Global Pervious Pavement Market To Be Driven By The Availability Of Low-Cost Pervious Pavements In The Forecast Period Of 2022-2027
The new report by Expert Market Research titled, ‘Global Pervious Pavement Market Size, Share, Growth, Analysis, Report and Forecast 2022-2027’, gives an in-depth analysis of the pervious pavement market, assessing the market supporting its segments like type, design, application, end-user industry and major regions. The report tracks the newest trends within the industry and studies their impact on the general market. It also assesses the market dynamics, covering the key demand and price indicators, alongside analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
- Historical Market Size (2020): USD 17 billion
- Forecast CAGR (2022-2027): 5.2%
The market for pervious pavement in North America is likely to grow the fastest and have the greatest market size. North America has grown in popularity and is now an important aspect of low-impact design and best management practices for stormwater management in the United States. Stormwater coming into the surface and soil subgrade, as well as water draining out of the base, are managed by permeable pavement designs that give sufficient structural capacity to meet the projected vehicle loads. Because of growing economies like China, India, and the Middle East, the Asia-Pacific area is expected to grow at the second-fastest rate.
As a result of the modern building industry’s growing duty for stormwater management, where porosity enables for quick filtering and drainage, the market is gaining popularity. Pervious pavements have recently become popular because they help to reduce temperatures on and surrounding pavements, hence minimising heat, and its impacts. Driveways, sidewalks, commercial and multi-acre spaces, parking lots, and low-traffic roadways are all examples of where it’s employed. Because of its high porosity, this pavement type is sometimes regarded as having low durability. It is, however, still employed in a significant variety of applications that have exploded in popularity in recent years. Green parking lots, rain gardens, solar coverings, and other creative components are all possible with pervious pavement.
Industry Definition and Major Segments
Pervious pavement is a type of paving that allows rainwater to run off and into the ground. Porous or permeable pavement is another name for it. Sideways, swimming pools, parking lots, washrooms, and business spaces are all places where this strategy is commonly used. This technique is used to enhance groundwater levels by reducing the pollutants in surface water.
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The global pervious pavement market can be segmented on the basis of type, design, end-user industry and application.
Based on type, the market is bifurcated into:
- Pervious Concrete
- Porous Asphalt
- Porous Brick
Based on design, the market is segmented into:
Based on application, the market is divided into:
- Building Apartments
- Gardens and Swimming Pools
- Floors and Parking Spaces
- Roads and Highways
- Sideways and Footpaths
Based on end-user industry, the market is classified into:
- Apartment Builders
- Road Construction Companies
On the basis of regional markets, the segmentation of the pervious pavement industry includes North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The escalating development projects as a result of rapid industrialization and the growing urban population are driving the global market for pervious pavement. Pervious pavements are made up of grids and are increasingly being employed as a cost-effective alternative to pricey specialised equipment, which is fueling market expansion. The easy availability of low-cost lightweight plastics necessary for filling and manufacturing pallet-sized grids greatly lowers shipping and transportation costs, helping the industry to grow.
Furthermore, due to the strength of these grids, they are able to endure heavy machinery and loads, making them durable, increasing their use in building projects and, as a result, propelling the market for pervious pavements forward. This technique can also be utilised for a temporary purpose, with the filler material being reused, making the process more economical and reducing the negative environmental impact of single-use plastic, hence increasing demand.
Key Market Players
The major players within the market are Lafarge Holcim Ltd, Chaney Enterprises, Fred Adams Paving Co., Inc, Pervious Paving Contractors LLC, Pervious Concrete Inc., and others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of those market players.
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