The global precast
concrete market size is expected to reach USD 130.11 billion by
2025, according to a report by Grand View Research, Inc., registering a CAGR of
6.1% during the forecast period. Rapid urbanization and population explosion
have triggered real estate development in emerging countries such as China,
India, Brazil, Malaysia, and South Africa, which, in turn, is anticipated to
drive the market over the forecast period.
Precast concrete is an advanced building material and
practical solution for fast construction. Precast construction in comparison to
conventional construction requires less time and resources. Additionally,
precast construction is eco-friendly as it emits very less CO2 in
the environment compared to normal concrete construction.
Structural building components are anticipated to form
the fastest-growing segment owing to their extensive use in various
constructions. Short construction span offered by the product is the main
growth driver for this segment.
Governments around the globe are planning to provide
affordable housing to those falling under middle and lower class, which is
anticipated to further boost residential construction. Increasing urbanization
has resulted in creating global demand for better transportation systems. As
countries develop plans to meet this soaring demand, the transportation segment
is expected to register significant growth in the coming years, with majority
demand stemming from countries such as India and China.
Some of the major players are investing heavily in
research and development of new and improved products with high strength. Key
players are also investing in logistics as precast products require shipping to
construction sites.
Browse full research report on Precast Concrete Market: https://www.grandviewresearch.com/industry-analysis/precast-concrete-market
Further
key findings from the report suggest:
- The structural building components segment is anticipated to
register the fastest growth in terms of revenue, exhibiting a CAGR of 6.5%
over the forecast period. Cost and time savings offered by the type make
it attractive for use in most construction activities
- Residential is the largest end-use segment in the global market.
Push for affordable housing by governments across the globe is likely to
spur demand for precast concrete in this segment
- Asia Pacific is expected to be the largest as well as the
fastest-growing regional market, registering a CAGR of 8.1% over the
coming years. Rapidly growing population and mega infrastructure projects
by governments in the region are expected to boost market demand over the
forecast period
- Many major players have invested in research and development
activities to develop efficient and affordable products. Companies are
also focusing on expanding their businesses in developing countries.
Browse more reports of this category
by Grand View Research: https://www.grandviewresearch.com/industry/automotive-and-aerospace-interior-materials
Grand
View Research has segmented the global precast concrete market on the basis of
product type, end use, and region:
Precast
Concrete Product Type Outlook (Revenue, USD Billion, 2014 - 2025)
- Structural
Building Components
- Architectural
Building Components
- Transportation
Products
- Water &
Waste Handling Products
- Others
Precast
Concrete End-use Outlook (Revenue, USD Billion, 2014 - 2025)
- Residential
- Nonresidential
- Infrastructure
Precast
Concrete Regional Outlook (Revenue, USD Billion, 2014 - 2025)
- North America
- U.S.
- Europe
- Germany
- U.K.
- France
- Italy
- Asia Pacific
- China
- Japan
- India
- South Korea
- Central &
South America
- Brazil
- Middle East
& Africa
- Saudi Arabia
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and headquartered
in San Francisco. The company provides syndicated research reports,
customized research reports, and consulting services. To help clients make
informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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