The growth in expenditure by the government for infrastructural development along with the reduction in expenses due to the usage of post-tensioning systems drive the growth of the post-tensioning systems market.
WILMINGTON, Del., Nov. 20, 2023 /PRNewswire/ — Allied Market Research published a report, titled, “Post-Tensioning Systems Market By Structure Type (New Structures, Structure Repairing), Type (Bonded, Unbonded), and Application (Building, Bridge – Internal Post-Tensioning, Bridge – External Post-Tensioning, Energy And Power Industry, Others): Global Opportunity Analysis And Industry Forecast, 2023-2032″. According to the report, the global post-tensioning systems market was valued at $12,166.5 million in 2022 and is projected to reach $26,880.1 million by 2032, registering a CAGR of 8.2% from 2023 to 2032.
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Prime determinants of growth
The rise in spending by the government for promoting infrastructural development drives the post-tensioning systems market. However, the lack of skilled workforce restricts the market growth. On the contrary, strong economic growth in developing and developed countries presents new opportunities in the coming years.
Report coverage & details:
|
Report Coverage |
Details |
|
Forecast Period |
2023–2032 |
|
Base Year |
2022 |
|
Historic Period |
2022 |
|
Market Size in 2022 |
$12,166.5 million |
|
Market Size in 2032 |
$26,880.1 million |
|
CAGR |
8.2 % |
|
No. of Pages in Report |
185 |
|
Segments covered |
Structure Type, Type, Application, and Region. |
|
Drivers |
Increase in government expenditure for infrastructural development Reduction of expenses such as maintenance cost, labor cost, and operational costs |
|
Opportunities |
Strong economic growth in developing and underdeveloped countries |
|
Restraints |
Lack of skilled labor |
The new structures segment to maintain its leadership status throughout the forecast period
Based on structure type, the new structures segment held the highest market share in 2022, accounting for more than four-fifths of the Post-Tensioning Systems market revenue, and is estimated to maintain its leadership status throughout the forecast period owing to increase in demand for cost-effective and sustainable construction solutions. In addition, in new construction activities, post-tensioning systems are effective in the construction of beams and slabs of buildings as well as large tanks for the energy & power sector. Rapid industrialization and urbanization in emerging countries such as China, Brazil, and India will lead to increase in demand for post-tensioning systems, as there are numerous development plans for roads, dams, and power generation infrastructures. On the other hand, the structure repairing segment is projected to manifest the highest CAGR of 8.9% from 2023 to a rise in awareness regarding the economic and safety benefits of maintaining and extending the service life of existing infrastructure propels the growth of the market during the forecast period. In addition, aging post-tension structures face corrosion, deterioration, and structural deficiencies. Many builders, government, and asset owners are increasingly investing in repair and rehabilitation to ensure the safety and functionality of crucial infrastructure.
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The bonded segment to maintain its leadership status throughout the forecast period
Based on type, the bonded segment held the highest market share in 2022, accounting for more than two-thirds of the post-tensioning systems market, and is estimated to maintain its leadership status throughout the forecast period. The bonded post-tensioning system market is growing as a result of the use of bonded systems in a variety of infrastructure sectors, including the building of bridges, slabs, and the energy & power industry. However, the unbonded segment is projected to witness the highest CAGR of 8.7% from 2023 to 2032 as the unbonded post-tension system offers great flexibility and adjustability during the construction process. This flexibility allows for more precise tension adjustment, making them suitable for a wide range of applications, including buildings, parking structures, and bridges.
The bridge-internal post tensioning segment to maintain its lead position during the forecast period
Based on application, the bridge-internal post-tensioning segment accounted for the largest share in 2022, contributing for less than three-fifths of the post-tensioning systems market revenue, and is projected to maintain its lead position during the forecast period. Systems for internal post-tensioning are robust, dependable, and corrosion-proof. Internal post-tensioning methods make bridge construction safer and more enduring. Companies that provide post-tensioning systems, such as DYWIDAG and VSL International Ltd., provide internal post-tensioning technology to build bridges, propelling the post-tensioning systems market globally. However, the bridge-external post-tensioning segment is expected to portray the largest CAGR of 9.6% from 2023 to 2032. External post-tensioning is effective in the renovation and repair of old bridges. Furthermore, several new development projects are being planned in Africa. For instance, in October 2022: Nigeria’s Lagos state government started the construction of a new airport in the Lekki-Epe region. Construction on the new airport facility, which covers 3,500 hectares, is scheduled to start in 2023. Thus, an increase in the number of such projects is anticipated to create a huge demand for external post-tensioning systems in the market during the forecast period.
North America to maintain its dominance by 2032
Based on region, North America held the highest market share in terms of revenue in 2022, accounting for nearly two-fifths of the global post-tensioning systems market revenue, as the rise in government initiatives and investments in the construction of bridges, water infrastructure, and other infrastructure in the U.S. is expected to drive the post-tensioning system market growth. In addition, the rapid development of commercial infrastructure construction and old construction repair need post-tensioning systems to impart strength to the constructed infrastructure propel the growth of the market. However, LAMEA is expected to witness the fastest CAGR of 9.8% from 2023 to 2032. In the LAMEA region, the market is being driven by factors such as the expansion of the construction sector, growth in urbanization, and technological advances. Furthermore, by 2050, the urban population is expected to increase; also, an increase in lifestyle, particularly in emerging nations, encourages the development of renovation projects.
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Leading Market Players: –
- AMSYSCO INC.
- BBV SYSTEMS GMBH
- VSL INTERNATIONAL LTD.
- DYWIDAG
- KELLER GROUP PLC. (SUNCOAST POST-TENSION)
- LIUZHOU OVM MACHINERY CO., LTD.
- SOLETANCHE FREYSSINET (FREYSSINET)
- SRG GLOBAL
- TENDON LLC
- TMG GLOBAL PTE LTD.
The report provides a detailed analysis of the key players in the post-tensioning systems market. These players have adopted different strategies such as new product launches, expansion, and acquisitions to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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