Precast Concrete Market 2024 Latest Insights, Growth Rate, Future Trends And Forecast | Key Players : Holcim Group, CRH plc, Gulf Precast Concrete Co, Tindall Corporation, Boral Limited, Forterra Inc, CEMEX S.A.B. de C.V, Balfour Beatty plc

"The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company presents an extensive market research report on the Precast Concrete Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:

The precast concrete market size has grown steadily in recent years. It will grow from $120.39 billion in 2023 to $126.06 billion in 2024 at a compound annual growth rate (CAGR) of 4.7%. The growth in the historic period can be attributed to increasing expenditure on road and water infrastructure development, growing demand for residential and commercial spaces, increase in demand for precast construction and low interest rate environment..

The precast concrete market size is expected to see steady growth in the next few years. It will grow to $153.05 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%. The growth in the forecast period can be attributed to increasing construction activities globally, increase in population growth, increasing industrialization, rising renovation activities and technology development. Major trends in the forecast period include investing in research and development of innovative products, focus on implementing iot technology, focus on partnerships and collaboration, focus on environment-friendly building materials, and focus on mergers and acquisitions..

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Key Market Players:

Major companies operating in the precast concrete market report are Holcim Group, CRH plc, Gulf Precast Concrete Co, Tindall Corporation, Boral Limited, Forterra Inc, CEMEX S.A.B. de C.V, Balfour Beatty plc, Laing O'Rourke, Olson Precast Company, Bianco Precast, Precast Australia Pty Ltd, Jain Spun Pipe Co, Reva Engineering Enterprises, Trilok Precast Private Limited, Pakona Engineers I Pvt Ltd, Suryotthan Merchandise Private Limited, Nova Formworks Private Limited, Xiamen Zhongjingtai Building Materials Co. Ltd, Sinomega House (Qingdao) Co. Ltd, Shandong Hummingbird machinery Co. Ltd, Guangzhou Welons Supply Chain Management Co. Ltd, BREMER AG, Weckenmann Anlagentechnik GmbH & Co, ELO Beton, Cementos Molins, HeidelbergCement, Ciments Francais, Vicat, Carrires de Mouen, Banagher Precast Concrete, Longley Group, SpanWright UK, Smolkirpich.ru, CeramicGroup, Ceresit, McGrown-DeYoung, Euro Slats, Oldcastle Precast, Atco Group, Rotesma, Rinol Hormipul Chile S.A, BFT International, United Precast Concrete Abu Dhabi LLC, Dubai Precast LLC, Abu Dhabi Precast LLC, Hard Precast, Prainsa Saudi Arabia for Precast Concrete, Alfanar Precast Factory, Ranco & Zamil, Alumlight Israel Ltd, Wolfman Industries LTD, Kwikspace Modular Buildings Ltd, Concretex

Market Drivers:

Increasing expenditure on road and water infrastructure is significantly driving the growth of the precast concrete market. The use of precast concrete offers major time and user cost savings in comparison with the traditional cast-in-place methods of construction. Emerging and advanced economies are increasing their spending on road and water infrastructure to bridge the gap between the required infrastructure and available infrastructure. Governments of various countries are increasing their expenditure on infrastructural developments to bridge this gap. For instance, in September 2021, the Indian government announced road projects worth INR 1 lakh crore ($13.48 billion) to develop road infrastructure in Jammu and Kashmir. The number of national highways in the region has also increased, from 7 in 2014 to 11 in 2021. These infrastructural developments will invariably increase the demand for precast concrete products. Therefore, the increasing expenditure on road and water infrastructure drives the precast concrete market over the coming years.

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The precast concrete market covered in this report is segmented -

1) By Product: Structural Building Components, Architectural Building Components, Transportation Products, Water And Waste Handling Products, Other Products
2) By Type: Concrete Masonry Units (CMUS), Pavers, Retaining Walls, Other Types
3) By Element: Columns And Beams, Floors And Roofs, Walls And Barriers, Girders, Pipes, Paving Slabs, Utility Vaults, Other Elements
4) By End-Use: Residential, Non-Residential, Infrastructure

The report answers the following questions:
What are the primary factors propelling the market during the projected period?

In which region is the most substantial growth expected?

Which trend will take center stage in the upcoming period?

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