Rising public sector investments and growing demand for residential construction has led to a booming infrastructure sector which may stimulate Europe geogrids market growth.
Sellbyville, DE -- (SBWIRE) -- 10/12/2018 -- GMI presents a most up-to-date research on "Europe Geogrids Market – Global Industry Analysis, Size, Share, Product (Uniaxial, Biaxial, Multi-Axial), Growth Potential, Trends Statistics, Regional Outlook (Germany, UK, France, Italy, Spain, Russia, Poland, Denmark, Norway, Sweden, Finland, Switzerland, Belgium, Austria, Netherlands) and Forecast 2018 – 2024".
Europe Geogrids Market size is set to surpass USD 460 million by 2024. Rising infrastructure spending accompanied with increasing number of construction projects in Poland, Russia, UK, Germany, and France should drive Europe geogrids market demand. They impart high tension membrane effect, improve bearing capacity of aggregate layer, and restrain lateral movements thereby positively influencing industry growth. Growing application in railways, increase performance and structural integrity while reducing costs which in turn fuel product demand.
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Denmark geogrids market demand from railroad may witness growth of about 2.5% by 2024. The ratification of several transport agreements including heavy investments surpassing USD 15 billion may stimulate the infrastructure sector by 2020. Additionally, the recovery in real estate market and archaeological damage from coastal erosion in Northern Jutland may further accelerate regional product demand.
Norway multiaxial geogrids industry is expected to surpass USD 2 million over the foreseeable timeline. Multiaxial products primarily include triaxial and quaxial, which are commonly used in highly-trafficked roadways, flexible pavements, parking lots, slope construction and erosion-control applications which may further accelerate market demand. These products exhibit multi-directional strength, high stability, superior performance and allows easy installation which may further accelerate regional market growth.
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UK geogrids market from railroad applications may witness gains at over 5% by 2024. Ongoing construction of upcoming railway projects coupled with rising railroad bed reinforcement demand owing to damage reduction may further accelerate growth of Europe geogrids market.
Spain geogrids market from soil reinforcement applications may witness gains at over 4% in the predicted timeframe. These products are primarily used in retaining walls, steepened slopes, bridge abutments and embankment mattresses. They also help in prolonged load-bearing and increase soil stability at varying angles which makes them highly ideal for slope reinforcement. Rising economic recovery, increasing foreign investments, employment growth and housing demand are the major factors contributing to resurgence in the infrastructure development.
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Europe geogrids market share is moderately fragmented among several participants such as TENAX SPA, Koninklijke Ten Cate B.V, Solmax GSE Inc., Huesker Synthetic GmbH and Tensar international Corporation. Many industry participants prefer to invest in innovative strategies which may result in new product development and acquisitions to enhance their product portfolio further enhancing the overall market growth.
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