Precast Concrete Market Size - By Element (Building & Structural, Transportation Products, Water & Wastewater Management Products, Utility & Industrial Products), Sector (Residential, Non-residential, Infrastructural) & Forecast, 2021 - 2027

Industry Trends

Precast Concrete Market size surpassed USD 116 billion in 2020 and is anticipated to grow at over 5.6% CAGR from 2021 to 2027. Rapid urbanization along with infrastructural growth has continuously encouraged urban construction projects, which will stimulate the industry growth.
 

Radical changes in modern architectural designs have significantly influenced the demand for precast concrete in columns, slabs, staircases, walls, floors, girders, etc., for industrial and commercial buildings.
 

To get more details on this report: Request Free Sample PDF
 

Rapid growth in the residential construction sector is poised to augment the industry demand owing to increasing investments in designer housing complexes. Moreover, rapid growth in urban population globally has led to a rise in demand for affordable housing in emerging economies. According to the World Bank data, 55% of the global population, i.e., nearly 4.2 billion people reside in cities and this number will expand in the future with an estimated addition of 1.2 million km² area for new urban infrastructure by 2050.
 

Countries including China, India, Indonesia, and Brazil are positively investing in residential construction due to the rising mid-income group and their changing lifestyles. The rapid urbanization process coupled with significant improvements in building quality will boost product demand. Furthermore, precast concrete provides ideal solutions for architects and structural engineers to meet the rising demand by gearing up the speed of construction.
 

Additionally, favorable government & state policies will sustain the demand for precast concrete by 2027.  High energy efficiency and sustainability of precast materials are positively impacting the industry statistics. Multiple government agencies, such as the National Precast Concrete Association (NPCA), the Architectural Precast Association (APC), etc., are approving precast materials in the U.S. for transportation projects owing to its safety features. The high costs of finished products and increasing shipment costs over long distances will restrict industry growth.
 

However, in many developing countries, the lack of proper infrastructures, such as poor rail and road connectivity, is expected to suppress the industry demand. Nevertheless, rising economic activities across the globe will fuel the precast concrete market growth.
 

Water and wastewater management products to lead the market share

The water and wastewater management segment is slated to cross USD 50 billion in 2027 as the product can offer a high weather-resistance ability, good strength, and flexibility. These plant structures need to withstand earthquakes, which further creates demand for precast concrete. The rapid adoption of modern stormwater runoff management systems in developed countries to protect water resources and aquatic ecosystems will contribute to the overall industry expansion.
 

Growing infrastructure sector will spur the product demand

To get more details on this report: Request Free Sample PDF
 

The infrastructure sector exhibited the largest share of around 40% of the precast concrete market in 2020 led by widespread applications in rail & road transportation. High load-bearing ability, precast concrete is specifically used in protective walls, bridges, floating docks, high & mid-rise apartment buildings, etc. Factors including versatility, resiliency, and high-end performance largely create scopes for commercial applications, which will gradually driving the industry revenue.
 

Asia Pacific to dominate the overall industry

To get more details on this report: Request Free Sample PDF
 

The Asia Pacific market crossed about USD 49 billion in 2020 impelled by rising infrastructure development in emerging economies including China, India, Malaysia, and South Korea. Moreover, the manufacturing industry across the region has experienced a gradual shift over the years, which will compel market demand. Densely populated cities in South Asian countries will push the demand for building and structural products.
 

Economical and sustainable products will create market opportunities

Major industry participants are continuously investing in R&D activities coupled with mergers & acquisitions to extend their global presence. Industry leaders are spending on facility upgrades and capacity expansion to improve their financial margins. For instance, Cemex announced to invest nearly USD 925 million from 2021 to 2023 to expand its cement production capacity in the Americas, Europe, and the Philippines, which will strengthen its market positioning in high-growth metropolitan cities.
 

Key players in the precast concrete market includes HOLCIM, CEMEX S.A.B. de C.V., Boral, CRH plc, Laing O’Rourke, Balfour Beatty, Julius Berger Nigeria Plc., Gulf Precast Concrete Co., LLC, Tindall Corporation, Olson Precast Company, Forterra, ELO Beton, Spancrete, Larsen & Toubro, and HEIDELBERGCEMENT AG.
 

This market research report on precast concrete includes in-depth coverage of the industry with estimates & forecast in terms of volume in million-meter cube and revenue in USD million from 2017 to 2027 for the following segments:

Click here to Buy Section of this Report

Market, By Element

• Building & Structural
  • Beams & Columns
  • Floor & Roofs,
  • Wall
  • Others
• Transportation Product
• Water & Waste Management Product
• Utility & Industrial Product
• Others

Market, By Sector

• Residential
• Non-Residential
• Infrastructural

The above information is provided on a regional and country basis for the following:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Poland
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • Indonesia
  • Malaysia
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • South Africa