The global suspended ceiling system market is valued at USD 6.8 billion in 2022 and is projected to reach a value of more than USD 10 billion in 2030 expanding at a CAGR of 4.5% over the forecast period of 2022-2030.
Global suspending ceiling market- Overview
Suspended ceiling systems are defined as some secondary ceilings that are hung suspended above the structural floor slab, which creates a gap between the top of the suspended ceiling and the underside of the floor slab.
With the concealment of the underside of the floor slab, the void has offered a space useful for the distribution of heating, ventilation, and air conditioning (HVAC) services and plumbing and wiring services. It is also used for providing a platform for installing smart speakers, light fittings, wireless antenna, CCTV camera, fire & smoke detectors, motion detectors, sprinklers, and others.
Suspended ceiling systems are generally hung from a bracket fixed to the underside of the floor slab supporting a series of interlocking metal sections that form a grid into panels, such as, ceiling tiles that can be fitted.
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Key market trends- Growth determinant and challenges
Every market has its growth determinant and challenges. One of the major factor that has fuelled the market growth over the forecast period is the requirement of establishing affordable housing. Change in interior and exterior architectural trends in the construction sector has also increased the use of innovative designing and sales of suspended ceiling system in the protective building materials market.
Also, the demand for suspended ceiling system or panels for interior construction, and for the improvement of the overall aesthetics and acoustic insulation material has boosted the market.
Additionally, the progress that is made in the development of the aesthetic features of suspended ceiling system has also opened up new opportunities for the growth of the global suspended ceiling system market over the forecast period.
Acoustic insulation as well as technological developments has boosted the market growth over the forecast period.
Segmental analysis of the market
Based on Material
- Mineral wool
- Metal
- Gypsum
The metal segment has dominated the market growth over the forecast period.
Based on Product
- Ceilings
- Grid
The ceilings segment has dominated the market growth over the forecast period.
Based on End-User Industry
- Commercial construction
- Residential construction
- Industrial construction
The commercial segment has dominated the market growth over the forecast period.
North America is anticipated to amplify at a considerable CAGR
The global suspended ceiling system market is segmented into 4 main regions namely, North America, Europe, Asia Pacific, Middle east and Africa. Among these, North America has dominated the market growth over the forecast period. This is because of the greater adoption of suspended ceiling system and its unique properties.
Key market players
Some of the prominent companies operating in the market are
- Knauf AMF,
- Architectural Surfaces, Inc.
- Zhejiang,
- Youpon Integrated Ceiling Co Ltd,
- DAIKEN Corporation,
- Rockfon,
- Compagnie de Saint-Gobain S.A.
Major questions answered in this report
- what is the growth rate of the global suspended ceiling system market?
- What are the primary growth determinants of the market?
- Which are the major regions constituting the geographical landscape of the market?
- Which are the prominent companies operating in the market?
Key takeaways from the report
- The global suspended ceiling system market is projected to expand at a CAGR of 4.5% over the forecast period.
- The requirement of establishing affordable housing is aiding market progression.
- The ceilings segment is poised to expand significantly over the forecast period.
- North America has dominated the regional market sphere over the forecast period.
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