Precast Construction Market Estimated to Reach Value of US$ 217.5Bn by 2031: TMR Study

News provided by

Nov 16, 2022, 06:30 ET

Increasing investments in building and construction industry could boost growth in Precast Construction Market during forecast period
Rising demand for floor and roof structure systems assisting in expansion of overall market
Asia Pacific is the dominant region in global market because of rapid urbanization and industrialization witnessed in countries such as China and India

WILMINGTON, Del., Nov. 16, 2022 /PRNewswire/ -- As per TMR study, the global Precast Construction Market is anticipated to advance at CAGR of 5.1% during the forecast period, starting in 2022 and ending in 2031.

The past decade has witnessed steady increase in number of population sections moving from rural areas to urban areas. This has led to rise in building and construction activities and fueled the demand for precast construction owing to numerous advantages offered such as durability, low maintenance, and energy efficiency.

Few different types of precast construction include bean and column system, bearing wall system, facade system, and floor and roof systems.

Some of the application areas include hydraulic works, specialized works, transmission works, and power plants and communication works.

New precast construction product launches are helping leading market players in gaining a competitive edge over other players.

Furthermore, prominent market players are adopting growth strategies such as signing of collaborative agreements with other players to expand their presence in global market and increase their revenue.

Request FREE Sample:
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=20921

Key Findings of Precast Construction Market Study

Increasing Investments in Buildings and Construction Industry Could Trigger Growth in Global Market: The past few years have witnessed an increase in investment in building and construction industry. Key reasons behind the rise in investments are the increase in implementation of several welfare policies and schemes, implemented by governments and low interest rates in housing sector, which is contributing to overall market growth. Furthermore, rising investments in building and construction industry could lead to increase in demand for precast concrete which could help the future of the precast concrete industry.
Rising Demand for Floor and Roof Structure Systems Propelling Overall Market: The floor and roof structure system segment accounted for largest share in overall market, in 2021. Precast constructed floor and roof systems offer superior sound transmission and improved heat resistant features. Furthermore, the floor and roof structure system have load distribution characteristics and are deployed in paper industry, gymnasiums, garages, industrial buildings, and office and commercial spaces. Furthermore, floor and roof structure systems have also been used as thermal mass to decrease the need for air conditioning, which has helped the growth in the segment

Precast Construction Market-Key Drivers

Increasing number of new house purchases owing to rising disposable income of large populations is one of the key driving factors of global Precast Construction Market
Advancements of precast panels, precast lift shafts, and precast walls is triggering the growth in overall market

Make an Enquiry Before Buying:
https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=20921

Precast Construction Market-Regional Market Insights

Asia Pacific is presently the dominant region in global market. Rapid urbanization and industrialization, as well as refurbishment and renovation of old building structures in developed and developing economies such as China and India is augmenting the growth in overall market growth in the region. Furthermore, increasing demand for precast concrete in building and construction activities could help the future of precast concrete industry
Latin America is expected to witness significant growth in market because of increased availability of custom solutions for construction activities in countries such as Brazil and Costa Rica

Precast Construction Market-Key Players

The global Precast Construction Market is consolidated with a handful of prominent market players. Entry of new players, during the forecast period, could intensify the competition in overall market.

Few leading players in global Precast Construction Market include

Bison Manufacturing Ltd.,
Tindall Corp.,
L&T Limited,
CRH PLC, and Taisei Corporation.

Ask References:
https://www.transparencymarketresearch.com/sample/sample.php?flag=ARF&rep_id=20921

The global Precast Construction Market is segmented as follows:

Structure System

Beam and Column System
Floor and Roof System
Bearing Wall System
Façade System
Others

End-use

Building Works
Residential
Non-residential
Civil Works
Hydraulic Works
Transportation Works
Power Plants and Communication Works
Specialized Works

Regions Covered

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

Browse More Chemicals and Materials Reports by TMR:

Drilling Fluids Market - Drilling Fluids Market to Reach US$ 14.5 Bn by 2031

Transparent Ceramics Market - Transparent Ceramics Market to Register CAGR of 21.7% from 2022 to 2031

Concrete Fiber Market - Concrete Fiber Market to Register CAGR of 6.2% from 2021 to 2031

Wood Flooring Market - Wood Flooring Market to Register CAGR of 5.9% from 2022 to 2031

Aerated Autoclaved Concrete (AAC) Market - Aerated Autoclaved Concrete (AAC) Market to Register CAGR of 7.01% from 2022 to 2031

Crack Proof Paint Market - Crack Proof Paint Market to Register CAGR of 5.5% from 2022 to 2031

Thermoplastic Polyamide Elastomers Market - Thermoplastic Polyamide Elastomers Market to Register CAGR of 5.8% from 2022 to 2031

Copper Pipes & Tubes Market - Copper Pipes & Tubes Market to Register CAGR of 3.1% from 2022 to 2031

About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.

For More Research Insights on Leading Industries, Visit our YouTube channel - https://www.youtube.com/channel/UC8e-z-g23-TdDMuODiL8BKQ

Contact Us:

Nikhil Sawlani
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Blog: https://tmrblog.com
Email: [email protected]