According to MarkNtel Advisors study the Global GeoGrid Market is expecting to propagate at around 8% CAGR in the forecast period of 2022-27.

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Key Findings of the Study: Geogrid market

Key Driver: Mounting Infrastructure Construction Buzz to Steer the Market Growth

The rise in infrastructure developments across countries like China, India, the UK, Canada, etc., has led to the escalating demand for geogrids worldwide. In addition to these, it also benefits other industries, including heavy vehicles & equipment, railways, etc., by enhancing the performance of earth-moving vehicles and confrontation against severe weather situations, such as heavy rains.

The expanding size of the global construction industry focusing on the rehabilitation of existing roads & bridges is expected to complement the demand for geogrids in the coming years. The engineering & maintenance challenges, including weathering effects, poor drainage, aging of road surfaces, increased traffic, etc., due to the heavyweight of vehicles causing cracks on roads & highways, have shifted focus toward a more sustainable alternative, such as geogrids. Hence, these aspects are projected to fuel the growth of the Global GeoGrid Market during 2022-27.

  • In 2021, the US government approved a USD 1 trillion investment bill, of which USD 240 billion was allocated for rebuilding roads, bridges, public transit, airports, & railways. Moreover, the aggregating burden of perpetual maintenance of the infrastructure settings, such as roads, etc., has also propagated the usage of geogrids.

Growth Opportunity: Surge in Railway Development

In railway tracks, geogrids help stabilize the substructure on soft soil, reinforce soil walls & steep stones, asphalt reinforcement, spread loads over piles, etc. Hence, they play a crucial role in reducing the maintenance costs associated with tracks while preventing structural deficiencies as the deployment of GeoGrid ensures the structural integrity of the base aggregate and the capacity of the railway. Consequently, the rising railway development & up-gradation projects in several countries worldwide would lead to a notable demand for geogrids in the upcoming years, which would act as an area of lucrative growth opportunity for the global market. For instance:

In 2020, the Canadian National Railway Company (CN) announced to invest approximately USD 82 million across Saskatchewan, USD 82 million across Manitoba, USD 15 million across New Brunswick, and USD 7.8 million across Nova Scotia. These investments would be channelized on replacing rails & ties, along with the maintenance of bridges, level crossings, culverts, signal systems, and other track infrastructure..

For more detailed information about the Geogrid market report, click here – https://www.marknteladvisors.com/research-library/geogrid-market.html

Scope of the Report and Geogrid Market Segmentation:

By Application

  • Roads & Highways
  • Railway Tracks
  • Bridges & Dams
  • Residential & Commercial Buildings
  • Others (Sea Ports, Airport Runways, Solid Waste Landfills, etc.)

Here, Roads & Highways accounted for a sizeable share in the market during 2017-2020.

By Type

  • Uniaxial GeoGrids
  • Biaxial Geogrids
  • Triaxial Geogrids

By Manufacturing Method

  • Extrusion
  • Knitten/Woven
  • Bonded/Welded

Geogrid Market Competitive Landscape

  • Ace Geosynthetics
  • Glen Raven Inc.
  • Huesker Synthetic GmbH
  • Low & Bonar PLC
  • Maccaferri Group- SECI SPA
  • Naue GmbH & Co. CG
  • Tenax SPA
  • Koninklijke ten Cate BV
  • Tensar Corporation
  • Wrekin Products Ltd.
  • Asahi-Kasei Geotech
  • Diamond Grid
  • GSE Environemental
  • Machine-TST
  • Low & Bonar
  • Maruti Rub-Plast
  • CTM Geosynthetics
  • Carthage Mills

Geographical Analysis:

By Region

  • North America
  • South America
  • Europe
  • Middle East & Africa
  • Asia Pacific

Of all regions worldwide, North America accumulated the highest share in the Geogrid Market during the historical period.

Note: If you require specific information not covered in the current report, we can provide it through customized option

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