Product Code: CMI280
The Shotcrete Market size is valued at US$ 7.32 Bn in 2024 and is expected to reach US$ 11.68 Bn by 2031, growing at a compound annual growth rate (CAGR) of 6.9% from 2024 to 2031.
Report Coverage |
Report Details |
Base Year: |
2023 |
Market Size in 2023/2024: |
US$ 7.32 Bn |
Historical Data for: |
2019 to 2023 |
Forecast Period: |
2024 - 2031 |
Forecast Period 2023/2024 to 2030/2031 CAGR: |
6.90% |
2030/2031 Value Projection: |
US$ 11.68 Bn |
Figure 1. Shotcrete Market Share (%), By Region, 2024
Shotcrete, also known as sprayed concrete, is a concrete application technique wherein the material is projected at high velocity via spraying equipment onto a surface such as walls, floors, or ceilings to build or repair structures. It is a versatile method used in construction for tunneling, underground applications, mining works, repair works, and others. Some key advantages of shotcrete include its ability to be applied in all weather conditions, onto any surface profile, provides high strength, and can be applied faster than conventional concrete placement methods. Shotcrete, commonly known as gunite or sprayed concrete, is a widely used construction technology in which mortar or concrete is driven through a hose and pneumatically projected at high velocity through a nozzle on a vertical surface. Concrete is generally reinforced by conventional steel mesh, steel rods, or fibers. Cement gun is mostly used in the dry mix process, while true gun method is used in the wet mix process in an application of sprayed concrete. Shotcrete has properties, including good water-concrete ratio, excellent strength, high density & permeability, freeze & thaw resistance, high adhesion & bond strength, and thickness.
Market Dynamics:
The global Shotcrete market is driven by factors such as the growing construction industry and increasing usage of Shotcrete in mining and tunneling activities. Shotcrete requires less labor and curing time compared to conventional cast-in-place concrete. It can be easily applied on difficult terrains. These advantages are boosting the demand from the construction industry. However, high initial investments for machinery and raw materials is a major restraint. Growing infrastructure development projects in emerging nations presents immense opportunity for market players. Investments in rail, road, and mining projects bode well for the Shotcrete demand. Technological advancements lowering the dosage of cement and increasing the Shotcrete strength will further provide impetus to the market growth over the forecast period.
Key Features of the Study:
- This report provides an in-depth analysis of the Shotcrete market, and provides market size (US$ Bn) and compound annual growth rate (CAGR %) for the forecast period (2024-2031), considering 2023 as the base year.
- It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market.
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players.
- It profiles key players in the Shotcrete market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies.
- Key companies covered as a part of this study include - BASF SE, Heidelberg Cement, Grupo ACS, Lafargeholcim, Cemex, Sika AG, GCP Applied Technologies, U.S. Concrete, Mapei, and Normet.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up gradation, market expansion, and marketing tactics.
- The Shotcrete market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the Shotcrete market.
Detailed Segmentation:
- Shotcrete Market, By Process
- Shotcrete Market, By System
- Shotcrete Market, By Application
- Underground Construction
- Water Retaining Structures
- Repair Works
- Protective Coatings
- Shotcrete Market, By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East
- Africa
- Top Companies in the Shotcrete Market
- BASF SE
- Heidelberg Cement
- Grupo ACS
- Lafargeholcim
- Cemex
- Sika AG
- GCP Applied Technologies
- S. Concrete
- Mapei
- Normet
Table of Contents
1. Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
2. Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Process
- Market Snippet, By System
- Market Snippet, By Application
- Market Snippet, By Region
- Coherent Opportunity Map (COM)
3. Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Increasing construction activities
- Rising commercial and public infrastructure projects
- Technological advancements in Shotcrete machines and equipment
- High capital requirement for machinery and equipment
- Lack of skilled workforce
- Applications in repair and rehabilitation projects
- Investments in R&D activities
- Growth in emerging markets
- Key Highlights
- Regulatory Scenario
- Recent Trends
- Product Launches/Approvals
- PEST Analysis
- PORTER's Analysis
- Mergers, Acquisitions, and Collaborations
4. Global Shotcrete Market- Impact of Coronavirus (COVID-19) Pandemic
- COVID-19 Epidemiology
- Supply Side and Demand Side Analysis
- Economic Impact
5. Global Shotcrete Market, By Process, 2019-2031, (US$ Bn)
- Introduction
- Market Share Analysis, 2024-2031(%)
- Y-o-Y Growth Analysis, 2020-2031
- Segment Trends
- Wet-Mix
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031,(US$ Bn)
- Dry-Mix
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031,(US$ Bn)
6. Global Shotcrete Market, By System, 2019-2031, (US$ Bn)
- Introduction
- Market Share Analysis, 2024-2031(%)
- Y-o-Y Growth Analysis, 2020-2031
- Segment Trends
- Robotic
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031,(US$ Bn)
- Manual
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031,(US$ Bn)
7. Global Shotcrete Market, By Application, 2019-2031, (US$ Bn)
- Introduction
- Market Share Analysis, 2024-2031(%)
- Y-o-Y Growth Analysis, 2020-2031
- Segment Trends
- Underground Construction
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031,(US$ Bn)
- Water Retaining Structures
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031,(US$ Bn)
- Repair Works
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031,(US$ Bn)
- Protective Coatings
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031,(US$ Bn)
8. Global Shotcrete Market, By Region, 2019-2031, (US$ Bn)
- Introduction
- Market Share Analysis, By Region, 2024-2031(%)
- Y-o-Y Growth Analysis, For Region, 2020-2031
- Country Trends
- North America
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Process, 2019-2031,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By System, 2019-2031,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Application, 2019-2031,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2019-2031,(US$ Bn)
- U.S.
- Canada
- Europe
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Process, 2019-2031,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By System, 2019-2031,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Application, 2019-2031,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2019-2031,(US$ Bn)
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Process, 2019-2031,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By System, 2019-2031,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Application, 2019-2031,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2019-2031,(US$ Bn)
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Latin America
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Process, 2019-2031,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By System, 2019-2031,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Application, 2019-2031,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2019-2031,(US$ Bn)
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Middle East
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Process, 2019-2031,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By System, 2019-2031,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Application, 2019-2031,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2019-2031,(US$ Bn)
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Process, 2019-2031,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By System, 2019-2031,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Application, 2019-2031,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country/Region, 2019-2031,(US$ Bn)
- South Africa
- Central Africa
- North Africa
9. Competitive Landscape
- Company Profile
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Strategies
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Strategies
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Strategies
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Strategies
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Strategies
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Strategies
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Strategies
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Strategies
- Analyst Views
10. Section
- References
- Research Methodology
- About us