The global Timber Construction Connectors market size is expected to be worth around US$ 6.13 billion by 2030, according to a new report by Vision Research Reports.
The global Timber Construction Connectors market size was valued at US$ 760.0 million in 2020 and is anticipated to grow at a CAGR of 14.9% during forecast period 2021 to 2030.
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Timber Construction Connectors Market (By Product: Timber to Timber, Timber to Masonry, Timber to Steel; By Application: Residential, Commercial, Infrastructure) – Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2021 – 2030
|Market Size||US$ 6.13 Billion by 2030|
|Growth Rate||CAGR of 14.9% From 2021 to 2030|
|Forecast Period||2021 to 2030|
|Segments Covered||Product, Application|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||Pryda (ITW, Inc.); Simpson Strong Tie Co., Inc.; MITEK INC.; Timberplates; Connext Post and Beam; Knapp GmbH; Eurotec GmbH; MTC Solutions; BPC Fixings (The Vista Group); Globus Industries; CQFD; Taurus India Limited|
The growing demand for wood-based constructions on account of the superior aesthetic appeal in the residential and commercial constructions is expected to drive the market. The suspension of construction activities in 2020 to curb the spread of the COVID-19 outburst has negatively impacted the wood construction activities, thus hampering the demand for connectors. Supply chain disruption and termination of trade activities across the globe emerged as the other key factors hampering market growth.
The timber to timber product segment accounted for the largest revenue share in 2020 and is anticipated to maintain its lead in the projected period. Growing demand for wood-based frame structures in residential as well as commercial construction projects is likely to ascend the demand for construction connectors.
By Product Analysis
Timber to timber construction connectors accounted for the largest revenue share of over 80.0% in 2020. Timber-to-timber connectors used in construction applications include split rings that are installed in pre-cut grooves.
The key components used for connecting timber to masonry include angle brackets, joist hangers, restraint straps, and other standard plates. These products are manufactured in a variety of shapes and sizes to match the requirements of construction projects as the beam size is not specified across wood construction.
Shear plates and toothed plates are widely used for bonding applications in wooden construction. Shear plates are installed in pre-cut grooves that can also flush into the timber surface with steel side plates or wood side plates.
By Application Analysis
The residential application segment led the market and accounted for a revenue share of more than 55.0% in 2020. Timber is sustainable and aesthetically pleasing in residential applications.
Increasing awareness regarding mass timber construction in the U.S. is projected to drive wooden construction significantly in the upcoming years.
Mass Engineered Timber (MET) is used for several applications including framing, casework, paneling, flooring, trims, cabinets, and interior design components owing to the superior qualities it offers as compared to conventional wood.
The commercial construction segment includes office buildings, government offices, shopping malls, hypermarkets, departmental stores, restaurants, hotels, resorts, and others.
Infrastructure applications for timber construction are still underway as it is less sturdy than concrete and cement. Structural developments for the enhancement of wooden strength are being investigated by governing authorities and industry participants.
By Regional Analysis
Europe dominated the market and accounted for a revenue share of over 35.0% in 2020. High penetration of wood-based constructions, especially in countries such as Germany, Sweden, and France, is expected to drive the demand for products.
Germany is likely to be the largest shareholder in the European market over the forecast period. This can be attributed to the high penetration of wood-based houses in the country and increasing trends for eco-friendly constructions.
- Pryda (ITW, Inc.)
- Simpson Strong Tie Co., Inc.
- MITEK INC.
- Connext Post and Beam
- Knapp GmbH
- Eurotec GmbH
- MTC Solutions
- BPC Fixings (The Vista Group)
- Globus Industries
- Taurus India Limited
- By Product
- Timber to Timber
- Timber to Masonry
- Timber to Steel
- By Application
- North America
- Asia Pacific
- South Korea
- Southeast Asia
- Central & South America
- Middle East & Africa
- North America
The study objectives of this report are:
- To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
- Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- To define, describe and forecast the market by type, application and region.
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends and factors driving or inhibiting the market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To strategically profile the key players and comprehensively analyze their growth strategies.
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