Global Precast Concrete Market Research Report: Forecast (2023-2028)
By Product Type (Columns & Beans, Floors & Roofs, Staircases, Girders, Paving Slabs, Others), By Construction Type (Elemental Constructions, Permanent Modular Buildings, Relocatabl...e Buildings), By Application (Structural Building Components, Architectural Building Components, Transportation Products, Waste & Waste Handling Products, Others), By End User (Residential, Non-Residential, (Tunnel, Bridges, Wind Towers, Others)), By Region (North America, South America, Europe, The Middle East & Africa, Asia-Pacific), By Company (LafargeHolcim, Olson Precast Company, Forterra Pipe and Precast LLC, Boral Limited, Gulf Precast Concrete Co. LLC, Tindall Corporation, Spancrete, ELO Beton, Devinci Precast, Beaver Gulf Precast Concrete, CEMEX S.A.B. de.C.V.\, Larsen & Toubro Limited, Elementbau-Osthessen GmbH & Co., ELO KG, STECS, ACS Group) Read more
- Buildings, Construction, Metals & Mining
- Jan 2023
- 192
- PDF, Excel, PPT
Market Definition
Precast concrete is made by casting concrete using a reusable mold, i.e., cured off-site in a controlled environment to allow the concrete to be cured adequately & monitored closely. These molds are utilized multiple times before they get replaced, which basically makes the process much more efficient than on-site casting and offers various benefits like enhanced control over the material quality, better workmanship, & optimum safety.
Market Insights & Analysis: Global Precast Concrete Market (2023-28)
The Global Precast Concrete Market is expected to grow at a CAGR of around 5.6% during the forecast period, i.e., 2023-28. Most of the market expansion would be propelled by the flourishing building & construction industry, massive investments in infrastructure development projects across various developing countries, various government initiatives for developing their respective economies by enhancing the construction sector, and improving disposable income in developing regions.
Report Coverage | Details |
---|---|
Study Period | Historical Data: 2018-21 |
Base Year: 2022 | |
Forecast Period: 2023-28 | |
CAGR (2023-2028) | 5.6% |
Regions Covered | North America: US, Canada, Mexico |
Europe: Germany, The UK, France, Spain, Italy, Rest of Europe | |
Asia-Pacific: China, India, Japan, South Korea, Rest of Asia-Pacific | |
South America: Brazil, Argentina, Rest of South America | |
Middle East & Africa: UAE, Saudi Arabia, South Africa, Rest of MEA | |
Key Companies Profiled | LafargeHolcim, Olson Precast Company, Forterra Pipe and Precast LLC, Boral Limited, Gulf Precast Concrete Co. LLC, Tindall Corporation, Spancrete, ELO Beton, Devinci Precast, Beaver Gulf Precast Concrete, CEMEX S.A.B. de.C.V.\, Larsen & Toubro Limited, Elementbau-Osthessen GmbH & Co., ELO KG, STECS, ACS Group |
Unit Denominations | USD Million/Billion |
Besides, rapid industrialization & urbanization in emerging countries, which are increasingly focusing on high-quality infrastructure development & green building projects, coupled with the ever-increasing number of commercial & residential spaces worldwide, are other prominent aspects projected to drive the market in the forecast period. Additionally, ongoing advancements in material science & reusability of molds and growing concerns over the work-zone safety for building bridges, buildings, & other construction projects shall also bode well for the market expansion in the future.
As precast concrete is more durable & stronger, has a significantly high span-to-depth ratio, and can be constructed easily in lesser time than its alternatives, it finds various applications in the production of numerous building components like wall panels, sound walls, manholes, highway barriers, & building foundations. Its extensive utilization worldwide in large-scale projects like concert halls & arenas is a crucial factor likely to contribute significantly to the overall market growth in the coming years.
Furthermore, favorable policies regarding the use of eco-friendly & advanced building materials in construction activities, coupled with the increasing number of remodeling & renovation projects, especially in India & China, and the active focus of governments of various emerging countries on building modern infrastructure also project remunerative prospects for the market through 2028.
Global Precast Concrete Industry Recent Developments
- On 1 May 2022, Boral Limited, in collaboration with Calix Limited, announced exploring the feasibility of developing a carbon capture plant in the Southern Highlands using Calix's innovative carbon technology. For this, Boral has been awarded a $30m Commonwealth Grant, which will support both leaders in assessing the viability of a commercial-scale plant that captures & compresses up to 100ktpa of unavoidable CO2 emissions that arise from the limestone decomposition in cement manufacturing.
- On 1 July 2021, Forterra completed the acquisition of Barbour Concrete Company & Barbour Building Systems, a manufacturer of precast concrete products used in drainage, stormwater, utility, and other infrastructure applications.
- The same year on 7 January, LafargeHolcim announced acquiring Firestone Building Products (FSBP), a leader in commercial roofing & building envelope solutions based in the US, for US$ 3.4 billion, i.e., in line with its plans to become the global leader in innovative & sustainable building solutions.
Global Precast Concrete Market (2023-28): Segmentation Analysis
The Global Precast Concrete Market study of MarkNtel Advisors evaluates & highlights the major trends & influencing factors in each segment & includes predictions for the period 2023–2028 at the global, regional, and national levels. Based on the Application, and End-User the market has been further classified as:
Based on Application:
- Structural Building Components
- Architectural Building Components
- Transportation Products
- Waste & Waste Handling Products
Here, Structural Building Components are anticipated to demonstrate the fastest market growth during the forecast period. This growth attributes to the swift expansion of the construction sector, showcasing a high demand for this concrete for the application of structural buildings. In addition, the acceleration of the construction of hotels, malls, and hospitals is playing a significant role in propelling the demand for precast concrete for Structural Building Components throughout the world. Moreover, since structural building components are affordable, it is likely to showcase a peaking demand, driving the overall market growth through 2028.
On the other hand, Architectural Building Components shall also make significant contributions to the overall market expansion in the coming years. Backed by the swift improvement in the economic conditions of people and their inclination toward home renovations and designing, the demand for precast concrete for architectural buildings is escalating rapidly. Besides, because these concrete offer perks like design flexibility & improved profitability, it shall further augment the demand for these materials throughout the world during the forecast period. Its peaking demand is particularly seen across office buildings, hospitals, schools, shopping centers, apartments, and parking garages, among others.
Nonetheless, Transportation Products shall also witness a high demand for precast concrete in the coming years and boost the overall market growth. This expansion is set to be influenced by the growing awareness among contractors about the perks of this concrete like high durability, low maintenance cost, and improved track elasticity. Furthermore, other advantages like improved ride quality, minimum lifecycle cost, enhanced geometric retention of rail track, and greater weight capacity for heavy freight lines & speed, are also stimulating demand and driving the market.
Based on End-User:
- Residential
- Non-Residential
Here, the non-residential sector holds the largest market share, and the same trend is likely in the coming years. It owes to the increasing number of retail stores, the rapidly expanding industrial sector, substantial investments in the development of flyovers, roads, educational institutes, hotels, malls, corporate spaces, & hospitals, among others, and the growing demand for sports complexes, stadiums, & airports.
The quick & easy precast concrete is well-suited, particularly for applications where the construction materials are subjected to heavy loads. It absorbs pressure forces and, for instance, protects highways against vehicle penetration. Moreover, it is also being utilized increasingly wherever high-quality & environmentally friendly solutions are needed. It owes to its easy production and significantly higher quality & durability than traditional concrete, which, in turn, provides increased cost savings. Hence, these aspects indicate a swiftly surging demand for precast concrete across the residential sector, i.e., boding well for the overall market growth.
Global Precast Concrete Market Regional Projection
Geographically, the Global Precast Concrete Market expands across:
- North America
- South America
- Asia-Pacific
- Europe
- Middle East & Africa
Of all countries globally, Asia-Pacific is anticipated to demonstrate the fastest growth of the market during 2023-28. It attributes to the active participation of governments of different regional countries in promoting various construction activities for infrastructural developments. It, in turn, is boosting the demand for products like precast concrete in diverse applications owing to its cost-efficiency and, consequently, instigating the leading players in the regional market to expand their production & distribution capacities in order to cater to the burgeoning end-user requirements.
Moreover, favorable government initiatives undertaken by different countries, especially India, toward smart city development projects, alongside massive investments by other countries like Spain, Sweden, & Italy in such projects, are also amplifying the demand for precast concretes across the region. Besides, the excellent progress in the economic face of countries in recent years, coupled with the rapidly expanding residential sector, are also playing a significant role in nurturing the Asia-Pacific Precast Concrete Market growth.
Gain a Competitive Edge with Our Global Precast Concrete Market Report
- Global Precast Concrete Market report provides a detailed and thorough analysis of market size, growth rate, competitive landscape, and key players. This comprehensive analysis helps businesses gain a holistic understanding of the market dynamics and make informed decisions.
- This report also highlights current market trends and future projections, allowing businesses to identify emerging opportunities and potential challenges. By understanding market forecasts, companies can align their strategies and stay ahead of the competition.
- Global Precast Concrete Market report aids in assessing and mitigating risks associated with entering or operating in the market.
- The report would help in understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategies to minimize risks and optimize their operations.
Frequently Asked Questions
Global Precast Concrete Market Research Report (2023-2028) - Table of Contents
- Market Segmentation
- Introduction
- Product Definition
- Research Process
- Assumptions
- Executive Summary
- Global Precast Concrete Market Trends & Insights
- Global Precast Concrete Market Dynamics
- Growth Drivers
- Challenges
- Global Precast Concrete Market Hotspot & Opportunities
- Global Precast Concrete Market Policies & Regulations
- Global Precast Concrete Market Supply Chain Analysis
- Global Precast Concrete Market Outlook, 2018-2028F
- Market Size & Analysis
- Market Revenues (USD Million)
- Market Share & Analysis
- By Product Type
- Columns & Beans
- Floors & Roofs
- Staircases
- Girders
- Paving Slabs
- Others
- By Construction Type
- Elemental Constructions
- Permanent Modular Buildings
- Relocatable Buildings
- By Application
- Structural Building Components
- Architectural Building Components
- Transportation Products
- Waste & Waste Handling Products
- Others
- By End User
- Residential
- Non-Residential
- Tunnel
- Bridges
- Wind Towers
- Others
- By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
- By Competitors
- Competition Characteristics
- Market Share & Analysis
- By Product Type
- Market Size & Analysis
- North America Precast Concrete Market Outlook, 2018-2028F
- Market Size & Analysis
- Market Revenues (USD Million)
- Market Share & Analysis
- By Product Type
- By Construction Type
- By Country
- The US
- Canada
- Mexico
- The US Precast Concrete Market Outlook, 2018-2028F
- Market Size & Analysis
- Market Revenues (USD Million)
- Market Share & Analysis
- By Product Type
- By Construction Type
- Market Size & Analysis
- Canada Precast Concrete Market Outlook, 2018-2028F
- Market Size & Analysis
- Market Revenues (USD Million)
- Market Share & Analysis
- By Product Type
- By Construction Type
- Market Size & Analysis
- Mexico Precast Concrete Market Outlook, 2018-2028F
- Market Size & Analysis
- Market Revenues (USD Million)
- Market Share & Analysis
- By Product Type
- By Construction Type
- Market Size & Analysis
- Market Size & Analysis
- South America Precast Concrete Market Outlook, 2018-2028F
- Market Size & Analysis
- Market Revenues (USD Million)
- Market Share & Analysis
- By Product Type
- By Construction Type
- By Country
- Brazil
- Argentina
- Rest of South America
- Brazil Precast Concrete Market Outlook, 2018-2028F
- Market Size & Analysis
- Market Revenues (USD Million)
- Market Share & Analysis
- By Product Type
- By Construction Type
- Market Size & Analysis
- Argentina Precast Concrete Market Outlook, 2018-2028F
- Market Size & Analysis
- Market Revenues (USD Million)
- Market Share & Analysis
- By Product Type
- By Construction Type
- Market Share & Analysis
- By Product Type
- By Construction Type
- Market Size & Analysis
- Market Size & Analysis
- Europe Precast Concrete Market Outlook, 2018-2028F
- Market Size & Analysis
- Market Revenues (USD Million)
- Market Share & Analysis
- By Product Type
- By Construction Type
- By Country
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- The UK Precast Concrete Market Outlook, 2018-2028F
- Market Size & Analysis
- Market Revenues (USD Million)
- Market Share & Analysis
- By Product Type
- By Construction Type
- Market Size & Analysis
- Germany Precast Concrete Market Outlook, 2018-2028F
- Market Size & Analysis
- Market Revenues (USD Million)
- Market Share & Analysis
- By Product Type
- By Construction Type
- Market Size & Analysis
- France Precast Concrete Market Outlook, 2018-2028F
- Market Size & Analysis
- Market Revenues (USD Million)
- Market Share & Analysis
- By Product Type
- By Construction Type
- Market Size & Analysis
- Italy Precast Concrete Market Outlook, 2018-2028F
- Market Size & Analysis
- Market Revenues (USD Million)
- Market Share & Analysis
- By Product Type
- By Construction Type
- Market Size & Analysis
- Spain Precast Concrete Market Outlook, 2018-2028F
- Market Size & Analysis
- Market Revenues (USD Million)
- Market Share & Analysis
- By Product Type
- By Construction Type
- Market Size & Analysis
- Market Size & Analysis
- The Middle East & Africa Precast Concrete Market Outlook, 2018-2028F
- Market Size & Analysis
- Market Revenues (USD Million)
- Market Share & Analysis
- By Product Type
- By Construction Type
- By Country
- The UAE
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- The UAE Precast Concrete Market Outlook, 2018-2028F
- Market Size & Analysis
- Market Revenues (USD Million)
- Market Share & Analysis
- By Product Type
- By Construction Type
- Market Size & Analysis
- Saudi Arabia Precast Concrete Market Outlook, 2018-2028F
- Market Size & Analysis
- Market Revenues (USD Million)
- Market Share & Analysis
- By Product Type
- By Construction Type
- Market Size & Analysis
- South Africa Precast Concrete Market Outlook, 2018-2028F
- Market Size & Analysis
- Market Revenues (USD Million)
- Market Share & Analysis
- By Product Type
- By Construction Type
- Market Size & Analysis
- Market Size & Analysis
- Asia-Pacific Precast Concrete Market Outlook, 2018-2028F
- Market Size & Analysis
- Market Revenues (USD Million)
- Market Share & Analysis
- By Product Type
- By Construction Type
- By Country
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- China Precast Concrete Market Outlook, 2018-2028F
- Market Size & Analysis
- Market Revenues (USD Million)
- Market Share & Analysis
- By Product Type
- By Construction Type
- Market Size & Analysis
- India Precast Concrete Market Outlook, 2018-2028F
- Market Size & Analysis
- Market Revenues (USD Million)
- Market Share & Analysis
- By Product Type
- By Construction Type
- Market Size & Analysis
- Japan Precast Concrete Market Outlook, 2018-2028F
- Market Size & Analysis
- Market Revenues (USD Million)
- Market Share & Analysis
- By Product Type
- By Construction Type
- Market Size & Analysis
- South Korea Precast Concrete Market Outlook, 2018-2028F
- Market Size & Analysis
- Market Revenues (USD Million)
- Market Share & Analysis
- By Product Type
- By Construction Type
- Market Size & Analysis
- Market Size & Analysis
- Global Precast Concrete Market Key Strategic Imperatives for Success & Growth
- Competition Outlook
- Competition Matrix
- Target Markets
- Research & Development
- Collaborations & Strategic Alliances
- Key Business Expansion Initiatives
- Business Restructuring- Mergers, Acquisitions, JVs
- Strategic Initiatives
- Company Profiles (Business Description, Product Segments, Business Segments, Financials, Strategic Alliances/ Partnerships, Future Plans)
- LafargeHolcim
- Olson Precast Company
- Forterra Pipe and Precast LLC
- Boral Limited
- Gulf Precast Concrete Co. LLC
- Tindall Corporation
- Spancrete
- ELO Beton
- Devinci Precast
- Beaver Gulf Precast Concrete
- CEMEX S.A.B. de.C.V.\
- Larsen & Toubro Limited
- Elementbau-Osthessen GmbH & Co., ELO KG
- STECS
- ACS Group
- Competition Matrix
- Disclaimer