Precast Construction Market Overview
According to a research survey conducted by ChemView Consulting, the current valuation of the Global Precast Construction Market is worth US$ 1,48,970.0 Mn in 2022. The market value of Precast Construction is expected to reach US$ 2,47,318.3 Mn by the year 2032, growing at a CAGR of 5.2% over the forecast period.
The Precast Construction market is rapidly expanding due to the growing demand for Precast Construction due to rising construction investment, urbanization, and industrialization in developing nations, an increase in the need for affordable housing, improved productivity and efficiency from precast processes, and faster construction due to precast technology.
ChemView Consulting has analyzed that Precast Construction seeks significant demand from the Growing Urbanization and Industrialization, positively influencing the market growth. Increasing Precast production in regions such as the Middle East, Asia Pacific, and Latin America has risen dramatically in Precast Construction demand.
The main factors contributing to increased Precast Construction are growing as a result of increased remodeling, refurbishing, and renovation of ancient buildings, which also boosts investments in the building and construction sector.
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Segments Covered in Report
By Product:
- Structural Building Components
- Architectural Building Components
- Transportation Products
- Water & Waste Handling Products
- Others
By Structure System:
- Beam and Column System
- Floor and Roof System
- Bearing Wall System
- Facade System
By End Use:
- Residential
- Non-Residential
- Infrastructure
By Region and Country:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
- Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
- Africa (South Africa, Nigeria, Egypt, Rest of Africa)
Key Takeaways from the Precast Construction Market
- Based on the end-user, the Residential segment is expected to cite the fastest CAGR of 6.5% from 2022 to 2032. The market for this construction method is projected to grow Fastly than the non-residential sector due to increasing awareness among consumers in the housing market. In some developing or underdeveloped countries in Asia Pacific, Africa, and South America, people are becoming aware of precast concrete as a construction method.
- Based on the Structure System, the columns & beams product segment will dominate at a significant CAGR of 7.8% during 2022-2032. These Precast Columns & Beams are used in residential and non-residential construction sites, road construction sites, security installations, highways, coastal barriers, outdoor concerts, or in any other event that uses a Column & Beams that can be set up and removed quickly.
- Asia-Pacific is projected to dominate the Precast Construction Market with a market share of 9% during the forecast period due to high consumption from the region’s stringent end-use industries and enormous Precast Construction production rate.
Competition Summary
Key companies covered in the market study are CRH plc, Bouygues Construction, Larsen & Toubro Limited, Taisei Corporation, Balfour Beatty plc, Kiewit Corporation, Laing O’Rourke, Julius Berger Nigeria Plc, Red Sea Housing Services, ACS Group, Elematic, LafargeHolcim, Coltman Precast Concrete Limited, and Cemex S.A.B. de C.V.
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Report Key Highlights
- Detailed information on factors that will assist Global Precast Construction’s growth during the next ten years
- Assessment of the historical and current Global Precast Construction Market size (2017-2021), market projections (2022-2032), and its contribution to the parent market
- The growth of the market across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa
- Segment-wise, country-wise, and region-wise market analysis
- Key drivers, restraints, opportunities, and key emerging trends impacting market growth
- Predictions on critical supply, demand, and technological trends and changes in consumer behavior
- Value chain analysis (list of manufacturers, distributors, end-users, average profitability margins, etc.)
- Competition mapping, market share analysis, key strategies adopted by top players, and competitive tactical intelligence
- Covid-19 impact on the market and how to navigate
- Strategic market analysis and recommendations on crucial winning strategies
About ChemView Consulting
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