Rise and developments in the construction sector drive the growth of the global cobblestone market. Furthermore, rapid urbanization and modernization across the world have paved the way for an array of opportunities for the frontrunners in the industry.
PORTLAND, Ore., Aug. 2, 2022 /PRNewswire/ — Allied Market Research published a report, titled, “Cobblestone Market by Type (Mechanical Pebble, Natural Cobblestone, Riverstone, Others), by Construction Type (New construction, Renovation), by Application (Roading, Architecture, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031.” According to the report, the global cobblestone industry was estimated at $7.64 billion in 2021, and is anticipated to hit $12.44 billion by 2031, registering a CAGR of 5.0% from 2022 to 2031. The report offers an explicit analysis of the changing market trends, top segments, key investment pockets, value chain, competitive scenario, and regional landscape. The market study is exclusively meant to help the readers with a complete valuation of industry analysis and trends. Most importantly, the study offers qualitative data about how the market is developing and moving forward.
Pre-determinant of growth-
Rise and developments in the construction sector drive the growth of the global cobblestone market. Moreover, government investments in renovation and new construction have supplemented the growth even more. Simultaneously, rapid urbanization and modernization across the world have created lucrative opportunities for the key players in the industry.
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- Significant delay in the supply and manufacturing of natural stones that are utilized in commercial & residential spaces impacted the global cobblestone market negatively, especially during the initial period.
- However, the reopening of companies across the world is helping the market get back on track at a slow & steady pace.
The natural cobblestone segment to dominate by 2031-
By type, the natural cobblestone segment contributed to more than two-fifths of the global cobblestone market share in 2021, and is expected to lead the trail by 2031. This is because natural cobblestone such as granite is widely used for making gravestones, sculptures, and memorials, due to their hardness. Simultaneously, the riverstone segment is expected to exhibit the fastest CAGR of 6.5% from 2022 to 2031. This is due to surge in demand for limestone for structural fill, railroad ballast, rip rap, drainage & erosion control. The mechanical pebble segment is also analyzed in the study.
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The new construction segment to maintain the lion’s share-
Based on construction type, the new construction segment generated nearly three-fourths of the global cobblestone market revenue in 2021, and is expected to lead the trail by 2031. Increase in construction activities in the developed and developing countries fuels the segment growth. The renovation segment, on the other hand, would manifest the fastest CAGR of 5.4% from 2022 to 2031. A lot of government bodies are now initiating the renovation of old buildings and structures, which creates high demand for cobblestones, thus propelling the segment growth.
The roading segment to lead the trail-
Based on application, the roading segment held more than two-thirds of the global cobblestone market revenue in 2021, due to increasing construction of cobblestone pavements. The architecture segment, simultaneously, would garner the fastest CAGR of 5.6% during the forecast period. Rise in adoption of cobblestone for architectural applications drives the growth of the segment.
Asia-Pacific garnered the major share in 2021-
Based on region, Asia-Pacific held the major share in 2021, generating nearly half of the global cobblestone market. The same region would also garner the fastest CAGR of 5.9% by 2031. This is owing to ongoing infrastructure developments across China and India. The other regions assessed through the report include North America, Europe, and LAMEA.
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Key players in the industry-
- Ajmera Marbles Industries
- Dakota Granites
- Environmental StoneWorks
- Agarsen Granite & Stones
- Elegant Natural Stones Pvt. Ltd
- Aaren Stones & Granites Pvt. Ltd
- Leeca Ltd
- Maharaja Stones
- Paving International
- Granite Setts UK Ltd
- U.S. Stone Works Inc
- vangura surfacing products
- Style Earth
- Precision Countertops, Inc
The report analyzes these key players in the global cobblestone market. These players have incorporated various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in assessing the operating segments, their business performance & product portfolio, and so on.
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