Precast Concrete Market Size, Share & Trends Report

Precast Concrete Market Size, Share & Trends Analysis Report By Product Type (Structural, Architectural, Transportation, Water & Waste Handling), By End Use, By Region, And Segment Forecasts, 2018 - 2025

  • Published Date: Apr, 2018
  • Base Year for Estimate: 2016
  • Report ID: GVR-2-68038-360-7
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2015
  • Number of Pages: 104

Industry Insights

The global precast concrete market size was estimated at USD 78.44 billion in 2016 and is projected to register a CAGR of 6.1% over the forecast period. Rise in construction activities around the globe is expected to drive the growth of precast construction.

U.S. precast concrete market

Growth in urban population is a major megatrend, which is transforming the construction industry in most countries. In addition, demand for affordable housing is increasing, along with soaring demand for transport and utility infrastructure. This, in turn, is anticipated to propel the market over the coming years.

Short construction time and low cost are the major advantages offered by precast concrete. This renders it popular among builders and contractors. Temperature, stripping time, and mix designs, which is a very important factor for manufacturing of strong concrete products, can be monitored and checked in a factory setting. Hence buildings made of precast concrete are stronger in comparison to those made with conventional concrete. The above-mentioned features are anticipated to drive the market to exhibit a steady growth rate from 2017 to 2025.

Despite cheap manufacturing prices of precast concrete products, their transportation from factory to construction sites requires specific resources. The industry requires skilled labor as the use of precast concrete for construction of buildings is entirely different from traditional methods of construction. This, in turn, is likely to restrain the growth of the market over the forecast period.

Product Type Insights

Structural building components are expected to form the fastest growing product type segment in the precast concrete market owing to extensive use in residential and nonresidential buildings.

Transportation is also one of the major segments owing to various projects undertaken by governments around the globe. OBOR and CPEC are some of the projects undertaken by the Chinese government to improve the country’s logistical capabilities.

Precast concrete has been used in water and waste handling products for many years. Water handling products are used to carry water from dams to cities and waste handling products are used to transfer sewage from cities to sewage treatment plants. Expansion of cities and creation of new smart cities are expected to trigger demand for these product types.

End-use Insights

Residential is the largest end-use segment in the market. Increasing middle-class population all over the globe is generating significant demand for affordable housing. Government initiatives to support housing for the poor and for middle-class population are expected to further spur the market.

Global precast concrete market

The nonresidential segment is expected to register the fastest growth rate due to increasing use of precast concrete in construction of nonresidential complexes, malls, offices spaces, education institutes, universities, hotels, and hospitals.

Regional Insights

Asia Pacific is anticipated to be a major regional market over the next few years. Rapidly growing population in the region has led to massive demand for affordable housing. Increasing disposable income in developing countries, especially in China and India, is also expected to trigger a rise in residential and nonresidential construction.

The revival of the housing sector in developed nations such as U.S., U.K., and Germany is expected to drive the market in these regions. Middle East and Africa (MEA) is one of the fastest growing regional markets owing to its massive construction sector. Various megaprojects in the region, such as the mega city called NEOM in Saudi Arabia and large football stadiums in Qatar for FIFA World Cup 2022, are anticipated to increase demand for precast concrete in the region. Similarly, construction of skyscrapers and artificial islands in Dubai is expected to drive the regional market over the forecast period.

Precast Concrete Market Share Insights

The market is highly competitive in nature as it consists of both global and local players. As factories need to be in the vicinity of the construction site, there is a significant demand for local players due to their location proximity. Some of the key players in the industry are CEMEX S.A.B. de C.V., LafargeHolcim, and Boral Limited. Market players have heavily invested in R&D activities to develop improved and affordable products.

Report Scope

Attribute

Details

Base year for estimation

2016

Actual estimates/Historical data

2014 and 2015

Forecast period

2017 - 2025

Market representation

Revenue in USD billion and CAGR from 2017 to 2025

Regional scope

North America, Europe, Asia Pacific, Central & South America, and the Middle East & Africa

Country scope

U.S., Germany, U.K., France, Italy, China, India, Japan, South Korea, Brazil, and Saudi Arabia

Report coverage

Revenue forecast, competitive landscape, and growth factors and trends

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global precast concrete market report on the basis of product type, end use, and region:

  • Product Type Outlook (Revenue, USD Billion, 2014 - 2025)

    • Structural Building Components

    • Architectural Building Components

    • Transportation Products

    • Water & Waste Handling Products

    • Others

  • End-use Outlook (Revenue, USD Billion, 2014 - 2025)

    • Residential

    • Nonresidential

    • Infrastructure

  • Regional Outlook (Revenue, USD Billion, 2014 - 2025)

    • North America

      • U.S.

    • Europe

      • Germany

      • U.K.

      • France

      • Italy

    • Asia Pacific

      • China

      • Japan

      • India

      • South Korea

    • Central & South America

      • Brazil

    • Middle East & Africa

      • Saudi Arabia

Key questions answered by the report
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