The Europe steel piles market was valued at USD 6,918.1 Million in 2019 and is projected to reach USD 7,826.1 Million by 2027, expanding at a CAGR of 2.4% during the forecast period. The number of construction and developments activities is increasing at a rapid pace globally owing to the increase in urbanization and globalization. This, in turn, is fueling the requirement for rigid foundation solutions for superstructures, thus driving the demand for steel piles. Steel piles play a vital role in several construction industries due their ability to provide a rigid structure. Several types of steel piles that are used for applications such as ports & harbors, urban civil engineering, and bridges. These piles can be used for piers, seawalls, cofferdams, groynes, and other groundworks. Additionally, rise in trade among the countries in Europe is boosting for various infrastructure developments. This, in turn, is projected to fuel the demand for steel piles.
Rising demand for steel pipe piles in various applications such as urban civil engineering and bridge engineering is driving the Europe steel piles market. Steel piles offer a large bearing capacity and can penetrate through stiff layers or boulders. Additionally, steel piles are capable of withstanding rough handling. Moreover, the volume of soil displaced during the driving of steel piles is less.
Soil displacement, high initial costs, and additional requirements such as the prevention of deterioration associated with steel piles are major factors hampering the market. Advancements in technology such as the use of advanced fiber optic sensors in pile instrumentation is a major factor creating opportunities in the market.
Steel pile consumption increased due to growing population, increasing development of infrastructure, and the substitution of many metals with steel piles in various end-uses, such as railway and bridges. This is expected to drive the market growth in during the forecast period.
On the basis of product types, the Europe steel piles market is segregated into steel sheet piles, steel pipe piles, and steel pipe sheet piles. The steel sheet pile segment held 54.5% share of the market in 2019 due to the use of steel sheet piles in building a continuous wall structure having its primary applications in ports & harbors. The steel pipe piles segment is anticipated to expand at a CAGR of 2.7% during the forecast period owing to its ability to provide a rigid foundation to the superstructures.
Based on applications, the market is segmented into ports/harbors, urban civil engineering, bridges, and others. The urban civil engineering segment is projected to hold a major share of the market during the forecast period owing to high investments in several infrastructure developments activities in the country. Steel piles are easier to install and can reach great depths as compared to other types of pile foundations. Therefore, the demand for these piles is increasing significantly in the civil engineering sector.
In terms of countries, the market is fragmented into Germany, France, Italy, the UK, Spain, Russia, and Rest of the Europe. Germany is a promising country for the market in the region. The nation constitutes around one fourth share of the market in 2020. The market in the country is projected to expand at a CAGR of 2.8% during the forecast period. Increasing infrastructure developments such as buildings, bridges, and docks is a major factor driving the market in the country. The market in Italy is projected to expand at a CAGR of 2.7% due to increasing road and highway construction in the country.
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Yes, the report covers product specific information such as development & advancements, etc.
According to this Growth Market Reports report, the market for steel piles in Europe is likely to register a CAGR of 2.4% during forecast period 2020-2027, with an anticipated valuation of USD 7,826.1 million by the end of the 2027.
In addition to market size (in USD Million) and Company Market Share (in % for base year 2019), other data such as volume analysis for year 2017 to 2027 (estimated pricing analysis) and short-term & long-term outlook for steel piles market is available in final report.
The rising urban civil engineering and growth in infrastructure projects in the country is expected to drive the market growth during forecast period.
The application of steel piles in ports/harbors, urban civil engineering, bridges, and other construction projects are driving the steel piles market in Europe.
Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.
The market is expected to witness increment of over -4.2% between 2019 and 2020 owing to the negative impact of COVID-19 pandemic on the steel piles market. The lockdown among several countries owing to the outbreak has resulted in a decrease in the manufacturing processes.
The base year considered for the Europe steel piles market report is 2019. The complete analysis period is 2017 to 2027, wherein, 2017 & 2018 are the historic years and the forecast is provided from 2020 to 2027.
Major manufactures include ArcelorMittal, ESC Group, EVRAZ PLC, JFE Steel, Nippon Steel, SteelWall ISH GmbH., United States Steel Corporation, and Zekelman Industries
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