The industry report on “Global Precast Concrete Market” studied the precast concrete market globally based on the basis of structure systems, product type, application, end-user, and region. The report provides a detailed historical and future market size with trend analysis for the Americas, Europe, the Middle East & Africa, and the Asia Pacific. RationalStat, in its report, provides market share analysis, production capabilities of the top companies, import & export trade data, new product launches, end user overview, Covid-19 impact analysis, competition analysis, market strategies, and potential growth areas for the target players.
Market Overview and Dynamics: The resistance of the precast concrete insects, fires, natural disasters, and protection against wind, rain, earthquake, decay, etc. is expected to fuel the expansion of the global precast concrete market in the upcoming years
The global precast concrete market is expected to grow at a CAGR of around 6% during the forecast period of 2022-2028. The growing prevalence of green buildings coupled with constantly rising urbanization and industrialization are the primary factors driving the growth of the global precast concrete market.
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.
In addition, high product adoption in warehouse and factory construction is expected to drive segment growth. Product adoption has been rapid in the infrastructure sector, where it has enabled companies to significantly reduce project timelines while saving money on both labor and raw materials.
Furthermore, the growing preference for low-to-mid-rise residential buildings, project homes, and public housing in various developing countries like Australia is driving the growth of the precast concrete market. The precast concrete market is expected to grow as a result of the housing crisis and increased demand for affordable and smart 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.
Competition Analysis: Various features of Precast Concrete like technological friendly are anticipated to propel market growth in the upcoming years
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
- North America
For more information about this report: https://store.rationalstat.com/store/global-precast-concrete-market-analysis-forecast/
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