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North America Geogrid Market
North America Geogrid market report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, and major segments.
Surge in infrastructure development activities across the U.S. and Mexico drives the growth of the North America Geogrid Market.” - Eswara Prasad
WILMINGTON, DELAWARE, UNITED STATES, February 21, 2024 /EINPresswire / -- As per the latest report published by Allied Market Research, North America Geogrid Market size is anticipated to surpass USD 408.3 million by 2027 and to grow at 7% CAGR from 2020 to 2027. Surge in infrastructure development activities across the U.S. and Mexico drives the growth of the North America Geogrid Market. U.S. contributed the highest share in 2019, and will maintain its dominance throughout the forecast period. Geogrid manufacturers across the North America region have halted their production due to disrupted supply chain amid lockdown due to the Covid-19 pandemic.
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Based on type in the North America Geogrid Market, the biaxial segment contributed to the largest share in 2019, accounting for more than four-fifths of the total share, and is estimated to maintain its dominant position during the forecast period. In addition, it is also estimated to portray the highest CAGR of 7.0% during the forecast period.
By application, the road industry segment accounted for around 36.8% of the North America geogrids market share. This is owing to increase in road construction projects across the region, which boosts the demand for geogrid to strengthen the pavement support layers. Pavement support layers such as subgrade or subbase can be strengthened with the use of polymeric material geogrid, owing to its high tensile strength.
Based on North America Geogrid Market, the road industry segment accounted for the largest share in 2019, holding more than one-third of the total share, and is expected to maintain the largest share throughout the forecast period. However, the soil reinforcement segment is expected to register the highest CAGR of 7.3% from 2020 to 2027.
The North America geogrid market is segmented on the basis of type, application, and region. On the basis of type, the market is bifurcated into uniaxial and biaxial. By application, the market is segmented into road industry, rail road stabilization, soil reinforcement, and others. Based on country, the market is analyzed across the U.S., Canada, and Mexico.
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By Application
1. Road Industry
2. Rail Road Stabilization
3. Soil Reinforcement
4. Others
By Type
1. Uniaxial
2. Biaxial
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Top players in the North America Geogrid Market are Tensar Corporation, Carthage Mills, Properx Operating Company, Strata System, Maccaferri, Tdm Group, Tencate Geosynthetics, Synteen Technical Fabrics, Huesker US, and Layfield Group. Ltd.
Key Benefits For Stakeholders:
The report provides an in-depth analysis of the geogrid market trends along with the current and future North America geogrid market forecast.
This report highlights the key drivers, opportunities, and restraints of the market along with the impact analyses during the forecast period.
Porter's five forces analysis helps analyze the potential of the buyers & suppliers and the competitive scenario of the geogrid industry for strategy building.
A comprehensive geogrid market analysis covers factors that drive and restrain the North America geogrid market growth.
The qualitative data in this report aims on market dynamics, trends, and developments.
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David Correa
Allied Market Research
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