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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 Floor Bare Finish
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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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.
Raised Access Floor Market: Growth Drivers
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
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
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
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:
Key questions answered in this report:
By Product Type, By Application, And By End Use
Value (USD Billion), and Volume (Units)
Revenue in USD million/billion and CAGR from 2022 to 2028
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
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, and Maxgrid.
Market growth drivers, restraints, opportunities, Porter's five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
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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)
Raised Access Floor Market: By Application Outlook (2022-2028)
Raised Access Floor Market: By Region Outlook (2022-2028)
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