Latest News: Precast Concrete Market to Hit $159.85 Bn by 2030

The global precast concrete market covered major segments by Product Type (Building Components, Transportation, Water & Waste Handling, and Others), By End-Use (Residential, and Non- Residential) and Regional Forecast Report.

Pune, India, May 18, 2023 (GLOBE NEWSWIRE) -- The global precast concrete market size is expected to showcase significant growth by reaching USD 159.85 billion by 2028.  Fortune Business Insights™, in its report titled Precast Concrete Market, 2021-2028.”, mentions that the market stood at USD 114.78 billion in 2020 and is likely to exhibit a CAGR of 4.4% between 2021 and 2028. The rapid-fire-paced urbanization, coupled with the rising population rate, is anticipated to favor the relinquishment of the product encyclopedically.

According to the National Bureau of Statistics(NBS), around 901.99 million people live in the landmass areas in China, which accounts for over 63.89 of the total population in the country. Precast concrete refers to a construction product that is made by casting concrete in a reusable mold or form at a different location, typically a factory or precast plant, rather than being poured and cured on-site. The precast concrete elements are then transported to the construction site and assembled or installed as part of a larger structure.

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List of Key Players Profiled in the Precast Concrete Market Report:

  • Boral (Australia)
  • LafargeHolcim (Switzerland)
  • Gulf Precast (UAE)
  • Olson Precast Company (U.S.)
  • Larsen & Toubro Limited (India)
  • CEMEX (Mexico)
  • Forterra (U.S.)
  • Tindall Corporation (U.S.)
  • Spancrete (U.S.)
  • Elementbau Osthessen GmbH & Co., ELO KG (Germany)
  • Bouygues Construction(France)
  • Balfour Beatty(U.K.)
  • Oldcastle Precast (U.S.)
  • Other Key Players

Report Scope & Segmentation:

Report AttributesDetails
Forecast Period2021-2028
Forecast CAGR4.4%
2028 Value ProjectionUSD 159.85 billion
Market Size in 2020USD 114.78 billion
Historical Data2019-2021
No. of Pages200
Report CoverageRevenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends
Segments Covered
  • By Thickness
  • By Type
  • By Application
Regions Covered
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
Precast Concrete Market Growth DriversRapid-Paced Urbanization to Aid Growth

Browse Detailed Summary of Research Report with TOC:

Market Segmentation

Based on the product type, the precast concrete market is divided into building components, transportation, water & waste handling, and others. On the basis of end-use, the market is bifurcated into residential and non-residential.

  • Based on end-use, the residential segment held a global precast concrete market share of about 37.7% in 2020. The segment is expected to experience exponential growth backed by the increasing investment in the development of real estate that is likely to propel the demand for the product worldwide.

Finally, on the basis of region, the precast concrete market is segregated into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.


Rapid-Paced Urbanization to Aid Growth

The evolving standard of living encyclopedically has led to the growing demand for quality- acquainted and people- centered installations. The rapid-fire- paced urbanization has led to significant development of both domestic and non-residential establishments. either, a large number of millions are migrating from pastoral areas to civic places for better job openings. The fast- paced growth of smart metropolises equipped with state- of- the- art architectures similar as airfields, promenades, sports complexes, and marketable spaces is anticipated to boost the demand for the product. either, the rising population rate across the globe is anticipated to contribute to the global precast concrete request growth during the cast period.

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Asia-Pacific – The region stood at USD 46.43 billion in 2020. The market is anticipated to experience profound growth due to a large population in countries such as India and China. This is further leading to the massive development of residential sectors that is propelling the adoption of advanced precast concrete products in the region.

Europe – The precast concrete market in the region is anticipated to showcase considerable growth during the foreseeable future. This is ascribable to factors such as the high demand for innovative precast concrete products for infrastructural and non-residential sector development activities between 2021 and 2028.


Partnerships between Key Players to Intensify Industry Competition

The global precast concrete assiduity is consolidated by the presence of major companies that are seeking to maintain their position and gain a competitive edge over their rivals. They're doing so by fastening on partnering with other companies to expand their product portfolio. also, other crucial players are espousing organic and inorganic strategies to consolidate request competition and maintain fortresses during the cast period.

The market report includes:

  • All-encompassing report of the precast concrete industry
  • Critical insights into the market
  • Dominant regions in the world
  • Market drivers and restraints
  • Competitive landscape
  • COVID-19 impact

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Detailed Table of Content:

  • Introduction
    • Research Scope
    • Market Segmentation
    • Research Methodology
    • Definitions and Assumptions
  • Executive Summary
  • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
    • Emerging Trends
  • Key Insights
    • Key Market Trends in the Global Market
    • Key Developments: Mergers, Acquisition, Partnership, etc.
    • Latest Technological Advancement
    • Insights on Regulatory Scenario
    • Porters Five Forces Analysis
  • Qualitative Insights Impact of COVID 19 on Global Precast Concrete Market
    • Supply Chain Analysis & Challenges
    • Steps taken by Government/Companies to overcome this impact
    • Potential opportunities due to COVID-19 outbreak
  • Global Precast Concrete Market Analysis, Insights and Forecast, 2017-2028
    • Key Findings / Summary
    • Market Size Estimates and Forecast 
      • By Product Type
        • Building Components
        • Transportation
        • Water & Waste Handling
        • Others
      • By End-Use
        • Residential
        • Non-Residential
      • By Region
        • North America
        • Europe
        • Asia Pacific
        • Latin America
        • Middle East & Africa

TOC Continued...!

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