Dublin, Dec. 16, 2022 (GLOBE NEWSWIRE) -- The "Global Precast Concrete Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 by Product, Application, End-users, and Region" report has been added to ResearchAndMarkets.com's offering.
According to this analysis, the Global Precast Concrete Market is expected to record a positive CAGR of ~6% during the forecast period (2022-2028) and is expected to reach approximately US$ 155 billion by 2028.
Factors like increasing investments by industry players, rise in construction activities across the globe, and high adoption of precast concrete over on-site cast concrete are positively impacting the market growth.
Precast concrete is superior to on-site cast concrete in several ways in terms of building infrastructure. It offers a superior level of quality than conventional techniques which is mainly due to proper technical management. One of the primary advantages of precast concrete over traditional concrete is the speed of construction as it cuts down one-third of the construction time. As a result, Precast Concrete Market is rising due to less time and effort needed as well as the high level of durability of precast concrete structures.
Concerns about high capital costs, handling difficulty, transportation, and modification limitations are to limit market growth, especially in developing countries
Precast concrete has several advantages over conventional concrete, but its use in developing nations is limited by the considerable investment needed. Precast concrete things must be manufactured using expensive tools and molds that must be made using cutting-edge technology by highly skilled labor, which looks to be quite demanding for developing regions.
The high upfront cost is anticipated to restrict expansion shortly. Even though the cost of producing precast concrete is decreasing, there are still costs that could limit the market.
Scope of the Report
The Precast Concrete Market is segmented by product, application, and end-user. In addition, the report also covers market size and forecasts for the four major regions' Precast Concrete Market. The revenue used to size and forecast the market for each segment is US$ billion.
By Product
- Beam and Column System
- Floor and Roof System
- Bearing Wall System
- Facade System
By Application
- Structural Building Components
- Architectural Building Components
- Transportation Products
- Waste & Water Handling Products
By End-User
- Residential
- Commercial
- Infrastructure
- Industrial
By Geography
- North America (USA, Canada, and Mexico)
- Europe (Germany, UK, France, Spain, and Italy)
- Asia Pacific (China, Japan, South Korea, India, Indonesia, and Australia)
- LAMEA (Latin America, Middle East, and Africa)
Key Players
- LafargeHolcim
- ARTO
- Sauereisen
- Kijlstra precast Ltd
- Carlow Precast Concrete Engineering
- Qingdao Qingde Precast Accessories Co., Ltd
- Great Magtech (Xiamen) Electric Co., Ltd
- Tindall
- Oldcastle Infrastructure
- Boral Limited
- Forterra
Key Trends by Market Segment
- By Product: The beam and column system segment held the largest market share in the Global Precast Concrete Market in 2021
- Beams and columns are being demanded as it speeds up construction as well as provide several benefits including quality assurance, increased production, and cost-effectiveness. Furthermore, it is being increasingly adopted by both, household and business sectors for its qualities including architectural flexibility, environmentally friendly building, extended life, durability, low maintenance, and water resistance.
- By Application: The structural building components application segment held the largest share of the Global Precast Concrete Market in 2021.
- The structural building components segment is anticipated to see growth due to the strong demand from the construction sector. The category includes several precast products used as columns, pillars, and joints in the building of residential and commercial constructions.
- Furthermore, Precast Concrete Market is anticipated to be significantly influenced by the growing use of structural construction components in affordable housing along with global industrialization including an increase in shopping centers, hotels, and hospitals.
- By End-User: The infrastructure end-user segment held the largest share of the Global Precast Concrete Market in 2021.
- Precast concrete demand is expected to rise as energy efficiency and life-cycle management are given more attention. To improve building structure quality, reduce overall construction time, and lower labor costs, major industry participants are increasingly using precast concrete structures for the construction of infrastructure projects.
- By Geography: North America accounted for the largest market share in 2021 within the total Global Precast Concrete Market.
- The positive growth trends in countries such as USA and Canada, have boosted the demand for precast concrete products and applications in recent years. The demand for precast concrete in the construction industry has been growing rapidly as demand for dynamic building materials and concern for strong construction has increased
Key Topics Covered in the Report
- Snapshot of the Global Precast Concrete Market
- Industry Value Chain and Ecosystem Analysis
- Market size and Segmentation of the Global Precast Concrete Market
- Historic Growth of the Overall Global Precast Concrete Market and Segments
- Competition Scenario of the Market and Key Developments of Competitors
- Porter's 5 Forces Analysis of the Global Precast Concrete Market
- Overview, Product Offerings, and SWOT Analysis of Key Competitors
- COVID-19 Impact on the Overall Global Precast Concrete Market
- Future Market Forecast and Growth Rates of the Total Global Precast Concrete Market and by Segments
- Market Size of Product/Application Segments with Historical CAGR and Future Forecasts
- Analysis of the Precast Concrete Market in Major Regions
- Major Production/Consumption Hubs in the Major Regions
- Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
- Overview of Notable Emerging Competitor Companies within Each Major Country
Major Players Mentioned in the report
- LafargeHolcim
- ARTO
- Sauereisen
- Kijlstra precast Ltd
- Carlow Precast Concrete Engineering
- Qingdao Qingde Precast Accessories Co., Ltd
- Great Magtech (Xiamen) Electric Co., Ltd
- Tindall
- Oldcastle Infrastructure
- Boral Limited
- Forterra
- Atlas Group
- Bex technology
- Cuby technology
- Minolite
- PLINX
Frequently Asked Questions
- What is the Study Period of this Market Report?
- The Global Precast Concrete Market is covered from 2017-2028 in this report, which includes a forecast for the period 2022E-2028F
What is the Future Growth Rate of the Global Precast Concrete Market?
- The Global Precast Concrete Market is expected to witness a CAGR of about 6% over the next six years
What are the Key Factors Driving the Global Precast Concrete Market?
- Key trends driving market expansion include increasing investments by industry players, a rise in construction activities across the globe, and high adoption of precast concrete over on-site cast concrete
Which is the Largest Product Segment within the Global Precast Concrete Market?
- The beam and column system product segment held the largest share of the Global Precast Concrete Market in 2021
For more information about this report visit https://www.researchandmarkets.com/r/8fpbl5
