Blog Information
- Posted By : Marcel Mikaelson
- Posted On : Jun 13, 2023
- Views : 73
- Category : General
- Description : The global precast concrete market size reached US$ 122.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 166.3 Billion by 2028, exhibiting a growth rate (CAGR) of 5.2% during 2023-2028.
- Location : United States
Overview
IMARC Group, a leading market research company, has recently releases report titled, “Precast Concrete Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The study provides a detailed analysis of the industry, including the global precast concrete market share, size, trends and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How big is the precast concrete market?
Report Attributes Details Market Size in 2022 US$ 122.0 Billion Market Forecast in 2028 US$ 166.3 Billion Growth rate (2023 to 2028) CAGR of 5.2% Base Year of the Analysis 2022 Forecast Period 2023-2028 What is precast concrete?
Precast concrete is a construction material produced by casting a mixture of water, cement, and aggregates into a mold and allowing it to cure before being transported to the construction site. It offers consistent quality, improved durability, reduced waste, and enhanced safety. With the flexibility to customize designs for various project requirements, precast concrete can be used for decorative elements as well as structural components like beams, columns, walls, and slabs. Its ready-to-install nature significantly reduces construction time and labor costs, making it a cost-effective choice for projects prioritizing efficiency. Additionally, precast concrete contributes to sustainability efforts by minimizing waste and maximizing resource utilization. Overall, precast concrete is a versatile and practical solution that delivers speed, durability, and customization options in construction projects.
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What are the growth prospects and trends in the precast concrete industry?
The global market for precast concrete is experiencing positive growth driven by factors such as increasing disposable incomes, rapid urbanization, and a significant surge in construction and renovation activities. There is a growing demand for construction practices that are eco-friendly and sustainable, leading to a higher adoption of precast concrete, which is known for its durability, energy efficiency, and ability to incorporate recycled materials. Furthermore, the industry is witnessing the integration of advanced technologies like 3D printing and artificial intelligence (AI), which enhance the efficiency, quality, and versatility of precast concrete, allowing for the creation of complex designs and structures. These factors collectively contribute to the expansion of the precast concrete market.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Type:
- Floors and Roofs
- Columns and Beams
- Stairs and Landing
- Walls
Breakup by Product:
- Structural Building Components
- Architectural Building Components
- Transportation Products
- Water and Waste Handling Products
- Others
Breakup by End Use:
- Residential
- Non-Residential
Breakup by Region:
- North America
- Asia-Pacific
- Europe
- Latin America
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Balfour Beatty plc
- Boral Limited
- CEMEX S.A.B. de C.V.
- Elementbau Osthessen GmbH & Co. ELO KG
- Forterra Inc.
- Gulf Precast Concrete Co LLC
- Holcim Group, Laing O’Rourke
- Olson Precast Company
- Spancrete Inc. (Wells Concrete)
- Tindall Corporation.
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If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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