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Shotcrete Market Is Driven By Underground Constructions Industry And A Range Of Applications
The Shotcrete Market is contemplating high research activities to create new equipment to minimize human effort. One of the major problems is the wide price range that makes material choosing very difficult and hard to derive optimal cost effectiveness.
Globally, shotcrete is used to construct key infrastructure assets that ensures quality and reduces lead time for construction. Financial benefits accrued by using shotcrete in projects are substantial, as it offers multi-fold benefits and decreases their overall cost. Shotcrete has gained importance in the recent past due to increasing demand by end user applicants.
With growing population and economic development around the world, the problem of providing sustainable transportation infrastructure has been a key bottleneck. With increasing traffic, dependency on underground transportation has been the norm of the day in many countries. Mining companies are now exploring deeper contours to meet the increasing demand for minerals, which presses the need for shotcrete application to support rock, providing stability and safety.
Hence, Shotcrete/Sprayed Concrete Market companies are leveraging this demand by providing advanced equipment and materials capable of performing in all the end userapplications with growing demand.
In 2012, Europe was the largest market for underground construction accounting for 37.7% of the overall shotcrete market by revenue. Asia-Pacific and North America together accounted for 40.8% of the global shotcrete market revenue in 2012.
The Latin America and Middle East shotcrete market is expected to continue to increase substantially during the next five years on the back of few key infrastructure developments taking place in these regions.
In 2012, underground construction dominated the overall global shotcrete market and accounted for 52.7% of the total market share. Water retaining structures industry is expected to drive the implementation of the shotcrete in the market during the next five years.
Marketsandmarkets.com provides the basic information of its latest research report.
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