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Pervious Pavement Market worth 22.17 Billion USD by 2026
The report "Pervious Pavement Market by Application (Hardscape and Floors), Material (Pervious Concrete, Porous Asphalt, and Interlocking Concrete Pavers), Design (Hydrological and Structural) - Global Forecast to 2026", The pervious pavement market size is estimated to grow from USD 12.13 Billion in 2015 to USD 22.17 Billion by 2026, at a CAGR of 5.7%.
Browse 113 market data tables and 38 figures spread through 153 pages and in-depth TOC on “Pervious Pavement Market by Application (Hardscape and Floors), Material (Pervious Concrete, Porous Asphalt, and Interlocking Concrete Pavers), Design (Hydrological and Structural) - Global Forecast to 2026”
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The pervious pavement market is projected to witness significant growth in the next few years with the increasing demand for new constructions all over the world due to rapid urbanization and industrialization with large-scale investments in industrial and infrastructure sectors. Rising construction activities in emerging economies and increasing inclination toward sustainable construction methods are increasing the reliance on modern construction techniques, thus creating growth opportunities for the market.
Pervious concrete construction to gain maximum traction from 2016 to 2026.
The pervious concrete segment dominated the market in 2015 and is projected to be the fastest-growing material segment in the next ten years. As a result of the rising urbanization and industrialization, this market is mostly driven by the upward surge in the demand for new constructions all over the world. Rising public and private investment in the infrastructure sector in the emerging economies of Asia-Pacific, the Middle East, and Latin America are drivers of this growth.
Pervious pavements find its largest application in the hardscape segment.
In terms of application, the hardscape segment led the pervious pavement market in 2015; it is projected to grow at the highest CAGR from 2016 to 2021 and is expected to remain the largest through 2026. The CAGR over the next ten years is projected to be higher, as hardscapes are highly exposed to rain and snow falls and the use of pervious pavements to build these structures offers superior utility with regard to reduced runoff and stormwater management.
The Europe region constitutes the largest market share in the pervious pavement market
Europe contributes a major market share in the global pervious pavement market. However, the European market is projected to grow at a comparatively lower rate than the other region as a result of weak construction demand in the region due to sub-performing economic condition. North America is projected to register the highest growth from 2016 to 2021, wherein the U.S. is projected to be fastest-growing country-level market in the region for pervious pavement market. The Asia-Pacific region is projected to grow at the second-highest growth rate between 2016 and 2021, with Australia registering the highest growth rate in the region. Emerging economies such as China, India, Russia, Brazil, and countries in the Middle East are projected to grow at moderate CAGRs between 2016 and 2021.
The major players in the pervious pavement market include LafargeHolcim (Switzerland), CEMEX, S.A.B. de C.V. (Mexico), CRH plc (Ireland), BASF SE (Germany), Sika AG (Switzerland), UltraTech Cement Limited (India), Boral Limited (Australia), Balfour Beatty plc (U.K.), Raffin Construction Co. (U.S.), and Chaney Enterprises (U.S.).
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