Surge in demand for transportation, underground excavations, concrete repair works, and hard rock mining across the region drive the growth.
PORTLAND, OREGON, UNITED STATES, November 25, 2020 /EINPresswire.com/ — According to the report published by Allied Market Research, the North America shotcrete equipment market generated $612.4 million in 2019, and is estimated to reach $785.1 million by 2027, registering a CAGR of 4.9% from 2020 to 2027. The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenarios.
Surge in demand for transportation, underground excavations, concrete repair works, and hard rock mining across the region drive the growth of the North America shotcrete equipment market. However, high expenditure cost associated with transportation of concrete mix is anticipated to restrain the growth of the market. Furthermore, growing demand for low cost housing is expected to provide new growth opportunities in the next few years.
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Shotcrete equipment manufactrurers acoss North America have halted their production activities due to disrupted supply of components amid lockdown due to Covid-19 pandemic.
The building and construction activities across the region especially in U.S. have been halted amid the lockdown. Due to this, the demand for shotcrete equipment is anticipated to decline.
The report offers a detailed segmentation of the North America shotcrete equipment market based on technique, system, application, equipment, and country.
Based on technique, the wet mix segment contributed to the largest share in 2019, accounting for more than three-fourths of the total share, and is estimated to maintain its dominant position during the forecast period. In addition, it is estimated to portray the highest CAGR of 4.9% during the forecast period.
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Based on system, the robotic spraying segment accounted for the largest share in 2019, holding nearly four-fifths of the total share, and is expected to maintain the largest share throughout the forecast period. In addition, it is projected to register the highest CAGR of 4.9% from 2020 to 2027.
Based on country, the U.S. contributed the highest share, accounting for nearly four-fifths of the total market share in 2019, and will maintain its dominance throughout the forecast period. However, Canada is expected to grow at the highest CAGR of 5.1% from 2020 to 2027.
Leading market players analyzed in the research include Cemen Tech Inc., Mesa Industries, Inc (Airplaco and Gunite Supply), CCS Group LLC, Sany Group, Cancrete Equipment Ltd., RFI Construction Products, Blastcrete Equipment, LLC, Reed Shotcrete Equipment, Structural Shotcrete Systems, Inc., and Western Shotcrete Equipment.
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Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.
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Source: EIN Presswire