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Type: PDF
Status: Syndicate
Categories: Advance Materials
Report Code : AM23
No. of Pages : 150
Precast concrete is done by casting concrete into a mold, which is preserved in controlled temperatures and then transferred to the construction sites. Precast concrete can differ based on their end use and can be molded into various sizes. They also produce low waste as compared to traditional concrete and offer a relatively safe platform for workers. Expanding construction sector along with the surging demand of high strength concrete is the major factor propelling the market growth.
The global precast concrete Market in 2023 was approximately USD 131 Billion. The market is expected to grow at a CAGR of 7.7% and is anticipated to reach around USD 175 Billion by 2030. Rising global population leading to surging demand of construction of residential buildings is also projected to boost the market growth in the forecast period. In addition, rapid urbanization along with the increase in infrastructural spending in developing nations is presumed to foster the market growth in the following years.
Owing to advantages of precast concrete such as cost and time efficient construction is propelling the market growth. However, heavy cost of precast concrete, specifically for small projects might hamper the market growth. The rise in technological innovations in designing the products for better quality, ease of use and better performance is expected to continue to intensify the level of competition among the companies to expand their product portfolios by incorporating innovative features, into their product.
Key players in the market are Actividades De Construccion Y Servicios, S.A., Bouygues Construction, Cemex, Balfour Beatty PLC, Laing O’Rourke, Larsen & Toubro Limited, Taisei Corporation, Skanska Ab, CRH PLC, Julius Berger Nigeria PLC, Red Sea Housing Services, Atco Group, Vinci, Kiewit Corporation, Oldcastle Precast, Komatsu Ltd, Modular Space Corporation, KEF Infrastructure India, Preca Solutions India, Nanaimo Precast, Coreslab Structures, Coltman Precast Concrete Ltd, Metromont Corporation, Styl-Comp Group, Smeet Precast and Others.
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