SHOTCRETE MARKET ANALYSIS

Market Challenges And Opportunities

• High capital requirement for machinery and equipment: The high capital requirement for machinery and equipment is one of the major factors restraining the growth of global shotcrete market. Shotcrete application requires specialized machinery like shotcrete pumps, mixers, and robotic spraying systems which have a significant upfront cost. These machinery and equipment are technologically advanced and involve precision engineering to spray concrete at high velocity. For instance, a standard shotcrete pump can cost anywhere between US$100,000 and US$250,000 depending on the brand and horsepower. Similarly, an advanced robotic spraying system for large projects may cost over half a million dollars. The steep machinery prices pose a huge challenge for small and mid-sized construction companies to adopt shotcrete as a construction technique.
• Counter Balance: To counter balance this restrain, leasing and financing options can be used. Companies can explore leasing or financing options to mitigate the initial capital outlay for acquiring shotcrete machinery and equipment. This approach allows for the acquisition of necessary assets while spreading the cost over time, thus easing the financial burden.
• Lack of skilled workforce: The lack of skilled workforce has been one of the major restraints for the growth of the global shotcrete market. The shotcrete process requires professionals who are properly trained in operating shotcrete equipment and machinery. It also needs skilled workers who understand the application techniques, mix design procedures, and safety practices related to shotcrete construction. However, there is an acute shortage of such trained and skilled workers globally.
• This skill gap is also restricting contractors and construction firms from taking up large and complex shotcrete projects. They often hesitate to commit deadlines without ensuring the availability of requisite manpower. The delayed projects and missing of timelines affects the overall growth prospects of the market. According to 2020 data from the International Tunneling and Underground Space Association, nearly 60% of tunnel construction projects faced challenges in 2020-21 due to the lack of trained personnel globally (Review of the Worldwide Status of Tunneling, 2022). Owing to workforce constraints, many planned infrastructure developments could not incorporate the use of shotcrete to full potential.
• Counterbalance: To counterbalance this challenge, the market offers lucrative opportunities in the form of training and development programs to enhance the skills of the existing workforce and attract new talent to the industry. Additionally, advancements in shotcrete technology have led to the development of innovative products and services that require less skilled labor such as automated shotcrete machines and robotic shotcrete application systems.