Precast Concrete Market 2021 Present Scenario on Growth Analysis and High Demand to 2030 | expected to grow at a CAGR of 7.7% and is anticipated to reach around USD 175 Billion

Precast concrete is done by casting concrete into a mold, which is preserved in controlled temperatures and then transferred to the construction sites. Precast concrete can differ based on their end use and can be molded into various sizes. They also produce low waste as compared to traditional concrete and offer a relatively safe platform for workers. Expanding construction sector along with the surging demand of high strength concrete is the major factor propelling the market growth.

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The global precast concrete Market in 2020 was approximately USD 131 Billion. The market is expected to grow at a CAGR of 7.7% and is anticipated to reach around USD 175 Billion by 2025. Rising global population leading to surging demand of construction of residential buildings is also projected to boost the market growth in the forecast period. In addition, rapid urbanization along with the increase in infrastructural spending in developing nations is presumed to foster the market growth in the following years.

Owing to advantages of precast concrete such as cost and time efficient construction is propelling the market growth. However, heavy cost of precast concrete, specifically for small projects might hamper the market growth. The rise in technological innovations in designing the products for better quality, ease of use and better performance is expected to continue to intensify the level of competition among the companies to expand their product portfolios by incorporating innovative features, into their product.

Key players in the market are Actividades De Construccion Y  Servicios,  S.A., Bouygues  Construction,  Cemex, Balfour Beatty PLC, Laing O’Rourke, Larsen & Toubro Limited, Taisei Corporation, Skanska  Ab, CRH PLC, Julius Berger Nigeria  PLC,  Red  Sea  Housing  Services,  Atco  Group,  Vinci,  Kiewit  Corporation,  Oldcastle  Precast,  Komatsu  Ltd,  Modular  Space  Corporation,  KEF Infrastructure  India, Preca  Solutions India, Nanaimo  Precast, Coreslab Structures, Coltman  Precast Concrete Ltd, Metromont Corporation, Styl-Comp Group, Smeet Precast and Others.

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Based On The Type, The Global Precast Concrete Market Segmented Into

Residential
Non-residential
Infrastructure

Based On The Application, The Global Precast Concrete Market Segmented Into

Structural Building Components
Architectural Building Components
Transportation Products
Water & Waste Handling Products
Others

Based On The Region, The Global Precast Concrete Market Segmented Into

Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia]
Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland]
North America [United States, Canada, Mexico]
Middle East & Africa [GCC, North Africa, South Africa]
South America [Brazil, Argentina, Columbia, Chile, Peru]

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Improvement in top line and bottom line growth

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