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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Robust Growth of Construction Sector Aiding the Precast Concrete Industry
The robust growth of the construction sector owing to the rapid urbanisation and exponential population spurge is aiding the precast concrete industry. Moreover, the rising residential construction in the developing countries due to increasing per-capita income and favourable government policies is catalysing the market growth. As the demand for affordable housing increases, precast concrete is increasingly used to produce a large number of identical components, therefore lubricating the market growth. Precast concretes also offer high flexibility and precision, which aids in the creation of aesthetically pleasing and diverse production, which is consequently fuelling the market growth. It also reduces the construction time and skilled labour cost; hence, they are increasingly used in affordable construction, which is further accelerating the industry growth.
As precast concrete is made in a controlled environment, it is easier to control and monitor its quality, which is increasing its demand in the infrastructure sector and further catalysing the market growth. It also eliminates the demand for favourable weather conditions in the construction industry, therefore providing further impetus to the industry growth. Additionally, it reduces noise and dust pollution, and the use of technology in the production of precast concrete allows optimal utilisation of materials, such as cement, water, and construction steel; hence produces minimum waste output while providing an eco-friendly alternative, which is further augmenting the market growth.
Precast Concrete Market Report Snapshots
Precast Concrete Market Growth
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global precast concrete market attained a value of nearly USD 109.98 billion.
The market is projected to grow at a CAGR of 5.0% between 2024 and 2032.
The market is being driven by the growth of construction and infrastructure industries, increasing per-capita income, and the favourable policies of various governments.
The key trends of the market include the increasing renovation activities and the growing use of precast concretes for fire and wind resistance.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major products of precast concrete in the market are structural building components, architectural building components, transportation products, and water and waste handling products, among others.
The significant end uses in the market are residential, non-residential, and infrastructure.
The key players in the global precast concrete market are Boral Ltd., Gulf Precast Concrete Co. LLC, Olson Precast Company, Teemage Builders Pvt Ltd., and Forterra Inc., among others.
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Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124