Renovation Keeps Raised Floors Afloat Amid Market Contraction

The European raised floor panel market, which performed steadily during the COVID-19 pandemic, is currently facing a slowdown due to decreased construction activities. Despite a slight decline of 0.5% in 2024, the market has shown resilience, particularly in renovation projects. The renovation segment has surged by 15.5% since 2020, while new constructions lag behind. Germany leads with a 26.3% market share, though Spain and the UK are expected to perform best in 2024.

Wood and Mineral Panels: The Go-To for Premium Solutions

Wood and mineral panels dominate the European market, holding substantial shares in France, Spain, and Benelux. Wood panels, already the biggest segment in these regions, are expected to continue growing. Mineral panels remain the second most popular, particularly in Italy and Germany, despite a slight dip due to raw material shortages. Encapsulated steel panels, although underperforming in the UK, are gaining ground in other areas.

Rising Data Centers and Changing Construction Trends

Data centers are driving market growth, with a forecasted annual increase of 3.5% until 2027. This surge counters the decline in the office segment, impacted by the rise in remote work and coworking spaces. The rapid expansion of cloud services, increased data consumption, and the push for digital transformation are fueling the need for more data centers. Public investments in healthcare and education are anticipated to mitigate some of the losses in the coming years. The stabilization in material prices and rising interest rates hint at modest price increases in the coming years.

Dominance of Key Industry Players

The raised floor panel market is led by prominent companies such as Lindner (Germany), Kingspan (UK), Mero (Germany), Gamma Industries (France), and Nesite (Italy), which together hold a significant market share of around 48%. These industry leaders drive the market through strategic innovations and acquisitions, shaping the competitive landscape.

25/11/2024

Copyright: Interconnection, Publication free of charge for coverage regarding the study and InterConnection Consulting.

Stefano Armandi

> Learn more about Stefano Armandi

Since 2013 Stefano Armandi has been responsible for the preparation of studies and consulting projects at Interconnection Consulting. He is an expert in market intelligence and the international economy, especially in the development of forecast models. Stefano Armandi previously worked for many years as a company consultant, before doing research and teaching at the International University Vienna. Stefano Armandi studied Economics at the University of Rome and completed a PhD Programme in Political Science at the Catholic University of Milan.

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