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, 2024 - 2030

  • Report ID: GVR-2-68038-360-7
  • Number of Report Pages: 108
  • Format: PDF, Horizon Databook
  • Historical Range: 2018 - 2022
  • Forecast Period: 2024 - 2030 
  • Industry: Advanced Materials

Research Methodology

A three-pronged approach was followed for deducing the precast concrete market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for precast concrete market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of precast concrete market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Precast Concrete Market Categorization:

The precast concrete market was categorized into three segments, namely product (Structural Building Components, Architectural Building Components, Transportation Products, Waste & Water Handling Products), application (Residential, Commercial, Infrastructure, Industrial), regions (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa).

Segment Market Methodology:

The precast concrete market was segmented into products, applications, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The precast concrete market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Central & South America, Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into nineteen countries, namely, the U.S.; Canada; Mexico; Germany; the UK; France; Italy; Spain; Poland; Czech Republic; Croatia; China; India; Japan; Singapore; South Korea; Brazil; Saudi Arabia; and Israel.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Precast concrete market companies & financials:

The precast concrete market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • Boral Limited - Established in 1946 and headquartered in Sydney, Australia, Boral Limited operates as a building products and construction material supplier. The product portfolio offered by the company is inclusive of quarry materials, asphalt, blocks, roof tiles, timber, pavers & retaining walls, bricks, cement & lime, concrete, and plasterboards. Its overall business is segmented into three divisions- Boral Australia, USG Boral, and Boral North America. Also, it is Australia’s largest construction material supplier and generates most of its revenue from there itself. Boral Limited has more than 670 operational facilities in over 15 countries across the globe in addition to operating its own 154 distribution centers. The company supplies its products to regions like Asia and North America and caters its products to a wide range of construction like residential, industrial, commercial, and infrastructure.

  • LafargeHolcim - Established in 2015 with the merger of Holcim and Lafarge LafargeHolcim is headquartered in Switzerland and is engaged in manufacturing and supply of building materials. It has a global presence in regions including the Middle East, Africa, Asia, and North & Latin America. The company deals in cement, aggregates, ready-mix concrete, and solutions & products and operates in more than 2300 sites across the globe. This also includes asphalt and dry mortar products for the construction industry. The precast products by the company include engineered and standard precast solutions, concrete blocks, traffic management products, architectural components, columns, tunnel liners, wall panels, rail products, and others. The company caters to solutions for different industries such as infrastructure, oil & gas, and building. It has a research and development division, which comprises of latest equipment, and research partners, which help the company to develop innovative construction solutions.

  • Gulf Precast Concrete Co. LLC - Gulf Precast Concrete Co. LLC was established in 1984 and is headquartered in Abu Dhabi, UAE, and has a presence in Saudi Arabia, Algeria, and UAE. The company has a diverse product, service, and solution portfolio beginning from precast infrastructure and marine works, water, and wastewater to utility management to meet customer needs. Its product portfolio includes beams & columns, cladding panels, boundary walls, hollow core slabs, sandwich panels, manholes, barriers, GRC & GRP, sleepers, UHPC, and complete building systems. The company is involved in the manufacturing of precast concrete products and offers a wide range of precast products produced at its six precast manufacturing factories. Additionally, it caters to its products such as precast concrete products for residential and commercial applications.

  • Olson Precast Company - Olson Precast Company was established in 1989 and is headquartered in Las Vegas, U.S., and operates as a manufacturer of precast concrete and steel products. The company specializes in water and waste handling precast products such as water, sewer and storm drains, vaults, and manholes. The company has four manufacturing facilities. Las Vegas facility manufactures precast and cast-in-place structures, Rialto, California facility manufactures specialty precast products; Tucson, Arizona facility manufactures Architectural concrete structures and another facility in Las Vegas, Nevada manufactures coating for constructions. The company also provides design services for precast and cast-in-place concrete constructions.

  • CEMEX S.A.B. de C.V. - CEMEX S.A.B. de C.V. was established in 1906 and is headquartered in San Pedro Garza García, Mexico. It is engaged in the manufacturing and supply of building materials to more than 100 countries across the globe. The product portfolio offered by the company includes cement, aggregates, neogem, ready-mix concrete and related products. It has 65 cement plants and cement mills, 1427 ready mix concrete facilities, 262 aggregate quarries, 279 distribution centers, and 56 marine terminals. Moreover, the services offered by the company are building, pavements, and green building services. Concrete-related products by the company are asphalt, concrete blocks, roof tiles, architectural products, pipe and other precast like rail products, box culverts, concrete floors, drainage basins, bridges, parking curbs, and barriers.

  • Forterra Pipe and Precast, LLC - Forterra Pipe and Precast, LLC was established in 1899 and is headquartered in Irving, Texas, U.S. It operates as a subsidiary of Forterra, Inc., and is engaged in the manufacture of pipe and precast products. Fonterra was formerly known as HBP Pipe & Precast, LLC. The company products are segmented into four divisions namely drainage pipe & products, water pipe & products, structural precast products, and stormwater management systems. The product offerings of the company include drainage pipes, precast wall foundations, railroad crossing products, reinforced and non-reinforced concrete pipes, protective lining systems, and custom pre-casts. The company operates from 120 sites in the U.S., U.K. and Canada.

  • Tindall Corporation - Tindall Corporation was established in 1995 and is headquartered in South Carolina, U.S. The company has five manufacturing facilities located in Spartanburg, Petersburg, San Antonio, Moss Point, and Georgia. It operates as a manufacturer of precast concrete products and is engaged in the design, manufacture, and installation of precast concrete products. The company provides entire precast systems for commercial, educational, industrial, and parking structures. Construction markets served by the company include commercial, corrections, education, heavy civil, industrial, manufacturing, mixed-use, parking, petrochemical, and power & energy, utility products, and wall panel systems.

  • Spancrete - Spancrete was established in 1946 and is headquartered in Wisconsin, U.S. The company is engaged in precast concrete products manufacturing and supply operations. It caters to the construction industry in the U.S. with preferred locations in Wisconsin, Florida, and Illinois. Major construction applications served by the company are municipal, residential and commercial. The precast products offered by the company are inclusive of total precast, architectural, hollow concrete, wall panels, double tees, beams & columns, transportation, stairs & risers, replenishment, and rib slab flooring. It also provides machinery such as slip-formers, extruders, plotters, multi-function machines, saws, lifting clamps/leveling bars, wire/strand drawing equipment, and ancillary equipment.

  • Elementbau Osthessen GmbH & Co., ELO KG - Elementbau Osthessen GmbH & Co., ELO KG or ELO Beton, headquartered in Eichenzell, Germany, was established in 1969. The company is involved in the development and manufacturing of concrete components in different shapes, functions, and colors to suit consumer requirements. The product portfolio includes precast concrete products, ready-mix concrete, high-performance concrete, and ultra-high-performance concrete. It develops precast concrete products in collaboration with builders, architects, and engineers and offers diverse services such as the assembly of construction components, consultation services in the planning phase, quantity survey, delivery, and services for expanded shell construction.

  • Gülermak A.Ş. - Gülermak A.Ş. was incorporated in 1958 and is headquartered in Ankara, Turkey. It is a construction contractor company that deals in the construction of railways, industrial, and infrastructural projects. The company has been involved in the construction of over 260 kilometers of underground railway tunnels and 103 underground railway stations in its turnkey contracts. Its business segment is segregated into various fields of activities including transportation projects, industrial projects, power projects, environmental projects, and fabrication. Transportation projects include railways, metro & light rail transit systems, tramlines, and highways. Industrial projects include cement, sugar, and glass factories, while environmental projects include wastewater treatment plants, pipelines, and dredging. The company’s business spans across Asia with established offices in Ankara, Warsaw, Sweden, Dubai, and India.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Precast Concrete Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2023, historic information from 2018 to 2022, and forecast from 2024 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Precast Concrete Market Report Assumptions:

  • The report provides market value for the base year 2023 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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