Faceplates Market Share

North America Market Analysis

On the basis of regional analysis, the global faceplates market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.

North America industry is likely to dominate majority revenue share by 2037,attributed to growing infrastructural development in the region, backed by need for housing and employment facilities amongst the population. According to the statistics by the World Bank, over 80% of North America’s total population lives in urban areas, which is anticipated to increase the demand for housing and employment facilities. Moreover, secondary research analysis stated that the United States is the largest construction faceplates market in the world, with expenditure amounting to more than 1 billion. Additionally, as of 2020, the construction industry in the United States holds over 4% of the GDP of the nation.  Furthermore, increasing investments for building new commercial infrastructures in the region is also estimated to boost the market growth by the end of 2021. According to the data by the U.S. Energy Information Administration (EIA), the total number of commercial buildings in the United States increased by 6% from 2012 to 2018.

APAC Market Statistics

Alternatively, the Asia Pacific market is estimated to experience a remarkable CAGR over the forecast period and garner notable revenues on account of the escalating urbanization coupled with the growing population in the region. As per the data of World Bank, the GDP per capita growth (annual %) in the East Asia & Pacific region recorded 3.16% as of 2019.