Top Driving Factors of Soil Stabilization Market with leading Key Players – Caterpillar, AB VOLVO, FAYAT, WIRTGEN GROUP, and CARMEUSE

The global soil stabilization market is estimated at USD 22.09 Billion in 2017, and is projected to reach USD 27.80 Billion by 2022, at a CAGR of 4.70% during the forecast period.

Northbrook, USA, 2020-Feb-21 — /EPR Network/ — The soil stabilization market is projected to reach USD 27.80 Billion by 2022, from USD 22.09 Billion in 2017, growing at a CAGR of 4.70%. Rapid urbanization and improved quality & properties of soil stabilization materials are some of the major factors that are expected to drive the demand for soil stabilization.

Soil Stabilization Market

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Based on application, the soil stabilization market has been segmented into industrial, non-agriculture, and agriculture. The industrial segment dominated the global market, and this trend is expected to continue through the forecast period. The rising technological advancements in machinery and additives help the industry players grow and capitalize on the existing opportunities. Soil stabilization finds industrial applications in roads, airfields, railroads, embankments, reservoirs, bank protection, canals, dams, and coastal engineering. With the infrastructure development across the globe, innovations are foreseen to drive the market for soil stabilization materials in the coming years.

The global market has been segmented, on the basis of method, into mechanical and chemical. The mechanical method segment dominated the global market with a majority of the share. The mechanical method includes various soil stabilization machines such as compactors, rollers, and pavers to improve the strength of the soil. The mechanical method helps in properly and consistently mixing the soil, which can be used in subgrades and design of foundations.

The South American market is projected to grow at the highest CAGR during the forecast period. The countries covered under the region include Brazil and Argentina. Rising demand for infrastructural development and increasing income levels in emerging economies such as Brazil and Argentina are the key factors that drive the growth of the soil stabilization market. The development and growth of various agricultural sectors drive the demand for soil stabilization in the region.

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The key players in the soil stabilization market include Caterpillar (US), AB VOLVO (Sweden), FAYAT (France), WIRTGEN GROUP (Germany), CARMEUSE (US), Global Road Technology (Australia), Soilworks (US), Graymont (Canada), SNF Holding (US), Aggrebind (US), IRRIDAN USA (US), and Altacrete (Canada). These key players focused on various business strategies such as the new product launches, agreements, partnerships, and expansions, to increase their market presence. Caterpillar and AB VOLVO are the top two companies in the soil stabilization market based on overall revenues, product offerings, and strategic activities related to the soil stabilization.

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