Raised Access Floor Systems Market, Size, Share, Growth, And Industry Analysis, By Type (Steel Encapsulated, Calcium Sulphate Board, Aluminum Board, Chipboard Encapsulated and Others), By Application (Residential Building, Commercial Building and Others), Regional Insights, and Forecast From 2024 To 2031

Raised Access Floor Systems Market Report Overview

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The global raised access floor systems market size was USD 1705.1 million in 2022 and is expected to reach USD 2689.31 million in 2031, at a CAGR of 5.2% during the forecast period.

The term "raised access floor systems" refers to an elevated, structural surface that is affixed to an already-existing floor and is usually constructed of cement or another strong material. The components of a raised floor system are numerous panels put in a pattern to create a flat surface. The primary materials for the blocks are steel or wooden cores that are then wrapped in a metal, such as aluminum. Glue or mechanical fasteners are used to hold the slabs in position. Computer spaces, training and meeting rooms, display areas, and general open office spaces are the locations most frequently where elevated or raised surfaces are installed.

A raised access floor system offers surface strength, protection, longevity, and safety for cable management. This is the main driver of growth for the target market. Additionally, during the projected period, increasing spending on control centers is anticipated to fuel market expansion. Such flooring's versatility has also aided in its popularity in the specialized market. Additionally, they save cash and make houses cozier for everyone since they require less maintenance than conventional flooring. Additionally, this has assisted in the growth of the pertinent market. Access to necessary utilities and services is also made easier and more visually pleasant at these levels. As a result, it is anticipated that the focused market's growth would pick up during the projection period.

COVID-19 Impact: Significant Impact on the Floor Systems Industry due to Government Imposed Lockdowns

The global COVID-19 pandemic has been unprecedented and staggering, with the raised access floor systems market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Raised access floor firms have been impacted by the COVID-19 pandemic. As governments imposed stringent lock-downs and businesses were closed, the COVID-19 virus spread across the globe. As a result, during the Covid-19 pandemic, it was difficult for people to walk around; as a result, the global market for raised access floor systems is expected to be significantly affected during the anticipated time frame. Additionally, the market expansion during the pandemic period was hampered by the ambiguous application of these high access floor items.

Latest Trends

"Multiple Prospects for Expansion Created by Hyperscale Service Providers' Massive Investments"

The expansion of the construction industry has led to an increase in the utilization of raised floor technologies. 2019 saw the opening or building of much more than 70 mega data centers. By 2023, it's anticipated that the US would have added roughly 30 additional mega data centers. As an illustration, GIGA Data Centers inaugurated a 60 MW data center in North Carolina, USA, in 2019. Apple said in December 2018 that it would spend USD 10 billion over the following five years building data centers all over the US. Advanced flooring producers are therefore anticipated to gain from investing heavily by hyperscale service suppliers.

Raised Access Floor Systems Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into Steel Encapsulated, Calcium Sulphate Board, Aluminum Board, Chipboard Encapsulated and Others

• By Application Analysis

Based on application, the market can be divided into Residential Building, Commercial Building and Others

Driving Factors

"Expansion of the International Market is Facilitated by an Increase in Construction Activity"

Due to the development of new homes and offices as a result of economic expansion and rising disposable income, many developing and emerging economies are experiencing an increase in the need for raised floor systems. In addition, as a result of climate change and the rise in natural catastrophes, a growing number of individuals are searching for methods to make their residences and workplaces safer and more disaster-resistant. Since they are so sturdy, steel wrapping sheets have become the most preferred option. Over the course of the forecast period, all of these elements are projected to fuel the worldwide raised access floor market's expansion.

"Increase in the Number of Data Centers is Growing the Need for Raised Floor Systems"

The technique of raised access floors is being used in data centers all around the world more and more. In developed nations including the United States and Canada, internet usage is expanding. The use of cell phones and other portable connected devices is growing, which will probably lead to a rise in this percentage as data usage rises. Technology developments during the previous ten years, including cloud technology, the internet of things and big data, are also credited with the data expansion. As a result, more data centers are being built, which in turn is increasing the need for raised access floor systems

Restraining Factors

"Increasing Raw Material Costs could Impede the Expansion of the Global Industry"

Increased access floors are no longer necessary due to rising material costs for steel and aluminum. Slabs can deteriorate and cost more money if raised floors are installed in moist regions or are exposed to chemicals. During the forecast period, these factors are anticipated to limit raised access floor systems market growth.

Raised Access Floor Systems Market Regional Insights

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"North America to Lead due to Requirement from Various End User Industries "

Over the course of the forecast, North America is anticipated to dominate the worldwide raised access floor systems market share. New construction projects are expected to fuel the market in North America and account for a large portion of demand. Large end-user industries including data centers, commercial enterprises such as commerce, electronics, and aviation, and significant regulated utility facilities all contribute to the region's requirement for elevated floors. With the help of thorough product development that prioritizes fuel efficiency, reduced lifecycle costs, and sustainability, the area is at the cutting-edge of modern production processes.

Key Industry Players

"Key Players Focus on Partnerships and Increasing their Online Presence to Expand their Market Share"

The major companies in the market for raised access floor systems employ a variety of tactics to expand their market share. To keep ahead of their rivals, many businesses are concentrating on creating new and improved versions of these systems. Some businesses are extending their reach by establishing operations in other regions. Additionally, they are collaborating and forging strategic alliances with other businesses to obtain access to fresh markets or technological advancements. In order to boost visibility and connect with potential clients, many businesses are also enhancing their presence online by building extensive websites, setting up social media profiles, and participating in online marketing initiatives.

LIST OF TOP RAISED ACCESS FLOOR SYSTEMS COMPANIES

• Kingspan Group (Ireland)
• Haworth (U.S.)
• CBI Europe (Italy)
• Polygroup (U.S.)
• Jansen Group (Switzerland)
• Bathgate Flooring (U.K.)
• MERO-TSK (Germany)
• PORCELANOSA (Spain)
• Lenzlinger (Switzerland)
• Veitchi Flooring (U.K.)

Report Coverage

This report covers the raised access floor systems market. The CAGR expected to be in during the forecast period, and also the USD value in 2022 and what it is expected to be in 2028. The effect COVID-19 had on the market in the beginning of the pandemic. The latest trends taking place in this industry. The factors that are driving this market as well as the factors that are restraining the growth of industry. The segmentation of this market based on type and applications. The region leading in the industry and why they will continue to do so during the forecast period. Further, the key market players, what all is being done by them to stay ahead of their competition as well as retain their market positions. All these details are covered in the report.