Global Precast Concrete Market Size is estimated to expand rapidly in coming years, at a CAGR of 8.85 % from 2019 to 2027. In 2017, the global market valuation was USD 100.8 billion, and it is anticipated to be greater than USD xx.xx billion by 2027. The rise in precast manufacturing is expected to drive up building activities worldwide. Urban population development is a significant megatrend that in most countries transforms the building industry. However, demand for affordable housing, together with increased demand for transport and transportation facilities, is on the rise. To addition, this is projected to improve the demand in the next few years.
Global Market Growth Opportunities (Revenue, Growth) By 2019-2027
The main advantages of precast concrete were quick production periods and low costs. This makes the developers and businessmen famous. A plant environment can be controlled and tracked for temperature, striping time and mix designs, which are an important factor in the manufacture of solid concrete goods. Thus pre-prefabricated concrete buildings are better compared to conventional concrete buildings. The projections indicate a steady rate of growth for the sector between 2019 and 2026.
While precast concrete goods are sold cheaply, transport from factory to building site needs specific services. The industry requires skilled work because precast concrete is entirely different from traditional construction methods for the construction of houses. In addition, this will likely retain market growth during the forecast period.
This global market study report analysis offers in-depth insights, revenue details, and other vital information regarding the global precast concrete market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global precast concrete market report has been segmented on the basis of type, application, and region. It includes the estimation of the market size, in terms of value, with respect to 4 main geographies, namely, North America, Europe, APAC, and RoW.
By Product Type Insights: On the basis of product type, global precast concrete market has been segmented into structural, architectural, transportation, water & waste handling. Because of widespread use in residence and non-residential buildings, structural building components will be the fastest growing product type category in the pre-cast concrete industry.
Transportation is also one of the largest segments due to various governments across the globe's programs. OBOR and CPEC are some of the Chinese government's initiatives to boost the logistics capacity of Chinese nations.
For water and waste treatment goods, precast concrete has been used for several years. Water storage is used to transport water from rivers to cities, and devices to process sewage are used to shift water from towns to wastewater treatment plants. Cities are expected to expand and new cities will trigger demand for these kinds of products.
By End Use Insights: On the basis of end use, global precast concrete market has been segmented into residential, non-residential. The largest end use section on the economy is Residential. Growing population of the middle class worldwide generates substantial competition for affordable housing. Government housing policies are projected to further boost the market in favor of the vulnerable and the middle class community.
The non-residential sector is expected to show the highest rate of growth, as precast concrete will progressively be used in constructing non-residential buildings, malls, businesses, educational institutions, schools, hotels, and hospitals.
The precast concrete market is divided into regions that are North America - U.S, Canada, Other; Asia-Pacific -India, Japan, China, Australia, Other; Europe - UK, Russia, France, Brazil, Other; Middle East and Africa. Every region analysis details in sense of growth, revenue, volume, challenges, and opportunities with the regional and global key players. In the next couple of years Asia Pacific is projected to be a major regional sector. Rapidly increasing growth in the area has resulted in huge demand for cost-effective accommodation. Increased disposable income is also expected to lead to an increase in residential and non-residential construction in developing countries, notably China and India.
Global Precast Concrete Market Size, Share Analysis by Region 2019-2027
North America region is expected to be the highest growing region in the global market of precast concrete and is anticipated to maintain high CAGR over the forecast period. Market growth in this area is led by factors such as a rise in residential and non-residential building projects, an improvement in the population and the region's economic development. The growing population, urban development, industrialization, and policy expenditures in infrastructure development support the growth of the demand in the area.
It is estimated that North America, the dominating country in precast concrete market will show considerable growth during the forecast period. The growth would be possible because of marketing analytics tools and because of existing players that are firmly established in the market since the beginning. In addition to that, government agencies, companies, third-party administrators, etc. are channelizing their efforts to make customer-centric products which will also contribute to the growth in this region. Rising demand, increased income, advanced technology and machinery, along with the programs for spreading the awareness of the need will likely cause the precast concrete market to grow substantially.
Global Precast Concrete Market Study Objective
To forecast the market size of precast concrete market, along with describing and defining the market, in terms of volume and revenue as well as market opportunities for stakeholders, in order to provide a competitive landscape for global market players.
Market analysis and forecast of precast concrete market on the basis of region, substrate, and application or end-use industry. To profile major market players, and to analyze their market shares and essential competencies comprehensively.
To analyze and elaborate significant factors that will have a major impact on the growth of precast concrete market, such as drivers, restraints, challenges, and opportunities.
The regional analysis of precast concrete market, to induce market size of five global major regions, which include, Europe, North America, South America, Middle East & Africa, and the Asia Pacific.
Strategic analysis of micro markets, in terms of individual prospects, opportunities, growth trends and their involvement in the overall market.
To provide detailed analysis of competitive and strategic developments in the precast concrete market like a new product launch, partnership & agreement, investment & expansion, and company merger & acquisitions.
Key Players Landscape
Actividades de Construcción y Servicios, Bouygues Construction, Larsen & Toubro, Taisei, and Balfour Beatty, Skanska, CRH, Cemex S.A.B.DE C.V., Laing O’Rourke (UK), and Julius Berger Nigeria are some of the key players in the global market of precast concrete. Such manufacturers plan to supply customized goods to increase consumer base and market share. They also focus on increasing geographical reach in order to gain maximum application penetration, especially in developing countries. It is likely to be a key factor in success for companies to set up R&D centers, together with strategic partnerships with investment companies, to introduce innovative technologies.
Global Precast Concrete Market Study Report Offer You!
The global precast concrete market study report gives an idea about market size, share, stock, equity, investment and total price analysis. Also, the report provides comprehensively industry insights with all major factors such as market credit, allocation, demand, distribution, market scope, key players, end user & applications, provisions, livestock, commodities and industry economics analysis, future growth & forecast. The global market report includes all depth data like pre-market emphasis, market survey, market investment, industry advice, portfolio, finance, access, trade, market exploration, industry review and market predication & projection to develop effective strategies for optimizing their market position.
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