Precast Concrete Market to hit USD 148.62 Billion by 2029 at a CAGR of 5.2 percent: Growth Hubs, Technological Advancements and Investment Opportunities

December 07 02:50 2022
Precast Concrete Market to hit USD 148.62 Billion by 2029 at a CAGR of 5.2 percent: Growth Hubs, Technological Advancements and Investment Opportunities
Precast Concrete Market
Precast Concrete Market was valued at USD 99.07 Billion in 2021, and it is expected to reach USD 148.62 Billion by 2029, exhibiting a CAGR of 5.2 % during the forecast period (2022-2029)

Pune, 6, Dec2022: Maximize Market Research is a leading material and chemical research firm that has delivered a detailed analysis of the Precast Concrete Market The report includes key business insights, demand analysis, pricing analysis and competitive landscape. The report expects the market to grow from USD 99.07 Billion in 2021 to USD 148.62 Billion by 2029 at a CAGR of 5.2 percent during the forecast period from 2022 to 2029. 

Precast Concrete Market Scope and Research Methodology

The report is an analysis of the Precast Concrete Market by region, segment and competitive landscape. For a thorough understanding of the global factors affecting the Precast Concrete Market, the report presents drivers, challenges, restraints and opportunities prevailing in the Precast Concrete Market. Key insights such as the market share and market presentation are presented in the report with the help of easy-to-understand figures and tables. The report covers the current trends prevailing in the market along with estimations about future trends to help understand investors identify investment pockets and opportunities in the Precast Concrete Market.

The report is equipped with a competitive analysis of the Precast Concrete Market. Key players and new entrants in the Precast Concrete Market are listed together. These are analysed by region, revenue, financial status, portfolio, technological advancements adopted, social media presence, mergers and acquisitions, joint ventures and strategic alliances. The analysis aids new entrants understand the Precast Concrete Market for growth prospects and future business outlooks. A detailed study is also conducted on various government schemes, policies and subsidies that make the Precast Concrete Market a lucrative option with growth opportunities.

The bottom-up approach was employed to validate the market size in terms of value and volume by different segments of the product. Data was collected using both primary and secondary data collection methods. Surveys, administering questionnaires and telephonic interviews with industry specialists, market leaders, entrepreneurs and marketing professionals were included in the primary methods. Secondary data was collected from a list of sources for maximum reliability of the inferences. This includes official databases of various organisations and government sites, industry journals, white papers, annual reports, releases of product manufacturers and suppliers in the industry along with paid databases.

Porter’s Five Forces analysis provides a deeper understanding of the industry to tweak your strategy according to the current market scenario, increase the profit margin and stay a step ahead of the competitors in the market. The five forces that were analysed in the market include the competitive landscape, supply and demand side of the market with the degree of power held by them, threat to entry and threat of substitution. SWOT analysis was conducted to provide the strengths and weaknesses of the Precast Concrete Market while PESTLE was employed to understand the potential impact of the micro-economic factors affecting the Precast Concrete Market. Such analysis presents relevant information required for strategic business planning, product development and workforce planning. Thus the report provides a detailed overview of the Precast Concrete Market.

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Precast Concrete Market Overview

Precast concrete is concrete that is cast offsite or at the place it will be used later. In other words, the concrete is cast in reusable moulds which are then cured usually in a factor with controlled settings. Given the controlled environment in which the concrete is cast, it gives the manufacturers the ability to control the mix, placement and curing. The components of the piece are divided which are then reinforced using bars or high-strength tensile. This reduces time construction time since the elements are pre-made.

Precast Concrete Market Dynamics

Precast Concrete provides several advantages over traditional methods. It offers enhanced quality and a reduction in time. Given the quick drying quality of precast concrete, it cuts the building time by one-third. It also saves the number of effort required, thereby helping cut labour costs. Precast Concrete also offers better greater durability. Such qualities are expected to drive the Precast Concrete Market over the forecast period.

Growth in prefabrication or offsite construction is also expected to drive the growth of the Precast Concrete Market during the forecast period. Offsite construction refers to constructing structures and then moving the assembly to the construction site. This considerably saves time and helps reduce waste during construction.

However, the Precast Concrete industry requires gears, mould, highly skilled labour and complex technology. Massive investment is needed for the set-up of such an industry. These actors are expected to restrain the growth of the Precast Concrete Market.

Precast Concrete Market Regional Insights

Over the forecast period, the Asia-Pacific region is expected to witness significant growth. Growth is due to reasons such as skilled labour and the availability of land. Compared to the developed nations which are witnessing slower growth, the Asia-Pacific is expected to have consistent economic growth. This growth is expected to boost regional industries such as the construction industry. Governments are increasing expenditures on infrastructure development. This will not only aid the growth of the construction industry but will also lead to research and innovation. Advancements in Precast Concrete are expected to drive the regional market.

Precast Concrete Market Segmentation: 

By Product:

  • Structural Building Components
  • Architectural Building Components
  • Transportation Products
  • Waste & Water Handling Products
  • Others

By Application: 

  • Residential
  • Commercial
  • Infrastructure
  • Industrial

Precast Concrete Market Key Competitors include: 

  • Kiewit Corporation
  • Komatsu Ltd
  • Laing O’Rourke
  • ACS Group
  • Balfour Beatty plc
  • Bouygues Construction
  • Julius Berger Nigeria Plc
  • Larsen & Toubro Limited
  • Red Sea Housing Services
  • Taisei Corporation
  • LafargeHolcim
  • Elematic
  • Cemex
  • Julius Berger Nigeria
  • Coreslab
  • Bouygues Construction
  • Balfour Beatty
  • Skanska
  • Laing O’Rourke
  • Bison Manufacturing
  • Coltman Precast Concrete
  • Weckenmann
  • Atco Group

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Key questions answered in the Precast Concrete Market are: 

  • What is Precast Concrete Market? 
  • What is the current growth rate of the Precast Concrete Market?  
  • What is the growth rate of Precast Concrete Market for the forecast period? 
  • What is the nature of competition in Precast Concrete industry in developed and developing economies? 
  • Who are the key players in the Precast Concrete Market?
  • Who are the market leaders in Precast Concrete in Europe?
  • Who are the market leaders in Precast Concrete in USA and Canada?
  • Who are the market leaders in Precast Concrete in India, China, Japan and South Korea?
  • What are the factors affecting growth in the Precast Concrete Market? 
  • Who held the largest market share in Precast Concrete Market? 
  • What are the factors for the growth of Asia-Pacific region in Precast Concrete Market?

Key Offerings:

  • Market Share, Size & Forecast by Revenue | 2022−2029
  • Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
  • Market Segmentation – A detailed analysis by Product, Application and Region
  • Competitive Landscape – Top Key Vendors and Other Prominent Vendors

Maximize Market Research is leading material and chemical research firm, has also published the following reports:

Polished Concrete Market –The Polished Concrete Market size is expected to reach USD 3.48 billion by 2029 at a CAGR of 5.5 percent during the forecast period. The Polished Concrete Market is expected to be driven by increasing demand for flooring of commercial sites and changing consumer preferences towards aesthetics. 

Concrete Admixture Market –The Concrete Admixture Market size is expected to reach USD 22.38 billion by 2029 at a CAGR of 6.6 percent during the forecast period. The Concrete Admixture Market is expected to be driven by 

About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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