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Africa Construction Aggregates Market Segmented By Crushed Stones, Sand, Gravel Types in Commercial, Residential, Industrial, Infrastructure
The construction materials market has witnessed sustainable incremental growth over the years. This can be attributed favorable economic conditions in various countries. The construction industry is projected to witness acceleration in large public and private infrastructural projects. In the coming years, it is estimated that, the construction aggregates markets in emerging countries are expected to create opportunities for various foreign players to penetrate into them. This could create significant growth opportunities for local players to form joint ventures or even be acquired by larger players that want to gain a foothold in these domestic construction aggregates markets.
Office construction is anticipated to witness significant growth over the forecast period, which can be attributed to increasing employment, especially in high-tech jobs market. This will increase the demand for construction materials for constructing office spaces. Moreover, the anticipated increase in healthcare expenditure is expected to fuel the renovation of healthcare facilities, which is simultaneously expected to increase the demand for construction aggregates over the forecast period. Spending on schools and educational institutions is also anticipated to increase to equip schools with modern technologies and create a collaborative environment for students.
Travel and tourism is the key sector that contributes significantly to the GDP of many countries. According to the Authority of World Travel & Tourism, the total contribution of the travel and tourism sector of South Africa to the African GDP was US$ 30.21 billion in 2018. It accounted for around 14.2% of the total GDP in 2018, and is expected to increase by 2.7% in 2019. This increase in tourism will lead to an increase in capital investments in countries where a major chunk of the GDP comes from the travel and tourism industry. The travel and tourism sector attracted a significant share in Africa’s total investments. It is further estimated that, this share will increase over the forecast years. Increasing tourism is expected to attract significant foreign direct investments in tourism-driven countries, which will eventually lead to the launching of several hospitality-related construction projects in these countries. Also, regional government spending is expected to increase so as to support general tourism activities in these countries. It will further drive the growth of the construction industry across the African region, and subsequently increase the demand for construction aggregates over the forecast period.
Technological innovation is essential for the production of aggregates. This has led to the enhanced efficiency of aggregate manufacturing processes, leading to substantial productivity as well as high quality products. Also, several manufacturers present in the value chain are strengthening their research and development infrastructure to develop new manufacturing technologies. This, in turn, is fueling the growth of the Africa construction aggregates market.
Maine Company has developed a revolutionary automated process for testing the overall composition of aggregates. This particular process is being implemented in the heavy construction industry.
The Africa construction aggregates market is a highly fragmented market, wherein, tier 1 companies hold more than 12-15% the revenue share.
The next section provides a pricing analysis of construction aggregates on the basis of regional fronts, wherein, a weighted average price has been computed to arrive at the average prices in Africa. The primary objective of the construction aggregates market report is to offer key insights on competition positioning, current trends, market potential, growth rates, and other relevant statistics.
In the final section of the construction aggregates market report, we have provided a competition analysis with market share analysis pertaining to the construction aggregates market, and the performance of manufacturers by a tier-down structure of the Africa construction aggregates market.
In the competition dashboard section of the Africa construction aggregates market, we have provided a dashboard view of the major players, along with market share and their key business strategies. This would enable clients to evaluate strategies deployed by market leaders, and help them develop effective strategies in the construction aggregates market.