(MENAFN- Ameliorate Digital Consultancy) The global market for Precast Concrete estimated at USD 130.30 Billion in 2022, is projected to reach a revised size of USD 207.40 Billion by 2029 registering a compounded annual growth rate (CAGR) of 5.3% over the period 2023-2029.
The Latest Report Research Exactitude Consultancy published a report titled precast concrete Market which offers a detailed description of the market trends, growth drivers, opportunities, and the challenges associated with the growth of the market in the forthcoming years. The report gives an actionable market insight to the clients/vendors with which sustainable and profitable business strategies can be created. This Report Precast Concrete Market by researchers gives an insight into the trending modern situation and the future growth of the industry for the length of 2023-2029. This analysis can help you expand your business by targeting qualified niche markets.
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Competitive Assessment:
The main research methodology applied here by the research team is data triangulation, which includes data mining, analysis of the impact of data variables on the market, and primary (industry experts) validation. This report helps to gather information about all the above factors by providing actionable market insights and comprehensive analysis. The Precast Concrete market report mainly focuses on important aspects of the market which include historical data, current market trends, environment, technological innovations, upcoming technologies, and technological advancement in the industry among others.
Partnerships, Collaborations, and Agreements
On December 2020, ALLPLAN (Germany), a global provider of BIM solutions for the AEC industry, and Precast Software Engineering (Austria), announced a partnership to strengthen their delivery capabilities in the engineering and construction market.
Mergers and Acquisitions
On January 2021, LafargeHolcim entered into an agreement to acquire Firestone Building Products from Bridgestone Americas for USD 3.4 billion. On July 2021, Forterra Inc., acquired the business of Barbour Concrete Company & Barbour Building Systems.
Leading market players in the Precast Concrete market is focusing on strategies such as expansion, new product launches, and acquisitions to gain large market share and enhance their global presence in the target market. Some Key Competitors of the Precast Concrete market is Cemex S.A.B de C.V., LafargeHolcim Ltd, Skanska AB, CRH PLC, Balfour Beatty PLC, Laing O'Rourke, Oldcastle Infrastructure Inc., Atco Concrete Products N.V., Forterra, Tindall Corporation, ELO Beton, Boral Limited, Gulf Precast Concrete Co. LLC. and others.
Precast Concrete Market Segmentation:
Precast Concrete Market by Structure System Component, 2023-2029, (USD Million)
Beam & Column System Bearing Wall System Façade System Floor & Roof System
Precast Concrete Market by Deployment Element, 2023-2029, (USD Million), Columns & Beams
Floors & Roofs Walls & Barriers Girders Pipes Paving Slabs Utility Vaults Others (Include Staircases, Lintels, Manholes, Door & Window Components, And Water & Sewer System Products)
Precast Concrete Market by Construction Type, 2023-2029, (USD Million)
Elemental Construction Permanent Modular Buildings Relocatable Buildings
Precast Concrete Market by End-Use Industry, 2023-2029, (USD Million)
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Regional Framework
“Trend of DIY Home Renovations and Remodelling to Drive the Sales of Precast Concrete Blocks and Wall Panels”
According to FMI, North America is expected to account for over 13.9% of demand share in the global precast concrete market. Increasing construction activities in the U.S. and growing trend of remodelling and reconstructing old historical establishment will facilitate the growth.
Further, the demand for precast concrete is projected to rise on the back of favourable policies regarding the use of eco-friendly and advanced materials in infrastructure and construction projects.
⇨ North America (United States, Canada, and Mexico)
⇨ Europe (Germany, France, UK, Russia, and Italy)
⇨ Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
⇨ South America (Brazil, Argentina, Colombia, etc.)
⇨ The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
Key Trends Favouring the Growth in Precast Concrete Market
“Rising Work-Zone Safety Concerns to Boost the Sales of Precast Concrete Pavers and Slabs”
Increasing development of commercial infrastructure across the globe is propelling the demand for cost-effective raw materials such as precast concrete slabs, pavers, blocks, and others. However, with rising incidence of accidents on-site due to the use of cheap raw materials, end users are increasing the use of natural raw materials.
“Increasing Renovation and Remodelling Projects to Propel the Precast Concrete Sales”
With ongoing development in industrial and commercial infrastructure, governments in several countries are actively investing in multiple projects. Governments, especially in emerging economies, are focusing on building smart cities and commercial infrastructures.
For instance, the Government of India tendered 6917 projects and completed over 3566 projects in its smart cities mission for the development of modern infrastructure and commercial spaces. The government invested over US$ 7.8 billion for these smart city's projects, according to the Ministry of Housing and Urban Affairs.
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The Study Objectives are:
✔ An in-depth look at the key players in the Precast Concrete market, as well as the data that goes with them.
✔ It includes a product portfolio, annual revenue, research and development spending, geographic presence, recent key developments, and growth strategies.
✔ Regional analysis, which includes information on the dominant Precast Concrete market and its share of the market.
✔ It also includes various socioeconomic factors that influence the market's evolution in the region.
✔ The report provides a detailed look at various members of the value chain, including raw material suppliers, distributors, and stockholders.
Key questions answered in the report:
✦ What is the Precast Concrete market's growth potential?
✦ Which product category will be the most profitable?
✦ In the coming years, which regional market will emerge as a leader?
✦ Which application segment will continue to expand at a steady rate?
✦ What are the potential growth opportunities in the Precast Concrete Market in the coming years?
✦ What are the most significant challenges that the global Precast Concrete Markets may face in the future?
✦ What are the top companies in the global Precast Concrete market?
✦ What are the main trends that are positively impacting the market's growth?
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