The "Precast Concrete Market" is expected to witness high growth as a result of the rising urbanization, large-scale investments in infrastructure & industrial sectors, and rising construction activities in emerging economies. The precast concrete market size will grow from USD 104.03 Billion in 2017 to USD 138.96 Billion by 2022, at an estimated CAGR of 5.96%.
In addition to this, factors such as improved work-zone safety for workers, easier material handling, and minimized need for scaffolding are encouraging contractors and builders to adopt the precast construction technique.
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The construction industry witnessed a significant change with the introduction of precast technology as it allows building more structures with reduced time and cost as compared to the conventional on-site construction method. Being constructed under a closed and controlled facility, the precast modules are less affected by adverse environmental conditions such as excessive moisture, heat, and pollution.
Target audience:
• Raw material suppliers
• Original equipment manufacturers
• Real estate agents
• Architects & engineers
• Building contractors
• Logistics partners
• Machinery suppliers
• Regulatory bodies
• End users
• Market research and consulting firms
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Market By Element:
• Floors & roofs
• Walls & barriers
• Columns & beams
• Utility vaults
• Girders
• Pipes
• Paving slabs
By Region:
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
On the basis of the element, the columns & beams segment is projected to grow at the highest rate during the forecast period due to factors such as improved work-zone safety for workers, easier material handling, and minimized need for scaffolding encourage contractors and builders to adopt the precast construction technique. The girders segment is expected to play a key role in changing the precast concrete market and is projected to grow at the highest rate during the forecast period.
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Asia Pacific is the largest consumer of precast concrete products, with China, India, Japan, Indonesia, and Australia being the major markets. The Asia Pacific precast concrete market is projected to register the highest CAGR during the forecast period.
The global precast concrete market is dominated by players such as Actividades de Construcción y Servicios (Spain), Bouygues Construction (France), Larsen & Toubro (India), Taisei (Japan), and Balfour Beatty (UK). Other players include Skanska (Sweden), CRH (UK), Cemex S.A.B.DE C.V. (Mexico), Laing O’Rourke (UK), and Julius Berger Nigeria (Nigeria).
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