Precast Construction Market Forecasts to 2028 – Global Analysis by Product (Paving Slabs, Columns & Beams, Floors & Roofs, Other Products), Construction Type (Manufactured Homes, Modular Construction), End User (Residential, Non-residential), and By Geogr

Precast Construction Market Forecasts to 2028 – Global Analysis by Product (Paving Slabs, Columns & Beams, Floors & Roofs, Other Products), Construction Type (Manufactured Homes, Modular Construction), End User (Residential, Non-residential), and By Geography

According to Stratistics MRC, the Global Precast Construction Market is accounted for $148697.9 million in 2022 and is expected to reach $221907.0 million by 2028 growing at a CAGR of 6.9% during the forecast period. Precast construction is the process of casting concrete in a reusable mould or form, curing it in a controlled setting, and then transporting it to the job site for installation. For architectural applications, various precast construction system types are used. They vary in terms of size, purpose, and cost. Utilizing precast parts renders obsolete the necessity for traditional formworks. Precast components help reduce the quantity of waste produced and control other environmental risks. They additionally give workers a secure workspace.

According to the India Brand Equity Foundation (IBEF), in April 2022, the infrastructure sector had become the government of India's primary focus. India intends to spend $1.4 trillion on infrastructure between 2019 and 2023 to ensure the country's long-term development. Therefore, the increase in infrastructure and construction is leading to a growth in urbanization and industrialization, which drives the precast construction market.

Market Dynamics:

Driver:

Growth of Building and Construction Industry

The development of different government-sponsored welfare housing programmes has increased investment in the building and construction sector. The demand for precast construction has also been driven by an increase in disposable income and an increase in home purchases. Precast construction demand has increased as a result of increased investments in the building and construction sector and the rebuilding, repairing, and renovation of historic buildings. Investments in the building and construction sector have increased as a result of low house interest rates. During the anticipated term, this is also anticipated to drive the precast construction industry.

Restraint:

Prone to sudden price fluctuations

Unexpected price changes are common in the precast construction business. The market's ability to make money is impacted by price changes. Cement, sand, and aggregates are necessary ingredients for producing precast construction components. These products' transportation, production, and consumption costs are very volatile. The variations in raw material prices serve as a recalibrating element for market revenue. Another factor impeding market expansion is the fluctuating price of crude oil and the fuel used to transport precast material. Even the market demand throughout the predicted period may be impacted by this opposition.

Opportunity:

Reduced Construction Time and Better Structural Properties

Construction projects are subject to significant risks due to technological and organisational complexity, which can result in cost overruns and delays. Compared to traditional construction techniques, precast construction significantly reduces construction time. Additionally, it assists in preserving crucial lead time and lowers the possibility of project delays or financial losses. In a factory setting, crucial variables like temperature, mix design, and stripping time are tracked and managed as precast components are created. Products are given excellent quality and aesthetic value by a factory-controlled prefabrication environment and without the need for rectification work, which increases their demand.

Threat:

High Dependence on Transportation

The ability to transport the products is crucial to the precast construction industry. It is difficult to carry them to the installation site without these transportation methods. Additional costs in the market include labour costs, fuel costs, handling fees, and warehouse costs. Additionally, these expenses raise the price of the precast construction item overall. These fees are also quite unstable for the market. As a result, the demand may eventually fall, making it a considerable challenge.

Covid-19 Impact:

Numerous international marketplaces have been impacted by the COVID 19 epidemic. During this pandemic, the precast construction business is expanding slowly. The market is also challenged by the declining rate of demand. Due to the virus spread, all construction projects around the world have been put on hold. The outlook for the worldwide market is being greatly impacted. Additionally, there is a shortage of raw materials on the market at this time. It has an impact on the market's manufacturing and production processes. A few issues that have a greater impact on the market are supply chain interruptions, trade restrictions, and declining demand in the building sector. But in the next years, the market will start producing again.

The modular constructions is expected to be the largest during the forecast period

The modular constructions segment is estimated to have a lucrative growth, due to prevalent customer desire for quick construction, superior quality, and quick return on investment, the modular constructions sector is projected to account for a sizable portion of the overall precast construction market shares throughout the forecast period. Additionally, the section of modular construction is concerned in constructing dwellings that are put together on a permanent basis.

The residential segment is expected to have the highest CAGR during the forecast period

Based on the end user, precast construction markets are divided into residential and non-residential segments. The residential market is anticipated to experience considerable CAGR growth. In this section, the majority of the building's construction is finished off-site and then transported to the final location. Due to its use in ornamental components, the residential segment is projected to have promising growth, which will favourably affect the expansion of the global precast construction market.

Region with highest share:

The largest market share for precast construction will be in the Asia-Pacific region. The key drivers of market expansion are the population growth rate and urbanization. In the Asia Pacific region, the building industry is expanding rapidly. New types of structures that are both affordable and efficient in terms of energy are needed. It increases the number of opportunities in the area. Precast construction technique is needed in the Asia Pacific region for both commercial and industrial purposes. For the infrastructure in this area, it is the best construction technique. The Asia Pacific area would experience the largest demand rate during the projection period.

Region with highest CAGR:

The market for precast building in North America is enormous. Throughout the forecast, this region's market will continue to rise significantly. Precast buildings have advantages over other building material technologies. Demand and market revenue in North America will increase as a result of the rising investments in this region. Over the forecast period, North America is anticipated to have the highest CAGR.

Key players in the market

Some of the key players in Precast Construction market China National Building Material Company Limited, Elematic Oyj, LafargeHolcim Ltd., Cemex S.A.B. de C.V., Larsen & Toubro Limited., CRH plc, Taisei Corporation, Coltman Precast Concrete Limited, Tindall Corporation., Bison Manufacturing Limited, Acs group , Balfour Beatty plc, Kiewit corporation, Julius Berger Nigeria plc, Laing orourke, Bouygues construction, Komatsu ltd.

Key Developments:

In May 2022, Smart World & Communication (SWC) business of L&T, a leading Indian multinational engaged in EPC Projects, Hi-Tech Manufacturing and Services and VMware Inc, a leading global provider of multi-cloud services have announced a strategic partnership to accelerate the adoption of digital infrastructure solutions.

In June 2020, Tindall Corporation launched a patented precast concrete slab system in the American marketplace. Tindall Superior Lightweight All-Purpose Beam (T-SLAB) offers superior performance and constructability over both cast-in-place and hollow-core in a single, completely precast solution. This is the first and only slab system of its kind in the country, expanding Tindall's capabilities to provide total precast projects across a wide spectrum of markets.

Products Covered:
• Paving Slabs
• Columns & Beams
• Floors & Roofs
• Walls
• Staircase
• Girders
• Lintels
• Other Products

Construction Types Covered:
• Manufactured Homes
• Modular Construction

End Users Covered:
• Residential
• Non-residential

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements


1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Precast Construction Market, By Product
5.1 Introduction
5.2 Paving Slabs
5.3 Columns & Beams
5.4 Floors & Roofs
5.5 Walls
5.6 Staircase
5.7 Girders
5.8 Lintels
5.9 Other Products
6 Global Precast Construction Market, By Construction Type
6.1 Introduction
6.2 Manufactured Homes
6.3 Modular Construction
7 Global Precast Construction Market, By End User
7.1 Introduction
7.2 Residential
7.3 Non-residential
8 Global Precast Construction Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa
9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies
10 Company Profiling
10.1 China National Building Material Company Limited
10.2 Elematic Oyj
10.3 LafargeHolcim Ltd.
10.4 Cemex S.A.B. de C.V.
10.5 Larsen & Toubro Limited.
10.6 CRH plc
10.7 Taisei Corporation
10.8 Coltman Precast Concrete Limited
10.9 Tindall Corporation.
10.10 Bison Manufacturing Limited
10.11 Acs group
10.12 Balfour beatty plc
10.13 Kiewit corporation
10.14 Julius berger nigeria plc
10.15 Laing orourke
10.16 Bouygues construction
10.17 Komatsu ltd
List of Tables
Table 1 Global Precast Construction Market Outlook, By Region (2020-2028) ($MN)
Table 2 Global Precast Construction Market Outlook, By Product (2020-2028) ($MN)
Table 3 Global Precast Construction Market Outlook, By Paving Slabs (2020-2028) ($MN)
Table 4 Global Precast Construction Market Outlook, By Columns & Beams (2020-2028) ($MN)
Table 5 Global Precast Construction Market Outlook, By Floors & Roofs (2020-2028) ($MN)
Table 6 Global Precast Construction Market Outlook, By Walls (2020-2028) ($MN)
Table 7 Global Precast Construction Market Outlook, By Staircase (2020-2028) ($MN)
Table 8 Global Precast Construction Market Outlook, By Girders (2020-2028) ($MN)
Table 9 Global Precast Construction Market Outlook, By Lintels (2020-2028) ($MN)
Table 10 Global Precast Construction Market Outlook, By Other Products (2020-2028) ($MN)
Table 11 Global Precast Construction Market Outlook, By Construction Type (2020-2028) ($MN)
Table 12 Global Precast Construction Market Outlook, By Manufactured Homes (2020-2028) ($MN)
Table 13 Global Precast Construction Market Outlook, By Modular Construction (2020-2028) ($MN)
Table 14 Global Precast Construction Market Outlook, By End User (2020-2028) ($MN)
Table 15 Global Precast Construction Market Outlook, By Residential (2020-2028) ($MN)
Table 16 Global Precast Construction Market Outlook, By Non-residential (2020-2028) ($MN)
Table 17 North America Precast Construction Market Outlook, By Country (2020-2028) ($MN)
Table 18 North America Precast Construction Market Outlook, By Product (2020-2028) ($MN)
Table 19 North America Precast Construction Market Outlook, By Paving Slabs (2020-2028) ($MN)
Table 20 North America Precast Construction Market Outlook, By Columns & Beams (2020-2028) ($MN)
Table 21 North America Precast Construction Market Outlook, By Floors & Roofs (2020-2028) ($MN)
Table 22 North America Precast Construction Market Outlook, By Walls (2020-2028) ($MN)
Table 23 North America Precast Construction Market Outlook, By Staircase (2020-2028) ($MN)
Table 24 North America Precast Construction Market Outlook, By Girders (2020-2028) ($MN)
Table 25 North America Precast Construction Market Outlook, By Lintels (2020-2028) ($MN)
Table 26 North America Precast Construction Market Outlook, By Other Products (2020-2028) ($MN)
Table 27 North America Precast Construction Market Outlook, By Construction Type (2020-2028) ($MN)
Table 28 North America Precast Construction Market Outlook, By Manufactured Homes (2020-2028) ($MN)
Table 29 North America Precast Construction Market Outlook, By Modular Construction (2020-2028) ($MN)
Table 30 North America Precast Construction Market Outlook, By End User (2020-2028) ($MN)
Table 31 North America Precast Construction Market Outlook, By Residential (2020-2028) ($MN)
Table 32 North America Precast Construction Market Outlook, By Non-residential (2020-2028) ($MN)
Table 33 Europe Precast Construction Market Outlook, By Country (2020-2028) ($MN)
Table 34 Europe Precast Construction Market Outlook, By Product (2020-2028) ($MN)
Table 35 Europe Precast Construction Market Outlook, By Paving Slabs (2020-2028) ($MN)
Table 36 Europe Precast Construction Market Outlook, By Columns & Beams (2020-2028) ($MN)
Table 37 Europe Precast Construction Market Outlook, By Floors & Roofs (2020-2028) ($MN)
Table 38 Europe Precast Construction Market Outlook, By Walls (2020-2028) ($MN)
Table 39 Europe Precast Construction Market Outlook, By Staircase (2020-2028) ($MN)
Table 40 Europe Precast Construction Market Outlook, By Girders (2020-2028) ($MN)
Table 41 Europe Precast Construction Market Outlook, By Lintels (2020-2028) ($MN)
Table 42 Europe Precast Construction Market Outlook, By Other Products (2020-2028) ($MN)
Table 43 Europe Precast Construction Market Outlook, By Construction Type (2020-2028) ($MN)
Table 44 Europe Precast Construction Market Outlook, By Manufactured Homes (2020-2028) ($MN)
Table 45 Europe Precast Construction Market Outlook, By Modular Construction (2020-2028) ($MN)
Table 46 Europe Precast Construction Market Outlook, By End User (2020-2028) ($MN)
Table 47 Europe Precast Construction Market Outlook, By Residential (2020-2028) ($MN)
Table 48 Europe Precast Construction Market Outlook, By Non-residential (2020-2028) ($MN)
Table 49 Asia Pacific Precast Construction Market Outlook, By Country (2020-2028) ($MN)
Table 50 Asia Pacific Precast Construction Market Outlook, By Product (2020-2028) ($MN)
Table 51 Asia Pacific Precast Construction Market Outlook, By Paving Slabs (2020-2028) ($MN)
Table 52 Asia Pacific Precast Construction Market Outlook, By Columns & Beams (2020-2028) ($MN)
Table 53 Asia Pacific Precast Construction Market Outlook, By Floors & Roofs (2020-2028) ($MN)
Table 54 Asia Pacific Precast Construction Market Outlook, By Walls (2020-2028) ($MN)
Table 55 Asia Pacific Precast Construction Market Outlook, By Staircase (2020-2028) ($MN)
Table 56 Asia Pacific Precast Construction Market Outlook, By Girders (2020-2028) ($MN)
Table 57 Asia Pacific Precast Construction Market Outlook, By Lintels (2020-2028) ($MN)
Table 58 Asia Pacific Precast Construction Market Outlook, By Other Products (2020-2028) ($MN)
Table 59 Asia Pacific Precast Construction Market Outlook, By Construction Type (2020-2028) ($MN)
Table 60 Asia Pacific Precast Construction Market Outlook, By Manufactured Homes (2020-2028) ($MN)
Table 61 Asia Pacific Precast Construction Market Outlook, By Modular Construction (2020-2028) ($MN)
Table 62 Asia Pacific Precast Construction Market Outlook, By End User (2020-2028) ($MN)
Table 63 Asia Pacific Precast Construction Market Outlook, By Residential (2020-2028) ($MN)
Table 64 Asia Pacific Precast Construction Market Outlook, By Non-residential (2020-2028) ($MN)
Table 65 South America Precast Construction Market Outlook, By Country (2020-2028) ($MN)
Table 66 South America Precast Construction Market Outlook, By Product (2020-2028) ($MN)
Table 67 South America Precast Construction Market Outlook, By Paving Slabs (2020-2028) ($MN)
Table 68 South America Precast Construction Market Outlook, By Columns & Beams (2020-2028) ($MN)
Table 69 South America Precast Construction Market Outlook, By Floors & Roofs (2020-2028) ($MN)
Table 70 South America Precast Construction Market Outlook, By Walls (2020-2028) ($MN)
Table 71 South America Precast Construction Market Outlook, By Staircase (2020-2028) ($MN)
Table 72 South America Precast Construction Market Outlook, By Girders (2020-2028) ($MN)
Table 73 South America Precast Construction Market Outlook, By Lintels (2020-2028) ($MN)
Table 74 South America Precast Construction Market Outlook, By Other Products (2020-2028) ($MN)
Table 75 South America Precast Construction Market Outlook, By Construction Type (2020-2028) ($MN)
Table 76 South America Precast Construction Market Outlook, By Manufactured Homes (2020-2028) ($MN)
Table 77 South America Precast Construction Market Outlook, By Modular Construction (2020-2028) ($MN)
Table 78 South America Precast Construction Market Outlook, By End User (2020-2028) ($MN)
Table 79 South America Precast Construction Market Outlook, By Residential (2020-2028) ($MN)
Table 80 South America Precast Construction Market Outlook, By Non-residential (2020-2028) ($MN)
Table 81 Middle East & Africa Precast Construction Market Outlook, By Country (2020-2028) ($MN)
Table 82 Middle East & Africa Precast Construction Market Outlook, By Product (2020-2028) ($MN)
Table 83 Middle East & Africa Precast Construction Market Outlook, By Paving Slabs (2020-2028) ($MN)
Table 84 Middle East & Africa Precast Construction Market Outlook, By Columns & Beams (2020-2028) ($MN)
Table 85 Middle East & Africa Precast Construction Market Outlook, By Floors & Roofs (2020-2028) ($MN)
Table 86 Middle East & Africa Precast Construction Market Outlook, By Walls (2020-2028) ($MN)
Table 87 Middle East & Africa Precast Construction Market Outlook, By Staircase (2020-2028) ($MN)
Table 88 Middle East & Africa Precast Construction Market Outlook, By Girders (2020-2028) ($MN)
Table 89 Middle East & Africa Precast Construction Market Outlook, By Lintels (2020-2028) ($MN)
Table 90 Middle East & Africa Precast Construction Market Outlook, By Other Products (2020-2028) ($MN)
Table 91 Middle East & Africa Precast Construction Market Outlook, By Construction Type (2020-2028) ($MN)
Table 92 Middle East & Africa Precast Construction Market Outlook, By Manufactured Homes (2020-2028) ($MN)
Table 93 Middle East & Africa Precast Construction Market Outlook, By Modular Construction (2020-2028) ($MN)
Table 94 Middle East & Africa Precast Construction Market Outlook, By End User (2020-2028) ($MN)
Table 95 Middle East & Africa Precast Construction Market Outlook, By Residential (2020-2028) ($MN)
Table 96 Middle East & Africa Precast Construction Market Outlook, By Non-residential (2020-2028) ($MN)

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