The global precast concrete market size is expected to reach USD 139.33 billion by 2028 registering a CAGR of 5.3%, according to a new report by Grand View Research Inc. Growing product utilization in the residential construction industry to reduce the overall cost of construction is expected to drive the market growth over the forecast period. China, India, Indonesia, and Vietnam are some of the major Asian economies that are witnessing an infrastructure boom. Thus, growing investments in the construction of underground and over the ground metro rail projects, bridges, tunnels, subways, and high-speed rail networks are anticipated to provide a major boost to the global market.
The product use helps the construction companies to achieve economies of scale, reduce overall labor requirements, and ensure the quality of the finished concrete modules. In addition, it also helps in speeding up the overall process and helps achieve significant savings, in terms of the overall time and cost required to complete the project. Key players in the market have undertaken several strategies, such as joint venture agreements with the local construction companies, to access the local markets. For instance, companies, such as Gulermak A.S. and Shanghai Tunnel Engineering Company are successfully carrying out metro rail construction projects in India in partnership with local companies.
Browse full report with Table of Content @ https://www.grandviewresearch.com/industry-analysis/precast-concrete-market
Precast Concrete Market Report Highlights
• In China, the structural building components segment is expected to grow at a CAGR 7.3% over the forecast period on account of the growing adoption of precast building structural piles and other foundational structures
• In 2020, the revenue for the residential end-use segment in the North America region stood at USD 10.62 billion owing to wide usage of precast architectural building components, such as walls, staircases, and bathroom pods, in residential construction
• In India, the infrastructure end-use segment is expected to grow at the fastest CAGR of 8.6% over the forecast period
• This growth can be attributed to the growing investments in the construction of various infrastructure projects, such as metro rail, high-speed train network, and bridges.
• Technological advancements in concrete admixtures and construction chemicals are having a positive impact on the global market as these products help reduce the required curing time for the concrete and help reduce the overall construction time.
For Requesting a Sample Copy Please Visit @ https://www.grandviewresearch.com/industry-analysis/precast-concrete-market/request/rs15
Precast Concrete Market Segmentation
Grand View Research has segmented the global precast concrete market on the basis of product, end-use, and region:
Precast Concrete Product Outlook (Revenue, USD Billion, 2017 – 2028)
• Structural Building Components
• Architectural Building Components
• Transportation Products
• Water & Waste Handling Products
Precast Concrete End-use Outlook (Revenue, USD Billion, 2017 – 2028)
Precast Concrete Regional Outlook (Revenue, USD Billion, 2017 – 2028)
• North America
• The U.S.
• The U.K.
• Asia Pacific
• South Korea
• Central and South America
• Middle East & Africa
• Saudi Arabia
List of Key Players of Precast Concrete Market
• Boral Ltd.
• Gulf Precast Concrete Co. LLC
• Olson Precast Company
• CEMEX S.A.B. de C.V.
• Tindall Corporation
• ELO Beton
• Gulermak A.S.
Fill the Pre-Order Enquiry Form for the Report @ https://www.grandviewresearch.com/inquiry/5053/ibb
Browse Related Reports:
Translucent Concrete MarketSize, Share & Trends Analysis Report By Raw Material (Concrete, Fibers), By Application (Wall Cladding, Roofing, Flooring), By End Use, By Region, And Segment Forecasts, 2021 – 2028.
About Grand View Research
Grand View Research is a U.S. & India-based market research and consultancy firm. It is headquartered in San Francisco. We provide business insights, syndicated research reports, and customized research reports to large as well as small and medium-scale enterprises. Our database features thousands of statistics and in-depth analyses on more than 45 industries. Grand View Research’s extensive database is used by Fortune 500 companies to understand the regional as well as the global business environment.
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Address:Grand View Research, Inc. 201 Spear Street 1100 San Francisco, CA 94105, United States
City: San Francisco
Country: United States