
The global smart cities market size was reached at US$ 1.20 trillion in 2022 and it is anticipated
to rake around US$ 10.27 trillion by 2032.

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Iron and Steel Market (By Product: Flat Products, Long Products, Tubular Products,

Semi-finished Products, Others; By Application: Building & Construction, Automotive &

 Infrastructure investment: As governments throughout the world invest in large-

Iron and Steel Market Scope

Report Coverage Details

Market Size in 2023 USD 1,634.59 Billion

Market Size by 2032 USD 2,471.25 Billion

Growth Rate from 2023 to 2032 CAGR of 4.7%

Largest Market Asia Pacific

Base Year 2022

Forecast Period 2023 to 2032

Segments Covered By Product and By Application

North America, Europe, Asia-Pacific, Latin Amer

Iron and Steel Market Dynamics

 Rising investment in infrastructure - The huge infrastructure projects that

Key Market Challenges:

Key Market Opportunities:

 Growing demand for the steel in emerging markets - As developing countries

Product Type Insights

Segments Covered in the Report:

Frequently Asked Questions

Modular Construction Market (By Product: Relocatable, Permanent; By Material: Wood,

Report Coverage Details

Growth Rate from 2024 to 2033 CAGR of 7.54%

Global Market Size in 2023 USD 97.31 Billion

Global Market Size by 2033 USD 201.31 Billion

Base Year 2023

Forecast Period 2024 to 2033

Segments Covered By Product, By Material, and By Application

North America, Europe, Asia-Pacific, Latin America

Modular Construction Market Dynamics

Generative AI In Construction Market (By Type: Residential, Commercial, Industrial,

Report Coverage Details

Market Size in 2023 USD 221.62 Million

Market Size by 2032 USD 3,327.31 Million

Growth Rate from 2023 to 2032 CAGR of 35.12%

Largest Market North America

Fastest Growing Market Europe

Base Year 2022

Forecast Period 2023 to 2032

Segments Covered By Type, By Technology, and By Application

North America, Europe, Asia-Pacific, Latin America

Generative AI In Construction Market Dynamics:

Construction Materials Market (By Type: Construction Aggregates, Concrete Bricks,

Report Coverage Details

Market Size in 2023 USD 1.38 Trillion

Market Size by 2032 USD 3.52 Trillion

Growth Rate from 2023 to 2032 CAGR of 10.97%

Largest Market North America

Base Year 2022

Forecast Period 2023 to 2032

Segments Covered By Type and By Application

North America, Europe, Asia-Pacific

Construction Materials Market Dynamics:

Report Coverage Details

Market Size in 2023 USD 4.05 Billion

Market Size by 2032 USD 5.74 Billion

Growth Rate from 2023 to 2032 CAGR of 3.94%

Largest Market Asia Pacific

Fastest Growing Market North America