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Bridge Cable Sockets Market Coming up Trends and Active Company Revenue Forecast through 2017-2028

02-03-2020 11:06 AM CET | Industry, Real Estate & Construction

Press release from: Fact.MR

Bridge Cable Sockets Market Coming up Trends and Active Company

The Fact.MR report tracks the bridge cable sockets market for the period 2018-2028. According to the report, the bridge cable sockets market is projected to grow at 5.3% CAGR through 2028. According to a recent report of Fact.MR, the bridge cable sockets market is expected to continue its bullish run, with the sales of bridge cable sockets poised to surpass 30000 units in 2019. The surge in sales of bridge cable sockets can be attributed to an assortment of factors such as the resurgence in construction and infrastructure developmental activities worldwide.

Numerous studies working towards developing techniques for the construction of durable and more stable suspension and cable-stayed bridges are expected to complement growth of the bridge cable sockets market. One of the significant shortcomings of the current cable-stayed and suspension designs are their limited lengths. Both suspension and cable-stayed bridges are optimal for short spans of length, however, innovations in the area are soon expected to aid in resolving these drawbacks.

A development complementing the widespread adoption of suspension and cable-stayed bridge designs around the world is the wind tunnel tests aimed at testing impact of aerodynamic forces. Additionally, the leverage of technologies such as machine learning and artificial intelligence in developing software development that can simulate and predict the impact of different environmental conditions on the structure continues to complement demand for bridge cable sockets. According to the report, nearly 45% of the bridge cable sockets manufactured in 2019 are expected to be used in the construction of cable-stayed and suspension bridges.

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Cable Systems Replacing Tension Rod Systems in Bridge Construction

Tension rods have gained widespread traction in bridge construction, owing to their effective load distribution over long distances. However, studies suggest that damage to connectors used in the mechanism can substantially increase the risk of bridge collapse. Additionally, the system has been linked to failure below intended loads. This has led to adoption of bridge cable sockets as an effective replacement for tension rod systems, with growing number of incidences alluding failure risks associated with the latter.

Growing concerns regarding the effectiveness of tension rod systems and connectors are likely to complement adoption of cable systems worldwide, in turn contributing to growth of the bridge cable sockets market. Fact.MR estimates the sales of new bridge cable sockets to exceed 23,500 units in 2019.

Sustainability-Driven Efforts of Governments to Emerge as Key Growth Determinant

Potential decrease in steel and wrought iron production is estimated to dampen manufacturing of bridge cable sockets, which are primarily manufactured using the two materials. Imposition of stringent government regulations on carbon dioxide emissions and emergence of social movements for environmental betterment are key factors impeding steel and iron production, with these industries accounting for over one-third of carbon dioxide emissions.

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A gradual shift towards sustainable practices can potentially create a surge in the prices of the materials, which, in turn, could have an adverse impact on the bridge cable sockets market. However, the development of materials such as carbon fiber and alumina-polymer composites offers a lucrative alternative to steel and iron owing to their high tensile strength, lightweight, durability, and relatively environmentally-friendly nature. Additionally, intensifying research for cost-effective production of these materials is expected to benefit bridge cable sockets manufacturers in the foreseeable future.

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About Fact.MR

Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.

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