The global Precast Concrete market size is expected to be worth around US$ 139.40 billion by 2030, according to a new report by Vision Research Reports.
The global Precast Concrete market size was valued at US$ 92.14 billion in 2020 and is anticipated to grow at a CAGR of 5.5% during forecast period 2021 to 2030.
Growing product utilization in the residential construction industry to reduce the overall cost of construction is expected to drive the market growth over the forecast period. China, India, Indonesia, and Vietnam are some of the major Asian economies that are witnessing an infrastructure boom. Thus, growing investments in the construction of underground and over the ground metro rail projects, bridges, tunnels, subways, and high-speed rail networks are anticipated to provide a major boost to the global market.
The product use helps the construction companies to achieve economies of scale, reduce overall labor requirements, and ensure the quality of the finished concrete modules. In addition, it also helps in speeding up the overall process and helps achieve significant savings, in terms of the overall time and cost required to complete the project.
The structural building components segment led the market and accounted for over 36% of the total revenue in 2020 and will expand at the fastest CAGR from 2021 to 2028. Growing emphasis on reducing the overall construction time and costs are turning out to be the primary factor driving the adoption of structural building components, such as beams, piles, and foundation pillars, in the residential & non-residential construction sector.
Affordable housing structures and social infrastructure projects, such as hospitals, educational facilities, and community centers, are expected to be the major beneficiary of precast concrete. These projects often get delayed due to the lack of funds and paucity of labor. However, the use of precast helps reduce the construction costs and significantly reduces the need for labor.
The transportation products segment is projected to register a significant CAGR over the forecast period. High investments in the development, renovation, and up-gradation of transportation infrastructures, such as roads, bridges, flyovers, tunnels, metro rails, and high-speed rail networks, are expected to be the primary factors driving the segment growth.
The water & wastewater handling product segment is expected to garner a significant market share over the forecast period. Globally, there has been a growing focus on maximizing the recycling of municipal and industrial wastewater discharge. Growing restrictions on the discharge of untreated wastewater are expected to have a positive impact on the market growth.
The residential end-use segment led the market and accounted for a share of 36.0% in 2020. The residential end-use segment includes single-family houses and multi-story residential buildings. The product is witnessing growing adoption in residential applications owing to its ability to significantly reduce the construction cost and time. In countries, such as Norway, Finland, Canada, and Sweden, extremely cold weather and shorter daytime bring the traditional construction activities to a halt. As a result, precast concrete has emerged as a logical alternative to conventional methods to ensure the continuation of the construction activities.
The non-residential end-use segment is anticipated to grow at a CAGR of 5.5% from 2021 to 2028. High product adoption in the construction of warehouses and factory spaces is expected to drive the segment growth over the forecast period. The use of offsite construction helps in the early commissioning of the production facility. Tesla Inc., one of the leading Electric Vehicle (EV) manufacturers in the world, has been one of the early adopters of precast concrete products while constructing its ‘Giga Berlin’ factory. The use of precast technology has helped the company to adhere to its plant completion and commissioning timelines and start the production of EVs in the Europe market.
Asia Pacific dominated the global precast concrete market and accounted for a revenue share of 38.5% in 2020 and will register the fastest CAGR from 2021 to 2028. The rapid growth of the infrastructure development industry coupled with wide-ranging demand for commercial and residential structures is the primary factor driving product adoption in the regional market.
The Belt & Road initiative undertaken by China, to develop and improve the connectivity and infrastructure of its key neighboring countries and trade partners, is expected to provide a major boost to the infrastructure spending in the Asia Pacific region. Furthermore, mass investments in the development of metro rail infrastructure in India are expected to drive the market growth.
North America is expected to grow at a CAGR of 5.3% over the forecast period. Growing expenditures on the redevelopment of old housing structures and aging infrastructures, such as bridges, underpasses, and subways, are expected to drive product adoption in the regional market.
Gulf Precast Concrete Co. LLC
Olson Precast Company
CEMEX S.A.B. de C.V.
Structural Building Components
Architectural Building Components
Water & Waste Handling Products
Central & South America
Middle East & Africa
The Precast Concrete market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Precast Concrete market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Precast Concrete market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Precast Concrete market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Precast Concrete market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Precast Concrete capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Precast Concrete by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Precast Concrete market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Precast Concrete market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Precast Concrete market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Precast Concrete industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Precast Concrete market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Precast Concrete market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Precast Concrete market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Precast Concrete market. These factors have benefited the growth of the global market for Precast Concrete. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Precast Concrete. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Precast Concrete are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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