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.
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For this report, Reports and Data have segmented into the global Precast Concrete market on the basis of resin type, composite phases, industry vertical, and region:
Product Type Outlook (Volume, Kilo Tons and Revenue, USD Million; 2016-2026)
Floors & Roofs
Walls & Barriers
Columns & Beams
Construction type Outlook (Volume, Kilo Tons and Revenue, USD Million; 2016-2026)
Permanent Modular Buildings
Application Outlook (Volume, Kilo Tons and Revenue, USD Million; 2016-2026)
Structural Building Components
Water & Waste Handling Products
Architectural Building Component
End-User Outlook (Volume, Kilo Tons and Revenue, USD Million; 2016-2026)
Regional Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)
- North America
- Asia Pacific
- Latin America
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About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
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The post Precast Concrete Market Size, Strategies, Competitive Landscape, Trends & Factor Analysis, 2016–2026 | Reports And Data first appeared on News Degree | Hub for Latest and Trending News from Around the Globe.
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