Global Construction Aggregates Market Is Expected to Reach $621.1 Billion by 2031: Allied Market Research
Allied Market Research
4 min read
Allied Market Research
Increase in urbanization & industrialization, growth of the construction industry, and innovations in technologies for production of aggregates drive the growth of the global construction aggregates market. The outbreak of the COVID-19 pandemic led to have a negative impact on the growth of the global construction aggregates market, as construction projects were either delayed or cancelled due to implementation of global lockdown.
Portland, OR, July 20, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global construction aggregates market generated $375.3 billion in 2021, and is projected to reach $621.1 billion by 2031, witnessing a CAGR of 5.0% from 2022 to 2031. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
Increase in urbanization & industrialization, growth of the construction industry, and innovations in technologies for production of aggregates drive the growth of the global construction aggregates market. Moreover, growth in the tourism industry coupled with increased investments in development of recreational projects is expected to generate potential opportunities for the market during the forecast period.
The outbreak of the COVID-19 pandemic led to have a negative impact on the growth of the global construction aggregates market, as construction projects were either delayed or cancelled due to implementation of the global lockdown.
The demand for construction aggregates decreased significantly during the pandemic, due to unavailability of raw materials, shortage of labor, and supply chain disruptions.
The report offers detailed segmentation of the global construction aggregates market based type, transportation mode, application, and region.
Based on type, the sand & gravel segment held the highest market share in 2021, holding more than half of the total market share, and is expected to continue its leadership status during the forecast period. However, the crushed stone segment is estimated to register the highest CAGR of 5.3% from 2022 to 2031.
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Based on transportation mode, the truck segment held the largest market share in 2021, holding around 93% of the total market share, and is expected to continue its leadership status during the forecast period. However, the train segment is projected to register the highest CAGR of 8.2% from 2022 to 2031.
Based on region, Asia-Pacific is contributed to the highest share in terms of revenue in 2021, holding nearly three-fifths of the total market share, and is estimated to continue its dominant share by 2031. However, the LAMEA region is projected to manifest the fastest CAGR of 6.1% during the forecast period.
Leading players of the global construction aggregates market analyzed in the research include Adelaide Brighton Ltd., Cemex SAB de CV, CRH plc, Heidelberg Cement AG, Holcim, Martin Marietta Materials Inc., Rogers Group Inc., SIKA Group, Vicat SA, and Vulcan Materials Company.
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