SAN FRANCISCO, June 25, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Anchoring Equipment - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 8; Released: April 2021
Executive Engagements: 886
Companies: 30 - Players covered include ArcelorMittal SA; Con-Tech Systems Ltd.; DYWIDAG Systems International GmbH; Nippon Steel & Sumitomo Metal Corporation; SBH Tiefbautechnik GmbH; Skyline Steel LLC; Spantec GmbH; ThyssenKrupp Bautechnik GmbH; TWF Tiefbautechnik GmbH Edgen Murray; Williams Form Engineering Corporation; and Others.
Coverage: All major geographies and key segments
Segments: Type (Strand Anchor, Drill Hollow Bar, Thread Bar, Other Types)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
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Global Anchoring Equipment Market to Reach $766.2 Million by 2026
Civil engineering structures, such as dams, bridges, and tunnels, play a crucial role in meeting the growing energy demand along with achieving extensive interconnectivity within cities as well as regions. For constructing such structures, vast amounts of soil needs to be excavated or displaced from either above or below the ground, which requires various specialized devices, such as anchoring equipment; soil retention systems, such as pipe piles and piling sheets; and trench shoring systems, such as pullers, pipe grabbers, trench boxes, and slide rails, for ensuring safety and structural stability of the adjoining soil structure. Civil engineers mostly deploy strut frames or anchors in situations where sheet-piling construction lacks the capability of absorbing on its own the entire force from the released soil and water at the time of excavation. While strut frames are typically used on a temporary basis, anchors are generally permanent, though they can also be implemented temporarily in certain cases. One of the major advantages of anchors in comparison to strut frames is that they allow the construction pit to remain obstacle free.
Amid the COVID-19 crisis, the global market for Anchoring Equipment estimated at US$613.8 Million in the year 2020, is projected to reach a revised size of US$766.2 Million by 2026, growing at a CAGR of 3.9% over the analysis period. Strand Anchor, one of the segments analyzed in the report, is projected to grow at a 4.4% CAGR to reach US$393.9 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Drill Hollow Bar segment is readjusted to a revised 3.6% CAGR for the next 7-year period. This segment currently accounts for a 32.7% share of the global Anchoring Equipment market.
The U.S. Market is Estimated at $148 Million in 2021, While China is Forecast to Reach $154.6 Million by 2026
The Anchoring Equipment market in the U.S. is estimated at US$148 Million in the year 2021. The country currently accounts for a 23.6% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$154.6 Million in the year 2026 trailing a CAGR of 5.2% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.8% and 3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.1% CAGR while Rest of European market (as defined in the study) will reach US$163.6 Million by the end of the analysis period.
Expected recovery in construction activity post pandemic in both developed and developing economies and strong growth opportunities for residential and infrastructure construction projects will boost demand in the coming years. Rising urbanization, increasing mining excavation and exploration activities, and expanding transport and trade channels, across a large number of developing as well as developed economies will create significant demand for anchoring equipment. In addition, rising demand for renewable sources of energy, such as hydroelectric power, and wind energy still remain some of the key factors that are likely to create lucrative growth opportunities for the manufacturers of anchoring equipment.
Thread Bar Segment to Reach $111.4 Million by 2026
Modern thread bar anchors typically display very low deformations as they involve sophisticated active tensioning. Various components of a modern thread bar anchor including anchor head; unbonded length (comprising supporting structure and structural element); and bonded length (consisting of tendon, grout body and spacer) is witnessing considerable enhancements aimed at improving performance and overall efficiency. In the global Thread Bar segment, USA, Canada, Japan, China and Europe will drive the 2.9% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$69.8 Million in the year 2020 will reach a projected size of US$85.2 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$15.5 Million by the year 2026, while Latin America will expand at a 3.5% CAGR through the analysis period. More
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