Precast Concrete Market: by Product Type (Floors & Roofs, Columns and Beams, Stairs and Landing, Walls), by Application (Structural Components, Architectural Components, Bridge Components), by End-use (Residential, Non-Residential, Agriculture), and Region – Forecast till 2023
Market Research Future includes following key players for global sandwich panels market research study: Jensen Precast (US), SKANSKA AB (Sweden), Tindall Corporation (US), Molin Concrete Products Company, Inc. (US), Metromont Corporation (US), Coreslab Structures (US), CRH(US), Coltman Precast Concrete Limited (UK), HeidelbergCement AG (Germany), Taiheiyo Cement (Tokyo), SMEET (Qatar), and Larsen & Toubro Limited (India)
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The global precast concrete market is all set to mount to the valuation of USD 103,666.1 million by 2023. The market will clock in a striking CAGR of 5.36% during the forecast period (2018-2023). Market Research Future (MRFR)’s report is focused primarily on segmental analysis as well as a detailed discussion of the drivers to offer an acute understanding of the precast concrete market.
Precast concrete refers to the construction product which is made by casting concrete in a reusable mold. This reusable mold is then cured in a controlled environment and transported to the construction site to be utilized. There are various kinds of precast concrete forming systems that have architectural applications, differing in size, price as well as function. Using precast elements helps eliminate or greatly reduces the need for conventional formworks and props. Precast concrete also helps lower the generation of wastage and also checks various other environmental hazards, providing a safe working platform for the workers. Precast concrete is generally used in the construction of buildings that have repetitive designs & elements, like schools and apartments. Precast concrete also offers the architecture engineer with an exciting medium, at the same time, designing facades for a broad range of buildings, like healthcare facilities, commercial buildings, shopping malls, and stadiums.
The market for precast concrete has observed sturdy growth in accordance with the advancing degree of industrialization, urbanization, and infrastructural developments. Going ahead, there has been a gradual shift of consumers and building contractors toward eco-friendly, cost-efficient, and modern building techniques which results in augmentation of growth opportunities for the precast concrete market. Other factors triggering the market growth include the increasing disposable income in the developing economies coupled with the changing preferences of construction methods that increase the reliance on modern construction techniques. Also, a substantial amount of investment in research and developmental activities for innovations is projected to be the key reason for the augmented sale revenue of key players. Since many of the market players are associated with product diversification and improvement to gain a competitive edge over competitors, the overall status of the market gets a considerable push.
The global precast concrete market is segmented on the basis of product, application, end-user, and region.
Products include floors & roofs, columns and beams, stairs and landing, and walls. Walls are sub-segmented into solid walls, sandwich walls (thermal walls). Among these, the segment for columns and beams acquired the largest share with 32.10% in the global precast concrete market and is heading the global market in the product category.
By application, the market is segmented into structural components, architectural components, bridge components, and others. Among these, the structural components segment accounted for the largest share of 39.11% in the global precast concrete market.
End-use segments included in the market are residential, non-residential and agriculture, where the non-residential segment accounted for 69.27% market share in 2017.
From a region-based perspective, the precast concrete market states a detailed description of the Asia Pacific, North America Europe, along with the Rest-of-the-World.
Asia Pacific dominated the market with a share of 43.45% in 2017. It accounted for 448.89 million tonnes in 2017 and is bound to grow at the highest CAGR of 5.52% from 2018 to 2023. North America stood in the second position with the second-largest market share, which accounted to 25.09% in 2017.
The North America precast concrete market is driven by several factors like consumer preference for green buildings and sustained investments in commercial real estate. Meanwhile, precast concrete components will be favored over other building materials because of their durability and longer lifespans.
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Table of Contents
1 Executive Summary
2 Market Introduction
2.2 Scope of the Study
2.3 Market Structure
2.4 Key Takeaways
2.5 Macro Factor Indicators Analysis
2.6 List of Assumptions
3 Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model
4 Market Dynamics
4.2.1 Increasing Investment in Construction Industry
4.2.2 Urbanization Leading to Rise in Construction Activities
4.2.3 Reduced Construction Waste
4.2.4 Drivers Impact Analysis
4.3.1 Economic Downturn in Major Regions
4.3.2 Fluctuating Raw Material Prices
4.3.3 Restraints Impact Analysis
4.4.1 Scope in Emerging Economies
5 Market Factor Analysis
5.1 Supply Chain Analysis
5.1.1 Design and Development
5.1.2 Raw Material Supply
5.1.3 Precast Concrete Manufacturing
5.2 Porter’s Five Forces Model
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