USD 1.01 billion
Geogrid Market Size, Share, Growth Analysis, By Type(Uniaxial Geogrid, Biaxial Geogrid, and Triaxial Geogrid), By Application(Road Construction, Railroad Stabilization, and Soil Reinforcement), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG25M2046 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
63
|Figures:
71
Geogrid Market Insights
Geogrid Market size was valued at USD 1.01 billion in 2022 and is poised to grow from USD 1.10 billion in 2023 to USD 2.33 billion by 2031, growing at a CAGR of 8.7% in the forecast period (2024-2031).
The global geogrid market is a dynamic and rapidly expanding industry, driven by various factors while facing certain obstacles and limitations. The market has witnessed significant growth due to increased investments in infrastructure development projects like roads, railways, airports, and bridges. Geogrids offer cost-effective and efficient solutions for soil stabilization, accelerating construction processes, and enhancing the overall performance of structures. The demand for geogrids is also propelled by growing environmental concerns, as they enable the use of locally available soils, minimizing the environmental impact associated with excavation and transportation. Geogrids surpass traditional materials in load-bearing capacity, tensile strength, and soil confinement, making them increasingly popular in various applications such as retaining walls, embankments, and reinforced soil slopes.
US Geogrid Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Road Construction
Fastest Growth
Road Construction
Growth Rate
8.7% CAGR
Global Geogrid Market ($ Bn)
Country Share for North America Region (%)
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Geogrid Market Segmental Analysis
The global geogrid market is segmented on the basis of type, application, and region. By type, the market is segmented into uniaxial geogrid, biaxial geogrid, and triaxial geogrid. By application, the market is segmented into road construction, railroad stabilization, and soil reinforcement. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Geogrid Market Analysis By Type
The dominant segment in the geogrid market is likely to be the Biaxial Geogrid. Biaxial geogrids are widely used in various civil engineering applications, including soil reinforcement, stabilization of embankments, and retaining walls, due to their balanced strength in both the machine and cross-machine directions.
On the other hand, the fastest-growing segment in the geogrid market is expected to be the Uniaxial Geogrid. Uniaxial geogrids offer excellent tensile strength in one direction and are commonly used in applications that require reinforcement in a specific direction, such as soil stabilization in steep slopes and retaining walls.
Geogrid Market Analysis By Application
Road construction is the dominant segment in the geogrid market. Geogrids are extensively used in road construction projects to enhance the structural integrity of pavements, improve load-bearing capacity, and reduce long-term maintenance costs. The demand for geogrids in road construction is driven by the need for durable and reliable infrastructure to support transportation networks.
On the other hand, Soil Reinforcement is the fastest-growing segment in the geogrid market. Geogrids play a vital role in soil reinforcement applications, where they are utilized to stabilize slopes, embankments, and retaining walls. The increasing emphasis on infrastructure development and construction projects across the globe has led to a growing demand for geogrids for soil reinforcement, as they provide effective solutions for improving the stability and longevity of these structures.
Global Geogrid Market By Application
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Geogrid Market Regional Insights
The global geogrid market is analyzed based on its regional presence, which includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. North America emerges as the dominant segment in the global Geogrid market. The region has witnessed significant growth in infrastructure development projects, including roads, highways, and bridges, which has increased the demand for geogrids for soil stabilization and reinforcement.
Asia Pacific is considered to be the fastest growing region in the Geogrid market. Rapid urbanization, population growth, and increasing investments in construction and infrastructure projects in countries like China, India, and Southeast Asian nations have fueled the demand for geogrids in the region. Moreover, the focus on sustainable and eco-friendly construction practices has further driven the adoption of geogrids in the Asia-Pacific region.
Global Geogrid Market By Geography
- Largest
- Fastest
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Geogrid Market Dynamics
Geogrid Market Drivers
Infrastructure Development:
- Increasing investments in infrastructure projects, such as roads, railways, airports, and bridges, drive the demand for geogrids. These geosynthetic materials offer cost-effective and efficient solutions for soil reinforcement and stabilization, expediting construction processes and enhancing the overall performance of structures.
Environmental Concerns:
- Growing environmental awareness and the need for sustainable construction techniques are driving the demand for geogrids. These materials enable the use of marginal or locally available soils, reducing the environmental impact associated with excavation and transportation of conventional fill materials.
Geogrid Market Restraints
High Initial Costs:
- The initial investment in geogrid materials and installation can be relatively high, which may deter some projects from adopting these solutions, especially in regions with budget constraints.
Limited Awareness and Expertise:
- The lack of awareness and technical expertise among contractors and engineers in using geogrids may hinder their adoption in certain construction projects, leading to reliance on traditional materials and methods. Educating the industry about the benefits and proper application of geogrids is essential to overcome this restraint.
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Geogrid Market Competitive Landscape
The global geogrid market features a highly competitive landscape with several key players vying for market share. These companies are constantly striving to innovate and develop advanced geogrid solutions to meet the diverse demands of civil engineering projects. Established players possess strong research and development capabilities, extensive global distribution networks, and a wide range of product offerings. They often engage in strategic partnerships, collaborations, and acquisitions to strengthen their market position and expand their customer base. Additionally, these companies focus on product differentiation and customization to cater to specific project requirements. Price competitiveness and adherence to stringent quality standards are crucial factors influencing competition in the geogrid market. Overall, the market is witnessing intense rivalry among prominent players, driving the continuous advancement of geogrid technologies and applications.
Geogrid Market Top Player’s Company Profile
- Huesker (U.S.)
- TenCate Geosynthetics Europe (Austria)
- Strata Systems, Inc. (U.S.)
- Maccaferri Inc. (U.S.)
- Advanced Drainage Systems, Inc. (U.S.)
- NAUE GMBH & CO. KG. (Germany)
- Synteen Technical Fabrics (U.S.)
- CLIMAX SYNTHETICS PVT. LTD. (India)
- Veer Plastics Private Limited (India)
- BPM (China)
- GSE Environmental (U.S.)
- S i A Pietrucha Sp. z o.o. (Poland)
- CTM Geosynthetics (India)
- TENAX Corporation (U.S.)
- BOSTD Geosynthetics Qingdao Ltd. (China)
Geogrid Market Recent Developments
- In 2022, Tensar International Corporation, a leading geosynthetics manufacturer, announced the launch of a new line of geogrids that are specifically designed for use in road construction. The new line of geogrids is stronger and more durable than traditional geogrids, and it is also more environmentally friendly.
- In 2023, Officine Maccaferri Spa, another leading geosynthetics manufacturer, announced the opening of a new manufacturing facility in China. The new facility will allow Officine Maccaferri to expand its reach into the growing Chinese market.
- In 2023, the Geosynthetics Australia Association (GA) launched a new website that provides information about geogrids and their applications. The website includes a directory of geogrid manufacturers, as well as information about the latest developments in the geogrid market.
Geogrid Key Market Trends
- Increasing Adoption of Geogrids in Sustainable Construction: With growing environmental concerns and the need for sustainable building practices, there is a rising trend of adopting geogrids in construction projects. Geogrids allow the use of marginal or locally available soils, reducing the need for excavation and transportation of conventional fill materials. This not only minimizes the environmental impact but also makes construction more cost-effective and efficient. As sustainable construction practices gain prominence, the demand for geogrids is expected to increase significantly.
- Growing Use of Geogrids in Transportation Infrastructure: The construction of transportation infrastructure, such as roads, highways, railways, and airports, is on the rise globally. Geogrids play a crucial role in improving the stability and durability of these structures by providing effective soil reinforcement and slope stabilization. Governments and private entities are increasingly recognizing the benefits of using geogrids in transportation projects to enhance the longevity and performance of the infrastructure. As infrastructure development continues to be a priority in many regions, the demand for geogrids in the transportation sector is likely to witness substantial growth.
Geogrid Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component types team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global geogrid market analyses, these materials play a crucial role in civil engineering applications such as pavement construction, soil reinforcement, and slope stabilization. The market is driven by increasing investments in infrastructure development projects globally, including roads, railways, airports, and bridges. Geogrids offer cost-effective and efficient solutions for soil stabilization, leading to faster construction and improved overall performance of structures. Moreover, rising environmental concerns have fueled the demand for geogrids, as they allow the use of locally available soils, reducing the environmental impact associated with traditional excavation and transportation methods. The superior load-bearing capacity, tensile strength, and soil confinement properties of geogrids over conventional materials contribute to their widespread adoption in various construction applications.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 1.01 billion |
| Market size value in 2031 | USD 2.33 billion |
| Growth Rate | 8.7% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Geogrid Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Geogrid Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Geogrid Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Geogrid Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Geogrid Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Geogrid Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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