Concrete Restoration Services Market

Concrete Restoration Services Market Outlook (2022 to 2032)

The global concrete restoration services market is set to achieve a valuation of US$ 9.5 billion in 2022 and further expand at a CAGR of 5.3%, reaching US$ 15.9 billion by the end of 2032. During the historical period (2017 to 2021), the market expanded at a CAGR of 4.5%.

Concrete restoration is the subset of repair and rehabilitation services, and the subset segment contributes close to 20% of the total revenue generated in the global repair and rehabilitation services market. Infrastructure development has been on a rising spree over the last few years. The construction and development of new buildings, bridges, and roads are in full swing and the trend is expected to continue over the next few decades.

However, at the same time, a significant problem of aging infrastructure is arising. Constructions that were developed before the '90s have started falling apart on many levels. From broken pillars to damaged floors, all these require repair and restoration services. As concrete as a material is exposed to different weather conditions, climate changes also affect its lifespan and performance.

For the next few years, demand for concrete restoration services will be constant or grow at a steady rate as major focus of the construction industry is on new development projects. It is expected that spending on new construction will grow at a moderate rate and major focus will shift towards the restoration of the old constructions.

The adoption of technology by industry leaders will save time and money for both consumers and service providers, ultimately leading to higher demand and increased topline numbers.

Report Attributes	Details
Concrete Restoration Services Market Size (2021A)	US$ 9 Billion
Estimated Market Value (2022E)	US$ 9.5 Billion
Forecasted Market Value (2032F)	US$ 15.9 Billion
Global Market Growth Rate (2022 to 2032)	~5.3% CAGR
North America Market Share (2021)	~29%
East Asia Market Growth Rate (2022 to 2032)	~6.4% CAGR
United States Market Growth Rate (2022 to 2032)	~4.7% CAGR
Key Companies Profiled	A-1 Concrete Leveling & Foundation Repair; Banks Industrial Group, LLC.; Concrete Repairs Ltd.; Concrete Restoration Services; CRM Construction Inc.; Daniello and Associates, Inc.; Durable Surfaces; Hystrength Construction Co. Inc.; Rapid Concrete Solutions, Inc.; Sabrecon Corporation; Sealability Ltd; Snapp Industries, Inc.; Sterling Technotrade India Pvt Ltd; Tarlton Corporation; Total Restoration Services

Why are Concrete Restoration Services Gaining Importance

“Rising Pressure on Existing Infrastructure Due to Increasing Population”

The global population is rising continuously, though in percentage terms it is only 0.84%. However, in terms of numbers, we are adding 65-70 million people every year, which is creating pressure on the existing infrastructure.

Every year a new set of different vehicles comes onto the roads, ultimately creating pressure on bridges, roadways, and parking spaces, among others. Continuous rising pressure of the population creates wear and tear and the need for concrete repair and restoration arises. Pillar filling, floor restoration, and roof repair are some of the common services provided by concrete restoration companies.

“Aging of Existing Infrastructure”

Most of the great monuments and iconic infrastructures around the world were made generations ago, and now the time has come when these iconic sites are in great need of repair and restoration.

Almost half of the total restoration services are being demanded by Europe and North America combined. Most of the bridges and dams in Europe and North America are made of concrete. Concrete as a material is prone to climate change. Factors such as humidity, high/low temperature, air pollution, and constantly changing environment have an effect on the longevity of concrete.

Though concrete is resilient and versatile, due to aging, the sites/monuments built with concrete require time-to-time proper repair and maintenance to keep them running for a longer period. With every passing year, existing bridges and buildings all become old and would require timely concrete restoration, resulting in continuous demand for services provided by concrete restoration companies.

What are the Challenges Faced by Concrete Restoration Service Providers?

“Strict Government Guidelines”

Many countries across the world have strict rules and regulations for any kind of restoration service. In the case of infrastructure restoration, countries such as the U.S. and U.K. have strict rules set out in the public domain. In terms of value, a majority of the projects come from government or public companies; it is the government that decides which project will be carried out for restoration.

Sometimes, from a government’s perspective, it is not feasible to go for a concrete restoration given the age of the construction or the cost associated with the restoration services. This poses a hindrance to the growth of concrete restoration service providers. In emerging economies, governments are spending money on developing new infrastructure rather than restoring existing ones. Such activities may affect the revenue of cement restoration service providers in the long run.

Image presents market analysis of concrete restoration services based on end-use application and region. Under the end-use application, demand for the restoration of bridges accounts for 38% of the total market share.

Country-wise Insights

Will the U.S. Continue to Lead Demand for Concrete Restoration Services?

The use of concrete in overall construction in the U.S. is one of the highest among all developed countries. Also, the average age of iconic buildings and bridges in the U.S. is one of the highest in the world.

Initiatives by the U.S. government to repair and restore the existing construction have led to an increase in the demand for concrete restoration services. The U.S. concrete restoration services market is expected to reach a valuation of US$ 2.3 billion in 2022.

Overall spending on new infrastructure development as well as existing ones is increasing which is resulting in huge demand for restoration companies. Extreme weather conditions in the U.S. have also led to the fast deterioration of concrete bridges, roads, and other monuments.

Why is China’s Concrete Restoration Services Market Rising the Fastest Among Major Economies?

China is one the largest producers as well as consumers of concrete in the world. Currently, China is spending huge amounts of money on infrastructure development and the trend will continue in the future.

Given the climate changes and heavy uses of the infrastructure, the concrete restoration industry is expected to have robust demand in the next few years.

The concrete restoration services market in China is expected to expand at a CAGR of 7.1% during the forecast period. Large population along with increasing number of vehicles on the roads creates huge pressure on existing bridges and roadways, resulting in cracks and damage. To keep the economy functioning as per its natural flow, timely repair and restoration of overall infrastructure are very important.

Category-wise Insights

Why Do Bridge Restoration Services Account for Most Revenue Generation

In developed countries, most of the iconic bridges are centuries old, and with the growing population and constant pressure, proper repair and restoration are required in a timely manner.

Governments across the globe spend millions of dollars on the concrete restoration of bridges. Global spending on the concrete restoration of bridges in 2021 was US$ 3.4 billion. As these bridges are an essential part of the day-to-day commute, building a new bridge is not an easy task. Most of the time, governments keep on repairing and maintaining existing bridges, until a new one is built. And even if the new one is made, demand for restoration keeps on increasing as with by every passing year, with the pressure of increasing population, aging bridges get damaged and suffer breakdowns.

Why Will Restoration of Parking Spaces Increase Significantly?

Increasing number of vehicles on roads has resulted in the shortage of parking spaces throughout the world. Earlier there was one car/bike/vehicle per house, but with the increasing spending power and earning members of the family, the demand for vehicles has increased manifold in the recent past.

However, the supply of parking is limited as one cannot park their vehicle on the road. This has created a shortage of parking spaces. The pressure on existing parking spaces is increasing, which is resulting in damage, creating demand for restoration services. For the year ended 2021, global spending on the concrete restoration of parking spaces was US$ 360 million. The trend is expected to continue amid the increasing construction of new parking spaces and rising vehicle ownership, especially in emerging economies.

Competitive Landscape

Prominent market players in concrete restoration services are A-1 Concrete Leveling & Foundation Repair, Banks Industrial Group, LLC., Concrete Repairs Ltd., Concrete Restoration Services, CRM Construction Inc., Daniello and Associates, Inc., Durable Surfaces, Hystrength Construction Co. Inc., Rapid Concrete Solutions, Inc., Sabrecon Corporation, Sealability Ltd, Snapp Industries, Inc., Sterling Technotrade India Pvt Ltd, Tarlton Corporation, and Total Restoration Services.

The global concrete restoration market is highly competitive owing to many large and local players operating in the market. No big player holds a major share of the market. Partnerships, location expansion, and integration of technology are some of the key steps taken by market players to increase their market share.

The concrete manufacturing industry has witnessed some notable mergers and acquisitions in recent times. However, the concrete restoration services market is covered by multiple small and large companies; hence, the industry does not have inorganic business trends.

Fact.MR has provided detailed information about the providers of concrete restoration services positioned across regions, revenue growth, and service offering expansion, in the recently published report.

Segmentation of Concrete Restoration Services Industry Research

• By End-use Application :

  • Bridges
  • Roadways
  • Buildings
  • Parking Garages
  • Industrial Facilities
  • Water Treatment
  • Others

• By Region :

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Middle East & Africa