Precast Concrete Market with Future Growth Opportunity
The precast concrete market size is expected to reach USD 189.25 billion in 2028 and register a revenue CAGR of 5.7% over the forecast period, according to the latest report by Reports and Data. Rising investments in smart cities in emerging countries is driving precast concrete market revenue growth. In addition, rapid urbanization and industrialization will also boost demand for precast concrete worldwide. At present, the construction industry is booming and it is expected to remain so, owing to continuation of the development process, especially in developing countries.
Precast concrete is a highly efficient and practical method of concrete construction to build aesthetic buildings at lower costs. It also offers a suitable delivery model for construction projects, thereby allowing to proceed while the design is under development. This type of concrete can be manufactured in a wide variety of colors and finishes and can take nearly any shape or size. These products are delivered at ready-to-install stage, when needed and are manufactured off-site, under roof. Precast concrete is also considered environmentally friendly as it is entirely recyclable. It provides various benefits such as compression of project schedules and reduction of safety concerns, site disruption, and overall cost of projects, as it requires lesser trades for construction and fewer workers on sites.
However, increasing concerns regarding effects of cement on the environment is hampering market revenue growth. Cement production is a major contributor to global warming and various types of pollution. Cement industries release toxic gases such as sulfur dioxide, nitrogen oxide, and carbon monoxide. These gases can result in visual impairment, asthma, and cardiovascular diseases. Development of eco-friendly and sustainable construction methods will positively impact precast concrete market growth in the upcoming years.
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Report Overview:
As part of our quantitative analysis, we have provided regional market forecasts by type and application, market sales forecasts and estimates by type, application and region by 2028, and global sales and production forecasts and estimates for Precast Concrete by 2028. For the qualitative analysis, we focused on political and regulatory scenarios, component benchmarking, technology landscape, important market topics as well as industry landscape and trends.
We have also focused on technological lead, profitability, company size, company valuation in relation to the industry and analysis of products and applications in relation to market growth and market share.
Competitive Landscape:
The report also focuses on details of each market player including its global position, financial standing, revenue generation, company overview, product & service portfolio. The Precast Concrete market is extremely competitive and consists of several key players at regional and global level. Key players are focused on adopting various strategies such as new product launches, mergers and acquisitions, investments in R&D, partnerships, joint ventures and collaborations to strengthen their market position and enhance product portfolio.
Leading companies operating in the market are:
LafargeHolcim Ltd., Cemex S.A.B de C.V., Larsen & Toubro Construction, Balfour Beatty PLC, Oldcastle Infrastructure Inc., Forterra, Tindall Corporation, Laing O’Rourke, Atco Concrete Products N.V., and Balfour Beatty.
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The report also offers detailed insights about market segmentation based on type, application and regional bifurcation:
Precast Concrete Market Segmentation:
Product Type Outlook (Volume, Million Square Feet; Revenue, USD Billion; 2018–2028)
- Floors & Roofs
- Walls & Barriers
- Columns & Beams
- Pipes
- Paving Slabs
- Others
Construction Type Outlook (Volume, Million Square Feet; Revenue, USD Billion; 2018–2028)
- Elemental Construction
- Permanent Modular Buildings
- Re-locatable Buildings
Regional Outlook:
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- Italy
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- A.E.
- South Africa
- Rest of MEA
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