Precast Concrete Market to Gain an Upward Trend in Upcoming Years!!

Posted by Market Research Future on November 15th, 2018

Market Highlights
Global precast concrete market has witnessed gradual growth in recent years, and is expected to witness steady growth in the forecast period. The market is primarily driven due to rapid growth in the construction industry with high demand for high strength concrete, as one of the primary growth factors. Precast concrete is produced by casting concrete for the construction of buildings, infrastructure and more. Precast concrete are produced in reusable molds, either in the plant or at the construction sites. This production process is performed on ground level, which provides safety throughout the project. Precast concrete from reusable molds allow the costs to be lower than those in site-cast production. Precast concrete are resilient enough to tolerate extreme weather conditions and will perform the same for many years of constant usages. Precast concrete provides a wide range of engineered earth retaining systems to manufacturers.

The rising adoption of the smart city concept will be one of the latest trends that will contribute growth for the precast concrete market. The growing preference of the people to live in urban locations, induces the governments of the countries around the world to focus on initiatives such as smart cities to improve the life of urban people. These initiatives will aim at developing plans for intelligent networking of energy, water supplies, lighting, and mobility systems.   

Rapid growth in the construction sector is one of the major factors driving the precast concrete market. High demand for residential and non-residential buildings, has significant impact on the demand for precast concrete, as they are used in the flooring and walls of the buildings. Pre-Stressed concrete are the most used structures in the construction industry. It comprises concrete beams, columns, spandrels, single and double tees, wall panels, segmental bridge units, bulb-tee girders, I-beam girders, and many others. It has been forecast that residential and non-residential construction will support industry demand with continuous recovery and growth. This will expand the construction for bridges, highways, and other transportation infrastructure.  

The global precast concrete market is expected to grow at ~ 6% CAGR during the forecast period.

Market Research Analysis

Pre-stressed concrete and Non-Residential sector are, expected to grow at the highest CAGR

Global precast concrete market has been segmented based on structures, end-use and regions. Based on structures, the market has been segmented as Pre-Stressed Concrete, Sandwich Wall (Insulated Double-Wall) Panels and others. Among these, the pre-stressed concrete occupies the largest share as it is more durable, crack proof and has higher tensile strength compared to conventional reinforced concrete. It is majorly used in commercial constructions such as shopping centers, gymnasiums, hotels, etc. Based on end-use, the market has been segmented as Nonresidential Building, Non-Building, Residential and Agricultural. Non-residential buildings are expected to dominate the market among all the end-use segments. The construction of hotels, office spaces, manufacturing facilities and amusement & recreation spaces, has given the highest boost to this segment.

Scope of the ReportThis study provides an overview of the global precast concrete market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the precast concrete market by its structures, by end-use and by region.


Key Players
The key players of global precast concrete market are Oldcastle Precast, Inc. (U.S), Coreslab Structures (Canada), Metromont Corporation (U.S), CEMEX S.A.B. de C.V. (Mexico), CRH plc (Ireland) Coltman Precast Concrete Limited (U.K), Bechtel Corporation (U.S) China State Construction Engineering Corporation (China), Larsen & Toubro (India) and Vinci S.A. (France).

Access Report Details @ https://www.marketresearchfuture.com/reports/precast-concrete-market-4850

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Market Research Future
Joined: March 9th, 2018
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