Precast Concrete

Precast Concrete

Global Precast Concrete Market to Reach US$192.4 Billion by 2030

The global market for Precast Concrete estimated at US$117.0 Billion in the year 2023, is expected to reach US$192.4 Billion by 2030, growing at a CAGR of 7.4% over the analysis period 2023-2030. Precast Columns & Beams, one of the segments analyzed in the report, is expected to record a 7.8% CAGR and reach US$62.9 Billion by the end of the analysis period. Growth in the Precast Floors & Roofs segment is estimated at 6.6% CAGR over the analysis period.

The U.S. Market is Estimated at US$21.1 Billion While China is Forecast to Grow at 9.4% CAGR

The Precast Concrete market in the U.S. is estimated at US$21.1 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$58.7 Billion by the year 2030 trailing a CAGR of 9.4% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 5.2% and 5.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 5.4% CAGR.

Global Precast Concrete Market - Key Trends & Drivers Summarized

Precast concrete is a construction material produced by casting concrete in a reusable mold or form, which is then cured in a controlled environment and transported to the construction site for installation. This method offers several advantages over traditional cast-in-place concrete, including improved quality control, faster construction times, and reduced labor costs. Precast concrete components are used in a wide range of applications, including building facades, structural elements, bridges, and infrastructure projects. The versatility and durability of precast concrete make it a preferred choice for modern construction practices.

The adoption of precast concrete is driven by the need for efficient and sustainable construction methods. Precast components can be manufactured to precise specifications, ensuring high quality and uniformity. This reduces the likelihood of construction errors and enhances the overall structural integrity of the project. Additionally, the controlled manufacturing environment allows for the incorporation of advanced materials and technologies, such as high-performance concrete and embedded sensors, to improve the performance and longevity of the structures. Precast concrete also offers environmental benefits, as it generates less waste and allows for the use of recycled materials.

The growth in the precast concrete market is driven by several factors. Firstly, the increasing demand for efficient and cost-effective construction methods to meet the growing urbanization and infrastructure development is a major driver. Secondly, advancements in precast concrete technologies, such as high-performance concrete and integrated sensors, are enhancing the durability and performance of precast components. Thirdly, the rising emphasis on sustainability and green building practices is encouraging the use of precast concrete due to its reduced waste generation and ability to incorporate recycled materials. Additionally, the need for faster construction times and reduced labor costs is propelling the adoption of precast concrete. Lastly, the expansion of infrastructure projects, including transportation, utilities, and commercial buildings, is further driving the demand for precast concrete components.

Select Competitors (Total 91 Featured) -

• Boral Ltd.
• CRH PLC
• Cemex S.A.B. de C.V.
• Aggregate Industries Ltd.
• Contech Engineered Solutions LLC
• Balfour Beatty PLC
• Bouygues Construction
• Coltman Precast Concrete Limited
• Concrete Pipe and Precast LLC
• A.J. Foss, Inc.
• Bonna Sabla
• Capital Precast, Inc.
• Barro Group
• Elematic Oyj
• Balcrom Limited

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