Concrete Market Size, Top Companies, Development Status and Opportunities by 2030

The Concrete Market was valued at $167.7 billion in 2020, and is expected to reach $972.0 billion by 2030, registering a CAGR of 4.7% from 2021 to 2030.

The Construction of all infrastructures need concrete for building purpose. Concrete can be in the form of ready-mix concrete or precast products & elements. Revenue generated by sales of these products represents the market size of the concrete market.

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Top Leading Companies
CEMEX, S.A.B. de C.V., CRH, Forterra, Heidelbergcement AG, Holcim, Shay Murtagh Precast Ltd, Sika AG, Votorantim S.A., Weckenmann Anlagentechnik GmbH & Co. KG, and Wells Concrete. Major companies in the market have adopted strategies such as business expansion, acquisition, product launch, and collaboration to offer better products and services to customers in the concrete market

This study confers an informative depiction of the global market along with the recent trends and future valuations to support the investment pockets. Porter's five forces analysis, on the other hand, validates the influence of buyers & suppliers in the market. The report offers a detailed market study based on economical force and how the global competition will shape up in the near future.

Increase in government expenditures for development and reconstruction & repair of infrastructures in various countries leads to increase in demand for ready-mix concrete and precast products & elements. In addition, ready-mix concrete and precast products reduce construction time, which, in turn, saves project cost and timeline. Moreover, these products are cost effective and reduce wastage of raw material.

Furthermore, innovation in manufacturing technology boost production quality and capacity. These are factors are anticipated to propel the market growth.

However, initial investment costs are high to setup ready-mix concrete plants and precast production facility. This leads customers to buy products in bulk at discounted rates. In addition, there has been rise in environmental awareness, which has led to adoption of sustainable and environment friendly construction material to build houses and offices. Such factors hinder growth of the concrete market. Further, the outbreak of COVID-19 has led to halt in construction and manufacturing activities across the globe. Halt in logistics services has led to interruption of supply chain, which, in turn, hinders growth of the concrete market. However, industries are gradually getting back on track and vaccine manufacturing is expected to lead to recovery of the concrete market by the end of 2021.

On the contrary, rapid urbanization and industrialization in developing countries has given rise to construction activities, which act as a major opportunity for growth of the concrete market.

The concrete market is segmented into concrete type, application, end-user industry and region. By concrete type, it is segregated into ready-mix concrete, precast products, and precast elements. Depending on application, it is classified into reinforced concrete and non-reinforced concrete. On the basis of end-user industry, it is divided into roads & highways, tunnels, residential buildings, non-residential buildings &, dams & power plants, mining and others.

The global Concrete market is classified on the basis of type, application, end-user, and region. Based on geography, the market is studied across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, Spain, France, Italy, and rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).  

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