North America Cast-in-Place Concrete Flooring Market Size

North America Cast-in-Place Concrete Flooring Market Size

North America Cast-in-Place Concrete Flooring Market size exceeded USD 3.5 billion in 2020 and is poised to witness over 4.9% CAGR between 2021 and 2027. Rapid urbanization along with the growing distribution and logistics sector and retail outlet is likely to boost the regional industry demand.

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Rising urbanization and growing construction spending by governments to improve infrastructure is expected to enhance the Cast-in-Place concrete flooring applications. The market is mainly driven by the increasing flooring applications in industry verticals such as construction, aerospace, warehousing, retail industry, and manufacturing. Moreover, the growing remodeling & renovation practices in this region are enhancing the need for Cast-in-Place concrete flooring, contributing significantly to the industry statistics. Due to a huge drift in the retail industry, a significant growth is observed in the construction of warehouses with proper flooring practices.

Technological development in material handling equipment with enhanced mobility through wheels has influenced the demand for glossy flooring surfaces. The strong growth of Silicon Valley along with increasing investments in technologies by end-use industries is driving the demand for data centers in the region. Data centers are among those few markets, which remain unaffected by economic downturn and Covid-19 pandemic. The number of data centers will increase as the post pandemic era will have many business operations on the cloud.

The Cast-in-Place concrete flooring industry in North America has witnessed a significant drop in demand on account of ongoing COVID-19 pandemic. Owing to the economic slowdown, the construction industry in the region is suffering from liquidity crunch. Investments have reduced across the market impelled by the blocked cash flow of contractors and developers. Development projects and commercial businesses have been affected by huge fluctuations in retail sector, companies may decide to minimize office floor space to lower the rental costs. However, the Cast-in-Place concrete flooring market in the region is predicted to surge led by stimulus package and necessary steps taken for opening economic activities by public and private sectors.