The precast concrete market size reached USD 95.20 Billion in 2021 and is expected to register a revenue CAGR of 5.7% during the forecast period to the latest analysis by Emergen Research. Increasing investments in infrastructure is a key factor driving the revenue growth of the market. The two main reasons fostering market expansion are rapid urbanization and the exponential rise in population. The increased demand for non-residential buildings like airports, sports facilities, shopping centers, and office buildings will have a significant impact on the supply chain because of how quickly and cheaply they can be built. The demand for precast concrete will increase further as a result of the rising need for residential space brought on by the expanding population and the government’s attempts to provide homes for the Economically Weaker Section (EWS). Its use in offices and other commercial areas has also increased due to increased urbanization activities brought on by people looking for better employment prospects, which drives the market revenue growth.
However, an essential component of concrete is cement. One of the main causes of global warming and other forms of pollution is cement manufacture. Significant amounts of hazardous gases like nitrogen oxide, sulfur dioxide, and carbon monoxide are produced at cement-producing facilities. Asthma, vision impairment, and cardiovascular disorders are just a few of the health problems that these gases are linked to. In addition, the effects of these gases on the ecosystem include acid rain, decreased water quality, and global warming.
The report covers the precast concrete Market segmentation along with a detailed outline of the precast concrete market size with regards to volume and valuation. The report provides comprehensive coverage of the precast concrete market scenario for the current period and forecast timeline of 2022-2030. The precast concrete market report contains an in-depth analysis of the historical, current, and projected revenues for every industry vertical, segment, end-use industries, applications, and regions.
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The report further sheds light on the emerging growth opportunities, challenges, market threats, limitations, and factors likely to restrict the growth of the precast concrete market. The report further discusses in detail the market in international waters and the emerging trends in those regions. It also offers insights into the competitive landscape, market drivers, industrial scenario, and the latest product and technological developments to offer a comprehensive overview of the precast concrete market landscape.
Some Key Highlights from the Report:
- The structural building components segment is expected to register the highest revenue share in 2021. The increase in hotels, malls, and hospitals, as well as the process of global industrialization, are expected to drive the segment’s revenue growth. The increasing usage of structural construction materials in low-cost housing is anticipated to have a substantial impact on this market sector.
- The infrastructure segment is expected to register substantial growth over the forecast period. Precast concrete is especially well suited for applications in which the building components must withstand severe weights. Tensile forces are absorbed by the steel reinforcement, whereas pressure forces are absorbed by the concrete. Because they are far more robust than sleepers made of other materials, reinforced precast concrete sections are suitable for the construction of sleepers that must withstand enormous weights.
- Market in the Asia Pacific is expected to register considerable growth rate during the forecast period. The region’s market is expanding quickly because of the strength of its industrial base, which is largely fueled by well-known businesses. Due to the increased emphasis on sustainable and modular building as well as significant investment in rehabilitation projects across countries like China, Japan, Indonesia, and India, the rise of the precast concrete market in the Asia Pacific region offers profitable potential.
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The key companies studied in the report are:
Larsen & Toubro, Tindall Corporation, Olson Precast Company, STECS, LafargeHolcim, Gulf Precast Concrete Co. LLC, Forterra Pipes & Precast LLC, Spancrete, Boral Ltd. And LAING O’Rourke.
On the basis of regional analysis, the market is segmented into the following regions: North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The market is expected to be dominated by North American nations closely followed by European countries. Asia Pacific is expected to show a significant growth owing to recent advancements and rising investments in the R&D sector.
Emergen Research has segmented the precast concrete market on the basis of product, application:
- Product (Revenue, USD Billion; 2019–2030)
- Structural Building Components
- Architectural Building Components
- Waste & Water Handling Products
- Others
- Application Outlook (Revenue, USD Billion; 2019–2030)
- Infrastructure
- Commercial
- Residential
- Industrial
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The precast concrete research report also includes an insightful study of the prominent players of the industry along with their business overview, strategic planning, and business expansion plans adopted by them. This assists the readers and business owners in formulating strategic expansion and investment plans. The report focuses on mergers and acquisitions, joint ventures, collaborations, partnerships, corporate and government deals, and others. The report also talks about the expansions these prominent players are vying for in the key regions of the market. The report focuses on the detailed analysis of the technological and product developments undertaken by these companies.
The report addresses the following key points:
- The report estimates the expected market size from 2022-2030
- The report provides a forecast of market drivers, restraints, and future opportunities for the precast concrete market
- The report further analyses the changing market dynamics
- Regional analysis and segmentation of the market with analysis of the regions and segments expected to dominate the market growth
- Extensive competitive landscape mapping with profiles of the key competitors
- In-depth analysis of business strategies and collaborations such as mergers and acquisitions adopted by the key companies
- Revenue forecast, country scope, application insights, and product insights
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