Precast Concrete Market Report 2027: Regional Trends and Industry Analysis
North America precast concrete market is anticipated to generate more than 17% of the overall market revenue share through 2027 driven by the fast-growing commercial construction sector. According to the Federal Reserve Economic Data (FRED), the total nonresidential construction spending in the U.S. was valued at USD 788,587 as of August 2021. Several favorable government policies have been initiated for the usage of eco-friendly and advanced materials in transportation & infrastructure projects. The escalating need for restructuring old establishments will also drive the regional industry dynamics.
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Precast concrete products are also increasingly utilized in multi-cell tanks, wall panels, chambers, and water treatment systems to offer longevity and safety measures. However, the transportation issues associated with the finished products and fluctuating raw materials costs may restrict the business growth to some extent.
On account of its high performance, optimum protection ability, and lower environmental impacts over other materials, precast concrete has emerged as a crucial component across the building & construction sector. Other than providing maximum strength and durability, it offers large load-bearing capacities whilst ensuring a high level of precision and detailing, adding to its application in commercial wastewater treatment systems across developing countries.
Global precast concrete market will witness substantial expansion owing to the rising expenditure in water as well as wastewater treatment sectors. The fast-growing new housing and infrastructure sector, mainly in the Asia Pacific has steered the need for sustainable buildings. The growing requirement for water filtration for protecting the natural water bodies will also add positive impetus to the market growth.
Demand for different types of precast concrete in the non-residential sector could observe a CAGR of 5.6% up to 2027. The growth is ascribed to rising preference for lightweight, heatproof, as well as anti-corrosive materials in non-residential buildings, including parking spaces, commercial complexes, airports, offices, and malls.
Holcim, Tindall Corporation, HEIDELBERGCEMENT AG, ELO Beton, Spancrete, CEMEX S.A.B. de C.V., Gulf Precast Concrete Co., LLC, Olson Precast Company, Julius Berger Nigeria Plc, Boral, CRH plc, Balfour Beatty, Laing O’Rourke, and Larsen & Toubro, are other well-known industry participants.
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Data Tables
TABLE 1 Global precast concrete market estimates & forecast (Million Meter Cube) (USD Million), 2017 - 2027
TABLE 2 Global precast concrete market volume estimates & forecast by element, (Million Meter Cube), 2017 - 2027
TABLE 3 Global precast concrete industry revenue estimates & forecast by element, (USD Million), 2017 – 2027
TABLE 4 Global precast concrete industry volume estimates & forecast by sector, (Million Meter Cube), 2017 - 2027
TABLE 5 Global precast concrete industry revenue estimates & forecast by, sector, (USD Million), 2017 - 2027
TABLE 6 Global precast concrete market volume estimates & forecast by region, (Million Meter Cube), 2017 - 2027
TABLE 7 Global precast concrete industry revenue estimates & forecast by region, (USD Million), 2017 - 2027
TABLE 8 Patent analysis
TABLE 9 Industry impact forces
TABLE 10 Strategy dashboard
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