Pune, July 14, 2023 (GLOBE NEWSWIRE) -- A global Material & Chemical business consulting firm, Maximize Market Research, has published a market intelligence and competitive landscape report on the “Precast Construction Market”. The report is a combination of primary data and secondary data and domain expert has analyzed the Precast Construction Market from a local as well as a global point of view. Over the forecast period, Maximize Market research expects, the market to grow from USD 148.5 Bn in 2022 to USD 217.46 Bn in 2029 at a CAGR of 5.6 percent.
Precast Construction Market Report Scope and Research Methodology
| Market Size in 2022 | USD 148.5 Bn. |
| Market Size in 2029 | USD 217.46 Bn. |
| CAGR | 5.6 percent (2023-2029) |
| Forecast Period | 2023-2029 |
| Base Year | 2022 |
| Number of Pages | 278 |
| No. of Tables | 118 |
| No. of Charts and Figures | 113 |
| Segment Covered | Type, Structural Component and Application |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
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The report determines the Precast Construction Market share, size, current and future trends and forecast. It also includes a detailed analysis of drivers, restraints, opportunities and challenges in the Precast Construction industry. The competitive landscape includes detailed information on the position of Precast Construction key players in the industry with their partnerships, business growth and acquisitions, company profiles including company overviews, product benchmarking, company insights and SWOT analysis. To estimate the global and regional Precast Construction Market size, the bottom-up approach was employed. The primary and secondary data collected for the Precast Construction industry report were combined and analyzed in detail, which helps to provide accurate and error-free data to clients. PESTLE analysis was used to understand the potential impact of the macroeconomic and micro-economic factors affecting the Precast Construction Market, which helps to understand the market through various perspectives that makes it an investor’s guide. Porter’s five forces analysis is also included in the report with an in-depth analysis of the growth opportunities in the Precast Construction Market to the new entrants. Thus, the report provides the current as well as future market outlook of the Precast Construction industry in detail.
Precast Construction Market Overview
Precast construction is a technique used to manufacture custom components such as walls, slabs, beams, stairs and others. It is a technology where concrete and other construction materials are mixed, poured or cured in a controlled environment in the production units. As per the study, the precast construction industry is expected to have substantial growth over the forecast period.
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Precast Construction Market Dynamics
During the forecast period, the market is expected to be driven by the growing construction industry due to the increasing investments in infrastructure development. Precast concrete is used in the production of building components such as sound walls, wall panels, highway barriers, manholes and building foundations. Compared to other alternatives, precast concrete structures are stronger, more durable and can be easily constructed in less time, which in turn is expected to drive the Precast Construction Market growth. Government organizations in developing countries are majorly focusing and investing in the development of commercial and industrial infrastructures by implementing and assigning projects.
The volatile prices of raw materials and energy used in precast construction are one of the main restraining factors for the market. Fluctuating prices affect the profit margin of manufacturers as well. The volatile transportation charges are a major challenge for the market. The transportation charges include fuel charges, warehouse costs, workforce costs and handling charges. The increase in the prices increases the overall production cost.
Precast Construction Market Regional Insights
The North American Precast Construction Market dominated the global market in 2022 and is expected to retain its dominance during the forecast period. The regional market is mainly driven by the increasing construction activity in the commercial and residential sectors. In the region, the market in the United States and Canada is majorly growing due to the increasing demand for precast concrete products. It is mainly increasing because of the demand for dynamic building materials and rising concern for strong construction.
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Precast Construction Market Segmentation
By Type
- Modular Homes
- Manufactured Homes
Based on Type, the Modular Homes segment dominated the global market in 2022 and is expected to retain its dominance during the forecast period. In the coming years, the Manufactured Homes segment is expected to hold a significant share of the market.
By Structural Component
- Beams
- Walls
- Columns
- Facade System
- Floor and Roof Systems
- Staircases
- Girders
Based on Structural Component, the Floor and Roof segment dominated the global Precast Construction Market in 2022 and is expected to continue its dominance during the forecast period. The Girders segment is expected to grow rapidly in the future. Girders are mainly used for the construction of bridges and large building structures.
By Application
- Residential
- Infrastructural
- Industrial
- Commercial
Based on Application, the Commercial segment dominated the global market in 2022 and is expected to retain its dominance during the forecast period. The Residential segment is expected to grow in the future due to the increasing disposable income in developing as well as developed countries.
Precast Construction Market Key Competitors include:
- Olson Precast Company
- L.B. Foster Company
- Larsen & Toubro Limited
- Boral
- Komatsu Ltd.
- TAISEI CORPORATION
- LAING O’ROURKE
- Tindall Corporation
- CEMEX S.A.B. de C.V.
- STECS
- Coltman Precast Concrete Limited
- Rinker Materials
- SPANCRETE INDUSTRIES LTD.
- Elematic Oyj
- CRH
- Kiewit Corporation
- Balfour Beatty
- Gülermak A.Ş.
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Key questions answered in the Precast Construction Market are:
- What is Precast Construction?
- What is the CAGR of the Precast Construction Market?
- What was the Precast Construction Market size in 2022?
- What is the expected Precast Construction Market size by the end of the forecast period?
- What are the global trends in the Precast Construction Market?
- What are the major challenges that the Precast Construction Market could face in the future?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Precast Construction Market?
- How is the intervention from regulatory authority shaping the Precast Construction Market?
- What growth strategies are the players considering to increase their presence in Precast Construction?
- Who are the leading companies and what are their portfolios in the Precast Construction Market?
- Who held the largest market share in the Precast Construction Market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2023−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis by Type, Structural Component, Application and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
Maximize Market Research is leading Material & Chemical research firm, has also published the following reports:
Precast Concrete Market - The market size is expected to reach USD 148.62 billion by 2029 at a CAGR of 5.2 percent during the forecast period. The rapidly developing construction sector in the North American countries such as the United States, Mexico and Canada with the increasing demand for innovative building techniques is expected to drive market growth during the forecast period.
Concrete Formwork Market - The market size is expected to reach USD 11.5 Billion by 2029 at a CAGR of 2.3 percent during the forecast period. The market is expected to be driven by the growing population, urbanization and construction activities across the world.
Modular Construction Materials Market - The market size is expected to reach USD 157.56 billion by 2029 at a CAGR of 5.9 percent during the forecast period. The market is expected to be driven by the growing construction industry and growing population.
Off-site Construction Market - The market size is expected to reach USD 369.72 billion by 2029 at a CAGR of 5.8 percent during the forecast period. The market is expected to be driven by the consumer preference for new houses and government assistance for offsite development.
Electric Construction Equipment Market - The market size is expected to reach USD 241.20 billion by 2029 at a CAGR of 6.8 percent during the forecast period. The market is expected to be driven by the increasing need to reduce air pollutants from off-highway machinery and demand for acoustic construction equipment in residential areas.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
