In the year 2020, the outbreak of the COVID-19 pandemic hit hard the construction industry. Supply chain disruption, suspension of infrastructure and commercial projects, limited demand for new buildings, labor and material shortages, and lockdowns across the world were some of the major consequences of the Covid-19 pandemic. The mechanical anchor market was no exception to it and the impact of the pandemic has been recorded across the supply chain including the demand for mechanical anchors, with a decline of -9.0% in 2020.
However, the market got recovered from the disruption brought by the COVID pandemic in the year 2021 due to a revival in consumer confidence, economic recovery, inline construction and infrastructure projects, and supply chain on track. The mechanical anchors market is estimated to grow at a healthy CAGR of 4.8% during the forecast period to reach a value of US$ 2.8 Billion in 2027. Major factors, such as the growing construction industry and increasing spending on infrastructure development are likely to be the major demand generators for mechanical anchors during the forecast period. In addition, rapid urbanization and industrialization, population growth, and a rise in disposable income are further expected to fuel the growth of the mechanical anchors market.
_40770.jpg "Mechanical Anchor Market Graphical Representation")
Our Clients
WE ACCEPT
