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Global Expansion Joint Market By Type (Axial Expansion Joints, Angular Expansion Joints, Lateral Expansion Joints and Universal Expansion Joints), By Application (Petrochemical Industry, Power Generation Industry, Heavy Industry and others), By Region (North America, Europe, Asia-Pacific, South America and The Middle East & Africa)-Global Forecast to 2030.
Expansion Joints Market Overview
The global Expansion joint market is estimated to reach USD 5.5 billion in 2030 with a CAGR of 5.2% during the forecast period of 2022-2030. It was valued at USD 2.1 billion in 2022.
Owing to an essential indicator of the development, i.e., the construction industry is an important sector. It creates opportunities for investment across various end-use sectors in the expansion joints market. The construction sector, which includes the construction of concrete structures, building structures etc., will see a rise in expansion joints.
What are Expansion Joints?
Expansion joints can be described as an assembly created to grip the parts together while safely absorbing temperature-induced contraction and expansion. It is commonly used to contract the building materials between the sections of bridges, piping systems, ships, railway tracks, sidewalks etc.
Seasonal changes lead to cooling and warming, leading to expansion and contraction in the piping system, concrete slabs and building faces. It enables the particular structure to allow sufficiently vertical movement to permit bearing replacement soak the moisture and heat.
Growth Drivers
Due to Environmental Conditions and Traffic on Railway Track
The extreme hot and cold weather conditions lead to expansion and contraction of the designs such as concrete structures in commercial constructions, roadways, bridges, railway tracks, sidewalks, the piping system used in oil & gas petrochemical industries. For example; A breather switch, expansion joint, or adjustment switch is an intentional gap in railway tracks to expand long sections of otherwise unbroken rail. They are placed between long sections of continuous welded rail (CWR) or at the transition between CWR and jointed track. They are common in bridges and viaducts where the infrastructure and track may expand at different times. Therefore, the need for expansion joints comes into use which helps these structures to endure stresses. This factor will lead the market to expansion joints. Growing travel and traffic from railways continue as a preliminary cause, leading the market for expansion joints through the forecast period. With the demand from end-user and customers of lightweight parts and materials, the manufacturers are concentrating on more methods to make the product more lightweight and reliable.
Opportunities
The rise in renovation and remodeling actions globally
Government organizations in occurring countries are actively investing and concentrating on developing commercial and industrial infrastructures by executing multiple programs & assigning projects escalating the join expansion. Increasing remodeling and renovation operations in non-residential spaces will accelerate the demand for joint expansion during the forecast year. Hotel and resort renovation movements are also growing. Growing investments from industry players in industrial construction are further expected to push the joint expansion and create opportunities in the market.
Restraints
Fluctuation in raw materials prices
Impulsive increase or price decrease affects the profit margin of manufacturers as well. For Example- The main raw materials used for precast concrete products are cement, aggregates, and sand. Fluctuation in the prices of energy and crude oil, which are utilized for manufacturing and transporting these materials, is the main reason for fluctuations in the prices of these raw materials. These fluctuations, in turn, result in the volatility of prices of finished products. The fluctuation of petroleum and crude oil costs may cause raw materials to rise, increasing the cost of raw materials used in precast & postcast concrete of expansion joints.
Pre Covid-19 Impact on Global Expansion Joints Market
Before the covid-19 period, increasing industrial and technological development in power generation, chemical industry, and science and innovation is expected to increase the market growth. In expansion, increasing product application like; metal bellows, liner, cover, collar, power rods, flanges, and limit rods is anticipated to fuel the demand for the expansion joints market before the covid-19 era.
Covid-19 Impact on Global Expansion Joints Market
During the covid-19 outbreak, the demand for expansion joint is expected to decrease in the covid-19 period, due to lower demand from various industries, such as construction, due to the lockdown levied by governments of many countries. The covid-19 pandemic has caused many expansion joint market companies to halt their business operations to comply with new government regulations. This pause in operations directly impacts the revenue flow of the joint expansion market. The roads and highway industry are also at a standstill except for some emergency maintenance work due to lockdown imposed by governments worldwide. The lockdown has halted the production of raw materials, which created a shortage of raw materials and stopped new consignments.
Post Covid-19 Impact on Global Expansion Joints Market
After the covid-19 period, the growing demand for lightweight equipment is expected to drive the market for expansion joints after the pandemic. Protruding the construction initiative due to growing urbanization has noticed linear growth. This aspect will induce a requirement for heavy machinery and equipment, which will increase the expansion joints in the market. The equipment manufacturers prefer mixing innovative features to have high compatibility and superior strength-to-weight ratio with high conductivity. This element has conducted the manufacturing of more expansion joints which will drive the market for the same.
By Type Segmental Analysis
Based on type, the global expansion joint market is segmented into Axial Expansion Joints, Angular Expansion Joints, Lateral Expansion Joints and Universal Expansion Joints. The universal expansion joints dominate the global expansion joint market. A Universal Expansion Joint contains two bellows with a connecting pipe or center spool between them. Depending on the service conditions, it is usually furnished with limit rods or full thrust tie rods. Tie rods or limit rods stabilize the base pipe connection and evenly distribute the indication between bellows.
By Application Segmental Analysis
Based on application, the global expansion joint market is segmented into Petrochemical Industry, Power Generation Industry, Heavy Industry and others. The construction industry has the highest share in the global expansion joint market. A construction industry joint expansion occurs when there are multiple concrete placements. An expansion joint is used in concrete and steel. It can arise between distinct days of concrete placements. An expansion joint lets the concrete or steel expand or contract daily temperature variations.
Expansion Joints
Based on region, the global expansion joint market is segmented into North America, Europe, Asia-Pacific, South America and The Middle East & Africa. The Asia Pacific is anticipated to increase as the fastest-growing region through the forecast period. It will show the usage of more air travel more automotive vehicle usage, which will, in turn, increase the demand for Expansion Joints. The growing construction industry in the Asia Pacific region enhances the delivery numbers of the expansion joints. The change in the demographics and promotion in the income in the region is also one of the major factors which are pouring the demand for better construction travel, resulting in the need for new expansion joints in the region.
Competitors Analysis
The companies include Witzenmann, BOA Group, Unaflex, Senior Flexonics Pathways, Flexider, Tofle, U.S Bellows, Macoga, Technoflex and other prominent players in the global expansion joint market.
Key Stakeholders
- Market research and consulting firms
- Industry associations
- Expansion Joints Firms
- Local Governments
- Regulatory bodies
- Suppliers
- Retailers
Recent Development
- In March 2019, the Watson Bowman Acme company, one of the top companies in the expansion market, launched an advanced bridge expansion joint, the WaboFS Bridge seal. It is a foam-supported silicon bridge expansion joint system created to withstand thermal shock conditions. Multiple companies have used this product during the construction of bridges in various countries.
- In January 2018, RJ Watson, Inc., the supplier and manufacturer of bridge bearing, declared a business partnership contract with Structural Technologies. After this partnership, RJ Watson, Inc. is anticipated to mark its role in transportation-related construction activities and look to expand its business across the world.
Scope of the Report
| Report Attribute | Details |
|---|---|
| Revenue in 2021 | USD 1254.26 million |
| The revenue forecast in 2028 | USD 1669.28 million |
| Growth Rate | CAGR of 4.2% from 2022 to 2028. |
| Historical data | 2017 – 2020 |
| Base Year | 2021 |
| Forecast period | 2022 – 2028 |
| Region covered | North America, Europe, Asia-Pacific, South America, and Middle East & Africa |
| Key companies Profiled | The companies Witzenmann, BOA Group, Unaflex, Senior Flexonics Pathways, Flexider, Tofle, U.S Bellows, Macoga, Technoflex, are the key players. |
Market Modelling
By Type
- Axial Expansion Joints
- Angular Expansion Joints
- Lateral Expansion Joints
- Universal Expansion Joints
By Application
- Petrochemical Industry
- Power Generation Industry
- Heavy Industry
- other
By Region
- North America
- Europe
- Asia Pacific
- South America
- The Middle East & Africa
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Report Content
- Research Strategic Development
- Market Modelling
- Product Analysis
- Market Trend and Economic Factors Analysis
- Market Segmental Analysis
- Geographical Mapping
- Country Wise Segregation
- Research Methodology
- Secondary Research
- Primary Research
- Data Triangulation
- Historical Data
- Identification of Segment
- Market Size Calculating
- Research Objective
- Executive Summary
- Market Insights
- Economic Factor Analysis
- Drivers
- Trends
- Opportunities
- Challenges
- Technological Innovation
- Competitors & Product Analysis
- Regulatory Framework for Expansion Joint Market
- Company market share analysis, 2021
- Porter’s Five forces analysis
- New Investment Analysis
- PESTEL Analysis
- Impact of COVID-19 Global Expansion Joint Market
- Pre Covid-19 Impact on Global Expansion Joint Market
- Covid-19 Impact on Global Expansion Joint Market
- Post Covid-19 Impact on Global Expansion Joint Market
- Economic Impact study on Global Expansion Joint Market
- Economic Factor Analysis
- Global Expansion Joint Market Overview
- Global Market Size & Forecast, 2017-2028
- Demand
- By Value (USD Billion)
- Market Share & Forecast, 2017-2028
- By Type
- Axial Expansion Joints
- Angular Expansion Joints
- Lateral Expansion Joints
- Universal Expansion Joints
- By Application
- Petrochemical Industry
- Power Generation Industry
- Heavy Industry
- other
- By Region
- North America
- Europe
- Asia Pacific
- South America
- The Middle East & Africa
- By Type
- Demand
- Global Market Size & Forecast, 2017-2028
- North America Expansion Joint Market Overview
- North America Expansion Joint Market Size & Forecast, 2017-2028
- Demand
- By Value (USD Billion)
- North America Expansion Joint Market Share & Forecast, 2017-2028
- By Type
- Axial Expansion Joints
- Angular Expansion Joints
- Lateral Expansion Joints
- Universal Expansion Joints
- By Application
- Petrochemical Industry
- Power Generation Industry
- Heavy Industry
- other
- By Country
- US
- Canada
- Mexico
- By Type
- Demand
- North America Expansion Joint Market Size & Forecast, 2017-2028
- Europe Expansion Joint Market Overview
- Europe Expansion Joint Market Size & Forecast, 2017-2028
- Demand
- By Value (USD Billion)
- Europe Expansion Joint Market Share & Forecast, 2017-2028
- By Type
- Axial Expansion Joints
- Angular Expansion Joints
- Lateral Expansion Joints
- Universal Expansion Joints
- By Application
- Petrochemical Industry
- Power Generation Industry
- Heavy Industry
- other
- By Country
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- By Type
- Demand
- Europe Expansion Joint Market Size & Forecast, 2017-2028
- Asia Pacific Expansion Joint Market Overview
- Asia Pacific Expansion Joint Market Size & Forecast, 2017-2028
- Demand
- By Value (USD Billion)
- Asia Pacific Expansion Joint Market Share & Forecast, 2017-2028
- By Type
- Axial Expansion Joints
- Angular Expansion Joints
- Lateral Expansion Joints
- Universal Expansion Joints
- By Application
- Petrochemical Industry
- Power Generation Industry
- Heavy Industry
- other
- By Country
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia Pacific
- By Type
- Demand
- Asia Pacific Expansion Joint Market Size & Forecast, 2017-2028
- South America Expansion Joint Market Overview
- South America Expansion Joint Market Size & Forecast, 2017-2028
- Demand
- By Value (USD Billion)
- South America Expansion Joint Market Share & Forecast, 2017-2028
- By Type
- Axial Expansion Joints
- Angular Expansion Joints
- Lateral Expansion Joints
- Universal Expansion Joints
- By Application
- Petrochemical Industry
- Power Generation Industry
- Heavy Industry
- other
- By Country
- Brazil
- Argentina
- Rest of South America
- By Type
- Demand
- South America Expansion Joint Market Size & Forecast, 2017-2028
- The Middle East & Africa Expansion Joint Market Overview
- The Middle East & Africa Expansion Joint Market Size & Forecast, 2017-2028
- Demand
- By Value (USD Billion)
- The Middle East & Africa Expansion Joint Market Share & Forecast, 2017-2028
- By Type
- Axial Expansion Joints
- Angular Expansion Joints
- Lateral Expansion Joints
- Universal Expansion Joints
- By Application
- Petrochemical Industry
- Power Generation Industry
- Heavy Industry
- other
- By Country
- Saudi Arabia
- UAE
- South Africa
- Rest of the Middle East & Africa
- By Type
- Demand
- The Middle East & Africa Expansion Joint Market Size & Forecast, 2017-2028
- Competitor Analysis
- Company Description
- Financial Analysis
- Key Products
- Key Management Personnel
- Contact Address
- SWOT Analysis
- Company Profile
- Witzenmann
- BOA Group
- Unaflex
- Senior Flexonics Pathways
- Flexider
- Tofle
- S Bellows
- Macoga
- Technoflex
- Other Prominent Players
Frequently Asked Questions (FAQ):
The global Expansion joint market is estimated to reach USD 5.5 billion in 2030 with a CAGR of 5.2% during the forecast period of 2022-2030. It was valued at USD 2.1 billion in 2022.
Expansion joints can be described as an assembly created to grip the parts together while safely absorbing temperature-induced contraction and expansion. It is commonly used to contract the building materials between the sections of bridges, piping systems, ships, railway tracks, sidewalks etc.
The companies Witzenmann, BOA Group, Unaflex, Senior Flexonics Pathways, Flexider, Tofle, U.S Bellows, Macoga, Technoflex, are the key players in the global expansion joint market.
Growing travel and traffic from railways continue as a preliminary cause, leading the market for expansion joints through the forecast period. With the demand from end-user and customers of lightweight parts and materials, the manufacturers are concentrating on more methods to make the product more lightweight and reliable.
Government organizations in occurring countries are actively investing and concentrating on developing commercial and industrial infrastructures by executing multiple programs & assigning projects escalating the join expansion. Increasing remodeling and renovation operations in non-residential spaces will accelerate the demand for joint expansion during the forecast year. Hotel and resort renovation movements are also growing. Growing investments from industry players in industrial construction are further expected to push the joint expansion and create opportunities in the market.
