Precast Concrete Market Competitive Landscape, Growth Factors, Revenue Analysis to 2027 - IndustryARC - World News Report

Precast Concrete Market Competitive Landscape, Growth Factors, Revenue Analysis to 2027 – IndustryARC – World News Report

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The precast concrete market is projected to reach US$156.5 billion by 2027 after a CAGR of 4.5% during 2022-2027.

HYDERABAD, TELANGANA, INDIA, September 12, 2022 /EINPresswire.com/ — Precast concrete market The size is projected to reach US$156.5 billion by 2027, after growing at an average of 4.5% during 2022-2027. Precast concrete is a type of construction product that is made by mixing concrete, pouring the concrete into a reusable mold, and then curing it in a controlled environment before transporting it to the construction site and lifting it to the site. Precast concrete containing expanded polystyrene is beneficial for construction work because it is lightweight and thermally insulated. The precast concrete market is mainly driven by the growth of commercial construction activities in various regions. For example, in March 2022, commercial construction projects are under construction, such as the construction of venues for the Paris 2024 Olympic Games, the CIBC Square office building in Canada in 2024, and other similar commercial projects. In addition, rising infrastructure development projects, including bridges, airports and more, are expected to drive demand for precast concrete, thereby spurring the growth of the precast construction industry during the forecast period.

Main conclusions:

This IndustryARC Precast Concrete Market Report highlights the following areas:

1. Asia Pacific has dominated the precast concrete market due to the growth of commercial construction activity in the region. For example, in August 2021, the Japanese company Hotel Okura Co., Ltd announced the construction of the Okura Shanghai Sheshan Hotel, which will be completed in 2024.

2. Building Information Modeling (BIM) is increasingly being used in precast concrete projects as it allows for more efficient design, manufacturing and construction by creating and managing virtual models that include both physical properties and functional behavior. The introduction of modern systems contributes to the growth of the market.

3. In addition, modern expanded polystyrene (EPS) precast concrete sandwich systems are gradually replacing traditional block systems due to their light weight, improved insulating properties and fast erection, creating opportunities for the precast concrete market.

4. However, the availability of many substitutes on the market, such as reinforced concrete, precast concrete, etc., limits the market for precast concrete structures. Asia Pacific Precast Market Revenue 2021-2027 (billion US dollars)

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https://www.industryarc.com/pdfdownload.php?id=511412

Segment analysis:

1. The beam segment held the largest market share in the precast concrete market in 2021 and is projected to grow at a CAGR of 4.8% during 2022-2027.

2. The commercial segment held the largest market share in the precast concrete construction market in 2021 and is projected to grow at a CAGR of 5.6% during 2022-2027.

3. Asia-Pacific is the dominant region as it holds the largest share of the precast concrete market in 2021 up to 37%. Due to the rapid pace of industrialization in the Asia-Pacific region, there has been a surge in the construction of office buildings and commercial buildings such as hospitals, schools and more.

Competitive environment:

Top 5 players in the precast concrete industry:

1. HOLZIM

2. CEMEX SAB de CV

3. Boral

4. LLC “KRKH”

5. Lang O’Rourke

Click the following link to buy the precast concrete market report:

https://www.industryarc.com/reports/request-quote?id=511412

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IndustryARC is one of the world’s leading market research and consulting companies. It produces over 500 unique market reports annually. If you need a detailed overview of a specific market, you can simply contact the IndustryARC team. Not only can you buy your preferred market report on the website, but you can also get personalized assistance with specific reports.

Related reports:

A. Precast Concrete Market – Forecast (2022-2027)

https://www.industryarc.com/Report/15533/precasting-market.html

B. Specialized Concrete Market – Forecast (2022-2027)

https://www.industryarc.com/Report/18472/specialty-concrete-market-research-report-analysis.html

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