Precast Concrete Market 2023 | Industry Trends, Growth, Size and Forecast 2028

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The global precast concrete market size reached US$ 122.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 166.3 Billion by 2028, exhibiting a growth rate (CAGR) of 5.2% during 2023-2028.

IMARC Group, a leading market research company, has recently releases report titled, “Precast Concrete Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The study provides a detailed analysis of the industry, including the global precast concrete market share, size and trends and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How big is the precast concrete market?

Report AttributesDetails
Market Size in 2022US$ 122.0 Billion
Market Forecast in 2028US$ 166.3 Billion
Growth rate (2023 to 2028)CAGR of 5.2%
Base Year of the Analysis2022
Forecast Period2023-2028

What is precast concrete?

Precast concrete refers to a construction product made by casting concrete and pouring a mixture of water, cement, and aggregates, such as sand, gravel, and crushed stone into a mold and allowing it to harden and cure before transporting it to the construction site. It offers consistent quality, improved durability, reduced waste, and enhanced safety. It also offers flexibility in design and can be customized to meet specific project requirements, such as small decorative items and large structural elements like beams, columns, walls, and slabs. At present, it is widely utilized in construction projects wherein speed, durability, and cost-effectiveness are key considerations, as it is ready-to-install and reduces construction time and labor costs.

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What are the growth prospects and trends in the precast concrete industry?

The inflating disposable incomes, rapid urbanization, and significant rise in construction and renovation activities are among the major factors positively influencing the market across the globe. In addition, the rising need for eco-friendly and sustainable construction practices and the increasing demand for construction products that are durable, cost-effective, and sustainable are catalyzing the demand for precast concrete as a popular choice due to its durability, energy efficiency, and ability to incorporate recycled materials. Apart from this, the incorporation of advanced technologies, such as 3D printing and artificial intelligence (AI), for improving the efficiency and quality of precast concrete and creating complex designs and structures are stimulating the growth of the market.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Type:

  • Floors and Roofs
  • Columns and Beams
  • Stairs and Landing
  • Walls

Breakup by Product:

  • Structural Building Components
  • Architectural Building Components
  • Transportation Products
  • Water and Waste Handling Products
  • Others

Breakup by End Use:

  • Residential
  • Non-Residential

Breakup by Region:

  • North America
  • Asia-Pacific
  • Europe
  • Latin America
  • Middle East and Africa

Who are the key players operating in the industry?

The report covers the major market players including:

  • Balfour Beatty plc
  • Boral Limited
  • CEMEX S.A.B. de C.V.
  • Elementbau Osthessen GmbH Co. ELO KG
  • Forterra Inc.
  • Gulf Precast Concrete Co LLC
  • Holcim Group, Laing O’Rourke
  • Olson Precast Company
  • Spancrete Inc. (Wells Concrete)
  • Tindall Corporation.

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