Global Precast Concrete Market Is Projected To Expand At A CAGR Of 6.2% During Forecast Period

April 2021 | Report Format: Electronic (PDF)

Precast components used in the construction of bridges, buildings, and stadiums have boosted work-zone safety. For example, while building a bridge on-site, employees are exposed to extreme traffic for extended periods of time, as well as other on-site construction risks, which increases the potential of an accident. These dangers are reduced by precast concrete building technology. As precast components are often comprised of locally accessible natural materials such as gravel, cement, stones, and sand, they may be reused or recycled totally, regardless of how severely reinforced they are, as long as they are built in a controlled setting. When compared to other sources used in typical construction components, this helps to reduce the environmental effect of raw resources during their life cycle.

Government organizations in emerging markets are investing significantly and focusing on improving commercial and industrial infrastructures by adopting multiply programmed and assigning initiatives, hence accelerating the precast concrete market growth. Increasing remodeling and refurbishment activities in non-residential buildings are expected to drive precast concrete demand during the projected year. Hotel and restaurant renovations are also on the rise. Rising investments in industrial development from industry players are also predicted to drive precast concrete use and generate market possibilities.

In 2020, the Asia Pacific market was worth USD 46.43 billion. During the projected period, it is expected to be the fastest-growing area. Rising infrastructure expenditure by nations such as India, China, and Japan may drive up demand for the goods. Furthermore, the rising residential sector in these nations is anticipated increasing demand for precast concrete because of its low cost, providing further impetus to the industry.

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Precast Concrete Market Report Highlights

• After a successful debut in Mexico and Europe, CEMEX offer Virtua, it's brand of low emissions ready-mix concrete, in the United States in December 2020. Vertua Plus, Vertua Classic, and Vertua Ultra are the three models available. Furthermore, the firm sells Vertua Classic (which reduces CO2 emissions by 20%–30 percentage points in the Central Valley, Bay Area, Sacramento, Los Angeles, and San Diego, California). Vertua Plus and Vertua Ultra are anticipated to be released in 2021.
• Abumet Nigeria Limited, a part of Julius Berger Nigeria Plc, launched a cutting-edge IGU assembly line in Abuja, Nigeria, in March 2020. The firm's position in the Middle East and Africa has grown with the addition of this new location.

PRECAST CONCRETE MARKET SEGMENTATION

The research report published by Market Research Strategy contains industry segments, as below-

Precast Concrete Market Element Outlook (Revenue, USD Million, 2016 - 2027)

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

Precast Concrete Market Construction Type Outlook (Revenue, USD Million, 2016 - 2027)

• Relocatable Buildings
• Permanent Modular Buildings
• Elemental Construction

Precast Concrete Market End-Use Outlook (Revenue, USD Million, 2016 - 2027)

• Residential
• Non-residential 

Precast Concrete Market Regional Outlook (Revenue, USD Million, 2016 - 2027)

• North America (U.S., and Canada)
• Europe (Germany, U.K., France, Italy, Spain etc.)
• Asia-Pacific (China, India, Japan, Indonesia, Malaysia, Australia, South Korea, etc.)
• South America (Brazil, Mexico, Argentina etc.)
• Middle East & Africa (Saudi Arabia, Kuwait, UAE, South Africa etc.)

List of Key Players- Precast Concrete Market

• Balfour Beatty
• Boral
• Bouygues Construction
• CEMEX
• Consolis
• Elementbau Osthessen GmbH & Co.,
• Forterra
• Gulf Precast
• Julius Berger Nigeria Plc
• Katerra
• LafargeHolcim
• Laing O’Rourke
• Larsen & Toubro Limited
• Mackay Precast Products
• Oldcastle Infrastructure, Inc.
• Oldcastle Precast
• Olson Precast Company
• Preca Solutions India Private Limited
• Spancrete
• Tindall Corporation

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