Dublin, Feb. 23, 2023 (GLOBE NEWSWIRE) -- The "Europe Precast Concrete Market Forecast to 2028 - COVID-19 Impact and Regional Analysis" report has been added to ResearchAndMarkets.com's offering.
The Europe precast concrete market is expected to grow from US$ 29,798.97 million in 2022 to US$ 44,978.37 million by 2028. It is estimated to grow at a CAGR of 7.1% from 2022 to 2028.
Need for Cost-Effective, Safe, and Eco-Friendly Products is driving the growth of Europe Precast Concrete Market
Precast technology is often correlated with performance, protection, and durability, all of which are good advantages over traditional building methods. However, one of the essential advantages of precast is its potential to reduce construction costs and provide substantial savings before, during, and after the project. Moreover, unlike other materials used in conventional building components, precast components are usually made of locally available natural raw materials such as cement, stones, sand, and gravel, and they can be reused or recycled completely, which helps to reduce the environmental impact of raw materials over their life cycle. In addition to this, focus have been made to promote safe and digitized construction which could lessen the number of fatalities at the site. For instance, several reported incidents suggest the fatalities caused while lifting hollow-core slabs with clamps. Hence, the use of precast components in the construction work can has ensure the safety and protection at construction sites.
Precast concrete is also a popular building material for office buildings. The building's walls can be fabricated while the on-site foundations are being built, thereby saving time, and ensuring early occupancy. Due to the speed and ease with which precast structures can be constructed, precast has become a popular building material for parking structures. Precast concrete allows for safe, cost-effective construction in all weather conditions.
It also provides long clear spans and open spaces needed in parking structures. In addition, precast concrete saves time and money, and it has greater quality control than on-site concrete construction. Precast concrete construction has many benefits such as ecofriendly, earthquake resistance, energy- efficient, and others than cast-in-situ concrete structures, as well as steel, timber, and masonry structures. It allows for a faster and more reliable construction process. The rising focus toward cost-effective, safe, and environment-friendly products is expected to stimulate the growth of the Europe precast concrete market .
Europe Precast Concrete Market Overview
The Europe precast concrete market region includes Germany, France, Italy, the UK, Russia, and the Rest of Europe. The automotive industry contributes 6.8% to the GDP of the region. The automotive sector supports the growth of the economy by assisting the supply chain that results in the creation of a diversified array of business opportunities and services. The automotive sector of the EU is a crucial industry as it significantly contributes to the country's GDP as well as employs Mns of people in the region. High production of the automobile in Europe region depicts more demand for precast concrete processes and products. Precast concrete is primarily used in construction of multi-storey car parks. The constructions include putting together precast parking parts such as multi-story structural wall panels, interior and exterior columns, structural floors, girders, wall panels, stairs, and slabs. These parts can need to be lifted into place with the help of precast concrete lifting anchor systems.
Market Dynamics
Market Drivers
- Need for Cost-Effective, Safe, and Eco-Friendly Products
- Rise in Renovation and Remodeling Activities Across the Region
Market Restraints
- Volatility in Raw Material Prices
Market Opportunities
- Supportive Government Initiatives
Future Trends
- Significant Investment in Innovation and Product Development
Europe Precast Concrete Market Segmentation
The Europe precast concrete market is segmented into structure system, end use, and country. Based on structure system, the Europe precast concrete market is segmented into beam and column system, floor and roof system, bearing wall system, facade system, and others segment. The beam and column system segment registered the largest market share in 2022.
- Based on end use, the Europe precast concrete market is segmented into residential, commercial, and others. The commercial segment registered the largest market share in 2022.
- Based on country, the Europe precast concrete market is segmented into Germany, France, Italy, the UK, Spain, Poland, Netherlands, and the Rest of Europe. The Rest of Europe dominated the market share in 2022.
| Report Attribute | Details |
| No. of Pages | 98 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $29798.97 Million |
| Forecasted Market Value (USD) by 2028 | $44978.37 Million |
| Compound Annual Growth Rate | 7.1% |
| Regions Covered | Europe |
A selection of companies mentioned in this report includes
- Betongindustri AB
- Boral
- CEMEX S.A.B. de C.V.
- Centrum Pile Ltd.
- Consolis
- Elementbau Osthessen GmbH & Co., ELO KG
- Forterra
- LafargeHolcim
For more information about this report visit https://www.researchandmarkets.com/r/ivf6sr-precast?w=12
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