Precast Concrete Market Size Worth UUSD 232.93 billion 2032 and CAGR of 6.5%| Companies- Boral, Holcim Ltd, Gulf Precast and others

The global precast concrete market size is expected to gain momentum and touch USD 232.93 billion by 2032 on account of the increasing urbanization and a rise in the number of construction activities worldwide. Precast concretes mean mold in the reusable form which can be used to provide a superior level of resistance to insects and mold, or natural disasters, or in case of fires. Unlike other building material, precast concrete is resistant to termites, requires low maintenance, and meager insurance costs.

As per a report by Fortune Business Insights, titled, "Precast Concrete Market Size, Share & Industry Analysis, By Product Type (Building Components, Transportation, Water & Waste Handling, and Others), By End-Use (Residential, and Non-Residential), and Regional Forecast, 2024-2032," The global precast concrete market was valued at USD 133.84 billion in 2023 and is expected to grow from USD 141.01 billion in 2024 to USD 232.93 billion by 2032, with a compound annual growth rate (CAGR) of 6.5% during the forecast period from 2024 to 2032.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐚 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅- https://www.fortunebusinessinsights.com/enquiry/sample/precast-concrete-market-103301

𝐒𝐨𝐦𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐟𝐨𝐫 𝐏𝐫𝐞𝐜𝐚𝐬𝐭 𝐂𝐨𝐧𝐜𝐫𝐞𝐭𝐞 𝐢𝐧𝐜𝐥𝐮𝐝𝐞:

▶ Oldcastle Precast (U.S.)

▶ Balfour Beatty(U.K.)

▶ Bouygues Construction(France)

▶ Elementbau Osthessen GmbH & Co., ELO KG (Germany)

▶ Spancrete (U.S.)

▶ Tindall Corporation (U.S.)

▶ Forterra (U.S.)

▶ CEMEX (Mexico)

▶ Larson & Turbo Limited (India)

▶ Olson Precast Company (U.S.)

▶ Gulf Precast (UAE)

▶ LafargeHolcim (Switzerland)

▶ Boral (Australia)

▶ Other players

The whole world is facing the widespread pandemic of coronavirus and trying to deal with it by staying safe at homes. However, the extended lockdown period has impacted many businesses, most of which are currently at a halt. International trade halt has adversely affected most companies. The COVID-19 has impacted the whole economy at a global level, but we hope to come out of this situation soon with government support and measures.

Fortune Business Insights is offering special reports based on various markets and the impact that COVID-19 has on them. These reports are thoroughly studied for the benefit of investors to chalk out strategies for better revenue generation in the future.

𝐓𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐀𝐧𝐬𝐰𝐞𝐫𝐬 𝐭𝐡𝐞 𝐅𝐨𝐥𝐥𝐨𝐰𝐢𝐧𝐠 𝐐𝐮𝐞𝐫𝐢𝐞𝐬:

▶ What is the nature of the market?
Who are the key players of the market for precast concrete, and what is their strategy?
▶ How will urbanization contribute to the growth of the market?
▶ What are the recent industry developments in this market?

𝐆𝐞𝐭 𝐚 𝐐𝐮𝐨𝐭𝐞- https://www.fortunebusinessinsights.com/enquiry/get-a-quote/precast-concrete-market-103301

𝐃𝐫𝐢𝐯𝐞𝐫𝐬 & 𝐑𝐞𝐬𝐭𝐫𝐚𝐢𝐧𝐭𝐬-

Increasing Demand for Commercial and Residential Spaces to Propel Growth

Increasing population, growing industries and businesses, and the rising need for residential and commercial spaces are the key factors promoting the precast concrete market growth. In addition to this, rapid urbanization and industrialization have propelled the demand for construction activities. This has led to a rise in the expenditure for construction activities, thereby augmenting growth.

On the contrary, certain drawbacks may pull down this market in the future. These include the environmental and health concerns concerning cement manufacturing. It is believed that cement production releases many gases such as sulfur dioxide, carbon monoxide, and nitrogen oxide into the atmosphere. This may result in numerous environmental impacts such as global warming, depletion in the quality of water, and acid rain, among others. Besides this, there are several health issues such as visual impairment, asthma, and various cardiovascular diseases that may cause hindrance to the overall market in the coming years.

𝐒𝐞𝐠𝐦𝐞𝐧𝐭:

Building Components Segment Earned Major Share Attributed to Utilization in Construction Projects

Based on segmentation by product type, the building components segment gained the largest precast concrete market share. Growth of this segment is attributable to the increasing demand for cost-efficient quality houses at affordable prices that propelled a rise in the number of construction projects.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬-

Asia Pacific to Emerge Dominant on Account of Rising Investments in Infrastructural Development

Geographically, Asia Pacific earned a revenue of USD 46.97 billion in the year 2019 and received the largest precast concrete market share. This is attributable to the increasing investments on infrastructural development by emerging nations such as India, China, and Japan in the forecast duration that will propel the demand for precast concrete in the regional market. Europe ranks second on account of the increasing use of precast concrete products for commercial and industrial construction projects.

𝐑𝐞𝐚𝐝 𝐌𝐨𝐫𝐞 𝐈𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧- https://www.fortunebusinessinsights.com/precast-concrete-market-103301

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐋𝐚𝐧𝐝𝐬𝐜𝐚𝐩𝐞-

Players Focusing on Geographical Expansion for Gaining Significant Position in Market

The global market for precast concrete is fragmented as the number of players is many. Some of them are investing heavily on material supply and other partnership strategies to gain a competitive edge in the market. Others are planning on expanding their brand presence geographically to draw significant revenues to the market.

Major Industry Developments of the Market for Precast Concrete Include:

January 2019 - Alfons Greten Betonwerk was acquired by Lafarge Holcim for operating collaboratively on one ready-mix and one precast concrete plant located in Germany. This effort is expected to help increase its brand presence in the nation.

April 2017 - The Caissons of maritime infrastructure by Bouygues Construction was pre-casted for the Monaco offshore extension project located in Marseille. This will help to serve as the new base for offshore extensions.

𝐑𝐞𝐥𝐚𝐭𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬-

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This release was published on openPR.