Concrete Work Market: Surge in Construction Investment Drives Growth Trends, with Key Players Introducing Technological Advancements for Sustainable Construction

The concrete work market size has grown strongly in recent years. It will grow from $389.89 billion in 2023 to $415.63 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to construction industry growth, infrastructure development, urbanization, government investments, population expansion.

The concrete work market size is expected to see strong growth in the next few years. It will grow to $549.53 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to sustainable construction practices, smart cities initiatives, resilience planning, population density challenges, renovation and rehabilitation projects. Major trends in the forecast period include 3d printing technology, decorative concrete finishes, fiber-reinforced concrete, smart concrete solutions, circular economy practices.

Market Overview -
Concrete work refers to any construction or building work that involves the use of concrete as a primary material. The process of concrete work involves the use of concrete to build a variety of buildings, including footings for gates, foundations, fences, poles, overpasses, parking garages, pavements, highways, and bridges.

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Surge In Construction Investment Fuels Growth In The Concrete Work Market
The growing investment in new construction projects is expected to propel the growth of the concrete work market going forward. A construction project is a planned procedure for creating, restoring, updating, retrofitting, or adapting a built asset, such as a building, tunnel, or bridge, to meet a particular business goal. Concrete work is utilized for a variety of construction projects, including the construction of floors, basic foundations, exterior surfaces, superstructures, wastewater treatment facilities, and parking lots or structures. For instance, in January 2023, according to a report published by the U.S. Census Bureau, a primary agency of the United States Federal Statistical System, construction expenditure is expected to account for $1,825.7 billion in 2023, indicating a 5.7% increase from the estimated expenditure of $1,726.6 billion in January 2022. Therefore, the growing investment in new construction projects is driving the growth of the concrete work market going forward.

Competitive Landscape -
Major companies operating in the concrete work market report are Baker Construction Enterprises Inc., Lithko Contracting LLC, Structural Group Inc., Largo Concrete Inc., Suntec Concrete Inc., Kent Companies Inc., Keystone Concrete, Concrete Strategies LLC, CECO Construction Group, TAS Concrete Construction LLC, Quanta Services, EMCOR Group Inc., MasTec Inc., SGB Scaffolding and Industrial Services Private Limited, RF Concrete Construction Inc., CEMEX S.A.B. de C.V, UltraTech Cement Ltd., BuzziUnicem S.p.A, Holcim Inc., ACC Limited, Colas Group SA, Dillon Bros Ready Mix Concrete LLC, Godrej & Boyce Mfg. Co. Ltd., LafargeHolcim Ltd., Livingston's Concrete Service Inc., R.W. Sidley Inc., U.S. Concrete Inc., Vicat SA, Vulcan Materials Co., Argos USA, CalPortland Company, Central Concrete Supply Co. Inc., Chaney Enterprises Limited Partnership, Concrete Supply Co., Dolese Bros. Co., Euclid Chemical Co., Irving Materials Inc., Knife River Corporation, Heidelberg Materials .

Key Players Introducing Temperature-Controlled Concrete In The Concrete Work Market
Technological advancements are a key trend gaining popularity in the concrete work market. Major companies operating in the concrete work market are adopting new technologies to sustain their position in the market. For instance, in February 2023, ACC Limited, an India-based concrete producer, developed Coolcrete, a temperature-controlled concrete. The technologically advanced product is designed to control the internal temperature of concrete during mass concreting or large pours by minimizing the heat of hydration. This helps mitigate the risk of thermal cracking and delayed ettringite formation, ensuring the concrete meets the specified temperature limits.

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Key Segments -
The concrete work market covered in this report is segmented -
1) By Type: Dry Or Semi-Dry Concrete, Wet Concrete
2) By Construction Type: Elemental Constructions, Permanent Modular Building, Relocatable Buildings
3) By Application: Structural Building Components, Architectural Building Components, Transportation Products, Waste And Waste Handling Products, Other Applications
4) By End-Use Industry: Residential, Non-Residential

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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