North America Shotcrete Market Size, Share, Competitive Landscape and Trend Analysis Report by Technique, System, Equipment and Application : North America Opportunity Analysis and Industry Forecast, 2022-2031

North America Shotcrete Market Statistics – 2031

The North America shotcrete market was valued at $1.2 billion in 2021, and is projected to reach $2.5 billion by 2031, growing at a CAGR of 6.8% from 2022 to 2031.

Shotcrete is the technique of putting concrete at fast speeds, typically to vertical or overhanging surfaces. It can be applied using a wet or dry mix method. Shotcrete is reinforced with fibers, steel rods and steel mesh are mostly employed for mines, lining tunnel walls and subways. This method of placing structural concrete is financially viable. Shotcrete is a versatile technology that may be utilized for both new construction and repairs, as well as any other concrete procedure. Shotcrete can be simultaneously laid, compacted, and compacted, and its maximum aggregate size is typically 3/8 inch, which improves quality and manageability. Shotcrete sticks to surfaces better than ordinary concrete and can be combined with steel fiber in place of welded wire mesh, which provides superior ductility, tensile strength and flexural strength. In addition, Shotcrete is more affordable than conventional concrete.

The shotcrete market is primarily driven by rising underground building activities, rapid economic development and growing urbanization, rising underground transportation, the technological efficiency of shotcrete, and rising mining and tunnelling activities. Increasing construction of free-form buildings such as climbing walls, sculptures, theme park features, and water-retention structures such as dams, swimming pools, canal linings, river and sea barriers, storage reservoirs, and water towers additionally drives the shotcrete market. In addition, makers of shotcrete are continually inventing new technologies and modern equipment for its application. This, in turn, is anticipated to drive shotcrete demand during the projected period. Due to the rapid development of shotcrete technology and raw materials, the shotcrete market is predicted to experience significant growth. In addition, the economic and technical efficiency of shotcrete, as well as the sustainability attained through the shotcrete process, contribute to the expansion of the shotcrete market. However, transportation of the concrete mix continues to hinder the expansion of this business. During the projection period, the increasing demand for low-cost housing will create significant opportunities for market participants.

The North America shotcrete market is segmented on the technique, system, equipment and application. Depending on technique, the market is categorized into wet mix and dry mix. Depending on system, the market is categorized into manual and robotic spraying. Depending on equipment, the market is categorized into general equipment, auxiliary equipment and special equipment. Depending on application, the market is categorized into construction, inground swimming pool, water retaining structure, protective coatings, and repair works.

Major players operating in the North America shotcrete market include BASF SE, Blastcrete Equipment, LLC., HEIDEL BERGCEMENT, KPM Industries Ltd, LKAB Berg & Betong, MAPEI SPA, REED Shotcrete Equipment, RFI Construction Products, Structural Shotcrete Systems, Inc., and Western Shotcrete Equipment.            

Other players operating in the North America shotcrete market are GRUPO ACS, CanCrete Equipment Ltd., and CCS Group, LLC.

North America Shotcrete Market, by Technique

The wet mix segment accounted for the largest share i.e., 77.89%, because in shotcrete process it is used for building purposes and water content can be controlled more accurately. Dry mix segment that is the fastest growing segment, growing around 7.0% CAGR during the forecast period, because of increased concrete repairs, preliminary sealing against high water penetration, minor spraying, and waterproofing applications.

North America Shotcrete Market, by System

The robotic spraying segment accounted for the largest share i.e., 78.21%, because of increased tunneling and mining activities. Manual segment is the fastest growing segment, growing around 7.1% CAGR during the forecast period, because of its less rebound and convenient adjustment of the angle and distance.

North America Shotcrete Market, by Equipment

The general equipment segment accounted for the largest share i.e., 39.26%, because od increased building, renovation & remodeling, rise in popularity of an eco-friendly green building design and underground construction. Special equipment segment is the fastest growing segment, growing around 7.0% CAGR during the forecast period, because of its greater bonding strength.

North America Shotcrete Market, by Application

The underground construction segment accounted for the largest share i.e., 59.22%, increased construction of tunnel and mining industries. Repair works segment is the fastest growing segment, growing around 8.0 % CAGR during the forecast period, because of flexibility of the reinforcement material.

North America Shotcrete Market, by Country

U.S. contributed the 65.09% market share in 2021, during the forecast period, owing to maximum number of infrastructure development activities along with renovation and reconstruction.

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Key Benefits For Stakeholders

• The report provides in-depth analysis of the North America Shotcrete market along with the current trends and future estimations.
• This report highlights the key drivers, opportunities, and restraints of the market along with the impact analysis during the forecast period.
• Porter’s five forces analysis helps to analyze the potential of the buyers & suppliers and the competitive scenario of the North America Shotcrete market for strategy building.
• A comprehensive market analysis covers the factors that drive and restrain the North America Shotcrete market growth.
• The qualitative data about market dynamics, trends, and developments is provided in the report.

Impact Of Covid-19 On The North America Shotcrete Market

• Emergence of COVID-19 had a brief favorable influence on expansion of the market for North America shotcrete.
• It impacted the economies of several developed and developing nations, which has led to reduced GDP worldwide.
• Due to the nation-wide lockdowns, the production came to a halt. The demand supply change was disrupted and soon the economies witnessed a downfall, thereby crashing the stock markets.
• The building and construction segment also took a hit in the process and came to a complete stop.
• Moreover, renovation and repair works were also at a standstill.
• In the North American region, the U.S. was the most affected country. It recorded the highest number of COVID-19 positive patients and highest number of deaths. In addition, there was no lockdown enforced, yet people were reluctant to go out of their homes and resulted into various production and constriction sites being shut down.
• This largely impacted the flow of shotcrete throughout its value chain and thus, the COVID-19 outbreak largely impacted the North America shotcrete market.
• However, after the pandemic, as the supply chains return to normal after the restrictions were lifted, market participants in this market have explored for measures to minimize the pandemic's impact on their business.

  North America Shotcrete Market Report Highlights