Screw Piles Market to Reach US$ 1.56 Billion with a 5.5% CAGR by 2031 - Analysis by TMR

The global screw piles market, valued at US$ 928.9 Mn in 2021, is projected to grow at a CAGR of 5.5% from 2022 to 2031, reaching an estimated value of US$ 1.56 Bn by the end of 2031. The market's growth is driven by increasing construction and infrastructure development activities worldwide. Screw piles, also known as screw anchors, helical piles, and helical anchors, are foundation underpinning elements made from steel shafts with helical flights, used for building deep foundations. These elements are cost-effective and can be installed with high speed and accuracy, making them a preferred choice in various construction projects.

Explore pivotal insights and conclusions from our Report in this sample - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=62964

Market Size and Growth

The construction industry is experiencing rapid growth, particularly in urban areas, leading to a significant demand for residential and non-residential buildings. Developing nations are investing heavily in construction projects to boost their economies, further driving the demand for screw piles. The robust growth in residential, non-residential, and industrial sectors is anticipated to fuel the screw piles market over the next few years. Screw piles provide unparalleled stability, even in poor soil quality and on inclines, making them essential for supporting existing and new structures. Their ability to help buildings withstand harsh weather conditions, such as tornadoes and earthquakes, enhances their market demand.

Market Segmentation

In terms of types, the global screw piles market is segmented into SS-RS combinations type screw piles, SS (square shaft) type screw piles, RS (round shaft) type screw piles, and helical grouted displacement piles (HGD piles). Among these, the RS (round shaft) type screw piles segment is expected to dominate the market during the forecast period. Round shaft screw piles offer better structural load-bearing capacity due to their wider diameter and high section modulus strength, which resists twisting and deflection. These attributes make round shaft screw piles highly preferred in various industries, including construction and agriculture, driving their demand in diverse end-use applications.

Discover essential conclusions and data from our Report in this sample - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=62964

Regional Analysis

North America is projected to dominate the global screw piles market during the forecast period, registering the highest CAGR. The region's demand for quick installation, cost-effective, and high-quality load-bearing anchors is expected to drive market growth. The increase in construction activities in North America and the adoption of screw piles provide lucrative opportunities for market players. The U.S. is anticipated to hold a major market share due to the rise in residential and non-residential construction activities. In the Asia Pacific region, China is expected to invest over US$ 5.13 trillion in construction activities in the coming years, further boosting the market growth.

Market Drivers and Challenges

The rise in construction and infrastructure development activities globally is a significant driver for the screw piles market. The advantages of screw piles, such as load-bearing capacity, minimal site disturbance, immediate load-carrying capability, and quick installation, contribute to their growing demand. However, the volatility in global prices of raw materials used in construction activities poses a challenge to the market. Manufacturers need to focus on innovation and research & development to cater to the evolving demands of various end-use industries and overcome this challenge.

Market Trends

Manufacturers are emphasizing innovation and research & development to create advanced screw piles that meet the specific needs of different industries. The development of RS (round shaft) type screw piles with enhanced structural load-bearing capacity is a notable trend in the market. Additionally, the increasing use of screw piles in construction projects in seismic areas and electric transmission line towers is driving market growth. The trend towards sustainable and cost-effective construction solutions is also contributing to the rising demand for screw piles.

Competitive Landscape

The global screw piles market is fragmented, with numerous companies controlling the market share. Key players are adopting strategies such as expanding product portfolios, investing in R&D, forming collaborations, partnerships, and engaging in mergers & acquisitions to strengthen their market position. Prominent players in the market include Almita Piling Inc., Hubbell Incorporated, TorcSill Foundations LLC, Earth Contact Products, GoliathTech Corporation, Pier Tech Systems LLC, Supportworks, Inc., Techno Metal Post Inc, Patriot Foundation Systems, and Magnum Piering Inc. These companies are focusing on recent market trends and collaborating with various vendors, distributors, and companies to enhance their business growth.

Buy this Premium Research Report and explore vital industry trends - https://www.transparencymarketresearch.com/checkout.php?rep_id=62964<ype=S

Future Outlook

The screw piles market is poised for significant growth in the coming years, driven by the increasing construction and infrastructure development activities worldwide. The demand for innovative and cost-effective foundation solutions will continue to rise, providing opportunities for manufacturers to develop advanced screw piles with better load-bearing capacities and quick installation features. The focus on sustainable construction practices and the growing adoption of screw piles in diverse industries will further propel market growth. Manufacturers should leverage these opportunities to expand their market share and achieve long-term success.

More Trending Reports by Transparency Market Research -

Tennis Ball Machines Market: https://www.transparencymarketresearch.com/tennis-ball-machines-market.html

Livestream E-Commerce Market: https://www.transparencymarketresearch.com/livestream-e-commerce-market.html

About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

Contact:

Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Email: sales@transparencymarketresearch.com

This release was published on openPR.