NEW YORK, Nov. 28, 2016 /PRNewswire/ -- "Pervious pavement market projected to grow at a CAGR of 5.7% between 2016 and 2026"
The pervious pavement market size is projected to grow at a CAGR of 5.7% during the forecast period of 2016 – 2026 and reach USD 22.17 billion by 2026. The pervious pavement market are gaining momentum in the modern construction industry due factors such as growing concern about storm water management, depletion of ground water level, and reduced environmental impact as the materials in pervious pavements can be recycled, thus preserving natural resources. Other benefits associated with pervious concrete, such as enhanced safety, better nighttime visibility, lower tower noise, and enhanced safety are also driving the growth of this market. Lack of awareness about the technology and low demand from saturated markets are restraining the growth of this market.
"In application segment, hardscape held a considerably larger market share in the pervious pavement market"
The hardscape application segment is estimated to dominate the pervious pavement market and is projected to be the fastest-growing segment during the forecast period. The CAGR for this segment is projected to grow at a higher rate over the next ten years, as hardscapes are highly exposed to rain and snow falls and the use of pervious pavements to build these structures offers superior utility with regard to reduced runoff and stormwater management.
"North-America region is expected to witness a steady growth during the forecast period"
In 2015, Europe accounted for a larger market share of the total pervious pavement market, in terms of value, followed by North America and Asia-Pacific. The European market is projected to grow at a comparatively lower rate than the other region as a result of weak construction demand in the region due to sub-performing economic condition. North America is projected to register the highest growth from 2016 to 2021, wherein the U.S. is projected to be fastest-growing country-level market in the region for pervious pavement market. The Asia-Pacific region is projected to grow at the second-highest CAGR between 2016 and 2021, with Australia registering the highest growth rate in the region. Emerging economies such as China, India, Russia, Brazil, and countries in the Middle East are projected to grow at moderate CAGRs between 2016 and 2021.
Breakdown of Primaries
Primary interviews were conducted with a number of industry experts in order to collect data related to different aspects of the pervious pavement market. Estimates reached after analyzing secondary sources were validated through these interviews. Primary sources included professionals such as constructors, concrete suppliers, pervious module manufacturers, distributors, consultants, and academic professionals. The distribution of primary interviews is as follows:
By Company Type: Tier 1 –33%, Tier 2 – 50%, Tier 3 – 17%
By Designation: Director Level – 33%, Manager Level – 67%
By Region: North America – 8%, Europe – 17%, Asia-Pacific – 50%, RoW – 25%
Note: The tier of the companies is defined on the basis of their total revenue, as of 2015.
Tier 1: Revenue > USD 10 billion; Tier 2: USD 1 billion > Revenue > USD 10 billion; Tier 3: Revenue < USD 1 billion
The various key players profiled in the report are as follows:
1. LafargeHolcim Ltd (Switzerland),
2. CEMEX, S.A.B. de C.V. (Mexico),
3. CRH plc (Ireland),
4. BASF SE (Germany),
5. Sika AG (Switzerland),
6. UltraTech Cement Limited (India)
7. Boral Limited (Australia)
8. Balfour Beatty plc (U.K.),
9. Raffin Construction Co. (U.S.),
10. Chaney Enterprises (U.S.).
The segmentation considered for this report is based on application, material, design, and regions that constitute the key markets. The report provides a detailed analysis of the key industry players that has been done to provide insights into their business overview, products & services, key strategies, new product launches, agreements, expansions, and recent developments associated with the pervious pavement market.
Reasons to buy the report
The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the pervious pavement market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across the different verticals and regions.
2. The report helps stakeholders to understand the market and provides them information on key market drivers, restraints, opportunities, and challenges.
3. This report will help stakeholders to better understand their competitors and gain more insights into their position in the business. The competitive landscape section includes new product developments, acquisitions, agreements, partnerships, and expansions.
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