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$163+ Billion Worldwide Precast Construction Industry to 2031 - Rising Urbanization and Industrialization is Expected to Drive Growth

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Global Precast Construction Market

Global Precast Construction Market
Global Precast Construction Market

Dublin, Jan. 16, 2023 (GLOBE NEWSWIRE) -- The "Precast Construction Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.

This report provides strategists, marketers and senior management with the critical information they need to assess the global precast construction market.

This report focuses on precast construction market which is experiencing strong growth. The report gives a guide to the precast construction market which will be shaping and changing our lives over the next ten years and beyond, including the markets response to the challenge of the global pandemic.

The global precast construction market is expected to grow from $126.77 billion in 2021 to $133.57 billion in 2022 at a compound annual growth rate (CAGR) of 5.36%. The precast construction market is expected to reach $163.09 billion in 2026 at a CAGR of 5.12%.

Reasons to Purchase

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  • Identify growth segments for investment.

  • Outperform competitors using forecast data and the drivers and trends shaping the market.

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  • Benchmark performance against key competitors.

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  • Suitable for supporting your internal and external presentations with reliable high quality data and analysis

Major players in the precast construction market are CRH plc, Bouygues Construction, Larsen & Toubro Limited, Taisei Corporation, Balfour Beatty plc, Kiewit Corporation, Laing O'Rourke, Julius Berger Nigeria Plc, Red Sea Housing Services, ACS Group, Elematic, LafargeHolcim, Coltman Precast Concrete Limited, and Cemex S.A.B. de C.V.

The precast construction market consists of sales of precast construction by entities (organizations, sole traders, and partnerships) that refer to a building material made by casting concrete in a reusable form. Precast construction technology consists of various precast elements and some customized elements that are standardized and designed for stability.

It consists of the large panel, frame, slab-column system with the shear wall, erection sequence, beams, and others. The purpose of precast construction is to build and design substantial buildings that can manage loads better by avoiding the need for additional columns and beams.

The main structure type of precast construction is beam & column system, floor & roof system, bearing wall system, and facade system. Beam & column systems are horizontal and vertical components that support double tees, hollow-core, solid slabs, and occasionally other beams and columns that are used to hold up beams and spandrels. These precast constructions are applied in modular and manufactured homes. These precast constructions are used by residential, and non-residential users.

Asia-Pacific was the largest region in the precast construction market in 2021 and is also expected to be the fastest-growing region in the forecast period. The regions covered in precast construction market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The growth in urbanization and industrialization is expected to propel the precast construction market. The rise in income of the middle class leads to discretionary spending and a change in consumption patterns, generating demand for construction and thus opportunities for the precast construction industry.

The share of the urban population has increased to 56.2%, which leads to an increase in demand for construction services that offer high-quality construction while saving time and resources. 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.

Sustainable construction techniques are a key trend that is gaining popularity in precast construction. The construction industry consumes a lot of natural resources. However, with the growing threat of climate change and finite natural resources, construction firms are under increasing pressure to reduce their environmental impact.

The improvement of efficiency and assurance of sustainable development in construction depends on the broader application of progressive technologies, Government regulations, controlling cost, materials, and modern methods of sustainable construction techniques.

For Instance, In November 2021, in a report published by Dodge Construction network, there is an estimated increase in the use of green products and systems across various construction categories. Furthermore, an elevated level of growth is expected in the next three years (2024) among those who plan to do more than 60% of their green projects.

In 2021, Cementos Molins, a Spain-based building material company specializing in marketing, distribution, and manufacturing of cement through its subsidiary Precon, acquired Pretersa Prenavisa for an undisclosed amount.

This acquisition will boost Cementos Molins' expansion in precast concrete solutions in Spain, Portugal, and France, which will expand the company's offering of innovative and sustainable building solutions while also boosting its presence in these countries. Pretersa-Prenavisa is a Spain-based construction company that is dedicated to the design, manufacture and assembly of precast concrete infrastructure.

The countries covered in the precast construction market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Report Attribute

Details

No. of Pages

175

Forecast Period

2022 - 2026

Estimated Market Value (USD) in 2022

$133.57 billion

Forecasted Market Value (USD) by 2026

$163.09 billion

Compound Annual Growth Rate

5.1%

Regions Covered

Global

Key Topics Covered:

1. Executive Summary

2. Precast Construction Market Characteristics

3. Precast Construction Market Trends And Strategies

4. Impact Of COVID-19 On Precast Construction

5. Precast Construction Market Size And Growth
5.1. Global Precast Construction Historic Market, 2016-2021, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Precast Construction Forecast Market, 2021-2026F, 2031F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market

6. Precast Construction Market Segmentation
6.1. Global Precast Construction Market, Segmentation By Structure System, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

  • Beam & Column System

  • Floor & Roof System

  • Bearing Wall System

  • Facade System

6.2. Global Precast Construction Market, Segmentation By Construction Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

  • Modular

  • Manufactured homes

6.3. Global Precast Construction Market, Segmentation By End User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

  • Residential

  • Non-residential

7. Precast Construction Market Regional And Country Analysis
7.1. Global Precast Construction Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
7.2. Global Precast Construction Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

For more information about this report visit https://www.researchandmarkets.com/r/mk5nkm

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