Asia-Pacific Precast Concrete Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Structure System (Beam and Column System, Floor and Roof System, Bearing Wall System, Façade System, and Others) and End use (Residential, Commercial, and Others)
The APAC precast concrete market is expected to grow from US$ 76,270.20 million in 2022 to US$ 1,23,589.51 million by 2028. It is estimated to grow at a CAGR of 8.4% from 2022 to 2028.
Supportive Government Initiatives is driving the growth of APAC Precast Concrete Market
Precast concrete is widely used in housing, factories, and leading national laboratories around the region to support government programs. In addition, precast construction is a cost-effective, fast, and environment-friendly building method for large housing projects that do not compromise quality. Housing crisis is one of the world's major issues today. Due to slum areas in several countries, the governments of various economies have taken certain initiatives by investing in infrastructure renewal. Several concrete additives, lifting accessories, and spare parts are not manufactured in India. If all of these products are produced in India, the investment cost will be significantly reduced, which will further propel the demand for precast concrete in the APAC precast concrete market . The supporting government initiatives will provide ample opportunities for the market players operating in the APAC precast concrete market.
APAC Precast Concrete Market Overview
The APAC comprises several developing and developed economies such as China, India, Japan, South Korea, Australia, among others. Countries like Australia, Japan, India, China, South Korea, Singapore, Taiwan, and Indonesia have large industries in a diverse sector such as construction, automotive, railways, and other industries. The manufacturing sector in these countries has experienced a huge shift over the years. The Asia Pacific manufacturing sector is highly adopting innovation accelerators which include advanced technologies & processes. Over the past decades, the manufacturing companies are spending of the region has grown significantly and is further anticipated to grow at the highest estimated growth rate.
APAC Precast Concrete Market Revenue and Forecast to 2028 (US$ Million)
APAC Precast Concrete Market Segmentation
The APAC precast concrete market is segmented into structure system, end use, and country.
Based on structure system, the APAC precast concrete market is segmented into beam and column system, floor and roof system, bearing wall system, façade system, and others segment. The beam and column system segment registered the largest market share in 2022.
Based on end use, the APAC precast concrete market is segmented into residential, commercial, and others. The commercial segment registered the largest market share in 2022.
Based on country, the APAC precast concrete market is segmented into Australia, Japan, South Korea, Indonesia, Taiwan, Thailand, Malaysia, Vietnam, Bangladesh, and the Rest of APAC. The Rest of APAC dominated the market share in 2022.
Betongindustri AB; Boral; CEMEX S.A.B. de C.V.; Centrum Pile Ltd.; Consolis; Forterra; and LafargeHolcim are the leading companies operating in the APAC precast concrete market.
Reasons to Buy
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Scrutinize in-depth APAC market trends and outlook coupled with the factors driving the precast concrete market, as well as those hindering it
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