Pervious Pavement Market Overview
It is estimated that pervious pavement emerging market size, will encounter a CAGR of 5.10% worth USD 25.52 billion during the forecast period.
pervious pavement market share makes an ideal choice for building green parking lots, including rain gardens, art, trees, solar covers, and other creative elements. Choosing pervious pavement for landscaping has a large effect on the environmental impact of parking lots. Needless to mention, that due to the increasing rain harvesting projects the demand and market size of pervious pavement is growing constantly.
Pervious pavement also known as permeable pavement or porous concrete is an alternative paving surface with a high porosity that allows stormwater to pass through voids into the ground below. Pervious pavement tackles the increasing concerns of flooding in urban areas, sufficing the requirements for controlling storm-water run-off. Hence, it’s extensively used in parking lots and low-traffic streets.
Although it’s high porosity is a factor that makes it durability compromised product, pervious pavement is extensively used in a number of applications that have grown drastically over the past decade, from driveways and sidewalks to commercial and multi-acre spaces.
The concept of Permeable pavement proposes reducing floods, raising water tables, and replenishing aquifers. Additional factors driving the global pervious pavement market include the increasing applications area such as low-volume pavements, residential roads and driveways, low-water bridges, patios, well linings, walls (including load-bearing walls), and swimming pool decks.
Also, the rising demand from residential, commercial and public infrastructure around the globe propels the growth of the pervious pavement to an extent. Additionally, factors such as the growing population, urbanization, and the improving economy that increases consumers’ purchasing power, contribute to the market growth vastly.
Simultaneously, the modern construction industry along with the growing concern of stormwater management, depletion of groundwater level, and demand to reduce environmental impact foster the market growth. Pervious pavements with its high porosity that allows rapid filtration and drainage helps to filter out the pollutants that contribute to water pollution such features adds to the pervious pavement market growth.
However, price volatility and demand & supply gap of the raw materials required this type of pavement is some of the factors that hamper the market growth. Adversely, the advantages that the pervious concrete pavers offers such as the reduced total construction costs of commercial and residential development by reducing the need for road salt and conventional drainage features will support the market growth brilliantly.
Global Pervious Pavement Market – Segmentation
MRFR has segmented its analysis into four key dynamics for enhanced understanding.
By Applications: Hardscape and Floors among others.
By Designs: Hydrological and Structural among others.
By Regions: North America, Europe, APAC and Rest-of-the-World.
By Materials: Porous Asphalt, Pervious Concrete, and Interlocking Concrete Pavers among others.
Global Pervious Pavement Market – Regional Analysis
The European region accounted for the dominating market for pervious pavement in 2015 with the investments by the public, and private entities transpired in the increasing number of infrastructure redevelopment. However, the region is expected to witness a comparatively lower growth rate due to the reducing construction demand and sub-performing economic conditions.
The Asia Pacific region, on the other hand, is emerging as a lucrative market for pervious paving, globally. The improving economy is doing wonders in the already flourishing modern construction sector in the region. Besides, the rapid urbanization along with the increased investment in infrastructure and government support is expected to create a massive demand for pervious pavement. The new trend of rain harvesting is supporting the market growth, generating a significant amount of demand for the pavement.
In such a scenario, the North American region which accounted for the second largest market in 2015, globally will soon take over the hegemony from the European region. The growing market in the US backed by the rising construction and rebuilding projects majorly contribute to the growth of the regional market. Furthermore, increasing infrastructure development projects supported by huge investments by the positively impacting the market growth in the region. Also, increasing demand from the residential construction sector along with the presence of innovative manufactures and a high number of end-use industries is pushing up the market growth. Also, the high number of pervious pavement installations in parking lots and commercial areas with low speeds and light traffic loads are propelling the growth of the regional market.
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Some of the eminent leaders of the market include CEMEX S.A.B. de C.V. (Mexico), LafargeHolcim (Switzerland), CRH plc (Ireland), Sika AG (Switzerland), BASF SE (Germany), Balfour Beatty plc (U.K.), Boral Limited (Australia), UltraTech Cement Limited (India), Chaney Enterprise (U.S.), and Raffin Construction Co. (U.S.).
Global Pervious Pavement Market – Competitive Analysis
The global pervious pavement market appears to be highly competitive and diversified with the presence of many well-established players having a regional and global presence. Innovation, mergers & acquisitions, and brand reinforcement remain the key trends for leading players in the Pervious Pavement market.
Industry/ Innovation/ Related News:
August 08, 2018 – Eurovia (SA - France), company engaging in transport infrastructure construction and urban development announced the acquisition of the paving division of Lane Construction of Salini Impregilo (Paris), a global industrial group involved in the construction of major, complex infrastructure projects.
March 1, 2018 – A research team at Washington State University (US) published their study of a one of its kind permeable/ previous pavement they developed using recycled carbon fiber, solving a high-tech waste issue while addressing the environmental challenge of storm-water run-off.
This research project was funded through a partnership with the Boeing Company.
Now that the material works at the laboratory scale, the researchers are poised to conduct real-world tests on pavement applications. Also, they are working with the vendors and providers of the industry to develop a supply chain to make it mainstream and widespread.
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