Rapid industrialization and urbanization are slated to drive the growth of North America cast-in-place concrete flooring market during the forecast timespan. Concrete is the most preferred material used in the making of structural flooring. The product is strong, durable, and long-lasting and has a reputation for being austere, utilitarian, and underfoot.
It offers enhanced structural strength to building infrastructure at the time of natural calamities like floods and earthquakes. In addition, concrete floorings gain additional robustness when used alongside steel reinforcement bars. Increasing construction activities commenced across North America will drive the cast-in-place concrete flooring market outlook over 2026.
North America Cast-In-Place Concrete Flooring Market size to Hit $3.1 Billion by 2026 with CAGR of 4.8% from 2020 to 2026.
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How will the automotive sector impel the market for cast-in-place concrete flooring across North America?
North America cast-in-place concrete flooring market is characterized into several industries including food and beverages, recycling facilities, textile, data centers, aviation, chemical/pharmaceutical, and the automotive industry. Of these, the automobile sector is slated to amass significant market share. In 2019, the automotive segment held a market share of around 19.6% Meanwhile, estimates suggest that the segment might record a CAGR of more than 2.7% across the forecast timeframe.
Why is traditional cast-in-place concrete flooring market observing increasing demand?
With reference to technique, the market is bifurcated into steel fiber reinforced concrete, traditional floor concrete, and prestressed concrete. Of these, traditional cast-in-place concrete flooring dominated the market revenue with a key share of 47% in 2019. The segment is slated to observe similar expansion patterns over the coming years primarily due to increasing end-use industries across North America.
Why is the cast-in-place concrete flooring market gaining traction across Northwest U.S.?
The Northwest U.S. cast-in-place concrete flooring industry is touted to observe exponential growth primarily due to a robust growth in the regional economy. Estimates suggest that the region market is projected to grow at a CAGR of more than 2.3% throughout the forecast timespan. Growing urban population and increasing need to new residential and commercial spaces are driving new growth prospects in the regional market outlook.
According to the U.S. Census Bureau, in May 2020, about 1,115,000 houses were constructed across the United States while 1,220,000 houses received permissions for constructions, despite the nation being largely affected due to the coronavirus crisis. Owing to the exponentially expanding construction sector, the Northwest U.S cast-in-place concrete flooring market is likely to observe commendable growth over the coming years.
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The competitive landscape of North America cast in place concrete flooring industry is inclusive of players such as USA Renovations, Twintec, Megaslab, Inc., Kalman Floor Company, Fluor Corporation, Inc, Elevation Flooring, and CoGri USA Inc. among others.