The screw piles market was worth USD 930 million in 2021 and is expected to rise at a CAGR of 5.7% during the forecast period of 2023 to 2030. Economical screw piles are installed by excavators with rotating driver heads. Modern builders employ screw piles when speed is important. High-quality recycled steel screw piles are popular. This has reduced the carbon footprint. Screw piles, or steel screw-in piling and ground anchoring techniques, enable deep foundations. They're mostly made of high-strength steel and use tubular hollow modules for pile or anchor shafts. Because of its helix, it may be screwed into wood and ground. It's perfect for installing tonnes. Depending on application and terrain, it may have more than one helix. When a bigger load or soft ground is required, more helices are usually specified.
Government spending on infrastructure and utilities has fuelled demand for screw piles. The rise of commercial kitchens, healthcare facilities, business parks, academic institutions, and entertainment venues has increased the use of screw piles in foundation construction. Screw piles are often used in urban construction due to their better displacement ability, load-bearing capacity, minimum site disruption, quick load-carrying capability, and speedy installation. The maritime, industrial, agricultural, defense, and government sectors have all grown, leading to more imaginative civil constructions. This development increases the necessity for screw piles. Modern building methods, mergers, and partnerships.
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Screw piles are used in solar farms, agricultural buildings, and modular construction due to their ease of installation and strength. As global players aim to develop, product innovation and collaboration are becoming more crucial to their growth strategy. Due to mergers and acquisitions, this industry will be highly fragmented. Due to market companies acquiring smaller firms to expand their market share, competition is modest.
Rapid urban population growth is expected to boost housing demand. Developing countries are spending more on construction to boost their economies. Hotel, office, retail, and entertainment complex construction have increased. In the next years, residential, non-residential, and industrial construction will boost demand for screw piles. Screw piles may sustain both new and existing buildings due to their outstanding stability, even in poor soil conditions and on slopes. The foundation is the most crucial part of any screw pile-supported construction. They help structures endure tornadoes, earthquakes, and other harsh weather. An increase in construction is expected to enhance screw piles' market share over the projection period.
In many countries, rapid economic growth requires the building of new physical infrastructure. Transportation, communication, energy, clean water and sanitation, medical care, and other important services affect a population's quality of life. Globally, governments prioritize the construction of utilities, transit, and other infrastructure. Several national governments are committing considerable sums to improve infrastructure, education, and medical care. Screw piles' load-bearing capacity, minimum site interruption, immediate load-carrying capabilities, and speedy installation are expected to boost the market in the coming years.
Growing industry, urbanization, infrastructure repair, population growth in developing nations, increased residential development, and investments in renewable energy and telecommunications will boost the demand for screw piles. Screw piles were recently invented and patented using composite technology. Screw pile installation, which may be difficult owing to geology, would hinder the industry's long-term growth. Excessive prices and raw material price fluctuations will also slow market expansion. The lack of providers who can customize screw heaps would also hinder market expansion.
The global screw piles market is segmented by kind as follows: SS-RS combinations, SS (square shaft) and RS (round shaft) screw piles, and helical grouted displacement piles (HGD piles). RS (round shaft) type screw piles are expected to dominate the global market in 2021, according to this research. Screw piles with round shafts are more load-bearing than other varieties. Screw piles are now used in agriculture, building, and other industries. Round shafts have a high section modulus strength, preventing twisting and deflection. Because of this, their demand is expected to rise in many end-use applications during the forecast period.
2021 sales were led by North America. North American need for cost-effective, high-quality, and fast-installing load-bearing anchors will drive the screw piles industry. The expansion of building projects in North America and the use of screw piles are expected to generate profitable growth potential for market participants throughout the forecast period. The United States is expected to hold a large chunk of the market due to increased residential and non-residential buildings. China is expected to invest $5.13 trillion in Asia and the Pacific over the next few years. Asia-Pacific would have the highest CAGR during the predicted period. Increased construction activities, building construction, and government policies are driving market growth in this region.
The market remains fragmented with a significant number of companies operating in this market. Key competitors in the global screw piles market are expanding their product portfolios, doing R&D, collaborating, and merging. Screw pile manufacturers and suppliers focus on market trends to optimize profits. Market participants collaborate with suppliers, firms, and distributors to expand their business. Screw pile firms include Almita Piling Inc., Hubbell Incorporated, TorcSill Foundations LLC, Earth Contact Products, GoliathTech Corporation, Pier Tech Systems LLC, Supportworks, Inc., Techno Metal Post Inc, Patriot Foundation Systems, and Magnum Piering Inc.
