Global Hollow Concrete Block Market

Hollow Concrete Block Market Size, Share, Growth Analysis, By Type(Split-Faced Concrete Blocks, and Smooth-Faced Concrete Blocks), By Application(Residential, Commercial) - Industry Forecast 2024-2031

Report ID: SQMIG15F2160 | Region: Global | Published Date: March, 2024
Pages: 157 | Tables: 62 | Figures: 68

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Hollow Concrete Block Market size was valued at USD 247.14 billion in 2022 and is poised to grow from USD 259.99 billion in 2023 to USD 390.02 billion by 2031, growing at a CAGR of 5.2% in the forecast period (2024-2031).

The competitive environment of the Hollow Concrete Block market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Established organizations within the industry leverage techniques inclusive of product innovation, strategic partnerships, and mergers and acquisitions to strengthen their market position. Additionally, the market is witnessing elevated opposition from local and neighborhood producers supplying cost-powerful options. 'Acme Brick Company', 'Brampton Brick Ltd.', 'CEMEX SAB de C.V.', 'CRH plc', 'Magicrete Building Solutions Pvt. Ltd.', 'BGC (Australia) PTY Ltd', 'Taylor Concrete Products Inc.', 'Tristar Brick and Block Ltd.', 'UltraTech Cement Ltd.', 'Ublok', 'MIDLAND BRICK', 'Tristar Brick and Block Ltd', 'Xella Group'

Growing Demand for Lightweight, Durable and Reliable Building Materials

The tremendous growth in the construction industry and widespread use of hollow concrete for construction of residential, commercial and industrial areas represents one of the major factors to drive the market growth across the globe. These walls are used for carrying loads in buildings to provide structural support and to support standing loads. They are stacked and bound with mortar, creating strong, sturdy walls. It is also used in fence construction to provide privacy and security. Furthermore, increasing renovation and development projects in restaurants, metro stations, cafes, resorts, homes, hotels, offices, malls, airports and educational institutions contribute to the growth of the market.

North America hollow concrete block market will dominate, owing to rise in construction and maintenance activity which fuels the growth of the market in this region. North America is the second largest region in this market. It is estimated to reach an expected value of US$190 billion (about $580 per person in the US) by 2030 at a CAGR of 4.5%. Due to increased construction and renovation activity in the area. Furthermore, increasing demand for housing coupled with increased government subsidies for residential construction in U.S.-owned countries is expected to boost growth. and Canada including in the hollow concrete market in the residential use segment will significantly benefit.

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Global Hollow Concrete Block Market

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