Precast Concrete Market Will Reach USD 62.83 BN by 2024: Value Market Research

Posted On September 06, 2018

The 2018 edition of the Global Precast Concrete Market report expects the industry to grow at CAGR of 3.50% and reach USD 62.83 Bn (by revenue) by 2024.The market was evaluated to be close to USD 49.85 Bn in the year 2017.The speedy growth of the construction industry with a pressure to reduce the building time has pushed the global precast concrete market on a gushing growth. Concrete is casted in a mold not necessarily at the construction site, which has eased out the complex process which was being followed since ages. Construction is quicker, cleaner, safer, cost efficient and more durable due to the use of precast concrete.

This Global Precast Concrete Report segments the market by structures, by construction market, by product, by application and by region. The pre -stressed concrete occupied the highest market share of close to 45% by structure in 2017. It is known to be more durable with high tensile strength and is common in commercial constructions (school auditoriums, cafeterias, hotels, malls, gyms, parking garages etc.). Pre-stressing of concrete eliminates various design limitations related to span and load. It facilitates easy building of roofs, floors, bridges, and walls with longer unsupported spans. The report segments the market by structure as pre - stressed concrete, sandwich wall (Insulated Double-Wall) panels and others.

The report "Global Precast Concrete Market Report By Structures (Pre-stressed Concrete, Sandwich Wall, Others), Construction (Non-residential building, Non-building, Residential, Agricultural), Products (Structural Building Components, Architectural Building Components, Transportation Products), Applications (Structural Components, Bridge Components, Architectural Cladding) And By Regions - Industry Trends, Size, Share, Growth, Estimation and Forecast, 2017-2024" by Value Market Research elaborates on the anticipated growth path of the Precast Concrete Industry.

The precast concrete market is segmented by construction into Non-residential building, Non -building, Residential and Agriculture. Non-Residential building comprises of industrial, commercial, educational buildings among many others. The non-residential building captures 33 % market share leading the construction segment in the year 2017. It is anticipated to continue leading in the next six years.

High Scale infrastructural activities powered by Government of various developing countries opens up a huge scope for the high demand of precast concrete products. The rising urban population along with industrialization across the globe is expected to drive the precast concrete market. Owing to the superior quality along with application and usage ease the worldwide precast concrete market beholds lot of opportunities.

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Report Segments of the Precast Concrete Market as -

By Structures

  •     Prestressed Concrete

  •     Sandwich Wall (Insulated Double-Wall) Panels

  •     Others

By Construction Market

  •     Nonresidential building

  •     Non-building

  •     Residential

  •     Agricultural

By Product

  •     Structural Building Components

  •     Architectural Building Components

  •     Transportation Products

  •     Water & Waste Handling Products

  •     Utility Products

  •     Cemetery Products

  •     Other Precast Concrete Products

By Application

  •     Structural Components

  •     Bridge Components

  •     Architectural Cladding

By Geography

  •     North America (NA)

  •     Europe (EU)

  •     Asia Pacific (APAC)

  •     Latin America (LA)   

  •     Middle East And Africa (MEA)   

The key players profiled in the report are:

  •     Oldcastle Precast

  •     Coreslab International

  •     Metromont

  •     CEMEX SAB de CV

  •     CRH Plc.

  •     Coltman Precast Concrete

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