Precast Concrete Market Size to Reach US$ 166.3 Billion, Globally, by 2028 at 5.2% CAGR

According to the latest report by IMARC Group, titled, "Precast Concrete Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", The global precast concrete market size reached US$ 122.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 166.3 Billion by 2028, exhibiting a growth rate (CAGR) of 5.2% during 2023-2028.

Precast concrete refers to a construction product made by casting concrete and pouring a mixture of water, cement, and aggregates, such as sand, gravel, and crushed stone into a mold and allowing it to harden and cure before transporting it to the construction site. It offers consistent quality, improved durability, reduced waste, and enhanced safety. It also offers flexibility in design and can be customized to meet specific project requirements, such as small decorative items and large structural elements like beams, columns, walls, and slabs. At present, it is widely utilized in construction projects wherein speed, durability, and cost-effectiveness are key considerations, as it is ready-to-install and reduces construction time and labor costs.

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Precast Concrete Market Trends and Drivers:

The inflating disposable incomes, rapid urbanization, and significant rise in construction and renovation activities are among the major factors positively influencing the market across the globe. In addition, the rising need for eco-friendly and sustainable construction practices and the increasing demand for construction products that are durable, cost-effective, and sustainable are catalyzing the demand for precast concrete as a popular choice due to its durability, energy efficiency, and ability to incorporate recycled materials. Apart from this, the incorporation of advanced technologies, such as 3D printing and artificial intelligence (AI), for improving the efficiency and quality of precast concrete and creating complex designs and structures are stimulating the growth of the market.

Precast Concrete Market 2023-2028 Competitive Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Balfour Beatty plc
Boral Limited
CEMEX S.A.B. de C.V.
Elementbau Osthessen GmbH & Co. ELO KG
Forterra Inc.
Gulf Precast Concrete Co LLC
Holcim Group, Laing O'Rourke
Olson Precast Company
Spancrete Inc. (Wells Concrete)
Tindall Corporation.

The report has segmented the market based on type, product and end use.

Breakup by Type:
Floors and Roofs
Columns and Beams
Stairs and Landing
Walls

Breakup by Product:
Structural Building Components
Architectural Building Components
Transportation Products
Water and Waste Handling Products
Others

Breakup by End Use:
Residential
Non-Residential

Breakup by Region:
North America
Asia-Pacific
Europe
Latin America
Middle East and Africa

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Key highlights of the report:

Market Performance (2017-2022)
Market Outlook (2023-2028)
Porter's Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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