Precast Concrete Market Global Key Players, Size, Share, Demands, Construction Type and Forecasts to 2027

The global precast concrete market size is projected to grow from USD 144.6 billion in 2022 to USD 198.9 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 6.6%. The production of precast concrete elements is done in controlled conditions in enclosed factories. This means that tolerances can be accurately controlled, waste can be minimized, and denser, stronger, and better-quality concrete can be produced. Apart from quality and precision, manpower requirements are reduced tremendously. The actual construction of the buildings on site is executed in a much shorter space of time compared to in-situ constructions. This is environmentally friendly and reduces noise and dust pollution.

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"Relocatable buildings segment to be the third largest segment from 2022 to 2027, for precast concrete."
Relocatable buildings such as manufactured homes are prefabricated and produced in factories and transported to the site. Unlike permanent modular constructions, relocatable buildings are assembled into the final structure of a building in the factory or the site of manufacture. The entire structure is attached to a permanent wheeled chassis, through which the building is transported to the site of living towed by a truck, upon the completion of the structure. This type of building is perfect for temporary living and site offices.

"Wet concrete to dominate the precast concrete market through the forecast period."
Wet cast concrete is a flowable form of concrete that may be poured from a mixer, hopper, or truck. Wet cast concrete is often used in the precast industry, where it is cast in forms and stripped, finished, and marked before shipping. The wet cast is often used for larger pieces that are more complex and need flowability in the concrete to consolidate around reinforcement and throughout the form. In a wet-mix application, all materials, including cement, aggregate, admixture, and water, are mixed before being pumped through a hose and pneumatically projected. Typically, a concrete truck supplies the wet mix and is pumped through a shotcrete rig for placement. Generally, the wet mix is used for large volume placements with easy access for construction vehicles.

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"Architectural building components to be the second fastest growing market for precast concrete through the forecast period."
Architects have chosen precast concrete architectural facades for more than half a century because they offer exceptional esthetic, structural versatility, speed of enclosure, and durability. No other material combines the range of shapes, colors, textures, fire resistance, acoustical insulation, weather tightness, long-term durability, low maintenance care, and rapid enclosure. Precast wall panels include weather-tight enclosures for maximum protection against mold and mildew, and their superior structural strength makes them highly impact- and blast-resistant for maximum security. The durability of wall panel systems makes them ideal for meeting long-term construction needs.

"Europe to be the second largest market for precast concrete."
Europe is the second-largest market for precast concrete in the world. The market in the region has been studied for Germany, the UK, France, Russia, Italy, and the Rest of Europe (Belgium, Greece, the Netherlands, Romania, Poland, Spain, and Switzerland). Europe is a well-established market for precast concrete. Government regulations, high disposable income, and changing lifestyles of the consumers are some significant factors contributing to the high demand for precast concretes.

Construction is one of the largest and most important sectors in the region, and is highly fragmented and consists of a significant number of large, medium, and small-sized concrete companies. The region's construction industry has adopted mergers & acquisitions and expansions as strategies to sustain the growing demand and competition. Due to technological developments in Germany, the precast concrete market in this country is projected to grow at a higher rate than in other European countries.

This study has been validated through primaries conducted with various industry experts worldwide. These primary sources have been divided into 3 categories, namely by company, by designation, and by region.
• By Department- Sales/Marketing - 62.1%, Production - 25.6%, R&D - 12.3%
• By Designation- Managers - 54.9%, CXOs - 15.5%, Executives- 29.7%
• By Region- North America- 18%, Europe- 14%, Asia Pacific- 42%, Middle East & Africa - 22% and South America - 4%

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The precast concrete market comprises major solution providers, Cemex S.A.B. de C.V. (Mexico), Lafarge Holcim Ltd (Switzerland), Skanska AB (Sweden), CRH Plc (Ireland), Balfour Beatty Plc (UK), Boral Limited (Australia) among others. The study includes an in-depth competitive analysis of these key players in the precast concrete market, with their company profiles, and key market strategies.

Research Coverage:
The report covers the precast concrete market based on Elements ( Columns & beams, Floors & roofs, Girders, Walls & barriers, Utility vaults, Pipes, Paving slabs, and Others), Construction Type (Elemental constructions, Permanent modular building and Relocatable buildings), Type (Dry/semi-dry concrete and Wet concrete), End-use industry (Residential and Non-residential), Application (Structural building components, Architectural building components, Transportation products, Waste & waste handling products and Others)and Region. The report also provides a comprehensive review of market drivers, restraints, opportunities, and challenges in the precast concrete market. The report also covers qualitative aspects in addition to the quantitative aspects of these markets.

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