Precast Construction Market Size 2022 World Technology, Development, Trends and Opportunities Research Report to 2030

 Precast Construction Market Overview: According to a Comprehensive Research Report by Market Research Future (MRFR) “Precast market – Information by product, type, application, region – forecast to 2027 ” The market is expected to reach $ 185.45 billion at a CAGR of 6.23% by 2027.

Market trends for precast construction

According to the new MRFR report, there are numerous factors driving the global precast market share. Some of these are the increasing investment in the construction industry, the improvement of financial conditions in emerging countries in the MEA and APAC region, reduced product maintenance, easy installation, shortened construction time, high durability and improved quality of the precast method, rapid urbanization and industrialization in emerging countries Brazil, South Korea, India and China as well as activities such as renovation, refurbishment and rebuilding of old buildings.

On the contrary, a low level of customer confidence in precast elements in earthquake-prone regions, the lack of suitable infrastructure facilities and the lack of qualified workers can limit the global market value for precast elements in the forecast period.

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Major dominating players in the precast construction market are:

• Balfour Beatty (Great Britain)
• Bouygues Bau (France)
• Julius Berger Nigeria Plc. (Nigeria)
• Kiewit Corporation (USA)
• Komatsu Ltd (Japan)
• OTHER O’ROURKE (UK)
• Larsen & Toubro Limited (India)
• Taisei Corporation (Japan)
• Housing services on the Red Sea (Saudi Arabia)
• Elematic (India)
• Cemex SAB de CV (Mexico)
• CRH plc (Ireland)
• Coltman Precast Concrete Limited (UK) and
• Forterra Building Products Limited (UK). amongst other things.

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COVID-19 analysis

The ongoing COVID-19 outbreak has had a drastic impact on the construction industry due to delayed construction projects and the halt in construction activity. In addition, the slowdown in the global economy due to government lockdowns has forced companies to rethink their investment strategies, which is also having an impact on market growth. The production stop of construction products for the rapid spread of the deadly virus as well as the postponement or cancellation of renovation, conversion and refurbishment of old buildings is also having an impact on the global growth of the precast market.

Market segmentation

The MRFR report highlights a comprehensive analysis of the global precast industry based on application, design and product.

By products, the global Precast Components Market is segmented into Paving Slabs, Lintels, Beams, Stairs, Walls, Floors and Roofs, Pillars and Beams, and others. The columns and beams product segment will lead the market in the forecast period.

By design, the global market for precast elements is divided into prefabricated houses and modular construction. Of these, the modular construction segment will dominate the market for early return on investment, improved quality and the growing need for shorter construction times in the forecast period.

Depending on the application, the global market for precast elements is divided into infrastructure, industry, trade and residential. Of these, the infrastructure applications segment will lead the market for the booming construction sector in emerging countries in the forecast period.

Regional analysis

APAC remains the market leader in the precast market

The global market for precast construction is geographically divided into Europe, North America, South America, the Asia-Pacific region and the Middle East and Africa (MEA). Among these, the APAC region will remain dominant in the forecast period. Growth of the construction industry, growing population, increasing per capita disposal income, growing demand for hospitals, schools, shopping malls, hotels, corporate spaces and others, increasing urbanization and infrastructure development in Indonesia, China and India contribute to the global growth of the precast construction market in the region. Additional factors driving market growth include increasing industrialization, lifestyle improvements, higher investment in housing plans, shorter construction periods, inexpensive methods, and favorable government regulation policies. In addition, there are increasing investments in the construction and construction industry, state-subsidized social housing construction, an increasing need for prefabricated parts, increased activities such as renovation, refurbishment and conversion of old buildings and the existence of a well-established industrial base. Market growth.

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North America holds the second largest share of the precast market

In North America, the global precast market is expected to hold the second largest share and a high CAGR in the forecast period. The preference of prefabricated parts over other building materials for longer life, durability and improved quality, combined with the increasing popularity of prefabricated components, contributes to the worldwide sales of the prefabricated construction market in the region.

In Europe, admirable growth is forecast for the global precast market in the forecast period.

In MEA and South America, solid growth is forecast for the global precast market in the forecast period.

The global precast construction market is fragmented and highly competitive due to the presence of a number of international and national key players. These players have pursued multiple strategies to stay on the forefront and also meet the growing needs of consumers, including partnerships, collaborations, geographic expansion, contracts, joint ventures and new product launches, and more. In addition, these players are also making heavy investments in R&D activities in order to strengthen their portfolios and also gain a foothold in the market.

Industry updates

May 2021 – The O’Reilly Group recently opened their new facility in County Cavan, Ireland, to manufacture prefabricated walls.

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Segmentation of the Market Covered In Research:

Information by product (columns and beams, floors and roofs, walls, stairs, beams, lintels, paving slabs and others), type of construction (modular construction and prefabricated houses), application (residential, commercial, industrial and infrastructure), region (North America , Europe, Asia-Pacific and Rest of the World)

About the future of market research:

Market Research Future (MRFR) is a global market research firm that prides itself on its services and offers complete and accurate analysis in relation to various markets and consumers worldwide. Market Research Future has the outstanding goal of offering customers optimal research quality and granular research. Our market research studies for products, services, technologies, applications, end-users, and market participants for global, regional, and country-specific market segments enable our customers to see more, know more, and do more to answer your key questions.