Asia-pacific Wooden Decking Market Forecast 2022-2030

Asia-pacific Wooden Decking Market Forecast 2022-2030

KEY FINDINGS

The Asia-Pacific wooden decking market is evaluated to grow with a CAGR of 5.31% during the forecasted years 2022 to 2030. The market growth of the region is predominantly ascribed to the rising focus on infrastructural development, the surging number of multifunctional towers, IT towers, logistical centers, and universities, and the rise in individuals relocating to urban regions from rural areas.

MARKET INSIGHTS

The Asia-Pacific wooden decking market growth evaluation covers the study of China, Japan, South Korea, Australia & New Zealand, Vietnam, India, Indonesia, Thailand, and Rest of Asia-Pacific. With a gross domestic product (GDP) of around 9%, the construction industry in India is the second-largest sector. However, the industry witnessed a major plummet owing to lockdowns following the emergence of the COVID-19 pandemic. Moreover, in the upcoming years, India is set to invest around $1.3 trillion in housing, with 60 million new dwellings being constructed.

The construction sector is an important driver of economic growth in Indonesia. By 2024, under the National Medium-Term Development Plan (2020-2024 RPJMN), the country’s government plans to invest $412 billion in industrial, energy, transportation, and housing infrastructure projects. Hence, the primary growth enablers of Indonesia’s construction industry entail the construction of affordable dwelling units for residential settlement and the expansion of transportation infrastructure. As a result, these factors are anticipated to propel the Asia-Pacific wooden decking market growth during the estimated period.

COMPETITIVE INSIGHTS

Some of the leading players operating in the market are Setra Group AB, INOVAR, Vetedy Group, etc.

Our report offerings include:
Explore key findings of the overall market
Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
Market Segmentation cater to a thorough assessment of key segments with their market estimations
Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments