Home > Pressrelease > Surface Levelling Equipment Market size worth $400 Mn by 2028
Surface Levelling Equipment Market size worth $400 Mn by 2028
- Published Date: March 2, 2022
Surface Levelling Equipment Market size is expected to reach USD 400 million by 2028, according to a new research report by Global Market Insights Inc. The global shipments are slated to surpass 600,000 units by 2028.
Market players are focusing on advanced surface leveling solutions and establishment of technology-driven infrastructure, propelling the industry growth. For instance, in December 2020, Curb Roller launched batt screed 6000. It is a battery-powered roller screed that reduces auxiliary power source, power cords, and requirement of hydraulic power sources and others.
Supportive government initiatives for infrastructure development is likely to boost the surface levelling equipment market demand. Various economies, such as Saudi Arabia, South Korea, and India, are heavily investing in infrastructure development. For instance, in May 2021, the South Korea Government invested USD 20 billion in its smart city ecosystem. Under its National Strategic Smart Cities Program, the country has committed to serve 70 cities by 2030 and cover 60% population of the country by 2040.
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Growing surface levelling equipment rental companies and their reasonable rental packages are creating favorable environment for the market. The rental companies are focusing on including low-emission equipment in their fleet to attract potential business clients, enhancing the industry statistics. Limited availability of skilled operators for handling surface levelling equipment is one of the key factors affecting the screeds and power trowels sales.
Analyst view: “Significant investment in construction and infrastructure sector by public & private companies is driving the surface levelling equipment market growth. Innovations by OEMs such as telematics system, fleet connectivity and electric screeds & power floats will create robust opportunities.”
Stringent lockdown enforced by various governments across the globe in 2020 due to COVID-19 virus outbreak affected the market revenue. Companies faced various challenges in 2020 including shortage of raw materials, components & labors and decline in sales owing to cancellation or postponement of various construction projects. As per the data by the Associated General Contractors, in 2020, about 75% of construction companies in the U.S. postponed their new project launches amid the pandemic. However, initiatives by various governments to improve the country’s GDP & employment rate will provide a positive market outlook.
Browse key industry insights spread across 220 pages with 319 market data tables & 26 figures & charts from the report, “Surface Levelling Equipment Market Size By Product (Power Floats [Walk-Behind Power Floats, Ride-On Power Floats], Screeds [Wet Screeds, Truss Screeds]), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 - 2028” in detail along with the table of contents:
Easy installation and maximum area coverage of screeds
Screeds are predicted to hold over 30% of the surface levelling equipment market share by 2028. The ability of screeds to provide smoothness and leveling to concrete surfaces with the desired thickness is enriching their market representation worldwide. Rapidly increasing urbanization has led to growth in the demand for screed equipment on account of the growing construction of residential and commercial infrastructures. Wet screed provides several advantages including easy installation, easy operability & insulation, and is ideal for underfloor heating. Market players are focusing on new product launches to meet the customer demand for wet screeds.
Increasing public & private investments in the construction sector in North America
The North America surface levelling equipment market size is estimated to cross 100 million by 2028, growing at around 7% CAGR. Screeds and power floats sales are increasing in the region led by growing investments in advanced technologies and ongoing R&D activities. Rising government and private firm investments in building construction are augmenting the market expansion.
Increasing government investments are encouraging industry participants to unveil their advanced technology equipped surface levelling equipment. Manufacturers, such as Allen Engineering Corporation and Mutliquip, Inc., are investing in their R&D for new product innovations in ride-on power trowel. Market leaders are adopting different business and marketing strategies to improve their sales in this COVID-19 pandemic. The companies are focusing on partnering with online sales platforms to target larger potential customers.
The major surface levelling equipment market players include Wacker Neuson, Allen Engineering Corporation, Multiquip Inc., Badger Meter, Inc., MBW Inc., Bartell Global Inc., Lindley, Inc., Chicago Pneumatic, Lievers Holland, and Husqvarna AB.