NEW YORK, Dec. 21, 2015 /PRNewswire/ -- The global precast/prefabricated construction market is estimated to register a CAGR of 6.50% for the next five years. The growth of this market is propelled by the increased demand for new constructions throughout the world, especially in Asia-Pacific due to increasing urbanization and industrialization. In addition, the cost-effectiveness and time saving features of precast/prefabricated construction technique are attracting the end-use sectors significantly for its consumption.
With emergence of new technologies, contractors and consumers are looking for advanced and sustainable constructions, which are natural resource-efficient. Asia-Pacific is expected to be the largest market for precast/prefabricated construction owing to the growing population, increasing disposable income, and changing lifestyle of the citizens.
Residential sector as an end-use segment is expected to dominate the global precast/prefabricated construction market among all end-use sectors. Precast/prefabricated wall segment is projected to hold the largest market share among all product types during the forecast period. Similarly, the modular construction segment will dominate the precast/prefabricated construction market among all construction types from 2015 to 2020.
This report provides a comprehensive analysis of key companies and competitive analysis of developments recorded in the industry during the past five years. The leading players of the market, such as ACS Actividades de Construccion y Servicios (Spain), Komatsu Ltd. (Japan), Bouygues Construction (France), Larsen & Toubro Limited (India), Taisei Corporation (Japan), and Balfour Beatty Plc (U.K.) have been profiled to provide an insight of the competitive scenario in the precast/prefabricated construction market.
This report analyzes various market trends and identifies market dynamics, such as drivers, restraints, opportunities, and challenges. The key players adopted both organic and inorganic growth strategies, though the inorganic growth strategies, such as contracts, collaborations, partnerships & agreements, and merger & acquisitions were more widely adopted by the companies to increase their presence in the market. Companies have also adopted strategic expansions and investments to bridge the existing gaps in their product offerings, end market requirements, and geographical constraints. These strategies have been adopted by leading companies to ensure retention of considerable market share within the highly competitive precast/prefabricated construction market. These companies aimed at strengthening their position in the developed markets of Europe and North America and also develop a strong foothold in the growing precast/prefabricated construction markets of the Asia-Pacific region and the Middle East. Major players have invested considerably to acquire construction facilities and businesses of local as well as established market players to reinforce their market position in the particular region.
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