The Global Precast Concrete Market is expected to grow at a CAGR of 6% during the forecast period of 2022-2028
The report gives a thorough market size, both historical and projected along with a trend analysis for the Americas, Europe, the Middle East & Africa, and Asia Pacific.
Dorinda C. Erwin
The report on industry trends and market size of the "Global Precast Concrete Market" examined by RationalStat assesses the global market on the basis of structures, product types, applications, end-user, and the region.
The report gives a thorough market size, both historical and projected along with a trend analysis for the Americas, Europe, the Middle East & Africa, and Asia Pacific. RationalStat in its report includes the market share, an analysis of production capacities of the leading firms, import and export trade statistics, the latest launch of products, an end-user overview, an analysis of the impact of Covid-19, and a competition study, an analysis of market strategy and areas of potential growth for the players that are targeted.
Analysis of the Market and its Dynamics
The precast concrete market is predicted to grow by around 6 percent over the period 2022-2028. The increasing popularity of green structures, coupled with the ever-growing urbanization rate and industrialization are the main reasons behind the rapid growth of the demand for precast concrete.
- Moreover, the construction industry's shift toward incorporating sustainable, environment-friendly, cost-effective, and modern construction techniques is expected to spur market growth in the forthcoming years.
- Furthermore, the rapid growth of the use of products in warehouse manufacturing and construction will propel the growth of this segment. The rapid adoption of new products has occurred in the field of infrastructure which has allowed firms to dramatically reduce project timelines while also saving both time and raw materials.
- In addition, the rising demand for residential structures with low to mid-rise projects, homes for sale, or public homes in emerging countries such as Australia is driving the expansion of the market for precast concrete. The precast concrete market is expected to grow due to the housing crisis, and the increased demand for low-cost and intelligent housing.
- Based on end-user, the Non-Residential/Commercial sector holds a dominant share of the market owing to the increasing urbanization and public infrastructure development.
- Based on region, Asia Pacific holds a prominent share of the global precast concrete market due to increased demand for commercial and residential structures is driving the growth in the region.
Due to the presence of many well-established companies in the global precast concrete market, there is intense competition in the global precast concrete market. With the increasing number of on-site accidents caused by the use of low-cost raw materials, end users are expected to increase their use of natural raw materials.
Besides, precast concrete is also a technologically friendly commercial building material as it does not interfere with local Wi-Fi, radio signals, or internet networks. This is anticipated to gain traction from the commercial sector in the forthcoming years.
Acquisitions, product launches, and partnerships are the identified industry trend in the global precast concrete market. Key market players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market.
- In June 2021, Cemex announced to invest nearly US$ 925 Mn from 2021 to 2023 to expand its cement production capacity in the Americas, Europe, and the Philippines, strengthening its market positioning in high-growth metropolitan cities.
- In February 2021, Skanska signed a US$ 334.6 Mn contract with Kanta-Hame Hospital District to build a new hospital in Hameenlinna, Finland.
Some of the prominent players are Cemex S.A.B de C.V, LafargeHolcim Ltd., Boral Limited, Balfour Beatty PLC, Forterra Inc., Laing O’rourke, ACS Group, Kiewit Corporation, Komatsu Ltd., Larsen & Toubro Limited, Tindall Corporation, Devinci Precast, Crh PLC and Skanska Ab, among others.
RationalStat has segmented the global precast concrete market on the basis of structure systems, product type, application, end-user, and region.
- By Structure Systems
- Water & Waste Handling Products
- Structural Building
- By Product Type
- Columns & Beams
- Floors & Roofs
- Others (pavement slabs, gliders, etc)
- By Application
- Relocatable Buildings
- Elemental Construction
- Manufactured Homes
- By End User
- Others (Agriculture, Civil works)
- By Region
- North America
- Latin America
- Rest of Latin America
- Western Europe
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific
- South Korea
- ASEAN (Indonesia, Vietnam, Malaysia, etc.)
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of the Middle East & Africa
For more information about this report: https://store.rationalstat.com/store/global-precast-concrete-market-analysis-forecast/
About RationalStat LLC
RationalStat is an end-to-end US-based market intelligence and consulting company that provides comprehensive market research reports along with customized strategy and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
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Dorinda Erwin, Content and Press Manager
Phone: +1 302 803 5429
Dorinda C. Erwin