PUBLISHER: Stratview Research | PRODUCT CODE: 1107753
PUBLISHER: Stratview Research | PRODUCT CODE: 1107753
Anchors are used to connecting structural elements of base material to masonry and concrete in buildings and structures. The basic purpose of an anchor is to provide a means of attachment between two or more separate elements. Mechanical anchors use friction to anchor themselves in place. They are used to expand in diameter when they are pushed into the hole. This expansion grips the base material tightly and causes the anchor to be firmly wedged in place.
In the year 2020, the outbreak of the COVID-19 pandemic hit hard the construction industry. Supply chain disruption, suspension of infrastructure and commercial projects, limited demand for new buildings, labor and material shortages, and lockdowns across the world were some of the major consequences of the Covid-19 pandemic. The mechanical anchor market was no exception to it and the impact of the pandemic has been recorded across the supply chain including the demand for mechanical anchors, with a decline of -9.0% in 2020.
However, the market got recovered from the disruption brought by the COVID pandemic in the year 2021 due to a revival in consumer confidence, economic recovery, inline construction and infrastructure projects, and supply chain on track. The mechanical anchors market is estimated to grow at a healthy CAGR of 4.8% during the forecast period to reach a value of US$ 2.8 Billion in 2027. Major factors, such as the growing construction industry and increasing spending on infrastructure development are likely to be the major demand generators for mechanical anchors during the forecast period. In addition, rapid urbanization and industrialization, population growth, and a rise in disposable income are further expected to fuel the growth of the mechanical anchors market.
Based on the product type, the market is segmented as expansion anchor, screw anchor, undercut anchor, and others. Expansion anchor is expected to remain the largest as well as the fastest-growing segment of the market during the forecast period, owing to extensive usage in concrete and masonry substrates. In addition to that, increasing demand from various end-users due to reliability and wide applicability is further expected to propel the demand for expansion anchors during the forecast period.
Based on the substrate type, the market is segmented as concrete, masonry, natural stone, and others. Concrete is expected to remain the largest segment of the market during the forecast period. Concrete is the most commonly used construction material as it poses high compressive strength and durability.
Based on the end-user type, the market is segmented as infrastructure, commercial, residential, and industrial. Infrastructure held the largest share of the market, due to increased spending on infrastructure projects, a boost in infrastructure development, especially in emerging economies, coupled with urbanization, and economic expansion.
In terms of regions, Europe is expected to remain the largest market for mechanical anchors over the forecast period. Major factors such as increasing construction activities, growing disposable income, and rapid urbanization and industrialization are driving the region's market. In addition to that, Europe is home to leading players such as Hilti Group, Wurth Group, and Fischer Group. Asia-Pacific is expected to witness the highest growth during the same period due to major factors such as growing construction projects in the developing economies, rapid economic growth, and increasing population.
The mechanical anchors Market is moderately fragmented with the top five players securing a fair share in 2021. All the major mechanical anchor manufacturers have different growth strategies based on their synergies, product portfolio, market reach, geographical presence, and market positioning. However, some of the most common strategies adopted by them include new product developments, development of a vast product portfolio, and execution of M&As to quickly gain market share. For instance, Simpson Strong-Tie acquired Etanco Group in the year 2022.
The following are some of the key players in the mechanical anchors market:
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today's mechanical anchors market realities and future market possibilities for the forecast period of 2022 to 2027. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research's internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 12 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
The mechanical anchors market is segmented into the following categories: