Concrete Cooling Market Share

APAC Market Statistics

Asia Pacific industry is estimated to hold largest revenue share of 39% by 2037, on the back of increasing construction activities in developing nations, such as China and India. The Asia Pacific region takes up 40% of the concrete cooling market. Hot environmental conditions, in addition to the potential for various infrastructure advancements, led to their dominance in this market. Given the high temperatures in these areas, the concrete and water ratio is altered, resulting in a loss in the durability and bonding qualities of the concrete as a consequence of the necessity for a concrete cooling system. With the development of financial resources in developing countries for a more affluent lifestyle, the construction business has developed quickly, as has the concrete cooling industry. As per the data by the India Brand Equity Foundation (IBEF), the Ministry of Road Transport and Highways has allocated a budget of USD 14.85 billion for FY 2021-22, while the government also aims to construct 23 new national highways by 2025. Moreover, the rising demand for concrete cooling for the construction of dams, backed by the growth of hydro energy in this region, is also projected to boost the market growth in the region.

North American Market Forecast

The concrete cooling market in the North American region is anticipated to garner a moderate market share during the forecast period on account of high expenditure on public infrastructure, along with the presence of major industries in developed economies, including the United States, and Canada. In 2018, about USD 90 billion were spent on highway and bridge construction in the U.S., which is projected to grow to about USD 105 billion by 2022. On the other hand, as a result of the cold temperatures in this region, North American countries have low to average concrete cooling requirements. Architecture and building activities in these locations require little or no cooling system, leading to low demand for the concrete cooling market and acting as a barrier to the expansion of the concrete cooling industry.

Middle East Market Statistics

The market in the Middle East region is estimated to garner a significant share during the forecast period. The heated climatic conditions culminated in this region's dominance. Also, the region's significant infrastructure growth over the previous few years, as well as the government's supportive stance on boosting the building and construction and construction equipment industry. Furthermore, owing to the individuals' evolving lifestyles and high disposable income the concrete cooling market is projected to witness substantial growth over the upcoming decades.