Press release
Precast Concrete Market Size to reach USD 237.1 billion by 2029, Trends, Growth Statistics, Key Players and Forecast
Precast Concrete Market Overview:Precast concrete elements are used construction and building sector for residential and non-residential purposes. This significantly reduces the time for construction, number of laborers, and cost. The gradual shifting of building contractors and customers towards eco-friendly and cost-effective with modern building designs are fueling the market growth of the Precast Concrete Market. Also, growing industrialization and urbanization in emerging economies are propelling the market growth of the Precast Concrete Market.
Precast Concrete Market size was valued at USD 130.30 Billion in 2020 and is projected to reach USD 207.40 Billion by 2029, growing at a CAGR of 5.3% from 2022 to 2029.
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Precast concrete, as the name suggests, is a form of concrete that is prepared, cast, and dried off-site using reusable molds. This whole process is usually done in a controlled factory environment where the precast concrete elements can be joined together to form a complete structure.
Precast Concrete Market Key Players
The study of the growth of the top market player for in the target sector includes new projects with speculative returns, innovations and study of the accessibility of companies. some of the profiled players are Cemex S.A.B de C.V., LafargeHolcim Ltd, Skanska AB, CRH PLC, Balfour Beatty PLC, Laing O'Rourke, Oldcastle Infrastructure Inc., Atco Concrete Products N.V., Forterra, Tindall Corporation, ELO Beton, Boral Limited, Gulf Precast Concrete Co. LLC. and Others
Mergers and Acquisitions
On January 2021, LafargeHolcim entered into an agreement to acquire Firestone Building Products from Bridgestone Americas for USD 3.4 billion.
On July 2021, Forterra Inc., acquired the business of Barbour Concrete Company & Barbour Building Systems.
Product Launches and Product Expansions
On Decemeber 2020, CEMEX launched Vertua, its brand of low carbon ready-mix concrete, in the US after the successful introduction in Mexico and Europe. The range consists of Vertua Classic, Vertua Plus, and Vertua Ultra.
On March 2020, Abumet Nigeria Limited is a subsidiary company of Julius Berger Nigeria Plc has started state-of-the art IGU production line in Abuja, Nigeria. With this new facility, the company has increased its presence in the Middle East & Africa.
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Precast Concrete Market Segmentation:
Precast Concrete Market by Structure System Component, 2020-2029, (USD Million)
Beam & Column System
Bearing Wall System
Façade System
Floor & Roof System
Precast Concrete Market by Deployment Element, 2020-2029, (USD Million), Columns & Beams
Floors & Roofs
Walls & Barriers
Girders
Pipes
Paving Slabs
Utility Vaults
Others (Include Staircases, Lintels, Manholes, Door & Window Components, And Water & Sewer System Products)
Precast Concrete Market by Construction Type, 2020-2029, (USD Million)
Elemental Construction
Permanent Modular Buildings
Relocatable Buildings
Precast Concrete Market by End-Use Industry, 2020-2029, (USD Million)
Residential
Growth Factors:
Increasing demand from the Precast Concrete industries
The growing use of Precast Concrete in Chemical and Material Sectors.
Rising demand for products
Technological advancements in production processes
Growing applications in Precast Concrete Market
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Precast Concrete Market Regional Analysis
Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth Rate of Fiberglass Storage Tank (Fiberglass Tank) Professional in these regions, from 2022-2029, covering
North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Key Precast Concrete Market Trends
- The report identifies, determines, and forecasts the Global Precast Concrete Market segments based on their type, sub-type, technology used, applications, end-users, and regions.
- Industry to Industry Holds Largest Share in the Precast Concrete Market
- It examines the micro-markets based on their growth trends, development patterns, future prospects, and contribution to the overall market.
- Demand from Regional / geographical is expected to drive the Growth
- Rising Adoption of Market Segments in the Precast Concrete Growth
- It studies the competitive developments such as partnerships and collaborations, mergers and acquisitions (M&A), research and development (R&D) activities, product developments, and expansions in the Global Precast Concrete Market.
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