To reduce construction project lead time and cost is one of the key factors for the growth of the precast concrete market

Description

Precast Concrete Market- by Element (Floors & Roofs, Walls & Barriers, Columns & beams, Utility Vaults, Girders, Pipes and Paving slabs), by Construction Type (Elemental Construction, Permanent modular buildings, and Relocatable Buildings), by End-Use (Non-residen Sizing, Growth, Trend, Opportunity, and Forecast (2020–2025).

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The precast concrete market report covers a thorough analysis of the market dynamics, business models, segmental/regional analysis, and respective market shares and strategies adopted by the key market players operating globally. It entails an in-depth analysis of the factors influencing the global market and market statistics indicating region wise and segment-wise market share/growth analysis. The report's study will outlook one of the most exhaustive analyses of the market, capturing all the aspects of the precast concrete market

Precast Concrete Market Introduction

The Precast Concrete Market size is USD 115.3 billion in 2019 and is expected to register a CAGR of 6.3% during the forecast period (2020-2025). The gradual shift of building contractors and consumers toward cost-efficient, eco-friendly, and modern building techniques creates growth opportunities for the precast concrete market. The increasing disposable income of people in developing countries and the changing preferences of construction methods are increasing the reliance on modern construction techniques, which drive the precast concrete market growth.

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Factors Affecting the Precast Concrete Industry Over the Forecast Period-

• An increase in population and rapid urbanization, which leads to growth in infrastructure investment and industrialization translating to a large number of new construction projects, will fuel the precast concrete market
• To reduce construction project lead time and cost is one of the key factors for the growth of the precast concrete market
• Ease of removal and installation is one of the key benefit associated with the precast concrete
• Due Economic downturn in major regions created a significant challenge for the industry to overcome the economic crisis
• One of the major opportunity for the Precast Concrete sector is the rise in new construction projects in the emerging economies
• Lack of awareness about the precast concrete method among end-users is one of the industry's threats, which hampers the precast concrete market growth

Impact of COVID-19 on Precast Concrete Market:

The precast concrete market has a major impact due to the coronavirus COVID-19 outbreak. The global economy has disturbed so much, which affects the investment in advanced technologies such as precast concrete. Also, due to the shutdown of operations, construction companies had a huge loss that may affect the precast concrete market. It is expected that post-COVID-19, the market will take a V-recovery pattern during the forecast period.

Scope of the Report

The report outlines the global Precast Concrete Market study based o element,construction type and end-user

Based on the element, the precast concrete market has been segmented into –

• Floors & Roofs
• Walls & Barriers
• Columns & Beams
• Utility Vaults
• Girders
• Pipes
• Paving Slabs

Based on the construction type, the precast concrete market has been segmented into –

• Elemental construction
• Permanent modular buildings
• Relocatable buildings

Based on the end-user, the precast concrete market has been segmented into –

• Non-residential
• Residential

Precast Concrete Market: Regional Outlook

Based on the region, the global Precast Concrete Market has been segmented into five geographical regions, namely, North America, Asia Pacific, Europe, South America, and the Middle East and Africa. In 2019, North America held the largest share of the total global Precast Concrete Market, followed by Asia-Pacific and Europe. Moreover, Asia Pacific is expected to grow with a high CAGR over the forecast period.

Precast Concrete Market: Key Competitors–

The global precast concrete market is fairly consolidated, with the presence of key players across the globe. The key player operating in the global precast concrete market are

• Actividades De Construccion Y Servicios, S.A.
• Atco Group
• Balfour Beatty PLC
• Bouygues Construction
• Cemex S.A.B. De C.V.
• CRH PLC
• Julius Berger Nigeria PLC
• Kiewit Corporation
• Laing O'rourke
• Larsen & Toubro Limited
• Red Sea Housing Services
• Skanska Ab
• Taisei Corporation

The precast concrete market report provides a thorough analysis of macro-economic factors and every segment's market attractiveness. The report will include an in-depth qualitative and quantitative assessment of segmental/regional outlook with the market player’s presence in the respective segment and region/country. The information concluded in the report includes the inputs from the primary interviews with industry experts.

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