Surface Levelling Equipment Market Size

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.

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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.