Portland, OR, March 09, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global ready-mix concrete market was estimated at $491.61 billion in 2018 and is expected to hit $766.63 billion by 2026, growing at a CAGR of 5.5% from 2019 to 2026. The report offers a detailed analysis of top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and fluctuating market trends.
Rise in demand for ready-mix concreate sustainable infrastructure, increase in urbanization and industrialization in developing countries, surge in construction activities drive the growth of the global ready-mix concrete market. On the other hand, volatile economic conditions in Latin America, and loss of workability curtail down the growth. Nevertheless, increase in government and private investments in the infrastructure sector is anticipated to pave the way for an array of opportunities in the near future.
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The global market is segmented on the basis of type, application, and region. Based on type, the market is divided into transit mix concrete, central mix concrete, and shrink mix concrete. The transit mix concrete segment held the highest share in 2018, accounting for nearly three-fifths of the total market in 2018. On the other hand, the central mix concrete segment is expected to manifest the fastest CAGR of 6.3% by the end of 2026.
Based on application, the market is divided into commercial & infrastructure, residential, and industrial. The commercial & infrastructure segment garnered more than two-thirds of the global market share in 2018, and is projected to dominate throughout the forecast period. Contrarily, the residential segment would cite the fastest CAGR of 6.3% from 2019 to 2026.
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Based on region, Asia-Pacific contributed to more than two-thirds of the total market revenue in 2018, and is projected to maintain its top status during the estimated period. Simultaneously, the region across LAMEA would showcase the fastest CAGR of 6.3% from 2019 to 2026. The provinces of Europe and North America are also analyzed in the report.
The major market participants profiled in the market report include Barney & Dickenson, Inc., ACC Limited, CEMEX S.A.B. de C.V., Holcim Ltd., SIKA group, Ultra Tech Cement Limited, Vicat SA, Vulcan Materials Company CRH plc, and Heidelberg Cement.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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