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According to the report published by Allied Market Research, North America Geogrid market to grow at 7% CAGR from 2020 to 2027. The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenarios.Surge in infrastructure development activities across the U.S. and Mexico drives the growth of the North America geogrid market. U.S. contributed the highest share in 2019, and will maintain its dominance throughout the forecast period. Geogrid manufacturers across the North America region have halted their production due to disrupted supply chain amid lockdown due to the Covid-19 pandemic.
The report offers a detailed segmentation of the North America geogrid market based on type, application, and country.
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Based on type, the biaxial segment contributed to the largest share in 2019, accounting for more than four-fifths of the total share, and is estimated to maintain its dominant position during the forecast period. In addition, it is also estimated to portray the highest CAGR of 7.0% during the forecast period.
Based on type in the North America geogrid market, the biaxial segment contributed to the largest share in 2019, accounting for more than four-fifths of the total share, and is estimated to maintain its dominant position during the forecast period. In addition, it is also estimated to portray the highest CAGR of 7.0% during the forecast period.
Based on industry, the road industry segment accounted for the largest share in 2019, holding more than one-third of the total share, and is expected to maintain the largest share throughout the forecast period. However, the soil reinforcement segment is expected to register the highest CAGR of 7.3% from 2020 to 2027.
Based on industry, the road industry segment in the North America geogrid market accounted for the largest share in 2019, holding more than one-third of the total share, and is expected to maintain the largest share throughout the forecast period. However, the soil reinforcement segment is expected to register the highest CAGR of 7.3% from 2020 to 2027.
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Covid-19 scenario in geogrid market in North America:
1. Geogrid manufacturers across the North America region have halted their production due to disrupted supply chain due to the Covid-19 pandemic.
2. The demand for geogrid is expected to decline as infrastructure and road & rail network development activities in the U.S. and Mexico has been halted.
3. U.S. is barring the trade relations with China, owing to its role and failure toward containing the spread of the coronavirus.
4. Thus, many geogrid manufacturers are shifting their production units from China to their native country. This transition is expected to increase labor costs and other operating expenses, which would surge the price of geogrid in the future.
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