The Global Precast Concrete Market is expected to grow at a CAGR of 6% between 2022-2028

By: RationalStat LLC
WILMINGTON, Del. - Jan. 25, 2023 - PRLog -- The report on industry trends and market size of the "Global Precast Concrete Market" examined by RationalStat assesses the global market on the basis of structures, product types, applications, end-user, and the region.

Analysis of the Market and its Dynamics

The precast concrete market is predicted to grow by around 6 percent over the period 2022-2028. The increasing popularity of green structures, coupled with the ever-growing urbanization rate and industrialization are the main reasons behind the rapid growth of the demand for precast concrete.
  • Moreover, the construction industry's shift toward incorporating sustainable, environment-friendly, cost-effective, and modern construction techniques is expected to spur market growth in the forthcoming years.
  • Furthermore, the rapid growth of the use of products in warehouse manufacturing and construction will propel the growth of this segment.The rapid adoption of new products has occurred in the field of infrastructure which has allowed firms to dramatically reduce project timelines while also saving both time and raw materials.

Segmental Analysis
  • Based on end-user, the Non-Residential/Commercial sector holds a dominant share of the market owing to the increasing urbanization and public infrastructure development.

Competition Analysis

Due to the presence of many well-established companies in the global precast concrete market, there is intense competition in the global precast concrete market. With the increasing number of on-site accidents caused by the use of low-cost raw materials, end users are expected to increase their use of natural raw materials.
  • In June 2021, Cemex announced to invest nearly US$ 925 Mn from 2021 to 2023 to expand its cement production capacity in the Americas, Europe, and the Philippines, strengthening its market positioning in high-growth metropolitan cities.

Some of the prominent players are Cemex S.A.B de C.V, LafargeHolcim Ltd., Boral Limited among others.

RationalStat has segmented the global precast concrete market on the basis of structure systems, product type, application, end-user, and region.
  • By Structure Systems
    • Transportation
    • Water & Waste Handling Products
    • Structural Building
  • By Product Type
    • Columns & Beams
    • Walls
    • Floors & Roofs
  • By Application
    • Modular
    • Relocatable Buildings
  • By End User
    • Residential
    • Non-residential/Commercial
  • By Region
    • North America
      • US
      • Canada
    • Latin America
      • Brazil
      • Mexico
      • Rest of Latin America
    • Western Europe
      • Germany
      • UK
      • France
    • Eastern Europe
      • Russia
      • Poland
      • Rest of Eastern Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • South Korea
    • Middle East & Africa
      • GCC
      • South Africa

For more information about this report:

Kimberly Shaw
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Tags:Precast Structures
Location:Wilmington - Delaware - United States
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