Precast Concrete Market Size, Opportunities, Trends, Products, Revenue Analysis, For 2021–2026
The global precast
concrete market is forecast to reach USD 168.17 Billion by
2026, according to a new report by Reports and Data. The increasing residential
construction activities across the globe, coupled with the rising population,
are propelling the growth of the market. Rapid urbanization and
industrialization will also drive the demand for precast concrete during the
forecast period. Construction Industry is a booming industry and is expected to
remain so with the continuation of the development process, especially in the
developing countries. Moreover, the rising investments in smart cities in the
emerging economies will also boost the demand for precast concrete worldwide.
Precast concretes are a highly
efficient and practical method of concrete construction to build aesthetic
buildings possible at lower costs. Precast concrete offers a suitable delivery
model for the construction projects; allowing it to proceed while the design is
developed. They can take nearly any shape or size and can be manufactured in a
wide variety of colors and finishes. These products are manufactured off-site,
under roof and are delivered at ready-to-install stage, when needed. This
innovative process compresses project schedules, reduces site disruption,
reduces safety concerns, and reduces the overall project costs by requiring
lesser trades for construction and fewer workers on site. Moreover, precast
concrete is entirely recyclable, making it an environmentally-friendly choice.
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Key
participants include SKANSKA AB, Coltman
Precast Concrete Limited, Jensen Precast, Tindall Corporation, Molin Concrete
Products Company, Inc., Taiheiyo Cement, Coreslab Structures, Heidelberg Cement
AG, CRH, Larsen & Toubro Limited, SMEET, and Metromont Corporation, among
others.
Further key findings from the report
suggest
- Among the
construction types, elemental construction is anticipated to witness the
fastest growth of 6.6% during the forecast period. The elemental
construction include a diverse range of completed projects for commercial
and residential applications and their renovations.
- The precast
concrete waste and water handling products account for the largest market
share of ~24% in the year 2018. Water and waste handling products produced
from precast concrete include manholes, septic tanks, water & sewer
system components, hazardous material containers, grease interceptors, and
other products.
- The demand
for the products in the residential market will be a crucial driver of the
waste and water handling products segment's growth, as advances in housing
starts and manufactured housing placements boost septic tank demand. In
the non-building sector, increase in water and sewer construction spending
will spur demand for water & sewer system components, manholes, and
other products.
- The
structural building components are anticipated to witness the highest
growth rate of 6.6% during the forecast period, owing to the demand for
the components such as concrete slabs, prefabricated building systems, structural
supports, precast foundations, and other products, across all commercial
and residential applications.
- The Asia
Pacific region held the largest market share of ~31% in the year 2018 and
is anticipated to witness the highest CAGR of 6.7% during the forecast
period. High construction & infrastructure spending in emerging
economies, including China and India, are majorly escalating the demand
for precast concrete.
- Moreover,
the growing transportation and tourism industry in the region has led to
an increased demand for warehouses, hotels, restaurants, and others, which
positively impacts the market growth.
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For this report, Reports and Data have
segmented into the global precast concrete market on the basis of product type,
construction type, application, end-user, and region:
Product Type
Outlook (Volume, Kilo Tons and Revenue, USD Million; 2016-2026)
- Floors & Roofs
- Walls & Barriers
- Columns & Beams
- Pipes
- Paving Slabs
- Others
Construction type
Outlook (Volume, Kilo Tons and Revenue, USD Million; 2016-2026)
- Elemental Construction
- Permanent Modular Buildings
- Re-Locatable Buildings
Application
Outlook (Volume, Kilo Tons and Revenue, USD Million; 2016-2026)
- Structural Building Components
- Water & Waste Handling Products
- Transportation Products
- Architectural Building Component
- Others
End-User Outlook
(Volume, Kilo Tons and Revenue, USD Million; 2016-2026)
- Industrial
- Commercial
- Residential
Market Drivers:
The constant efforts of the prominent
players to develop innovative products and technologies are driving the growth
of the industry. Additionally, the market is witnessing numerous strategic
collaborations and initiatives that are expanding the scope of the market. The
report discusses in detail the factors and elements of the Precast Concrete
market that are positively influencing the growth of the market.
Regional Analysis:
The report offers clear insights into
the regional bifurcation of the market with regards to the regions where the
market has already established its prominence. Furthermore, it analyzes the key
regions for production and consumption ratio, import/export analysis, supply
and demand dynamics, regional trends and demands, and the presence of prominent
players in each region. The regional analysis segments also offer a
country-wise analysis to offer a panoramic view of the market.
The regional analysis covers:
· North America (U.S., Canada)
· Europe (U.K., Italy, Germany, France, Rest of
EU)
· Asia Pacific (India, Japan, China, South
Korea, Australia, Rest of APAC)
· Latin America (Chile, Brazil, Argentina, Rest
of Latin America)
· Middle East & Africa (Saudi Arabia,
U.A.E., South Africa, Rest of MEA)
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Competitive Landscape:
The report offers a comprehensive
overview of the competitive landscape of the market to provide an advantage to
the reader. This segment focuses on the initiatives and innovations adopted by
the key players to gain a strong foothold in the market. The report also sheds
light on mergers and acquisitions, joint ventures, collaborations, partnerships,
and agreements, among others, to offer a better understanding of the market.
The report also offers insights into revenue, gross profit margin, financial
standing, market position, product portfolio, and other vital aspects of each
player. The report also includes a thorough SWOT analysis and Porter’s Five
Forces analysis.
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