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Sunday, 14 April 2024
Wednesday, 03 May 2023 12:00 am

Raised Floor Market is expected to reach US$ 1,842.65 million by 2028

The global raised floor market is registering at a CAGR of 6.5% from 2023 to 2028; it is projected to reach USD 1,842.65 million by 2028 from USD 1,283.52 million in 2022.

By The Insight Partners

Rising Construction of Commercial Buildings, Majorly Office Premises, Bolsters Raised Floor Market Growth

According to our latest study on “Raised Floor Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type and Application,” the market is projected to grow from US$ 1,283.52 million in 2022 to US$ 1,842.65 million by 2028; it is estimated to record a CAGR of 6.5% from 2023 to 2028.

In modern commercial premises, raised floors are heavily utilized in specialized areas such as information technology data centers, command centers, and computer rooms. The raised floors are used to fulfill the need to route mechanical services, cables, electrical supply, and wiring. Unitile has a portfolio of addressing raised floor-related requirements from Tata Communications, netmagic, Nxtra data, HCL, STTelemedia Global Data Centers, and Accenture. Polygroup is another company doing projects for providing raised floors for data centers and office buildings. The company has projects in Accra (Ghana), KPMG office buildings (Panama), and Nativa (Panama) for providing raised floors for data centers. . Following are a few construction projects contributing to the demand for raised floors: (CAT A Fit out bare raised floor system), 111 Cannon St London (New office development), Bostel House (Roof Conversion to Offices). Such projects contribute towards the rise of raised floor market. 

Raised Floor Market – by Region, 2022 and 2028 

To get free sample copy of the report, along with the TOC, Statistics, and Tables please visit @ https://www.theinsightpartners.com/brochure/TIPRE00029874

Source: The Insight Partners Analysis

  • In March 2023, in the US, Grimshaw Architects announced that it is seeking ahead to transform a parking lot in Chinatown into a creative hub. The 130 West College Street is expected to be an office building with large spans of glass open to a public-facing outdoor deck space. Also, meeting room and other spaces for private work are planned to be placed within the building’s core.
  • In March 2023, in India, the DMI Group's real estate private equity division’s OKAS announced that it is looking forward for their second real estate fund worth US$ 500 million. This fund will be used for office space and affordable housing projects. 

Therefore, rising construction of office buildings propels the raised floors market growth.

The raised floor market is segmented on the basis of type, application, and geography. Based on type, the raised floor market is segmented into steel encapsulated, calcium sulphate board, aluminum board, and chipboard encapsulated.  Based on application, the raised floor market is segmented into data center, commercial office space, clean room floor system, and seismic isolation floor system. By geography, the raised floor market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, South America, and Africa.

Impact of COVID-19 Pandemic on Raised Floor Market Growth

The COVID-19 pandemic dramatically impacted the global economy and hampered business activities in various industries during its peak in 2020. Industries showed tremendous resilience with ease in restrictions and reopening of business units in 2021. Although the global raised floor market was adversely impacted by the COVID-19 pandemic in 2020, it achieved a strong recovery. The market is expected to grow in the coming years due to rising demand for raised floors across the world.

Kingspan Group Plc; MERO-TSK International GmbH & Co. KG; GAMMA Industries SAS; Lindner Group; Changzhou Huateng Access Floor Co Ltd; Mero Asia Pacific Pte Ltd; ASP Access Floors Pty Ltd; ASM Modular Systems Inc; and HUATONG XINLI FLOORING CO., LTD. are a few raised floor market players operating in the industry.

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