May 24, 2022 05:00 ET | Source: Market Study Report Market Study Report
Pune, India, May 24, 2022 (GLOBE NEWSWIRE) -- According to MarketStudyReport, that global precast concrete market was worth USD 85890 million in 2021 and is anticipated to increase at 4.8% CAGR over 2022-2028 to amass USD 119020 million by the year 2028.
Furthermore, the literature identifies growth drivers as well as bottlenecks that affect industry dynamics. It also contains in-depth studies on type, application, and regional segmentation in order to discover the potential prospects. It then looks at the competitive landscape of the vertical by profiling the leading companies in terms of their product portfolios, market share, and financials.
Rising demand in residential and commercial construction, as well as preference for cost-effective & low-maintenance building products are the major growth stimulants for the industry.
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For the unversed, precast components are manufactured in factories under controlled environment enabling customization and real-time monitoring. It uses fewer easily available raw materials like steel, cement, water, human labor, and energy with minimal wastage. Higher quality, lessened construction time, and reduced environmental impact are boosting the product demand.
Furthermore, several government initiatives towards development of industrial and commercial infrastructures, and increase in renovation & remodeling activities are expected to augment the industry outlook during the forecast years.
On the downside, uncertainty in raw material prices as well as transportation cost are challenges that need to be handled by manufacturers to ensure constant profit inflow.
The advent of COVID-19 outbreak has negatively impacted the raw material production, supply chain, trade movements, construction demand, and delayed new projects, which in turn has hampered the worldwide precast concrete market in the recent past.
In terms of type terrain, the industry is divided into pipes, girders, utility vaults, columns & beams, walls & barriers, floors & roofs, and paving slabs. Among these, the columns & beams segment is anticipated to witness a robust demand in the coming years, due to soaring residential constructions and rapid urbanization.
Based on application ambit, the market is branched into non-residential and residential. Out of these, the non-residential segment is slated to see exponential growth through 2028, because of rising investments in new commercial construction projects as well as features like minimal maintenance, cost-effectiveness, and faster building time.
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Asia Pacific industry held a major revenue share in the recent past, owing to flourishing construction industry, growing population, and rapid urbanization in the region. The regional expansion is further attributed to development of new buildings, with enhanced energy-efficient solutions in residential and commercial sectors.
Global Precast Concrete Market, by Type (Revenue, USD Million, 2017-2028)
Global Precast Concrete Market, by Application (Revenue, USD Million, 2017-2028)
Global Precast Concrete Market, Geographical Fragmentation (Revenue, USD Million, 2017-2028)
Global Precast Concrete Market, Company Profiles (Revenue, USD Million, 2017-2028)
1.5 Research Process and Data Source
2.2 Precast Concrete Segment by Type
2.3 Precast Concrete Sales by Type
2.4 Precast Concrete Segment by Application
2.5 Precast Concrete Sales by Application
3 Global Precast Concrete by Company
3.1 Global Precast Concrete Breakdown Data by Company
3.2 Global Precast Concrete Annual Revenue by Company (2020-2022)
3.3 Global Precast Concrete Sale Price by Company
3.4 Key Manufacturers Precast Concrete Producing Area Distribution, Sales Area, Product Type
4 World Historic Review for Precast Concrete by Geographic Region
4.1 World Historic Precast Concrete Market Size by Geographic Region (2017-2022)
4.1.1 Global Precast Concrete Annual Sales by Geographic Region (2017-2022)
4.1.2 Global Precast Concrete Annual Revenue by Geographic Region
4.2 World Historic Precast Concrete Market Size by Country/Region (2017-2022)
4.2.1 Global Precast Concrete Annual Sales by Country/Region (2017-2022)
4.2.2 Global Precast Concrete Annual Revenue by Country/Region
4.3 Americas Precast Concrete Sales Growth
4.4 APAC Precast Concrete Sales Growth
4.5 Europe Precast Concrete Sales Growth
4.6 Middle East & Africa Precast Concrete Sales Growth
9 Market Drivers, Challenges and Trends
9.1 Market Drivers & Growth Opportunities
10.2 Manufacturing Cost Structure Analysis of Precast Concrete
10.3 Manufacturing Process Analysis of Precast Concrete
10.4 Industry Chain Structure of Precast Concrete
12 World Forecast Review for Precast Concrete by Geographic Region
Precast Concrete Market Size By Element (Building & Structural [Beams & Columns, Floor & Roofs, Wall], Transportation Products, Water & Wastewater Management Products, Utility & Industrial Products), By Sector (Residential, Non-residential, Infrastructural), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trend, Competitive Landscape & Forecast, 2021 - 2027
The global precast concrete market is set to register notable expansion by 2027 owing to rapid urbanization in key regions. Moreover, increasing emphasis on sustainable construction practices is likely to propel market growth over the forecast period. Precast concrete refers to reinforced concrete that is made with certain recycled materials, including fuel ash and blast furnace slag. It is cast away from the building site and assembled on site. It is used in numerous applications ranging from foundation walls, fences, and bridge beams to decorative applications like furniture, planters, countertops, and so forth. About US:
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