Weyerhaeuser Company (U.S.) and West Fraser (Canada) are leading players in the Wooden Decking Market

Wooden decks are manufactured using a primary wooden core structure and lumber. Wooden decks are strong, durable, and capable of bearing enough weight to support home owners enjoy an extended living area. MarketsandMarkets projects that the wooden decking market size will grow from USD 7.21 Billion in 2015 to USD 7.81 Billion by 2021, at a CAGR of 1.43% from 2016 to 2021. The increase in demand of wooden decks from residential applications is driving the growth of the wooden decking market.

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The key players in the wooden decking market are UPM-Kymmene Corporation (Finland), Weyerhaeuser Company (U.S.), West Fraser Timber Co. Ltd. (Canada), Universal Forest Products, Inc. (U.S.), Metsa Group (Finland), Setra Group (Sweden), James Latham plc (U.K.), Cox Industries Inc. (U.S.), Humboldt Redwood Company and Mendocino Redwood Company (U.S.), and Vetedy Group (U.S.). These players have adopted various strategies to expand their global presence and increase their market share. Mergers & acquisitions, partnerships & agreements, investments & divestures, and new product launches are some of the key strategies adopted by the market players to achieve growth in the wooden decking market.

The year 2014 witnessed several mergers & acquisitions and agreements & partnerships in the wooden market by the key players in order to expand their geographical footprint and improve their distribution network through the means of vertical acquisitions. Agreements & partnerships was the second-most adopted key strategy by the market players to increase their share. The increase in demand for wooden decks and high construction growth in emerging markets have encouraged companies to adopt this strategy.

Weyerhaeuser Company (U.S.) merged with Plum Creek Timber Company, Inc. to produce advanced timber and forest products. It continuously focuses on enhancing its global presence by acquiring smaller companies. The company acquired Longview Timber LLC (U.S.) from affiliates of Brookfield Asset Management (Canada), which expanded Weyerhaeuser’s timber holdings in the Pacific Northwest by 33%. The company operates globally with its broad range of product portfolio and is focused on establishing its operations globally.

West Fraser (Canada) focuses on achieving a premium position in the market by strategic acquisitions of a number of sawmills and related timber harvesting rights as well as development of lumber businesses. For instance, in 2014, it acquired two sawmills in Arkansas (U.S.) and one in High Prairie, Alberta (U.S.). In 2012, the company acquired a sawmill at Edson, Alberta (U.S.). These acquisitions have supported the company’s strategic objective of generating profitable growth in the wooden decking market.

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Rainscreen cladding enhance the aesthetic appeal of a building driven the residential sector

The rainscreen cladding market is projected to grow from USD 10.1 billion in 2019 to USD 14.3 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 7.1% during the forecast year. Demand for rainscreen cladding market can be attributed to the high growth primarily because of the increasing infrastructure and construction activities worldwide. Rainscreen cladding does not protect a building; it also enhances its appearance. The rebound in commercial construction is expected to increase the demand for external rainscreen cladding. Also, the increasing consumer awareness about efficient use of energy in houses and commercial buildings by reducing the amount of resources required for ventilation, heating, and air conditioning may drive rainscreen cladding market growth. However, the risk of water intrusion in the joints of buildings in extreme weather conditions and in areas where rainfall is high may a pose challenge to the industry growth.

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In terms of value and volume, the new construction segment is estimated to lead the rainscreen cladding market

The new construction segment held the largest market share among all the construction of rainscreen cladding as it is affordable and is installed in regions having extreme weather conditions. It is a traditional glue-down cladding material which inherits several properties such as durability, flexibility, ease installation, and budget-friendly. The demand for the new construction segment is driving due to its properties, making it a preferred constructional type of rainscreen cladding for the residential as well as commercial application. The renovation segment is considered suitable for almost all applications such as builder, multi-family, residential, and commercial.

In terms of volume, the non- residential segment leads the rainscreen cladding market

Rainscreen cladding enhance the aesthetic appeal of a building, along with properties such as durability, comfort, and protection from extreme weathering has also driven the residential sector. Also, the rise in housing renovation and maintenance will further drive the demand for rainscreen cladding in the residential sector. The use of rainscreen cladding in residential buildings enhances the aesthetic appeal and provides durability and comfort. Rainscreen cladding is a non-structural, aesthetic layer or thin panel applied on the outer skin of the building that protects everything inside it from the external weather elements.

The Europe region is expected to lead the rainscreen cladding market in terms of both value and volume, from 2019 to 2024. Factors such as the increasing number of new housing units and huge investments in the infrastructural sector is expected to drive the rainscreen cladding market growth in the European region. Also, countries such as UK, Germany, France, Russia are considered to be developed markets in the construction sector as compared to the emerging markets such as Italy due to the tremendous growth of the construction opportunities in these countries has also driven the demand for rainscreen cladding .

Kingspan Insulation (UK), Sika (Switzerland), Rockwool International A/S (Denmark), Everest Industries Limited (Denmark), and Sotech Architectural Facade (UK) are key players operating in the rainscreen cladding market. Expansions, acquisitions, partnerships, and new product developments are some of the significant strategies adopted by these key players to enhance their position in the rainscreen cladding market.

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In-depth Analysis of the COVID-19 Impact on Rainscreen Cladding Market

The rainscreen cladding market is projected to grow from USD 10.1 billion in 2019 to USD 14.3 billion by 2024, at a CAGR of 7.1% from 2019 to 2024. Rainscreen cladding market is expected to grow in accordance with the growth of the construction industry across the globe. Factors such as increase in the residential and non-residential construction and innovation as well as remodeling activities, along with the demand for durability of rainscreen cladding with the ability to withstand various weathering actions and resist chemical attacks & deterioration are expected to support market growth during the forecast period.

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This research Study categorizes the market based

On the basis of material

Composite Materials
Metal
Fiber Cement
HPL
Others

On the basis of region

North America
Europe
Asia Pacific
Middle East & Africa
South America

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In terms of value, the Europe region is projected to lead the rainscreen cladding market from 2019 to 2024 due to the strong demand from countries such as UK, Germany, France, Russia, and Italy. This demand in these mentioned countries is due to the tremendous growth of the construction opportunities in these countries. The market is also driven by the increasing number of new housing units and huge investments in the infrastructural sector.

Key players such as Kingspan Insulation (UK), SIKA (Switzerland), Rockwool International A/S (Denmark), Everest Industries Limited (Denmark), SFS Group AG (US), Sotech Architectural Façade (UK), Promat UK Ltd (UK) and Interface (US) adopted these strategies to strengthen their product portfolios, expand their market presence, and enhance their growth prospects in the rainscreen cladding market.

Kingspan Insulation Ltd (UK) and Sika AG (Sika) (Switzerland) are the Key Players in the Rainscreen Cladding Market

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The rainscreen cladding market has been dominated by large players such Kingspan Insulation (UK), SIKA (Switzerland), Rockwool International A/S (Denmark), Everest Industries Limited (Denmark), SFS Group AG (US). These players have adopted various growth strategies such as expansions, investments, new product developments, acquisitions, partnerships, agreements, and joint ventures to increase their market shares and enhance their product portfolios.

The strategies of expansion and acquisitions accounted for the largest share of all the strategic developments that took place in the rainscreen cladding market between January 2017 and March 2019. Key players such as Kingspan Insulation (UK) and Sika (Switzerland), have adopted these strategies to strengthen their product portfolios, expand their product portfolio, and enhance their growth prospects in the rainscreen cladding market.

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Kingspan Insulation Ltd (UK) is one of the key players in the manufacturing of fabricated & high-performance insulation as well as building envelope solutions. The company operates through its five business segments, namely, insulated panels, insulation boards, data & flooring technology, light & air, and water & energy. Its extensive product portfolio includes architectural façade , structural framing, metal facades, insulation boards, building services insulations, engineered timber , daylighting, smoke management, micro-wind , ventilation , energy storage solutions, and insulated panels. The company operates in the rainscreen cladding market via architectural façade . The company has more than 129 manufacturing sites and is present across more than 70 countries worldwide.

Sika AG (Sika) (Switzerland), is one of the global leaders in the specialty chemicals industry and operates through two business segments, namely, construction and industrial manufacturing. The company produces concrete & mixtures, mortar, sealants & adhesives, tooling resins, anti-static industrial flooring, and acoustic material. Under the construction segment, the company offers products and solutions for building components, cement industry, concrete technology, concrete refurbishment, elastic bonding, flooring & coating, gypsum & dry mortar, joint sealing, roofing, structural bonding, tiling , and waterproofing. The industry segment includes automotive, automotive aftermarket, building components, general industry, marine, renewable energies, and transportation industry. Sika AG has a presence in more than 50 countries, including Germany, India, Brazil, Chile, Morocco, and Australia, across five continents. Sika has subsidiaries in 95 countries worldwide and over 170 factories.

The roofing segment is projected to play a key role in the fiber cement market

MarketsandMarkets projects that the market for fiber cement will grow at USD 17.38 billion by 2021, at a CAGR of 4.80%. The market for fiber cement is segmented on the basis of material into Portland cement, sand, cellulosic fibers, and others. Portland cement dominated the market. However, the market for cellulosic fibers is projected to grow at the highest rate. With the emergence of new technologies, manufacturers are looking for advanced techniques to make fiber cement more effective.

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The siding segment is estimated to account for the largest share in the fiber cement market, on the basis of application and this trend is projected to continue during the forecast period. Fiber cement siding improves the aesthetic appeal of the buildings, making them look more expensive. Other applications such as molding & trim and roofing are projected to show potential growth. In fact, fiber cement roofing is projected to be the fastest growing application during the forecast period. Growing construction industry and strict regulations against the use of asbestos cement are important factors driving the market for fiber cement.

On the basis of end use, the residential segment held the largest share, in 2015 and is projected to grow at the highest rate during the forecast period. This is primarily due to favorable and lenient lending policies initiated by governments across all regions. Also, the residential construction spending is estimated to go up, particularly in the emerging Asia-Pacific and Latin American regions. Fiber cement products’ aesthetic appeal, along with properties such as durability and low maintenance, has also driven the residential sector.

Among regions, Asia-Pacific is projected to grow at the highest rate during the forecast period. Growing economy and rapid growth in the infrastructure sector in the Asia-Pacific region have significantly impacted the growth of fiber cement. The North American region, which is seeing a rebound in its residential construction sector, is projected to be the second-largest market.

Pre-engineered Buildings Market worth $25.0 billion by 2024

The pre-engineered buildings market is projected to grow from USD 14.5 billion in 2019 to reach USD 25.0 billion by 2024, at a CAGR of 11.5%. Factors such as the increasing demand for green buildings and need for reducing construction time and cost, along with the demand for lightweight building structure, drive the pre-engineered buildings market.

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Recent Developments

In March 2019, Nucor Corporation has planned to expand its steel plate production capacity by building a steel plate mill in Brandenburg, KY, US. The company has planned an investment of USD 1.35 billion in the mill. This mill has a planned production capacity of 1.2 million tons of steel products per annum. This is expected to strengthen the company’s steel plate product portfolio, which is further expected to support its pre-engineered buildings production, as steel plates are used as a raw material to manufacture pre-engineered buildings.
In August 2017, Zamil Steel Pre-engineered Building Company signed a contract with Agility Kuwait to build four air-conditioned warehouses in Mina Abdullah, Kuwait. This contract was valued at USD 6.7 million. Under this contract, the company would provide 4,600 metric tons of pre-engineered steel buildings and over 100,000 square meters of sandwich panels.

Scope of the report

Report Metric	Details
Market size available for years	2017-2024
Base year considered	2018
Forecast period	2019-2024
Forecast units	Value (USD) and Volume (Million Square Feet)
Segments covered	Structure, Application, and Region
Geographies covered	North America, Asia Pacific, Europe, South America, and the Middle East & Africa
Companies covered	BlueScope Steel (Australia), NCI Building Systems (US), Nucor Corporation (US), Kirby Building Systems (Kuwait), Zamil Steel Holding Company (Saudi Arabia), ATCO (Canada), Lindab Group (Sweden), PEBS Pennar (India), PEB Steel Buildings (Vietnam), and Everest Industries (India). Total 25 major players covered

Asia Pacific accounted for the largest share in 2018 and is also projected to record the highest growth rate during the forecast period. The key factors driving the growth of the Asia Pacific pre-engineered buildings market are the growth in the residential and non-residential construction industry, huge investments in the infrastructural sector, and rapid industrialization in the developing countries of Asia Pacific. Furthermore, various benefits of these buildings, including time & cost efficiency and reduced environmental impact, as compared to cast-in-situ construction, are fueling the demand for these buildings in the developing countries of Asia Pacific.

Key Questions addressed by the report

Which regions offer immense opportunities in the pre-engineered buildings market?
What are the upcoming industry trends for pre-engineered buildings?
What are the high-growth segments in the pre-engineered buildings market?
What are the factors driving the growth of the market?
What is the competitive scenario in pre-engineered buildings market?

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Pre-engineered Buildings Market- Current Trends and Future Aspect Analysis 2019 – 2024

Pre-engineered buildings are steel buildings or structures fabricated away from the construction site, based on customer requirements. These buildings are first designed using specific software tools, and then individual elements are manufactured at the factory, which is further transported, assembled, and erected at the construction site, with bolted connections. MarketsandMarkets expects the pre-engineered buildings market to grow from USD 14.5 billion in 2019 to USD 25.0 billion by 2024, at a CAGR of 11.5% during the forecast period.

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Recent Developments

In March 2019, Nucor Corporation has planned to expand its steel plate production capacity by building a steel plate mill in Brandenburg, KY, US. The company has planned an investment of USD 1.35 billion in the mill. This mill has a planned production capacity of 1.2 million tons of steel products per annum. This is expected to strengthen the company’s steel plate product portfolio, which is further expected to support its pre-engineered buildings production, as steel plates are used as a raw material to manufacture pre-engineered buildings.
In August 2017, Zamil Steel Pre-engineered Building Company signed a contract with Agility Kuwait to build four air-conditioned warehouses in Mina Abdullah, Kuwait. This contract was valued at USD 6.7 million. Under this contract, the company would provide 4,600 metric tons of pre-engineered steel buildings and over 100,000 square meters of sandwich panels.

The single-story segment is expected to account for the largest market share during the forecast period. The demand for single-story pre-engineered buildings, such as warehouses, factories, workshops, storage spaces, railway platform sheds, service stations, airport hangars, shipyards, and supermarkets is driven by rapid industrial expansion and growth in infrastructure.

The warehouses & industrial segment is projected to grow at the highest CAGR during the forecast period. This is attributed to the development of factories, production plants, R&D centers, and warehouses, because of the growing manufacturing sector and industrial expansion in developed and developing regions. Further, the growth of the retail and e-commerce industry generates the demand for warehouses, supermarkets, and distribution centers, thereby supporting the pre-engineered buildings market growth.

In terms of geographical coverage, the pre-engineered buildings market has been segmented into five regions, namely, North America, Asia Pacific, Europe, the Middle East, and Africa, and South America. Asia Pacific accounted for the largest share in 2018 and is also projected to record the highest growth rate during the forecast period. Growth in the Asia Pacific region can be attributed to the increasing demand for pre-engineered buildings from the growing non-residential construction (including commercial and industrial) and infrastructural development in the region. The major demand for pre-engineered buildings in the region is contributed by India and China, owing to the growing population, economic growth, government investments, and demand for low-cost green buildings.

Furthermore, foreign investors are setting up their factories and distribution centers in the developing countries of Asia Pacific, owing to cheap labor, trade liberalization, and favorable government policies, further boosting the pre-engineered buildings market growth. This acts as an opportunity for the pre-engineered buildings manufacturers and suppliers.

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United Rentals Inc. (US) and Ashtead Group plc (UK) are the Leading Player in the Construction Equipment Rental Market

The construction equipment rental market is estimated to be USD 98.6 billion in 2019 and is projected to reach USD 121.6 billion by 2024, growing at a CAGR of 4.3% from 2019 to 2024. Increasing building & construction activities, especially in China, Japan, and India, the recovering construction sector in Europe, and increasing rental penetration in North America coupled with shift in trend towards rental due to various cost-benefits is expected to drive the growth of the construction equipment rental market during the forecast period.

Major companies operating in the construction equipment rental market include United Rentals Inc. (US) (Belgium), United Rentals Inc. (US), Ashtead Group Plc (UK), Loxam (Paris), Herc Holdings Inc. (US), Aktio Corporation (Japan), Nishio Rent All Co. Ltd. (Japan), and Kanamoto Co. Ltd. (Japan) hold a potential share of the construction equipment rental market.

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United Rentals Inc. (US) is the leading player in the construction equipment rental market which has adopted organic & inorganic strategies to sustain its market position.

In October 2018, United Rentals, Inc. acquired WesternOne Rentals & Sales LP, a Canada-based leading equipment rental provider of aerial lifts and heat solutions, to expand its business in Western Canada.
In September 2018, United Rentals, Inc. acquired Blueline Rental, a leading North American general rental provider based in Texas, US, to extend its footprints to various large metropolitan areas in North America, including US coasts, the Gulf South, and Ontario. This acquisition is in line with the company’s Grow the Core strategy to expand its presence in the local and mid-sized customer segment.

Ashtead Group plc (UK) is another major company in the construction equipment rental market. It has adopted organic and inorganic strategies to sustain its position in the construction equipment rental market.

In March 2018, Ashtead Group acquired the business and assets of New England Rent-All Equipment, Inc. (NERA) for a cash consideration of approximately USD 4 million. NERA is a general equipment rental business based in Massachusetts, US.
In February 2018, Sunbelt US, an operating company of Ashtead Group in the US acquired the business and assets of Beaupre Aerial Equipment, Inc. and Beaupre Equipment Services, Inc. (together Beaupre) for a cash consideration of USD 50 million. Beaupre is an aerial work platform rental business based in Minnesota, US.

Construction Equipment Rental Market- Analysis, Statistics, Trends, Forecast Report, 2025

The construction equipment rental market is projected to grow from USD 98.6 billion in 2019 to reach USD 121.6 billion by 2024, at a CAGR of 4.3% from 2019 to 2024. The major drivers for the market include the increasing demand for rental equipment due to various benefits, shift in trend towards rental, increasing infrastructure activities in emerging nations, and cost-benefits associated with the use of construction equipment on a rental basis rather than purchasing it.

North America projected to be the largest construction equipment rental market during the forecast period

North America accounted for the largest share of the market in 2018, and is expected to continue in the trend during the forecast period due to the recent boom in non-residential construction in the region, coupled with supporting investments from domestic and foreign investors and favorable policies. The growth and financial health of North American construction equipment rental market is driven by factors, such as non-residential construction activity, capital investments in the industrial sector, repair, maintenance, and overhaul services, government spending and demand for construction equipment rental for remediation and rebuilding efforts. The market in the Asia Pacific is projected to grow at the highest CAGR during the forecast period. This growth is attributed to the increasing building & construction activities, especially in China, Japan, and India, coupled with increasing investments from domestic & foreign investors in public & private sectors.

Recent Developments

In August 2019, Ahern Rentals started its operational facility in Argentina. Located in Buenos Aires, Ahern Argentina is the eighth Ahern International business to open, joining Ahern Australia, Ahern Canada, Ahern Chile, Ahern Deutschland, Ahern Ibérica, Ahern Ireland, and Ahern Japan, and is the second Ahern International entity in Latin America. Focused on supporting the Argentinian market, the company specializes in sales, service, and spare parts for Xtreme Manufacturing telehandlers, Snorkel aerial work platforms, and Ruthmann Bluelift tracked spider lifts.
Equipment rental company, Boels Rentals is adding the Barreto 30SGB stump grinder to its rental product range, based on positive feedback relating to Vanguard’s V-Twin engine. Boels Rentals will introduce the new stump grinder units which feature the Vanguard V-Twin engine across its European network as part of its strategic collaboration with engine manufacturers, Briggs and Stratton.

Key Market Players

Companies such as United Rentals Inc. (US) (Belgium), United Rentals Inc. (US), Ashtead Group Plc (UK), Loxam (Paris), Herc Holdings Inc. (US), Aktio Corporation (Japan), Nishio Rent All Co. Ltd. (Japan), Kanamoto Co. Ltd. (Japan), Nishio Rent All Co. Ltd (Japan), Nikken Corporation (Japan), and Ahern Rentals (US), among others, are the major players in the construction equipment rental market. These players focus on strategies, such as contracts, product launches, acquisitions, partnerships, expansions, joint ventures, and investments that have helped them to expand their businesses in untapped and potential markets.

The diversified product portfolios and multiple uses are factors responsible for strengthening the positions of these companies in the construction equipment rental market. They have adopted various organic and inorganic growth strategies, such as new product launches, acquisitions, and contracts, to enhance their current positions in the construction equipment rental market.

Zamil Steel Holding Company (Saudi Arabia) and Nucor Corporation (US) are the Key Players in the Pre-engineered Buildings Market

The global pre-engineered buildings market size is projected to grow from USD 14.5 billion in 2019 to USD 25.0 billion by 2024, at a CAGR of 11.5% during the forecast period. The increasing demand for green buildings and need for reduction in construction time and cost, along with the demand for lightweight building structure, are projected to drive the growth of the pre-engineered buildings market.

The pre-engineered buildings market is dominated by major players such as BlueScope Steel (Australia), NCI Building Systems (US), Nucor Corporation (US), Kirby Building Systems (Kuwait), Zamil Steel Holding Company (Saudi Arabia), ATCO (Canada), Lindab Group (Sweden), PEBS Pennar (India), PEB Steel Buildings (Vietnam), and Everest Industries (India). These players adopt various growth strategies such as contracts/orders/project developments, new product developments, divestitures and expansions, and acquisitions to increase their market share. Contracts/orders/project developments were the most dominating strategies adopted by major players from January 2016 to March 2019; this helped them to improve their product offerings and broaden their customer base.

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Zamil Steel Holding Company (Saudi Arabia) is one of the key players in the pre-engineered buildings market. It offers pre-engineered buildings for a wide range of applications including warehouses, factories, offices, showrooms, shopping malls, aircraft hangars, power stations, and recreational infrastructures. It is among the few companies that offer complete building solutions. Contracts is the major growth strategy adopted by the company. For instance, in August 2017, Zamil Steel Pre-engineered Building Company signed a contract with Agility Kuwait to build four air-conditioned warehouses in Mina Abdullah, Kuwait. This contract was valued at USD 6.7 million. Under this contract, the company will provide 4,600 metric tons of pre-engineered steel buildings and over 100,000 square meters of sandwich panels. This contract is expected to enhance the pre-engineered buildings business and tap the untapped market.

Nucor Corporation (US) is involved in the manufacturing and selling of metal buildings for various low-rise and non-residential applications such as aviation/aircraft hangars, warehousing/storage, manufacturing, retail, agriculture, military, athletic/recreational, and self-storage. It has a strong global presence in Asia Pacific, North America, Europe, and the Middle East. The strong global presence and adoption of growth strategy such as expansions have ensured its key position in the pre-engineered buildings market. In March 2019, Nucor Corporation has planned to expand its steel plate production capacity by building a steel plate mill in Brandenburg, KY, US. The company has planned an investment of USD 1.35 billion in the mill. This mill has a planned production capacity of 1.2 million tons of steel products per annum. This is projected to strengthen the company’s steel plate product portfolio, which is further supporting its pre-engineered buildings production, as steel plates are used as a raw material to manufacture pre-engineered buildings.

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