Rise in government expenditure for infrastructural development, improved strength and sustainability in structure, and development in construction technology have boosted the growth of the global post-tensioning system market. The market across North America dominated in 2020, holding around two-fifths of the market. The Covid-19 pandemic hampered the construction, manufacturing, tourism, and hospitality industries as all manufacturing and construction activities were stopped or postponed.
Portland, OR, Oct. 21, 2021 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global post-tensioning system market generated $9.92 billion in 2020, and is expected to reach $22.26 billion by 2030, registering a CAGR of 8.7% from 2021 to 2030.
Rise in government expenditure for infrastructural development, improved strength and sustainability in structure, and development in construction technology have boosted the growth of the global post-tensioning system market. However, lack of skilled labor and complexity of work hinder the market growth. On the contrary, rapid urbanization and industrialization in emerging countries are expected to open new opportunities for the market players in the future.
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The Covid-19 pandemic hampered the construction, manufacturing, tourism, and hospitality industries as all manufacturing and construction activities were stopped or postponed.
The prolonged lockdown disrupted the supply chain and increased the prices of raw materials.
However, the market is expected to get back on track post-pandemic as the manufacturing industries open at their full-scale capacities.
The report segments the global post-tensioning system market on the basis of application, type, structure type, and region.
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Based on application, the bridge-external post-tensioning segment is expected to portray the highest CAGR of 10.3% during the forecast period. However, the bridge-internal post-tensioning segment held the largest share in 2020, contributing to more than half of the market.
On the basis of type, the unbonded segment is projected to manifest the highest CAGR of 9.0% during the forecast period. However, the bonded segment held the lion’s share in 2020, accounting for more than two-thirds of the market.
The global post-tensioning system market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America dominated in 2020, holding around two-fifths of the market. In addition, the market across LAMEA is projected to showcase the highest CAGR of 9.4% during the forecast period.
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The global post-tensioning system market includes an in-depth analysis of the prime market players such as Amsysco, Inc., Bouygues (VSL International Ltd.), BBV Systems GmbH, Keller Group Plc. (Suncoast Post-Tension), DYWIDAG, Soletanche Freyssinet (Freyssinet), Liuzhou OVM Machinery Co., Ltd., Tendon, LLC, SRG Global, and TMG Global Pte Ltd.
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