Market Overview:

The global precast concrete market reached a value of US$ 115 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 158.2 Billion by 2027, exhibiting a CAGR of 5.4% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.      

Precast concrete is produced by preparing, casting, and curing the concrete using a reusable mold in a controlled environment. The casted concrete is then transported to the construction site, where it is used for structural components like wall panels, tunnels, floors, beams, columns, pipes, girders and staircases. The precast structural elements are more economical and practical in nature compared to in-situ concrete. Precast concrete components can be bolted together by embedding steel connectors in the concrete at the time of casting. They offer dimensional accuracy and a choice of developing unique and breakthrough constructions of exceptional quality. As a result, precast concrete is generally used for building affordable projects with identical structures. It also provides the advantage of planning for future construction projects as the components can be rearranged easily.

Precast Concrete Market Trends:

The global precast concrete market is primarily driven by rapid urbanization and the growing demand for residential and commercial spaces. With the rising environmental concerns, precast concrete is being increasingly used to construct buildings, bridges, and stadiums as it can be recycled and reused, which helps in minimizing the impact of raw materials on the environment. Besides this, governments across the globe are investing in infrastructural development projects, which is providing a positive outlook to the market. They are also undertaking various initiatives for the employment of precast concrete as it significantly reduces the overall project timeline and generates savings in raw material and labor costs.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global precast concrete market report, along with forecasts for growth at the global and regional level from 2022-2027. Our report has categorized the market based on type, product and end use.

Breakup by Type:

• Floors and Roofs
• Columns and Beams
• Stairs and Landing
• Walls
   

Breakup by Product:

• Structural Building Components
• Architectural Building Components
• Transportation Products
• Water and Waste Handling Products
• Others
   

Breakup by End Use:

• Residential
• Non-Residential
   

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Balfour Beatty plc, Boral Limited, CEMEX S.A.B. de C.V., Elementbau Osthessen GmbH & Co. ELO KG, Forterra Inc., Gulf Precast Concrete Co LLC, Holcim Group, Laing O’Rourke, Olson Precast Company, Spancrete Inc. (Wells Concrete) and Tindall Corporation.

Report Coverage:

Key Questions Answered in This Report:

• How has the global precast concrete market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the global precast concrete market?
• What are the key regional markets?
• What is the breakup of the market based on the type?
• What is the breakup of the market based on the product?
• What is the breakup of the market based on the end use?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the global precast concrete market and who are the key players?
• What is the degree of competition in the industry?