GVR Report cover Precast Concrete Market Size, Share & Trends Report

Precast Concrete Market Size, Share & Trends Analysis Report By Product (Structural Building Components, Transportation Products), By Application (Residential, Commercial, Infrastructure), And Segment Forecasts, 2022 - 2030

  • Report ID: GVR-2-68038-360-7
  • Number of Pages: 108
  • Format: Electronic (PDF)

Report Overview

The global precast concrete market size was estimated at USD 96.3 billion in 2021 and is expected to register a compound annual growth rate (CAGR) of 5.5% over the forecast period. The market is expected to be driven by the expanding construction industry across major regions owing to the increasing investments in infrastructure development. The increasing disposable income levels in developing as well as developed countries are expected to boost the residential construction segment. In addition, increasing initiatives by various governments for the development of their respective economies are also expected to boost the construction industry, augmenting the product demand in the years to come.

 U.S. precast concrete market size, by product, 2020 - 2030 (USD Billion)

The global industry is expected to have substantial growth over the forecast period. Rapid industrialization and urbanization in emerging economies, rising focus on developing high-quality infrastructure around the world, and emphasis on green building projects are other major factors driving the industry. Precast concrete is used in the production of building components, such as wall panels, sound walls, manholes, highway barriers, and building foundations. Compared to other alternatives, precast concrete structures are more durable, stronger, and can be easily constructed in lesser time.

These products can have a significantly high span-to-depth ratio, which helps the structure in better load bearing, thereby reducing the need for additional columns. Thus, these products are widely used in large-scale projects like concert halls and arenas so that the view and experience of the audience are not blocked by any pillar. Prominent industry participants are involved in technological innovations to develop new products to consolidate their industry presence. A rise in consumer demand and a shift in consumer preference toward high-quality products are also projected to open up several growth avenues for the new entrants in the industry over the forecast period.

Product Insights

The structural building components segment is expected to be the fastest-growing product type growing at a CAGR of 5.9% over the forecast period. This growth can be attributed to their high demand from the construction industry. The increasing number of hotels, malls, and hospitals coupled with growing industrialization globally will likely propel the product segment growth over the forecast period. The rising use of structural building components in affordable housing is anticipated to be a major driver for this segment. The rising demand for affordable housing on account of the rapidly growing middle-income population is expected to drive the product demand over the forecast period.

Precast concrete walls offer design flexibility and improve profitability, which is projected to propel the demand for precast architectural building components over the forecast period. The expansion of cities will likely result in an increasing number of office buildings, hospitals, schools, shopping centers, apartments, and parking garages. The precast concrete is expected to gain high demand in rail applications owing to the rising awareness about its benefits, such as high durability, low maintenance cost, and improved track elasticity. In addition, improved ride quality, minimum lifecycle cost, improved geometric retention of the rail track, and greater weight, which is important for heavy freight lines and high speed, and environmental friendliness are likely to benefit the industry further.

Application Insights

Significant investments in infrastructure and real estate development are offering lucrative growth opportunities for precast concrete. The emphasis on infrastructure and residential needs, particularly in emerging nations, has resulted in a considerable flow of private and government-led investments in these sectors. The precast concrete structures are cast and cured offsite and delivered when required. Thus, they do not need on-site storage space. Moreover, it requires a minimal number of laborers, and the installation requires small cranes. Thus, the aforementioned benefits of the product in residential applications are projected to propel the segment growth over the forecast period. Precast concrete is one of the most popular construction materials for building office structures.

 Global precast concrete market share, by application, 2021 (%)

The precast walls used in the commercial building are manufactured off-site, which helps in saving time and space. In addition, the speed and ease of building precast structures promote its application in parking structures. Precast concrete structures are suitable for constructing noise-cancellation walls as their surface is designed to minimize ambient noise caused due to highway traffic or trains. In addition, the design flexibility offered by concrete makes it apt for outdoor applications involving climbing walls, skate parks, and fences. Moreover, infrastructure development programs in emerging economies are likely to increase product demand. The construction of dams, bridges, flyovers and other public utility structures is anticipated to accelerate the product demand.

Regional Insights

Asia Pacific is anticipated to be the fastest-growing regional market with a CAGR of 6.6% during the forecast period. The outstanding economic performance of the region is expected to nurture growth. Stringent regulations that limit the emission of CO2 gas are likely to push the product demand, which causes less pollution. The increased growth rate of the industrial sector is likely to augment the product demand in the U.S. over the forecast period. Furthermore, the demand for the product is expected to witness rapid growth owing to the inclination of building contractors and customers toward eco-friendly, cost-effective, and modern construction solutions.

Precast Concrete Market Trends by Region

The Europe region accounted for the second-largest revenue share in 2021. Nordic countries were among the first countries in the world to adopt precast technology. As a result, the product is anticipated to witness high penetration in the European construction industry over the forecast period. The growth in GDP in Europe is attributed to the increasing private investments in emerging economies. The significant recovery of the construction industry coupled with rising product penetration in the region is expected to drive the region’s growth. Germany is the leading construction market on account of high investments in the construction sector due to factors, such as favorable government incentives, digitization, economic confidence, resource efficiency, and a circular economy.

Key Companies & Market Share Insights

The industry exhibits a large number of players providing a range of product varieties leading to intense competitive rivalry. Major players have a strong presence in developed economies like North America, Europe, and some parts of the Asia Pacific region, including Australia. The high degree of forward and backward integration of dominant players persists in the global industry, which, in turn, has intensified the rivalry and competition, thus making the entry of new players difficult. Some of the prominent players in the global precast concrete market include:

  • Boral Ltd.

  • LafargeHolcim

  • Gulf Precast Concrete Co. LLC

  • Olson Precast Company

  • CEMEX S.A.B. de C.V

  • Forterra Pipe and Precast LLC

  • Tindall Corporation

  • Spancrete

  • Elementbau Osthessen GmbH & Co., ELO KG

  • GÜlermak A.S.


  • LAING O’Rourke

  • Larsen & Toubro Ltd.

Precast Concrete Market Report Scope

Report Attribute


Market size value in 2022

USD 100.67 billion

Revenue forecast in 2030

USD 156.13 billion

Growth rate

CAGR of 5.5% from 2022 to 2030

Base year for estimation


Historical data

2017 - 2020

Forecast period

2022 - 2030

Quantitative units

Revenue in USD billion and CAGR from 2022 to 2030

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product, application, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; Canada; Germany; U.K.; France; Italy; Spain; Poland; Czech Republic; Croatia; China; India; Japan; Singapore; South Korea; Brazil; Saudi Arabia; Israel

Key companies profiled

Boral Ltd.; LafargeHolcim; Gulf Precast Concrete Co. LLC; Olson Precast Company; CEMEX S.A.B. de C.V.; Forterra Pipe and Precast LLC; Tindall Corp.

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options


Global Precast Concrete Market Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For the purpose of this study, Grand View Research has segmented the global precast concrete market report on the basis of product, application, and region:

Global Precast Concrete Market Segmentation

  • Product Outlook (Revenue, USD Billion, 2017 - 2030)

    • Structural Building Components

    • Architectural Building Components

    • Transportation Products

    • Waste & Water Handling Products

    • Others

  • Application Outlook (Revenue, USD Billion, 2017 - 2030)

    • Residential

    • Commercial

    • Infrastructure

    • Industrial

  • Regional Outlook (Revenue, USD Billion, 2017 - 2030)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • U.K.

      • France

      • Spain

      • Italy

      • Poland

      • Czech Republic

      • Croatia

    • Asia Pacific

      • China

      • India

      • Japan

      • South Korea

      • Singapore

    • Central & South America

      • Brazil

    • Middle East & Africa

      • Saudi Arabia

      • Israel

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