Global Precast Concrete Market to Reach $198.9 Billion by 2027

DUBLIN, Aug. 29, 2022 /PRNewswire/ -- The "Global Precast Concrete Market by Element (Columns & Beams, Floors & Roofs, Girders, Walls & Barriers, Utility Vaults, Pipes, Paving Slabs), Construction Type, End-use Sector (Residential, Non-residential) and Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering. 

The global precast concrete market size is projected to grow from USD 144.6 billion in 2022 to USD 198.9 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 6.6%. The production of precast concrete elements is done in controlled conditions in enclosed factories. This means that tolerances can be accurately controlled, waste can be minimised, and that a denser, stronger and better quality concrete can be produced. Apart from quality and precision, the manpower requirements are reduced tremendously. The actual construction of the buildings on site is executed in a much shorter space of time compared to in-situ constructions. This is environmentally friendly and reduces noise and dust pollution.

Relocatable buildings segment to be the third largest segment from 2022 to 2027, for precast concrete

Relocatable buildings such as manufactured homes are prefabricated and produced in factories and transported to the site. Unlike permanent modular constructions, relocatable buildings are assembled into the final structure of a building in the factory or the site of manufacture. The entire structure is attached to a permanent wheeled chassis, through which the building is transported to the site of living towed by a truck, upon the completion of the structure. This type of building is perfect for temporary living and site offices.

Wet concrete to dominate the precast concrete market through the forecast period

Wet cast concrete is a flowable form of concrete that may be poured from a mixer, hopper, or truck. Wet cast concrete is often used in the precast industry, where it is cast in forms and stripped, finished, and marked before shipping. Wet cast is often used for larger pieces that are more complex and need flowability in the concrete to consolidate around reinforcement and throughout the form. In a wet-mix application, all materials, including cement, aggregate, admixture, and water, are mixed before being pumped through a hose and pneumatically projected. Typically, a concrete truck supplies the wet mix and is pumped through a shotcrete rig for placement. Generally, the wet mix is used for large volume placements with easy access for construction vehicles.

Architectural building components to be the second fastest growing market for precast concrete through the forecast period

Architects have chosen precast concrete architectural facades for more than half a century because they offer exceptional esthetic, structural versatility, speed of enclosure, and durability. No other material combines the range of shapes, colors, textures, fire resistance, acoustical insulation, weather tightness, long-term durability, low maintenance care, and rapid enclosure. Precast wall panels include weather-tight enclosures for maximum protection against mold and mildew, and their superior structural strength makes them highly impact- and blast-resistant for maximum security. The durability of wall panel systems makes them ideal for meeting long-term construction needs.

Europe to be the second largest market for precast concrete

Europe is the second-largest market for precast concrete in the world. The market in the region has been studied for Germany, the UK, France, Russia, Italy, and the Rest of Europe (Belgium, Greece, the Netherlands, Romania, Poland, Spain, and Switzerland). Europe is a well-established market for precast concrete. Government regulations, high disposable income, and changing lifestyle of the consumers are some significant factors contributing to the high demand for precast concretes.

Market Dynamics

Drivers

• Concerns About Work-Zone Safety and Environmental Impacts
• Need for Reduced Construction Time and Cost-Effective Products
• Ease of Installation and Relocation
• Supportive Government Initiatives

Restraints

• Volatility in Raw Material Prices

Opportunities

• Population Growth and Rapid Urbanization Translating to Large Number of Construction Projects
• Rise in Renovation and Remodeling Activities Globally

Challenges

• Volatility in Transportation Charges Creating Unpredictable Business Environments
• Lack of Awareness About Precast Concrete Method

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Industry Trends

7 COVID-19 Impact on Precast Concrete Market

8 Precast Concrete Market, by Element

9 Precast Concrete Market, by Construction Type

10 Precast Concrete Market, by End-Use Industry

11 Precast Concrete Market, by Type

12 Precast Concrete Market, by Application

13 Precast Concrete Market, by Region

14 Competitive Landscape

15 Company Profiles

16 Appendix

 Companies Mentioned

• Atco Concrete Products N.V.
• Balfour Beatty plc
• Beaver Gulf Precast Concrete
• Boral Limited
• Cemex S.A.B. De C.V.
• Coltman Precast Concrete Ltd.
• Consolis
• Crh plc
• Devinci Precast
• Forterra, Inc.
• Gulf Precast Concrete Company L.L.C.
• Julius Berger Nigeria plc
• Katerra
• Lafargeholcim Ltd
• Laing O'rourke
• Mackay Precast Products
• Metromont Corporation
• Mse Precast Ltd.
• Oldcastle Infrastructure, Inc.
• Preca Solutions India Private Limited
• Skanska Ab
• Smeet Precast
• The Precast Group
• Tindall Corporation
• Vme Precast Private Limited

For more information about this report visit https://www.researchandmarkets.com/r/ak6me4

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SOURCE Research and Markets