Global Precast Concrete Market Growth Rate, Trends, Analysis, Future scope, Size, Share - 2023

Precast concrete market is on its way to be worth the value of USD 103,666.1 Million & CAGR of 5.36% by 2023.

Global precast concrete marketis on its way to be worth the value of USD 103,666.1 Million by 2023, surpassing the value of USD 76,200.7 Million in 2017. The market will be registering a strong CAGR of 5.36% during the forecast period (2018-2023). Market Research Future (MRFR) has come up with a report that offers an all-extensive look at the segments as well as the market drivers holding the power to change the market landscape. The precast concrete market has noted sturdy growth backed by the advancing degree of industrialization, urbanization, as well as infrastructural developments. Furthermore, there has been a rapid shift of consumers along with building contractors toward cost-efficient, eco-friendly, and modern building techniques that offers a variety of growth opportunities for the precast concrete market.

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The rising adoption of the smart city concept will be one of the latest trends that will contribute growth for the precast concrete market. The growing preference of the people to live in urban locations, induces the governments of the countries around the world to focus on initiatives such as smart cities to improve the life of urban people. These initiatives will aim at developing plans for intelligent networking of energy, water supplies, lighting, and mobility systems.

Prominent players profiled in the precast concrete market:

SKANSKA AB (Sweden), Jensen Precast (U.S.), Molin Concrete Products Company, Inc. (U.S.), Tindall Corporation (U.S.), Coreslab Structures (U.S.), CRH (U.S.), Coltman Precast Concrete Limited (U.K.), HeidelbergCement AG (Germany), Metromont Corporation (U.S.), SMEET (Qatar), Taiheiyo Cement (Tokyo), and Larsen & Toubro Limited (India) are among others.

Intended Audience:

• Precast Concrete Manufacturers
• Suppliers and distributors
• Raw material suppliers
• End Use Industries
• Associations and Government Agencies
• Building contractors
• Machinery Suppliers

Precast Concrete Market Segmentation:

The global precast concrete market is segmented on the basis of product, application, end-user, and region. By product, the market is segmented into floors & roofs, columns and beams, stairs and landing, and walls which are sub-segmented into solid walls, sandwich walls (thermal walls). Application-wise, the market is segmented into structural components, architectural components, bridge components, and others. Lastly, the end-use segments in the global market are residential, non-residential and agriculture.

Regional Analysis:

Region-centered segments in the precast concrete market include North America, Asia Pacific, Europe and the rest of the world. Asia Pacific is leading the market with a share of 43.45%, having accounted for 448.89 million tonnes in 2017 and is projected to grow at the highest CAGR of 5.52% during the forecast period. North America is the second-largest region with a market share of 25.09% in 2017.

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