The
global precast concrete market size is expected to reach
USD 130.11 billion by 2025, according to a report by Grand View Research, Inc.,
registering a CAGR of 6.1% during the forecast period. Rapid urbanization and
population explosion have triggered real estate development in emerging
countries such as China, India, Brazil, Malaysia, and South Africa, which, in
turn, is anticipated to drive the market over the forecast period.
Precast
concrete is an advanced building material and practical solution for fast
construction. Precast construction in comparison to conventional construction
requires less time and resources. Additionally, precast construction is
eco-friendly as it emits very less CO2 in the environment
compared to normal concrete construction.
Structural
building components are anticipated to form the fastest-growing segment owing
to their extensive use in various constructions. Short construction span
offered by the product is the main growth driver for this segment.
Governments
around the globe are planning to provide affordable housing to those falling
under middle and lower class, which is anticipated to further boost residential
construction. Increasing urbanization has resulted in creating global demand
for better transportation systems. As countries develop plans to meet this
soaring demand, the transportation segment is expected to register significant
growth in the coming years, with majority demand stemming from countries such
as India and China.
Some
of the major players are investing heavily in research and development of new
and improved products with high strength. Key players are also investing in
logistics as precast products require shipping to construction sites.
Browse full
research report on Precast Concrete Market: www.grandviewresearch.com/industry-analysis/precast-concrete-market
Further key
findings from the study suggest:
- The structural building components segment is
anticipated to register the fastest growth in terms of revenue, exhibiting
a CAGR of 6.5% over the forecast period. Cost and time savings offered by
the type make it attractive for use in most construction activities
- Residential is the largest end-use segment in
the global market. Push for affordable housing by governments across the
globe is likely to spur demand for precast concrete in this segment
- Asia Pacific is expected to be the largest as
well as the fastest-growing regional market, registering a CAGR of 8.1% over
the coming years. Rapidly growing population and mega infrastructure
projects by governments in the region are expected to boost market demand
over the forecast period
- Many major players have invested in research
and development activities to develop efficient and affordable products.
Companies are also focusing on expanding their businesses in developing
countries.
Browse more
reports of this category by Grand View Research: www.grandviewresearch.com/industry/automotive-and-aerospace-interior-materials
Grand View Research has segmented the global precast concrete market on
the basis of product type, end use, and region:
Precast
Concrete Product Type Outlook (Revenue, USD Billion, 2014 - 2025)
- Structural
Building Components
- Architectural
Building Components
- Transportation
Products
- Water
& Waste Handling Products
- Others
Precast
Concrete End-use Outlook (Revenue, USD Billion, 2014 - 2025)
- Residential
- Nonresidential
- Infrastructure
Precast
Concrete Regional Outlook (Revenue, USD Billion, 2014 - 2025)
- North
America
- U.S.
- Europe
- Germany
- U.K.
- France
- Italy
- Asia
Pacific
- China
- Japan
- India
- South
Korea
- Central
& South America
- Brazil
- Middle
East & Africa
- Saudi
Arabia
Access
Press Release By Grand View Research: www.grandviewresearch.com/press-release/global-precast-concrete-market
About Grand
View Research:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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