Screw piles are foundation underpinning elements constructed using steel shafts with helical flights. These are also referred to as screw anchors, helical piles, and helical anchors in the market that use them for building deep foundations. Screw piles are cost effective foundation systems installed using excavators fitted with a rotary driver head attachment. Presently, it is observed that many builders opt for screw piles when time constraints are involved with their construction projects. End-users are opting for high quality recycled steel screw-piles. This is found to be effective and has prevented the overall carbon footprint. The global screw piles market is estimated to reach US$ 1,365.4 Mn by 2027.
The global screw piles market is primarily driven by rapid growth in the construction sector across the globe. In addition, rise in huge investment by governments on infrastructure and public facilities has gained demand for screw piles. Furthermore, continuous growth in the commercial sector such as commercial kitchens, healthcare, business parks, institutions, and entertainment has led to the usage of screw piles in construction of foundations.
Screw piles are mostly preferred in urban construction due to its better ability of displacement, load bearing capacity, minimal site disturbance, immediate load carrying capability, and quick installation. Rise in marine, industrial, agricultural, defense, and the overall government sector has enhanced innovative civil structures. This is also boosting the screw piles market.
One of the major challenging factors impacting the growth of the screw piles market is increase in cost of raw materials such as steel, iron, etc. for manufacturing of screw piles. Additionally, inadequate soil conditions, and limitations imposed on installation of screw piles in construction due to geo-technical factors is a significant factor hampering the market. Additionally, limited number of suppliers providing customized screw piles as per requirement of the foundation, and fluctuation in demand patterns are projected to generate medium demand for screw piles.
However, increase in construction in the residential and non-residential sector is providing lucrative opportunities to the screw piles market. End-users are also opting for customized foundations that vary with the structure of piles. This is also an opportunity for manufacturers across the globe. Governments of various countries are emphasizing on building the infrastructure, public utilities, and transportation facilities. This also offers opportunities to enhance the sales of screw piles.
Increase in dependency of screw piles for construction has been a major trend. Dependence on screw piles for foundation and anchoring has been rising in the commercial construction sector. Robust continuous growth in the field of residential, non-residential, and industrial sectors are anticipated to play an important role in the growth of the screw piles market. In addition, rise in innovative construction such as solar farms, agricultural construction, and modular construction has also led to popularity of screw piles due to its quick installation ability and building up structure.
Leading global players are focusing on product innovation and collaboration to expand their business. Major screw piles market players profiled in the report are Almita Piling Inc., Hubbell Incorporated, TorcSill Foundations LLC, Earth Contact Products, GoliathTech Corporation, Pier Tech Systems LLC, Supportworks, Inc., and Magnum Piering Inc. This market is highly fragmented as large number of mergers and acquisitions are expected. Rivalry among existing players in the market is medium as adequate numbers of players are engaged in acquiring smaller players to gain market share.