Mechanical Anchor Market is Forecast to Reach US$ 2.8 Billion in 2028, Says Stratview Research

The mechanical anchor market is likely to rise at a CAGR of 4.9% during 2023-2028, to reach US$ 2.8 billion in 2028, states Stratview Research.

DETROIT, Dec. 26, 2023 /PRNewswire/ -- Stratview Research, a global market research firm has launched a report on the global mechanical anchor market which provides a comprehensive analysis of the global and regional industry forecast, current & emerging trends, segment analysis, and competitive landscape.

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Report Highlights

Segment Insights on the Mechanical Anchor Market

The global mechanical anchor market is segmented based on product type, substrate type, end-user type, and region.

Based on product type - The market is segmented as expansion anchor, screw anchor, undercut anchor, and others. Expansion anchor is expected to remain the largest as well as the fastest growing segment of the market during the forecast period, owing to extensive usage in concrete and masonry substrates. In addition to that, increasing demand from various end-users due to reliability and wide applicability is further expected to propel the demand for expansion anchors during the forecast period.

Based on the substrate type - The market is segmented as concrete, masonry, natural stone, and others. Concrete is expected to remain the largest segment of the market during the forecast period. Concrete is a popular choice for construction due to its high compressive strength, durability, versatility, and fire and water resistance.

Based on the end-user type - The market is segmented as infrastructure, commercial, residential, and industrial. Infrastructure held the largest share of the market, due to increased spending on infrastructure projects, a boost in infrastructure development, especially in emerging economies, coupled with urbanization, and economic expansion.

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Which Region Offers the Best Opportunity and Growth?

The report suggests that Europe is expected to remain the largest market for mechanical anchors over the forecast period. This growth is majorly attributed to the following – 

-  Driven by major factors such as increasing construction activities, growing disposable income, and rapid urbanization and industrialization.
-  In addition to that, Europe is home to leading players such as Hilti Group, Wurth Group, and Fischer Group.

Likewise, Asia-Pacific is expected to witness the highest growth rate during the same period due to major factors such as growing construction projects in the developing economies, rapid economic growth, and increasing population.

Mechanical Anchor Market Drivers

Some of the key drivers listed in the report are given below.

-  Expanding worldwide construction industry.
-  Rise in capital expenditure on infrastructure development.
-  Increasing demand for commercial and residential construction due to rapid urbanization, industrialization, and increasing disposable income.

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Top 10 Companies in the Mechanical Anchor Market?

The market is fairly consolidated with the presence of some global and regional players. Stratview Research has identified the following companies as the top market players.

-  Hilti Corporation
-  Würth Group
-  Fischer Group
-  Illinois Tool Works Inc.
-  Simpson Strong Tie Co. Inc.
-  Halfen Gmbh
-  DEWALT Inc.
-  EJOT Holding GmbH & Co. KG
-  SANKO TECHNO Co. Ltd.
-  Rawlplug S.A.

What Deliverables will You Get in this Report?

Related reports which might be useful:

• Post-Installed Anchors Market
• Cast-in-Place Anchor Market

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