ID: MRFR/CO/6378-HCR | February 2021 | Region: Global | 111 pages
Global Hollow Concrete Block Market: Regional Analysis
Geographically, the global hollow concrete block market is segmented into North America, Europe, Asia-Pacific, and rest of the world (RoW). In 2018, Asia-Pacific held the largest market share of around 45% in 2018, which is expected to witness high growth during the forecast period. Activities such as refurbishing, and renovation of old buildings have increased investments in the building & construction industry, raising the demand for hollow concrete blocks market in the region. Furthermore, the increasing investments in infrastructural construction projects in the public and private sectors in emerging economies, such as China and India, are also anticipated to create opportunities in the hollow concrete block market Asia-Pacific. North America held the second largest market, which is expected to witness sustainable growth during the forecast period. The region is driven by the presence of major market players in the US.
Global Hollow Concrete Block Market: Segmentation
The global hollow concrete block market has been segmented based on product type, application, and region. On the basis of product type, the global market is segmented as split-faced concrete blocks and smooth-faced concrete blocks. On the basis of application, the global market is segmented as residential, commercial, and industrial.
On the basis of product type, the split-faced concrete blocks segment emerged as the largest segment and is anticipated to retain its position by 2024, which is attributed to its fine textured finish. This type of concrete blocks is suitable for both, internal and external walls in loadbering and non-loadbearing applications. Hence, the split-faced concrete blocks segment is anticipated to witness maximum growth due to the dimensional stability of the split-faced concrete blocks their and cost-effectiveness.
On the basis of application, the market is segmented into residential, commercial, and industrial segments. The commercial application segment held the largest market share in 2018, which will retain its position by 2024. This is attributed to the urbanization and commercialization, across emerging economies such as China, India, and Brazil, which is expected to raise the demand for commercial buildings. Hence, hollow concrete blocks in commercial buildings are expected to witness the fastest growth owing to the design flexibility, and low maintenance.
The global hollow concrete block market is highly competitive with many players, across the globe. These major players have adopted various strategies to expand their global presence and increase their foothold in the global hollow concrete block market. Some of their key strategies include expansions, investments, acquisitions, and securing contracts.
|Market Size||2027: Significant Value|
|CAGR||2027: Substantial CAGR|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product Type and Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Columbia Block & Brick (US), McNear Brick & Block (US), Midland Concrete Products, Inc. (US), CEMEX S.A.B. de C.V. (Mexico), CRH plc (Ireland), Brampton Brick (US), and Taylor Concrete (US)|
|Key Market Opportunities||Increase in investments in construction industry and urbanization|
|Key Market Drivers||Demand for green buildings|
Frequently Asked Questions (FAQ) :
Key competitors in the hollow concrete block market include Columbia Block & Brick (US), McNear Brick & Block (US), Midland Concrete Products, Inc. (US), CEMEX S.A.B. de C.V. (Mexico), CRH plc (Ireland), Brampton Brick (US), and Taylor Concrete (US).
The commercial segment will have the largest share in the hollow concrete block market.
Demand for green buildings is the key factor driving the hollow concrete block market.
Fluctuating raw material prices may limit the hollow concrete block market.
Key strategies adopted by market players to stay ahead in the hollow concrete block market include mergers and acquisitions, extensive R&D, collaborations, and product developments.