Precast Concrete Market s expected to grow at a CAGR 5.3% by 2028

Precast Concrete Industry Overview

The global precast concrete market size was valued at USD 92.14 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 5.3% from 2021 to 2028.

 

Growing investments in infrastructure development projects in the Asia Pacific region are expected to be the primary factors driving the product demand over the forecast period. The infrastructure segment has been the major driver for the growing product adoption as the product has enabled the infrastructure companies to significantly reduce the overall project timelines and generate significant savings, in terms of labor and raw material costs. Major infrastructure components, such as girders, pillars, and bridge sections, are fabricated at an offsite location and transported to the project site at the time of installation.

 

Structural building components emerged as the largest product segment in the U.S. market in 2020. Growing emphasis on reducing the overall construction costs and improve efficiency are driving the residential & non-residential building constructors to adopt various offsite construction technologies, such as precast, prefabricated, and modular construction.

 

Gather more insights about the market drivers, restrains and growth of the Global Precast Concrete Market

 

Logistics plays an essential role in bridging the gap between module production and installation. The modules are fabricated within the factory environment and are transported over to the construction sites for installation. Industry players are focusing on optimizing the precast concrete supply chain to overcome the project delays caused due to logistics.

 

Major market participants are increasingly using various types of concrete admixtures including plasticizers, superplasticizers, accelerators, and waterproofing chemicals to reduce water usage and speed up the concrete curing process. Although the product has several advantages over conventional concrete, the cost of machinery and molds needed for the production is extremely high. Thus, the high initial investment is projected to hamper the overall market growth to some extent.

 

Browse through Grand View Research’s  Advanced Interior Materials Industry Research Reports.

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Precast Concrete Market Segmentation

Grand View Research has segmented the global precast concrete market on the basis of product, end-use, and region:

 

  • Precast Concrete Product Outlook (Revenue, USD Billion, 2017 – 2028)
    • Structural Building Components
    • Architectural Building Components
    • Transportation Products
    • Water & Waste Handling Products
    • Others

 

  • Precast Concrete End-use Outlook (Revenue, USD Billion, 2017 – 2028)
    • Residential
    • Non-residential
    • Infrastructure

 

  • Precast Concrete Regional Outlook (Revenue, USD Billion, 2017 – 2028)
    • North America
    • Europe
    • Asia Pacific
    • Central & South America
    • Middle East & Africa

 

Market Share Insights

  • January 2021: LafargeHolcim agreed to obtain Firestone Building Products, a commercial roofing and building envelope solutions company, for US$ 3.4 billion. This investment is expected to expand the company’s roofing portfolio and increase presence in the U.S.
  • July 2021: The business of Barbour Concrete Company & Barbour Building Systems, has been acquired by Forterra Inc., a manufacturer of precast concrete products used in drainage, stormwater, utility and other infrastructure applications.

 

Key Companies profiled:

Some prominent players in precast concrete market include,

  • Boral Ltd.
  • Lafarge
  • Gulf Precast Concrete Co. LLC
  • Olson Precast Company
  • CEMEX S.A.B. de C.V.
  • Forterra
  • Tindall Corporation
  • Spancrete
  • ELO Beton
  • Gulermak A.S.

 

Order a free sample PDF of the Precast Concrete Market Intelligence Study, published by Grand View Research.

 

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

 

 

 

 

 

 

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