Surface Levelling Equipment Market Size & Share 2022 to 2028
Market Size by Product (Power Floats [Walk-Behind Power Floats, Ride-On Power Floats], Screeds [Wet Screeds, Truss Screeds]), COVID-19 Impact Analysis & Forecast.
Report ID: GMI5211
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Published Date: February 2022
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Report Format: PDF
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Authors:
Preeti Wadhwani, Aishvarya Ambekar
Surface Levelling Equipment Market Size
Surface Levelling Equipment Market size exceeded USD 250 million in 2021 and is expected to grow at over 6.5% CAGR between 2022 and 2028. The increasing demand for screeds and power floats for efficient surface levelling is driving the industry growth considerably. The equipment’s high accuracy, high speed, and robust performance are a playing vital role in increasing market demand globally.
Rising government initiatives to accelerate economic growth are creating robust market opportunities. Governments are significantly investing in infrastructure development activities, such as smart city development and road building projects. For instance, in January 2022, The Asian Infrastructure Investment Bank (AIIB) approved the loan of USD 100 million to anco de Desenvolvimento de Minas Gerais S.A. (BDMG), bank in Brazil, for BDMG Renewables and Asia Connectivity Facility.
The industry is witnessing an upward trend on account of the shifting focus of construction contractors toward speeding up flooring works without compromising on the quality. Companies, such as Multiequip, Inc and Wacker Neuson, are introducing their equipments to improve market share.
Factors such as high purchasing cost are significantly impacting the surface levelling equipment market statistics. Moreover, surface levelling equipment needs to be maintained periodically to retain its efficiency, affecting the business revenue. The blades of power trowels need to be replaced periodically to retain the levelling efficiency of the trowels, increasing the maintenance costs. The average cost of single blades ranges between USD 10 and USD 30, and the set of power trowel blades costs up to USD 100, creating hinderance to the industry expansion.
Surface levelling equipment manufacturers experienced a remarkable decline in demand owing to rapid virus transmission in first three quarters of 2020. This industry was challenged due to strict safety measures imposed by majority of governments to contain the virus. Surface levelling equipment sale was affected in 2021 by the temporary suspension of construction activities as well as disruption in the global supply chain. However, the market is observing a significant growth in early 2022 owing to significant investments by governments to accelerate their economy growth.
Surface Levelling Equipment Market Analysis
The power floats product segment is forecast to register growth rate of around 7% through 2028. Walk-behind power trowel offers robust performance in constricted places led by its flat design and movable circular rod, supporting the segment growth. Walk behind power floats feature a four-blade design that is suitable for both commercial as well as residential construction.
Industry participants are highly emphasizing on introducing their new walk-behind power floats to boost customer base. Companies such as Badger Meter, Inc. and Norton Clipper are launching new products to spur market growth.
The Asia Pacific surface levelling equipment market is poised to reach USD 150 million by 2028 impelled by growing construction sector by rising population & significant urbanization. Supporting government initiatives toward accelerating infrastructure development and smart city project are playing a vital role in improving industry statistics.
Increasing demand for surface levelling equipment in APAC is encouraging industry players to adopt diverse business strategies to increase their revenue. Manufacturers, such as Metsel and Curb Roller, are focusing on partnership to enhance their service offerings.
Surface Levelling Equipment Market Share
Key surface levelling equipment market participants include
Shifting focus toward zero-emission operations is inspiring various industry leaders to innovate electric surface levelling equipment. The companies are considerably focusing on strengthening their equipment product portfolio to fuel market revenue. Screeds and power float manufacturers are expanding their dealer and distributor network to increase their consumer base.
OEMs are developing their products as per the regional needs to increase their net sales as well as to improve their brand value in the market. For instance, in January 2020, Husqvarna Group launched its new products catalog for power tolos & surface levelling equipment for the UK. The company aims to showcase all its products & services to market its offerings in the country and increase brand awareness. This strategic initiative will provide the overall idea of this industry to its existing & potential customers in the region.
This surface levelling equipment market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD and shipment in units from 2018 to 2028 for the following segments:
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The above information has been provided for the following regions and countries:
Research methodology, data sources & validation process
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Our 6-step research process
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