Hollow Concrete Block Market is segmented by Product Type (Split-Faced Concrete Blocks and Smooth-Faced Concrete Blocks), by Application Type (Residential, Commercial, and Industrial), and by Region (North America [The USA, Canada, and Mexico], Europe [Germany, France, The UK, Russia, and Rest of Europe], Asia-Pacific [China, Japan, South Korea, India, and Rest of Asia-Pacific], and Rest of the World [Brazil, Saudi Arabia, and Others]).
Hollow Concrete Block Market is segmented by Product Type...
The Hollow Concrete Block Market is expected to grow from USD 234.56 billion in 2022 to USD 314.68 billion by 2028 at a CAGR of 4.96% during the forecast period.
Due to increased investments in construction and urbanization, the value of the hollow concrete block market is anticipated to develop rapidly over the forecast period. As a result, there will be a rise in construction activity and a consequent rise in demand for hollow concrete blocks globally. It is anticipated that leading manufacturers would raise their research and development efforts in order to come up with innovative designs and dependable procedures, which will drive the hollow concrete block market.
One of the crucial factors influencing the growth of the industry favorably and propelling it to a growing side is the higher durability of hollow concrete blocks, which would help the manufacturing industry use it and subsequently lead to the construction of a stronger block of building, as required. The industry will grow rapidly during the forecast period owing to the product's affordability and portability.
Every industry, including the hollow concrete block market, was impacted by the COVID-19 pandemic. COVID-19 had a negative impact on the world economy, which has affected the growth of the global hollow concrete block market and hindered revenue generation. However, the market for hollow concrete blocks is expected to rise in the coming years. Growth in consumer demand for green buildings, along with advancements in raw sustainable materials sediments and synthetic sand, has recently led to an increase in demand for hollow concrete blocks and has been shown to be the primary driver in the hollow concrete block market value.
Segments Analysis
Segmentations
List of Sub-Segments
Dominant and Fastest-Growing Segments
Product-Type Analysis
Split-Faced Concrete Blocks and Smooth-Faced Concrete Blocks
Split-faced is anticipated to remain the dominant segment in the years to come.
Application-Type Analysis
Residential, Commercial, and Industrial
Residential is expected to be the dominant segment during the forecast period.
Regional Analysis
North America, Europe, Asia-Pacific, and Rest of the World
Asia-Pacific is expected to remain the largest market over the next five years, whereas North America is likely to grow at the fastest rate.
By Product Type
The hollow concrete block market is segmented into split-faced concrete blocks and smooth-faced concrete blocks. The split-faced product type will dominate the market, it will also be the faster-growing product type. Commercial projects like municipal structures, schools, and theatres are built with split-faced hollow concrete blocks. They are also employed as load-bearing walls or veneers, which fit in well with other architectural block treatments, particularly in non-residential or commercial settings.
By Application Type
The hollow concrete block market is segmented into residential, commercial, and industrial. Due to the extensive use of hollow concrete blocks in residential buildings and renovation, the residential segment is expected to be the dominant segment in the coming years. To support a building and other structural surfaces within and outside of a home, hollow concrete blocks are used in construction to make floors, walls, footers, and foundations.
Regional Analysis
In terms of regions, Asia-Pacific is expected to remain the largest market for hollow concrete blocks during the forecast period, as a result of initiatives like the refurbishment and rehabilitation of existing structures, investments in the building and construction sector have increased, driving the demand for hollow concrete blocks in the region. In addition, growing public and private sector investments in infrastructure construction projects in developing nations such as China and India are anticipated to open up opportunities in the Asia-Pacific’s hollow concrete block market.
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Key Players
The market is highly populated with the presence of several local, regional, and global players. Most of the major players compete in some of the governing factors including price, product offerings, regional presence, etc. The following are the key players in the hollow concrete block market.
CEMEX S.A.B. de C.V
Xella Group
Brampton Brick
MIDLAND BRICK
Taylor Concrete Products Inc.
Research Methodology
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s hollow concrete block market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
What Deliverables Will You Get in this Report?
Key questions this report answers
Relevant contents in the report
How big is the sales opportunity?
In-depth Analysis of the Hollow Concrete Block Market
How lucrative is the future?
Market forecast and trend data and emerging trends
Which regions offer the best sales opportunities?
Global, regional, and country-level historical data and forecasts
Which are the most attractive market segments?
Market segment analysis and Forecast
Which are the top players and their market positioning?
Porter’s five forces analysis, PEST analysis, Life cycle analysis
What are the factors affecting the market?
Drivers & challenges
Will I get the information on my specific requirement?
10% free customization
Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Detailed profiling of additional market players (up to three players)
SWOT analysis of key players (up to three players)
Competitive Benchmarking
Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
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The growth in consumer demand for green buildings, along with advancements in raw sustainable materials sediments, and synthetic sand, has recently led to an increase in demand for hollow concrete blocks and has been shown to be the primary driver in the hollow concrete block market.
CEMEX S.A.B. de C.V, Xella Group, Brampton Brick, MIDLAND BRICK, and Taylor Concrete Products Inc. are the leading players in the hollow concrete block market.
Asia-Pacific is estimated to remain dominant in the hollow concrete block market in the foreseeable future. The key economies driving the region’s demand are China and India.
Split-faced is expected to be the dominant product type segment of the hollow concrete block market. Commercial projects like municipal structures, schools, and theatres are built with split-faced hollow concrete blocks. They are also employed as load-bearing walls or veneers, which fit in well with other architectural block treatments, particularly in non-residential or commercial settings.
Due to the extensive use of hollow concrete blocks in residential building and renovation, the residential segment is expected to be the dominant segment in the coming years.
