Acknowledging the kind of traction gained by this market, Industry Data Analytics recently published a study report asserts the global Precast Concrete Market size is projected to accrue voluminously by 2027 registering a phenomenal CAGR of 5.2% during the review period (2022 to 2027).
Rapid development in the residential construction sector is poised to enlarge the industry demand owing to growing investments in designer housing complexes. Additionally, rapid growth in urban population globally has led to a rise in demand for reasonable housing in emerging economies. According to the World Bank data, 54% of the global population, i.e., nearly 4.2 billion people reside in cities and this number will expand in the future with an anticipated addition of 1.2 million km2 area for new urban infrastructure by 2050.
Rapid urbanization and the exponential rise in population are the significant aspects endorsing market growth. The growing need for non-residential establishments such as airports, sports complexes, malls, and commercial spaces will efficiently influence an increased supply chain due to reduced construction time and cost-effectiveness. The increasing demand for residential spaces due to the growing population, coupled with the initiatives by the government to provide housing for the Economically Weaker Section (EWS), will further increase the demand for precast concrete. Moreover, the pursuit of better career opportunities has led to more urbanization activities, growing its use in offices and other commercial spaces.
Industry Developments:
03 December 2021 : CEMEX has joined ANDECE, the Spanish Association of the Precast Concrete Industry, in order to continue promoting and developing research and production of sustainable and innovative solutions in the world of precast concrete, as well as jointly plan strategies that favour the decarbonisation of this industry and promote its sustainability.
July 01, 2021 : Forterra, Inc. (Nasdaq: FRTA), a leading manufacturer of water and drainage infrastructure pipe and precast products in the United States and Eastern Canada, announced that it has acquired the business of Barbour Concrete Company & Barbour Building Systems (“Barbour”), a manufacturer of precast concrete products used in drainage, stormwater, utility and other infrastructure applications.
The Foldable Intermediate Bulk Containers (IBC) Market is growing at a very fast pace and has seen the focus of many local and regional vendors offering precise application products for multiple end users. The three dependencies for the status of major companies in the market are: company profile, profitable gross margin, and the prices they charge. These are the main players in this market includes Boral (Australia), LafargeHolcim (Switzerland), Gulf Precast (UAE), Olson Precast Company (U.S.), Larsen & Toubro Limited (India), CEMEX (Mexico), Forterra (U.S.), Tindall Corporation (U.S.), Spancrete (U.S.), Elementbau Osthessen GmbH & Co., ELO KG (Germany), Bouygues Construction(France), Balfour Beatty(U.K.), Oldcastle Precast (U.S.) and others.
Precast Concrete Market is segmented based on the Structure System , applications, End users, companies and regions.
Structure System
End Use:
The development of the market in North America is credited to advance and sustainable construction practices that are propelling the demand for advanced products. The market in Europe is anticipated to showcase substantial growth during the forecast period 2022-2027. This is owing to the growing usage of these concrete products for non-residential and infrastructural development. Implementation of precast concrete products has reduced the time needed for construction and labor costs, thereby boosting the market in the region. The market in Latin America will rise due to the high demand for residential construction. The development of infrastructure in Latin America is another factor responsible for the regional precast concrete market growth.
Report Attributes | Report Details |
Forecast Period 2022 to 2027 CAGR | CAGR of 5.2% during the review period (2022 to 2027). |
By Structure System |
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By End Use |
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By Companies | Boral (Australia), LafargeHolcim (Switzerland), Gulf Precast (UAE), Olson Precast Company (U.S.), Larsen & Toubro Limited (India), CEMEX (Mexico), Forterra (U.S.), Tindall Corporation (U.S.), Spancrete (U.S.), Elementbau Osthessen GmbH & Co., ELO KG (Germany), Bouygues Construction(France), Balfour Beatty(U.K.), Oldcastle Precast (U.S.) |
Regions Covered |
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Countries Covered |
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Base Year | 2022 |
Historical Year | 2017 to 2021 |
Forecast Year | 2022 to 2027 |
Number of Pages | 139 |
Customization Available | Yes, the report can be customized as per your needs |
What is the study period of this market?
The Precast Concrete Market is studied from 2017 - 2027.
What is the growth rate of Precast Concrete Market?
The Precast Concrete Market is growing at a CAGR of 5.2% over the next 5 years.
Who are the leading key players in Precast Concrete Market?
Boral (Australia), LafargeHolcim (Switzerland), Gulf Precast (UAE), Olson Precast Company (U.S.), Larsen & Toubro Limited (India), CEMEX (Mexico), Forterra (U.S.), Tindall Corporation (U.S.), Spancrete (U.S.), Elementbau Osthessen GmbH & Co., ELO KG (Germany), Bouygues Construction(France), Balfour Beatty(U.K.), Oldcastle Precast (U.S.)
What regions regions does this Precast Concrete Market report covers?
North America (the United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
What are the significant Structure System of Precast Concrete Market?
Beam and Column System, Floor and Roof System, Bearing Wall System, Façade System, Others
What are the significant End Use of Precast Concrete Market?
Residential, Commercial, Others
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SECONDARY RESEARCH
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PRIMARY RESEARCH
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MARKET ENGINEERING
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REPORT WRITING/ PRESENTATION
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