Market Research Report
Global Screw Piles Market - 2022-2029
|Global Screw Piles Market - 2022-2029|
Published: June 24, 2022
Content info: 200 Pages
Delivery time: 2 business days
The global screw piles market size was worth US$ XX million in 2021 and is estimated to reach US$ XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029).
Screw piles are steel screw-in piling and ground anchoring systems used to construct the buildings' deep foundations. They are primarily manufactured from high-strength steel by using distinct sizes of tubular hollow units for the pile or anchors shaft. It consists of a helix that enables the piles to be screwed inside the ground and it is similar to screwing into the wood. It may have more than one helix that depends on the usage and the ground conditions. It is generally specified to use more helices if a higher load is required or under softer ground conditions.
The installation of screw piles takes significantly less time and machinery and frequently costs less than the cost involved in installing the standard concrete foundation. The application areas of screw piles include residential, civil construction, rail, electric utility and telecommunications sectors. Screw piles can bear large tensile and compression loads, so they are frequently used for masts, signs and retaining structures.
The screw piles are also known by different names, including screw-piles, screw piers, screw anchors, screw foundations, helical piles, helical piers, or helical anchors. It can prevent a variety of diverse axial, uplift and shear forces. Additionally, bigger loads can be controlled by adjusting and increasing the pile diameter and wall thickness, size of helix plates and helix quantity on each pile. It is a cost-effective, removable and reusable solution that produces very low noise during its construction. It can be raked at angles up to 45 degrees and used in low temperatures where concrete cannot be used and is available for any soil requirement.
The growing expansion of the construction industry, especially in Asia-Pacific's emerging nations, is fueling the demand for screw piles. Additionally, increasing investment by the government in infrastructure and expansion of commercial sectors, which includes the areas, business parks, institutions and entertainment halls, is also fostering the market's growth during the forecast period.
Rise in demand for better load-bearing capacity and quick installation screw piles
The construction industry across the globe focuses on piles that can be easily installed and provides minimal site disturbance. The sectors such as marine, industrial, agricultural and defense are looking for innovative screw piles that can be easily installed and have high bearing capacity. Thus, rising demand for the screw piles from various industries for the ability to lower the carbon footprint and easy and faster installation is a major driving factor for the market's growth in upcoming years.
Limited number of suppliers in the market is a challenge for the growth of the market
The presence of a limited number of vendors and sellers in the market is creating a challenge in expanding the market during the forecast period. Additionally, fluctuation in raw materials prices hampers the market's growth in the upcoming years.
COVID-19 impact analysis
The global screw piles market has witnessed mixed growth during the forecast period. The outbreak of COVID-19 has resulted in the closure of important sectors, such as construction, railways, utility and bridges, which has resulted in the market's slowdown as the supply chain was altered. The raw material needed for screw piles was also hampered due to the breakdown of the supply chain due to the expansion of COVID-19, which has created challenges for the market's growth. Furthermore, there is an increased demand for screw piles in hospitals. Scew piles are perfect solutions because is their rapid installation and the ability to remove them when the hospitals do not require them effortlessly. Thus, the market is witnessing mixed growth amidst the outbreak of COVID-19.
The global screw piles market is segmented into type, application and region. It is segmented into agriculture, bridges, construction, marine, railways, roadway, utility and others. The construction segment is expected to be the leading segment during the forecast period. The high application of screw piles in the construction of hospitals and commercial buildings is a major driving factor aiding the market's growth in upcoming years. Additionally, increasing construction sectors in emerging nations are creating an opportunity for vendors to increase their market share, aiding the market's growth.
North America is expected to hold the largest screw piles market due to highly developed industries, such as healthcare, construction, roadways and infrastructure, which aid the growth of the market in the region. Furthermore, increasing demand for the screw piles that require easy installation and can be removed when there is no requirement also enhances the market's growth.
Asia-Pacific is expected to witness the highest CAGR during the forecast period. The rising expansion of construction, railways and roads in the countries such as China and India is leading to the increased demand for screw piles, which is aiding the market's growth.
The global screw piles market is highly competitive as the major screw piles manufacturers have a diverse portfolio of screw piles for various applications. Some of the major players contributing to the growth in the segment are Almita Piling Inc., Hubbell Incorporated, TorcSill Foundations LLC, Goliathtech Inc., Magnum Piering Inc., Earth Contact Products, Pier Tech Systems LLC, Supportworks, Inc., Techno Metal Post Inc. and Patriot Foundation Systems. The significant players adopt several growth strategies such as new product launches, acquisitions, joint ventures and collaborations, contributing to global growth in the industry.
Overview: The company was founded in 1888 and incorporated in 1905. It designs, manufactures and sells electrical and electronic products for construction, industrial and utility applications. It has more than 75 brands across the globe and it has two basic operating segments, including electrical solutions and utility. Hubell is listed on New York Stock Exchange (NYSE) and has 19,300 employees, 53 manufacturing locations, 14 distribution centers and operations in 10 countries across the globe.
Product Portfolio: Helical Piles & Anchors are used for deep foundations and have application in expansive soils, high water tables, fill areas and other areas where unstable soils require piling. The shafts are of two types: type SS (Square Shaft) series or Type RS (Round Shaft) series.
Key Developments: On 21st December 2021, the company sold its commercial and industrial lighting business to GE Current. It is a strategic decision focused on higher growth and margin characteristics.
Visualize the composition of the screw piles market segmentation by type, application and region, highlighting the critical commercial assets and players.
Identify commercial opportunities in the screw piles market by analyzing trends and co-development deals.
Excel data sheet with thousands of screw piles market-level 4/5 segmentation data points.
PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
Product mapping in excel for the critical product of all major market players
The global screw piles market report would provide an approx.: 53 market data tables, 52 figures and 200 pages.
Target Audience 2022
Industry Investors/Investment Bankers
Education & Research Institutes
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