Market Size of Expansion Vessel Membrane Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 5.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Expansion Vessel Membrane Market Analysis
The expansion vessel membrane market is projected to register a CAGR of over 5% during the forecast period.
COVID-19 negatively impacted the market in 2020. Several countries imposed duties on importing a particular variety of steel products. All the construction work and other activities were on hold to curb the spreading of the virus, thereby negatively affecting the market. However, the market is projected to grow steadily, owing to increased building and construction activities in the post-pandemic period.
- Over the short term, bullish growth trends in residential and commercial construction, coupled with increasing demand from the power generation industry, are major factors driving the growth of the market studied.
- However, high capital investment is a key factor anticipated to restrain the growth of the target industry over the forecast period.
- Nevertheless, developing newer materials for expansion vessel membrane construction will likely create lucrative growth opportunities.
Expansion Vessel Membrane Industry Segmentation
The expansion vessel membrane is a layer inside the metal casing of the expansion vessel, which includes different functions, such as protection and movement of liquid. The expansion vessel membrane market is segmented by product type, application, and geography. By product type, the market is segmented into the diaphragm and bladder. By application, the market is segmented into domestic water systems, automotive, and other applications. The report also covers the market size and forecasts for the expansion vessel membrane market in 3 countries across the Middle East and Africa. For each segment, the market sizing and forecasts have been done based on revenue (USD million).
| Type | |
| Diaphragm | |
| Bladder |
| Application | |
| Domestic Water Systems | |
| Automotive | |
| Other Applications |
| Geography | |
| Saudi Arabia | |
| South Africa | |
| United Arab Emirates | |
| Rest of Middle-East and Africa |
Expansion Vessel Membrane Market Size Summary
The Middle-East and Africa expansion vessel membrane market is poised for steady growth, driven by a resurgence in construction activities and increased demand from the power generation sector. The market experienced setbacks due to the COVID-19 pandemic, which led to delays and cancellations of projects across the region. However, the post-pandemic recovery has seen a boost in residential and commercial construction, particularly in Saudi Arabia and South Africa. Major projects like Saudi Arabia's Neom and the Red Sea Project, along with South Africa's Cornubia housing project, are expected to significantly contribute to the market's expansion. Despite the high capital investment required, the development of new materials for expansion vessel membranes presents promising opportunities for growth.
South Africa is anticipated to lead the market in the region, supported by its burgeoning automotive production and construction sector. The country's automotive industry has seen a resurgence, with increased vehicle production and sales, bolstered by government incentives. This growth, coupled with ongoing construction projects, is expected to drive the demand for expansion vessel membranes. The market is characterized by partial fragmentation, with key players such as Dillinger Middle East FZE, Hidayath Group, and others playing significant roles. Strategic moves, like Al Shirawi Equipment LLC's acquisition of Thor Middle East LLC and TMEA FZCO, are likely to enhance market presence and supply capabilities in the region.
Expansion Vessel Membrane Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Increasing Demand from Construction Industry
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1.1.2 Other Drivers
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1.2 Restraints
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1.2.1 High Capital Investment and Maintainance Costs
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1.2.2 Other Restraints
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION (Market Size in Value)
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2.1 Type
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2.1.1 Diaphragm
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2.1.2 Bladder
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2.2 Application
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2.2.1 Domestic Water Systems
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2.2.2 Automotive
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2.2.3 Other Applications
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2.3 Geography
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2.3.1 Saudi Arabia
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2.3.2 South Africa
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2.3.3 United Arab Emirates
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2.3.4 Rest of Middle-East and Africa
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Expansion Vessel Membrane Market Size FAQs
What is the current Expansion Vessel Membrane Market size?
The Expansion Vessel Membrane Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)
Who are the key players in Expansion Vessel Membrane Market?
Dillinger Middle East FZE, Hidayath Group, Kanoo Group, Lloyds Engineering Co. LLC and Al Shirawi Equipment Company LLC are the major companies operating in the Expansion Vessel Membrane Market.
