The Dimension Stones by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Dimension Stones, The dimension stones market size has grown strongly in recent years. It will grow from $8.6 billion in 2023 to $9.19 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to increase in demand for natural stones, strong economic growth in emerging markets, increase in production capacities and low-interest rate environment.
The dimension stones market size is expected to see strong growth in the next few years. It will grow to $11.68 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to increase in demand for natural stones, strong economic growth in emerging markets, increase in production capacities and low-interest rate environment. Major trends in the forecast period include employing precision surface excavation machines to carry out smoother operations in environmentally regulated areas, investment in robotics to improve mining productivity and prevent mining accidents, invest in cognitive computing to improve the efficiency of mining operations, investing in renewable energy capacities to reduce carbon emissions from mining zones, and ultimately drive down their energy costs, and usage of 3d mine visualizers to identify difficult terrains and enhance productivity.
The surge in capital expenditure on infrastructure development is projected to propel the revenue for the dimension stone mining market over the forecast period. Growth in capital expenditure on infrastructure is led by the growing population, rapid urbanization, strong economic growth, and migration of people toward urban areas. For instance, according to the Global Infrastructure Outlook, which forecasts infrastructure investment needs across 50 countries and seven sectors by 2040, the global population is expected to grow by almost 2 billion people or a 25% increase and around 46% of the global population will migrate from rural to urban areas by 2040, triggering massive demand for infrastructure support. Moreover, the outlook forecasts that the global infrastructure investments need to reach $94 trillion by the end of 2040, to keep pace with demographic and economic changes worldwide. The increasing expenditure on infrastructure is likely to generate a higher demand for stone materials in the buildings & construction industry, which in turn is expected to contribute to the market growth.
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The dimension stones market covered in this report is segmented –
1) By Type: Marble, Granite, Limestone, Sandstone, Other Types
2) By Mining Type: Underground Mining, Surface Mining
Product innovation is the key trend gaining popularity in the dimension stones market. Major companies operating in the dimension stones market are focusing on launching new dimension stone products for residential and commercial buildings. For instance, in May 2023, The Quarry an India-based manufacturer of dimension stones launched perfectly paired marble, granite, and onyx flooring dimension stones. The new dimension stone has a uniform thickness of 20 mm or 2 cm and an unparalleled degree of assistance from The Quarry Projects’ team of installation specialists.
The dimension stones market report table of contents includes:
- Executive Summary
- Dimension Stones Market Characteristics
- Dimension Stones Market Trends And Strategies
- Dimension Stones Market – Macro Economic Scenario
- Global Dimension Stones Market Size and Growth
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- Global Dimension Stones Market Competitive Benchmarking
- Global Dimension Stones Market Competitive Dashboard
- Key Mergers And Acquisitions In Dimension Stones Market
- Dimension Stones Market Future Outlook and Potential Analysis
- Appendix
Top Major Players :
- Vulcan Materials Company
- Martin Marietta Aggregates Inc.
- Heidelberg Cement AG
- CRH plc.
- Cemex S A B de C V
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