Precast Concrete Market 2023-2028 | Industry Size, Share, Trends and Forecast

According to the latest report by IMARC Group, titled, “Precast Concrete Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The global precast concrete market size reached US$ 122.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 166.3 Billion by 2028, exhibiting a growth rate (CAGR) of 5.2% during 2023-2028.

Precast concrete refers to a construction product made by casting concrete and pouring a mixture of water, cement, and aggregates, such as sand, gravel, and crushed stone into a mold and allowing it to harden and cure before transporting it to the construction site. It offers consistent quality, improved durability, reduced waste, and enhanced safety. It also offers flexibility in design and can be customized to meet specific project requirements, such as small decorative items and large structural elements like beams, columns, walls, and slabs. At present, it is widely utilized in construction projects wherein speed, durability, and cost-effectiveness are key considerations, as it is ready-to-install and reduces construction time and labor costs.

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Precast Concrete Market Trends and Drivers:

The inflating disposable incomes, rapid urbanization, and significant rise in construction and renovation activities are among the major factors positively influencing the market across the globe. In addition, the rising need for eco-friendly and sustainable construction practices and the increasing demand for construction products that are durable, cost-effective, and sustainable are catalyzing the demand for precast concrete as a popular choice due to its durability, energy efficiency, and ability to incorporate recycled materials. Apart from this, the incorporation of advanced technologies, such as 3D printing and artificial intelligence (AI), for improving the efficiency and quality of precast concrete and creating complex designs and structures are stimulating the growth of the market.

Precast Concrete Market 2023-2028 Competitive Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

• Balfour Beatty plc
• Boral Limited
• CEMEX S.A.B. de C.V.
• Elementbau Osthessen GmbH & Co. ELO KG
• Forterra Inc.
• Gulf Precast Concrete Co LLC
• Holcim Group, Laing O’Rourke
• Olson Precast Company
• Spancrete Inc. (Wells Concrete)
• Tindall Corporation.

The report has segmented the market based on type, product and end use.

Breakup by Type:

• Floors and Roofs
• Columns and Beams
• Stairs and Landing
• Walls

Breakup by Product:

• Structural Building Components
• Architectural Building Components
• Transportation Products
• Water and Waste Handling Products
• Others

Breakup by End Use:

• Residential
• Non-Residential

Breakup by Region:

• North America
• Asia-Pacific
• Europe
• Latin America
• Middle East and Africa

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Key highlights of the report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

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