Precast Concrete Market

Precast Concrete Market registered a revenue of USD 125.4 billion in 2021 and is projected to reach USD 196.9 billion in 2029, growing at a CAGR 5.8% during the forecast period.

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Market Dynamic

Key Drivers and Emerging Trends

Growth in the global precast concrete market is driven by rapid urbanization and the increasing investment in infrastructural development projects. Also, the growing use of precast concrete components in the construction sectors owing to the huge demand for cheaper and low-maintenance building products will further fuel the market size. Other factors such as the drift towards modern construction methods among individuals, accelerating per capita income, and increasing industrialization will offer enormous opportunities to the market. With the growing environmental concerns, building contractors and customers have inclined towards using precast concretes in the production of bridges, dams, stadiums, and buildings. As per the Precast concrete market report, growing concern towards work-zone safety led by the rising accidents at construction sites has increased the demand for precast concrete. As precast components are composed in a controlled environment with natural raw materials like cement, sand, and gravel, thus can be reused, recycled, and minimize the risk of on-site accidents.

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End-Use – Segment Analysis

Non-residential segment is projected to witness a faster CAGR over the coming years, owing to the increasing use of precast concrete in the warehouse and factory construction. Also, the rising investment in the infrastructural sector by various public and private agencies across the Asia-Pacific, the Middle East, and South America regions will boost the segment’s growth.
On the other hand, the residential segment will hold a larger share over the forecast period due to the increasing government initiatives to provide affordable houses in emerging countries.

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Regional – Segment Analysis:

Asia-Pacific region is forecast to dominate the market during the forecast period, owing to the accelerating population. Other factors attributed to the regional dominance include the growing demand for residential and commercial sectors and increasing investment in the metro rail infrastructure. For example, in 2013, The Belt & Road initiative by China emphasized on the development and upgradation of the connectivity and infrastructure of its adjacent countries and trade partners, which is expected to augment expenditure on infrastructure across the region.

Top Market Players

Leading players operating in the market include Balfour Beatty, Holcim, Skanska, CRH plc, CEMEX S.A.B. de C.V., LAING O’ROURKE, and Julius Berger Nigeria Plc., Boral, Gulf Precast Concrete Company L.L.C, Olson Precast Company, among others.

Key Developments:

• • In 2021, Skanska launched an international project to examine different reusing parts of a condemned building in Tampere, Finland. The ReCreate project emphasizes on detecting new ways to remove concrete elements without damage for cost-effective reuse in new buildings.
  • In 2021, Holcim acquired Firestone Building Products from Bridgestone Americas for USD 3.4 billion.
  • In 2020, Holcim and its subsidiary Vetra Betonverbindteilwerke GmbH entered into an agreement with The Swiss CPC AG. This agreement intends to produce better performing thin concrete slabs with high-strength concrete for the Dutch, German, and Scandinavian markets on an enlarged scale in Vetra’s precast concrete plants from autumn 2021.

Segments covered in the Report:

The global Precast Concrete market has been segmented on the basis of Element, Construction Type, End-Use, and regions. Based on Element, the market is segmented into Columns & Beams, Floors & Roofs, Walls & Barriers, Girders, Pipes, Paving Slabs, Utility Vaults and Others. Based on Construction Type, the market is segmented into Elemental Construction, Permanent Modular Buildings and Relocatable Buildings. Based on End-Use, the market is segmented into Residential and Non-residential. 

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Key questions answered in this research report:

• • At what pace is global Precast Concrete market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Precast Concrete market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Precast Concrete market?
  • Which Element generated maximum revenues in 2021 and identify the most promising Element during the forecast period?
  • What are the various Construction Type areas of global Precast Concrete market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Precast Concrete Market by Element

• • Columns & Beams
  • Floors & Roofs
  • Walls & Barriers
  • Girders
  • Pipes
  • Paving Slabs
  • Utility Vaults
  • Others

Global Precast Concrete Market by Construction Type

• • Elemental Construction
  • Permanent Modular Buildings
  • Relocatable Buildings

Global Precast Concrete Market by End-Use

• • Residential
  • Non-residential

Global Precast Concrete Market by Region

• • North America Precast Concrete Market (Option 1: As a part of the free 25% customization)
    • By Element
    • By Construction Type
    • By End-Use
    • US Market All-Up
    • Canada Market All-Up
  • Europe Precast Concrete Market (Option 2: As a part of the free 25% customization)
    • By Element
    • By Construction Type
    • By End-Use
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Precast Concrete Market (Option 3: As a part of the free 25% customization)
    • By Element
    • By Construction Type
    • By End-Use
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Precast Concrete Market (Option 4: As a part of the free 25% customization)
    • By Element
    • By Construction Type
    • By End-Use
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Precast Concrete (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Holcim
  • Balfour Beatty
  • Skanska
  • CRH plc
  • CEMEX S.A.B. de C.V.
  • LAING O’ROURKE
  • Julius Berger Nigeria Plc.
  • Boral
  • Gulf Precast Concrete Company L.L.C
  • Olson Precast Company