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Geocells Market Dynamics and Forecast Report 2024
Geocells Market Dynamics
According to The Business Research Company's, The geocells market size has grown strongly in recent years. It will grow from $1.95 billion in 2023 to $2.09 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to infrastructure development, environmental concerns, government regulations, cost-effectiveness, increasing awareness.
The geocells market size is expected to see strong growth in the next few years. It will grow to $2.8 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to climate change adaptation, smart cities initiatives, erosion control demands, increasing construction activities. Major trends in the forecast period include technological innovations, technological advancements, integration of geosynthetics in construction practices, technological innovations and digitization, advancements in material technology.
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Market Drivers and Trends:
The growing construction projects is expected to propel the growth of the geocells market going forward. Construction projects refer to the systematic process of constructing, repairing, refurbishing, retrofitting, or adapting a building, or other built asset such as a tunnel or bridge. In construction projects, geocells are projected to be important to protect channels, maintain soil, and decrease floods. For instance, in March 2023, according to Zippia, a US-based technology, information, and internet company, in January 2023, 1.4 million new construction projects were completed, which is a 12.8% increase, compared to January 2022. Therefore, the growing construction projects is driving the growth of the geocells market.
Technological advancements are a key trend gaining popularity in the geocell market. Companies operating in the geocells market are adopting new technologies to sustain their position in the market. For instance, in July 2022, Presto Geosystems, a US-based real estate builder, and construction company launched ATRA wall key technology. ATRA wall key is the quickest and easiest way to join the GEOWEB Retaining Wall parts. The wall keys are the only geocell connector especially made for use in exposed wall face applications that are made of inactive, chemically inactive high-density polyethylene and offer a more stable and long-lasting mechanical connection than bolts or zip ties.
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• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
Presto Geosystems; Strata Systems; Armtec Infrastructure; Maccaferri SPA; Polymer Group Ltd; TMP Geosynthetics; Wall Tag Pte Ltd.; Tensar International; PRS Geo- Technologies; Terram Geosynthetics; TenCate Geosynthetics; Miakom Group; ACE Geosynthetics; Officine Maccaferri; Polyfabrics Australasia Pty Ltd.; HUESKER Synthetic GmbH; Atarfil; ABG Geosynthetics; Asahi Kasei; CeTeau Group; Titan Environmental Containment; Carthage Mills; Wrekin Products Ltd.; Hindustan National Glass & Industries Ltd.; TechFab India Industries Ltd.; BOSTD Geosynthetics Qingdao Ltd.; AllianceGeo Inc.; GPT Industries
Geocells Market 2024 Key Insights:
• The geocells market will grow to $2.8 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%.
• Construction Boom Ignites Geocells Market Growth With The Impact Of Surging Construction Projects
• Innovative Solutions For Enhanced Stability
• Asia-Pacific was the largest region in the geocells market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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