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Global Pervious Pavement Market to grow at a CAGR of 5.2% During 2021-2026, Driven by Government Initiatives and Investments in the Industry

According to a new report by EMR titled, ‘Global Pervious Pavement Market Report and Forecast 2021-2026’, the market attained a value of about USD 17 billion in 2020. The industry is further expected to grow at a CAGR of 5.2% in the forecast period of 2021-2026 to reach nearly USD 23 billion by 2026.

Europe is one of the dominating markets for pervious pavement, owing to significant investments in infrastructure redevelopment projects by both private and public organisations. Another significant market, North America, is expected to witness robust growth, owing to rise in new building constructions and infrastructural activities, along with high population and development in the region. With the growing momentum in the pervious pavement industry in the developed countries, the market for pervious pavement in the developing countries, such as India, China, South Africa, Russia, and the Middle East Companies are also expected to observe rapid growth in the coming years.

In August 2021, LafargeHolcim Ltd (SWX: HOLN) launched CementDirect Ready-mix concrete delivery app in the United States of America. This app consists of ordering, shipping, and tracking status for costomers. In the same month and year, Atlanta Power Infrastructure Ord Shs (OTCMKTS: AWSL) acquired a controlling interest in the K.B Industries UK Ltd’s, KBI’s Flexi®-Pave innovator and its related products. Earlier in September 2019, Greater Hyderabad Municipal Corporation had launched a ‘Model Pilot Project’ for pervious concrete road pavement in Telangana. In June 2019, EOS Eco-Energy, a non-profiting organisation based in Canada, announced a pilot project aimed at mitigating flooding in Sackville town of Canada. All these acquisitions and innovations are expected to augment the growth of the global pervious pavement industry.

Market Analysis by Type, Design, Application, End-User Industry, and Region:

  • The market, on the basis of type, can be divided into pervious concrete, porous asphalt, and porous brick.
  • Based on design, the industry can be segmented into hydrological and structure.
  • On the basis of application, the industry can be divided into building apartments, gardens and swimming pools, floors and parking spaces, roads and highways, sideways and footpaths, among others.
  • Based on end-user industry, the market can be segmented into apartment builders and road construction companies, among others.
  • The regional markets for pervious pavement are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • Rising new building constructions across the globe are providing impetus to the market growth.
  • Further, the increasing government investments in R&D are expected to augment the market growth over the forecast period.
  • An increase in industrialisation and urban population is expected to drive the market.
  • Moreover, acquisitions and innovations by major players are expected to boost the growth of the market.

Key Offerings of the Report:

  • The EMR report gives an overview of the global pervious pavement market for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the types, designs, applications, end-user industries, and regions of pervious pavement.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global market for pervious pavement are LafargeHolcim Ltd, Chaney Enterprises, Fred Adams Paving Co., Inc, Pervious Paving Contractors LLC, and Pervious Concrete, Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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