Global Precast Concrete Market Report 2022: Sector to Reach $181.1 Billion in 2031

DUBLIN, April 12, 2023 /PRNewswire/ -- The "Precast Concrete Global Market Opportunities And Strategies To 2031" report has been added to  ResearchAndMarkets.com's offering.

This report provides the strategists; marketers and senior management with the critical information they need to assess the global precast concrete market as it emerges from the COVID-19 shut down.

The global precast concrete market reached a value of nearly $109,866.1 million in 2021, having grown at a compound annual growth rate (CAGR) of 3.9% since 2016. The market is expected to grow from $109,866.1 million in 2021 to $139,233.8 million in 2026 at a rate of 4.9%. The market is then expected to grow at a CAGR of 5.4% from 2026 and reach $181,119.8 million in 2031. 

Companies Profiled

• Holcim Group
• CRH plc
• Gulf Precast Concrete Co.
• Tindall Corporation
• Boral Limited

Reasons to Purchase

• Gain a truly global perspective with the most comprehensive report available on this market covering 12 geographies
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• Identify growth segments for investment
• Outperform competitors using forecast data and the drivers and trends shaping the market
• Understand customers based on the latest market research findings
• Benchmark performance against key competitors
• Utilize the relationships between key data sets for superior strategizing
• Suitable for supporting your internal and external presentations with reliable high-quality data and analysis

Growth in the historic period resulted from increasing expenditure on road and water infrastructure development, growing demand for residential and commercial spaces, increase in demand for precast construction and low interest rate environment. Factors that negatively affected growth in the historic period were rising material cost, volatility in raw materials prices and COVID-19 impact.

Going forward, increasing construction activities globally, increase in population growth, increasing industrialization, rising renovation activities and technology development will drive the growth. Factors that could hinder the growth of the precast concrete market in the future include falling consumer demand, health and safety measures, and rising interest rates.

The precast concrete market is segmented by product into structural building components, architectural building components, transportation products, water and waste handling products and other products. The structural building components market was the largest segment of the precast concrete market segmented by product, accounting for 36.2% of the total in 2021. Going forward, the transportation products segment is expected to be the fastest growing segment in the precast concrete market segmented by product, at a CAGR of 5.2% during 2021-2026.

The precast concrete market is segmented by type into concrete masonry units (CMUs), pavers, retaining walls and other types. The other types market was the largest segment of the precast concrete market segmented by type, accounting for 67.6% of the total in 2021. Going forward, the CMUs segment is expected to be the fastest growing segment in the precast concrete market segmented by type, at a CAGR of 4.93% during 2021-2026.

The precast concrete market is segmented by element into columns and beams, floors and roofs, walls and barriers, girders, pipes, paving slabs, utility vaults and other elements. The columns and beams market was the largest segment of the precast concrete market segmented by element, accounting for 22.6% of the total in 2021. Going forward, the girders segment is expected to be the fastest growing segment in the precast concrete market segmented by element, at a CAGR of 5.2% during 2021-2026.

The precast concrete market is also segmented by end-user into residential, non-residential and infrastructure. The residential market was the largest segment of the precast concrete market segmented by end-user, accounting for 44.5% of the total in 2021. Going forward, residential segment is expected to be the fastest growing segment in the precast concrete market segmented by end-user, at a CAGR of 5.1% during 2021-2026.

Asia Pacific was the largest region in the precast concrete market, accounting for 36.3% of the total in 2021. It was followed by North America, and then the other regions. Going forward, the fastest-growing regions in the precast concrete market will be Asia Pacific and Eastern Europe where growth will be at CAGRs of 5.6% and 5.4% respectively. These will be followed by Western Europe and North America where the markets are expected to grow at CAGRs of 4.8% and 4.4% respectively.

The global precast concrete market is highly fragmented, with a large number of players in the market. The top ten competitors in the market made up to 2.82% of the total market in 2021. The global market is highly competitive. Thus, many market participants focus on reducing their product prices while improving the quality.

Holcim Group was the largest competitor with 0.67% of the market, followed by CRH plc with 0.64%, Gulf Precast Concrete Co with 0.52%, Tindall Corporation with 0.29%, Boral Limited with 0.25%, Forterra Inc with 0.23%, CEMEX S.A.B. de C.V with 0.13%, Balfour Beatty plc with 0.07%, Laing O'Rourke with 0.03%, and Olson Precast Company with 0.01%.

Player-adopted strategies in the precast concrete market include strategic acquisitions, securing new projects and launch of new precast products.

To take advantage of the opportunities, the publisher recommends the precast concrete companies to use internet of things (IoT) in precast concrete manufacturing plants, focus on green cement, focus on product innovations, expand in emerging markets, continue to focus on developed countries, focus on mergers and acquisitions, offer competitive pricing, continue to participate in trade shows and events and approach contractors, remodelers, interior designers and target governments.

Key Topics Covered:

1. Precast Concrete Market Executive Summary

2. Table of Contents

3. List of Figures

4. List of Tables

5. Report Structure

6. Introduction and Market Characteristics
6.1. General Market Definition
6.2. Summary
6.3. Market Segmentation By Product
6.3.1. Structural Building Components
6.3.2. Architectural Building Components
6.3.3. Transportation Products
6.3.4. Water and Waste Handling Products
6.3.5. Other Products
6.4. Market Segmentation By Type
6.4.1. Concrete Masonry Units (CMU)
6.4.2. Pavers
6.4.3. Retaining Walls
6.4.4. Other Types
6.5. Market Segmentation By Element
6.5.1. Columns and Beams
6.5.2. Floors and Roofs
6.5.3. Walls and Barriers
6.5.4. Girders
6.5.5. Pipes
6.5.6. Paving Slabs
6.5.7. Utility Vaults
6.5.8. Other Elements
6.6. Market Segmentation By End-User
6.6.1. Residential
6.6.2. Non-Residential
6.6.3. Infrastructure

7. Major Market Trends
7.1. Innovative Products
7.2. IoT in Precast Concrete Manufacturing Plants
7.3. Strategic Partnership And Collaboration
7.4. Construction Of Green Buildings
7.5. Green Cement
7.6. Increasing Mergers And Acquisitions

8. Global Market Size And Growth
8.1. Market Size
8.2. Historic Market Growth, 2016 - 2021, Value ($ Million)
8.2.1. Market Drivers 2016 - 2021
8.2.2. Market Restraints 2016 - 2021
8.3. Forecast Market Growth, 2021 - 2026, 2031F Value ($ Million)
8.3.1. Market Drivers 2021 - 2026
8.3.2. Market Restraints 2021 - 2026

9. Global Precast Concrete Market Segmentation
9.1. Global Precast Concrete Market, Segmentation By Product, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
9.2. Global Precast Concrete Market, Segmentation By Type, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
9.3. Global Precast Concrete Market, Segmentation By Element, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
9.4. Global Precast Concrete Market, Segmentation By End-User, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)

10. Precast Concrete Market, Regional And Country Analysis
10.1. Global Precast Concrete Market, By Region, Historic and Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
10.2. Global Precast Concrete Market, By Country, Historic and Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)

For more information about this report visit https://www.researchandmarkets.com/r/3sqg90

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