Raised Access Floor Market Size Worth Over US$ 2114.79 Mn, Globally, by 2028 at 5.40% CAGR: Industry Trends, Demand, Share, Value, Analysis & Forecast Report by Zion Market Research
NEW YORK, Aug. 3, 2022 /PRNewswire/ -- As per Zion Market Research study, The global raised access floor market size was worth around USD 1,542.50 million in 2021 and is estimated to grow to about USD 2,114.79 million by 2028, with a compound annual growth rate (CAGR) of around 5.40 percent during the forecast period.
Raised Access Floor Market: Overview
A raised floor system is typically a raised structural floor placed on top of an existing base and is usually made of concrete or similar solid material. The components of the expanded floor system are many panels that are joined together to form a plane. The panels are mainly made of steel or wood core coated with a bit of metal such as aluminum. The bricks are fixed in place with glue or mechanical screws. The most common overhead or overhead surface installation spaces are computer rooms, training and conference spaces, exhibition spaces, and general open office spaces. Generally, high floors are not recommended in areas such as bathrooms, kitchens, and places that can become wet. These areas have devices such as faucets so water can seep into the panels and destroy them. The use of raised floor technology is increasing due to the development of the construction market. The optimal use of floor space is one of the main reasons for developing this technology. Increasing building permits for private residential homes and the growth rate in commercial construction are the key factors that significantly influence the market.
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Key Industry Insights & Findings of the Raised Access Floor Market Reports:
- As per the analysis shared by our research analyst, the Raised Access Floor Market is expected to grow annually at a CAGR of around 5.40 % (2022-2028).
- Through the primary research, it was established that the Raised Access Floor Market was valued at approximately USD 1542.50 million in 2021 and is projected to reach roughly USD 2147.79 million by 2028.
- The increasing building permits for private residential homes and the growth rate in commercial construction are the key factors that significantly influence the market.
- Many developing and developing countries are facing increased demand for raised floor systems due to the construction of new residential and office spaces due to economic growth and the increasing disposable income of the people.
- demand in North America comes from new construction projects expected to drive the market. Demand for raised floors in the region is driven by the sheer size of end-user industries such as data centers, commercial businesses such as retail, semiconductor, and aerospace, and important public utility centers.
- Key drivers of North America region include the growing data center market due to the growing number of internet users, increased use of social media and high penetration of smartphones, increasing adoption of public and hybrid cloud services, and the need for businesses to move from server rooms to data centers.
Zion Market Research published the latest report titled "Global Raised Access Floor Market By Type (Steel Encapsulated, Calcium Sulphate Board, Aluminum Board, Chipboard Encapsulated, and Others), By Application (Data Center, Commercial Office Space, Nonprofit Management, and Others), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028." into their research database.
Industry Dynamics:
Raised Access Floor Market: Growth Drivers
- The growing number of construction activities aids the global market growth.
Many developing and developing countries are facing increased demand for raised floor systems due to the construction of new residential and office spaces due to economic growth and the increasing disposable income of the people. In addition, due to global warming and the growing number of natural disasters, more and more people are looking for ways to make their homes and offices safer and more resilient to earthquakes, disasters, and others. Steel wrap sheets are the most popular choice because they are durable. All of these factors are likely to drive the growth of the global raised access floor market during the forecast period.
Raised Access Floor Market: Restraints
- The rising prices of raw materials may hamper the global market growth.
Rising costs of materials such as steel and aluminum have reduced the need for increased access floors. Installing raised floors in damp areas or being exposed to chemicals can cause slabs to degrade, resulting in increased costs. These factors are expected to restrain the growth of the global raised floor systems market during the forecast period.
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Raised Access Floor Market: Opportunities
- Increased investment by hyperscale service providers brings up several growth opportunities.
The use of raised floor technology is increasing due to the development of the construction market. More than 70 super data centers were opened or under construction in 2019. In addition, the US alone is expected to add about 30 more mega data centers by 2023. For instance, in 2019, GIGA Data Centers opened a 60 MW data center in North Carolina, USA. In December 2018, Apple announced plans to invest USD 10 billion in data centers across the US over the next five years. Therefore, increased investment by hyperscale service providers is expected to benefit advanced flooring manufacturers.
Global Raised Access Floor Market: Segmentation
- The global raised access floor market is segregated based on type, application, and region.
By type, the market is divided into steel encapsulated, calcium sulfate board, aluminum board, chipboard encapsulated, and others. Among these, the steel encapsulated segment dominates the market, accounting for a significant percentage of global sales due to its superior strength and durability. It also helps strengthen buildings built in earthquake-prone areas.
By application, the market is bifurcated into the data center, commercial office space, nonprofit management, and others. Over the forecast period, commercial office space dominating the market due to the commercial raised floors are highly recommended due to their popularity in office renovations. They are widely used for computer rooms and open office spaces, providing a stable floor and making the room aesthetically pleasing.
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List of Key Players in Raised Access Floor Market:
- Kingspan
- Global IFS
- CBI Europe
- Polygroup
- Bathgate Flooring
- MERO-TSK
- PORCELANOSA
- Lenzlinger
- Veitchi Flooring
- AKDAG S.W.
- UNITILE
- ASP
- Yi-Hui Construction
- Changzhou Huatong
- Changzhou Huili
- Huayi
- Maxgrid.
Key questions answered in this report:
- What are the growth rate forecast and market size for Raised Access Floor Market?
- What are the key driving factors propelling the Raised Access Floor Market forward?
- What are the most important companies in the Raised Access Floor Market Industry?
- What segments does the Raised Access Floor Market cover?
- How can I receive a free copy of the Raised Access Floor Market sample report and company profiles?
Report Scope:
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Recent Developments
- November 2021 - Tate Inc., the market leader in raised floor manufacturing, has announced the launch of its raised floor product, Cavity Floors. The cavity floor is a raised floor system designed for specific applications requiring limited or no access to the subfloor.
Regional Dominance:
- The new construction projects help North America dominate the global market.
North America is expected to dominate the global raised access floor market during the forecast period. Much of the demand in North America comes from new construction projects expected to drive the market. Demand for raised floors in the region is driven by the sheer size of end-user industries such as data centers, commercial businesses such as retail, semiconductor, and aerospace, and important public utility centers. The region is at the forefront of innovative manufacturing practices, supported by comprehensive product development focusing on energy efficiency, lower lifecycle costs, and sustainability. Growth in general commercial construction demand and the high availability of cheap labor have fueled growth in the Asia Pacific region. Key drivers of this region include the growing data center market due to the growing number of internet users, increased use of social media and high penetration of smartphones, increasing adoption of public and hybrid cloud services, and the need for businesses to move from server rooms to data centers.
Global Raised Access Floor Market is segmented as follows:
Raised Access Floor Market: By Type Outlook (2022-2028)
- Steel Encapsulated
- Calcium Sulphate Board
- Aluminum Board
- Chipboard Encapsulated
- Others
Raised Access Floor Market: By Application Outlook (2022-2028)
- Data Center
- Commercial Office Space
- Nonprofit Management
- Others
Raised Access Floor Market: By Region Outlook (2022-2028)
North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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