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Global Precast Concrete Market Forecast to 2028 - COVID-19 Impact and Analysis

·9-min read

Dublin, July 28, 2021 (GLOBE NEWSWIRE) -- The "Precast Concrete Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Structure System; End use and Geography" report has been added to ResearchAndMarkets.com's offering.

The precast concrete market was valued at US$ 134.68 billion in 2020 and is projected to reach US$ 223.97 billion by 2028; it is expected to grow at a CAGR of 6.56% during 2020-2028. Precast concrete materials are precasted and prefabricated at the time of manufacturing. Then, they are assembled and molded at the construction site. Such structures enhance construction speed and improve productivity, as well as they help to significantly monitor cost and quality. With the growing need for cost-effective and safe material, the demand for precast concrete is rising. Further, such form of structures is considered as a sustainable building material as it can significantly be reused or remolded, which helps in reducing their impact on environment. The growing adoption of green and modular construction material is expected to proliferate the demand for precast concrete products in the construction sector.

By structure system, the precast concrete market is segmented into beam and column system, floor and roof system, bearing wall system, facade system, and others. In 2020, the beam and column system segment dominated the market. The market for this segment is expected to grow at the fastest rate during the forecast period owing to the rising demand for beams and columns for commercial purpose buildings. Based on end use, the precast concrete market is segmented into residential, commercial, and others. The commercial segment led the market in 2020, and the market for this segment is anticipated to grow rapidly during the forecast period owing to the growing investments in new commercial infrastructural projects.

Geographically, the precast concrete market is segmented into North America, Europe, Asia Pacific (APAC), South America (SAM), and Middle East & Africa (MEA). In 2020, Asia Pacific contributed to the largest share in the global precast concrete market. The dominance of the region is primarily attributable to the presence of strong industrial base with prominent manufactures significantly contributing to market growth. Rising focus toward sustainable and modular construction along with significant investment in renovation activities across countries such as China, Japan, Indonesia, and India provide lucrative opportunities for the growth of the precast concrete market in Asia Pacific. Further, a few factors such as rapid urbanization along with the growing residential and commercial infrastructural sectors, easy accessibility and availability of raw material and cheap labor, and low production cost drive the market growth in Asia Pacific.

The COVID-19 pandemic is adversely affecting the economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. COVID-19 outbreak disrupted the precast concrete market as there was a slowdown in the production of raw material, restrictions on supply chain and trade movements, decrease in construction demand, and decline in new projects. However, the need for healthcare and quarantine buildings/units is rising due to an increase in the number of COVID-19 cases. This scenario is propelling the demand for modular buildings, which is driving the growth of the precast concrete market. The outbreak has distorted operational efficiency and disrupted the value chains owing to the sudden shutdown of national and international boundaries, creating revenue loss and damage. The disturbed value chain hindered the supply of raw material. However, as the economies are planning to revive their operations, the demand for precast concrete is expected to rise globally in the coming months. Government initiatives such as Atmanirbhar Bharat, Saudi Vision 2030, and Asia-Pacific Vision 2050 are involved in boosting their economies by improving the infrastructure and construction sectors, along with providing housing facilities to every citizen. Significant investments by prominent companies in the development of advanced products are further expected to support the market growth.

Abetong AB, Boral, Cemex S.A.B. DE C.V., Consolis, ELO Beton, Forterra, Gulf Precast, Lafargeholcim, Tindall Corporation, and Spancrete are among the major players operating in the global precast concrete market.

Reasons to Buy

  • Highlights key business priorities to assist companies realign their business strategies.

  • Features key findings and crucial progressive industry trends in the global precast concrete market, thereby allowing players to develop effective long-term strategies.

  • Develops/modifies business expansion plans by using substantial growth offering from developed and emerging markets.

  • Scrutinizes in-depth market trends as well as key market drivers and restraints.

  • Enhances the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.

Key Topics Covered:

1. Introduction

2. Key Takeaways

3. Research Methodology

4. Precast Concrete Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.2.2 Europe
4.2.3 APAC
4.2.4 MEA
4.2.5 SAM
4.3 Expert Opinion

5. Precast Concrete Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Need for Cost-Effective, Safe, and Eco-Friendly Products
5.1.2 Rise in Renovation and Remodeling Activities Globally
5.2 Market Restraints
5.2.1 Volatility in Raw Material Prices
5.3 Market Opportunities
5.3.1 Supportive Government Initiatives
5.4 Future Trends
5.4.1 Significant Investment in Innovation and Product Development
5.5 Impact Analysis of Drivers and Restraints

6. Precast Concrete - Global Market Analysis
6.1 Precast Concrete Market Overview
6.2 Precast Concrete Market -Revenue and Forecast to 2028 (US$ Billion)
6.3 Market Positioning - Global Market Players

7. Global Precast Concrete Market Analysis - By Structure System
7.1 Overview
7.2 Global Precast Concrete Market Breakdown, by Structure system, 2020 & 2028
7.3 Beam and Column System
7.3.1 Overview
7.3.2 Beam and Column System: Global Precast Concrete Market, Revenue and Forecast to 2028 (US$ Billion)
7.3.3 Beam and Column System: Global Precast Concrete Market, Revenue and Forecast to 2028 (US$ Billion)
7.4 Floor and Roof System
7.4.1 Overview
7.4.2 Floor and Roof System: Global Precast Concrete Market, Revenue and Forecast to 2028 (US$ Billion)
7.4.3 Floor and Roof System: Global Precast Concrete Market, Revenue and Forecast to 2028 (US$ Billion)
7.5 Bearing Wall System
7.5.1 Overview
7.5.2 Bearing Wall System: Global Precast Concrete Market, Revenue and Forecast to 2028 (US$ Billion)
7.5.3 Bearing Wall System: Global Precast Concrete Market, Revenue and Forecast to 2028 (US$ Billion)
7.6 Facade System
7.6.1 Overview
7.6.2 Facade Systems: Global Precast Concrete Market, Revenue and Forecast to 2028 (US$ Billion)
7.6.3 Facade Systems: Global Precast Concrete Market, Revenue and Forecast to 2028 (US$ Billion)
7.7 Others
7.7.1 Overview
7.7.2 Others: Global Precast Concrete Market, Revenue and Forecast to 2028 (US$ Billion)
7.7.3 Others: Global Precast Concrete Market, Revenue and Forecast to 2028 (US$ Billion)

8. Global Precast Concrete Market Analysis - By End Use
8.1 Overview
8.2 Global Precast Concrete Market Breakdown, by End Use, 2020 & 2028
8.3 Residential
8.3.1 Overview
8.3.2 Residential: Global Precast Concrete Market, Revenue and Forecast to 2028 (US$ Billion)
8.3.3 Residential: Global Precast Concrete Market, Revenue and Forecast to 2028 (US$ Billion)
8.4 Commercial
8.4.1 Overview
8.4.2 Commercial: Global Precast Concrete Market, Revenue and Forecast to 2028 (US$ Billion)
8.4.3 Commercial: Global Precast Concrete Market, Revenue and Forecast to 2028 (US$ Billion)
8.5 Others
8.5.1 Overview
8.5.2 Others: Precast Concrete Market - Revenue and Forecast to 2028 (US$ Billion)

9. Precast Concrete Market - Geographic Analysis

10. Impact of COVID-19 Pandemic on Global Precast Concrete Market
10.1 Impact of COVID-19 on Precast Concrete Market
10.2 North America: Impact Assessment of COVID-19 Pandemic
10.3 Europe: Impact Assessment of COVID-19 Pandemic
10.4 APAC: Impact Assessment of COVID-19 Pandemic
10.5 Middle East & Africa: Impact Assessment of COVID-19 Pandemic
10.6 South America: Impact Assessment of COVID-19 Pandemic

11. Company Profiles
11.1 Abetong AB
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Boral
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 CEMEX S.A.B. de C.V.
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 Consolis
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 ELO Beton
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 Forterra
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 GULF PRECAST
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
11.8 LafargeHolcim
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.8.6 Key Developments
11.9 Tindall Corporation
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Products and Services
11.9.4 Financial Overview
11.9.5 swot Analysis
11.9.6 Key Developments
11.10 Spancrete
11.10.1 Key Facts
11.10.2 Business Description
11.10.3 Products and Services
11.10.4 Financial Overview
11.10.5 SWOT Analysis
11.10.6 Key Developments

12. Appendix

For more information about this report visit https://www.researchandmarkets.com/r/bg04si

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