Market Research Future (MRFR) has published a cooked research report on the “Global Construction nails Market” that contains information from 2018 to 2032.The construction nails market is estimated to register a CAGR of 4.90% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global construction nails market— Simpson Strong-Tie; Grip-Rite; Shandong Oriental Cherry Hardware Group; Maze Nails; TITIBI; Pan Chem Corporation; JE-IL WIRE PRODUCTION; Duchesne; BECK Fastener Group; DEACERO
The global construction nails market is accounted to register a CAGR of 4.90% during the forecast period and is estimated to reach USD 15.99 Billion by 2032.
The ongoing expansion of infrastructure development and construction projects is one of the factors driving the market for construction nails. The impact of market instability and fluctuations is one major barrier to the growth of the construction nail market. Nonetheless, government efforts and investments in infrastructure play a significant influence in propelling the construction nail market.
The global construction nails market has been segmented based material, and application.
On the basis of material, the market is segmented into stainless steel, carbon steel, and others. The stainless steel segment was attributed to holding the largest market share in 2022, due to its high reliability, durability, and quality in terms of strength
Based on application, the global construction nails market has been segmented into wood construction, and concrete construction. The wood construction segment was expected to hold the largest market share in 2022, since environmental concerns are growing.
The global construction nails market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe construction nails market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The construction nails market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World construction nails market comprises of Middle East, Africa, and Latin America.
The largest market share for construction nails was maintained by the North American regional sector. The market for construction nails was fuelled by brisk construction activity in the residential and commercial sectors. The region's high revenue share in the market is a result of its emphasis on infrastructure development and remodeling projects as well as the presence of reputable construction firms. In North America, it is anticipated that the energy and utilities construction industry would grow by 10.3% in real terms in 2023.
Moreover, the Europe market has been persistently growing over the forecast period. The demand for construction nails is spurred by the need for energy-efficient buildings, rehabilitation projects, and investments in infrastructure. Market growth is further aided by the region's focus on environmentally friendly building methods and materials.
Additionally, over the projection period, China is anticipated to rise at the fastest pace. Because of the favorable government regulations that encourage investment in the building sector, the nation has become one of the most promising markets in Asia Pacific. Additionally, variables including population expansion, fast urbanization, and rising disposable incomes are crucial in the development of the nation's building industry. As a result, the market is anticipated to develop throughout the projected period due to an increase in construction activity in the nation
Furthermore, the rest of the world's construction nails market is divided into the Middle East, Africa, and Latin America. New government initiatives in South Africa to invest more in the infrastructure sector are predicted to spur growth in the country's construction industry, which in turn is anticipated to spur market growth.
Key Findings of the Study
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