Embedded Files
According to Fortune Business Insights, The global precast concrete market size was valued at USD 151.49 billion in 2024. The market is projected to grow from USD 160.53 billion in 2025 to USD 246.07 billion by 2032, at a CAGR of 6.3% during 2025-2032. Asia Pacific dominated the precast concrete market with a market share of 38.52% in 2024. Concrete is precast using reusable molds in a process that takes place off-site within a controlled setting, ensuring that the concrete cures optimally and can be closely supervised.
Precast concretes mean mold in the reusable form which can be used to provide a superior level of resistance to insects and mold, or natural disasters, or in case of fires. Unlike other building material, precast concrete is resistant to termites, requires low maintenance, and meager insurance costs. As per a report by Fortune Business Insights, titled, “Precast Concrete Market Size, Share & Industry Analysis, By Product Type (Columns & Beams, Girders, Floors & Roofs, Walls & Barriers, Pipes, Paving Slabs, and Others), By Application (Building Components, Transportation, Water & Waste Handling, and Others), By Type (Wet Concrete and Dry/Semi-dry Concrete), By End-Use (Residential, Commercial, Industrial, and Infrastructure {Tunnels, Roads & Bridges, Wind Towers, and Others}), and Regional Forecast, 2025-2032.”
Get a Sample PDF Report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/precast-concrete-market-103301
Some of the Key Players of the Market for Precast Concrete include:
Oldcastle Precast (U.S.)
Balfour Beatty(U.K.)
Bouygues Construction(France)
Elementbau Osthessen GmbH & Co., ELO KG (Germany)
Spancrete (U.S.)
Tindall Corporation (U.S.)
Forterra (U.S.)
CEMEX (Mexico)
Larson & Turbo Limited (India)
Olson Precast Company (U.S.)
Other players
Drivers & Restraints-
Increasing Demand for Commercial and Residential Spaces to Propel Growth
Increasing population, growing industries and businesses, and the rising need for residential and commercial spaces are the key factors promoting the precast concrete market growth. In addition to this, rapid urbanization and industrialization have propelled the demand for construction activities. This has led to a rise in the expenditure for construction activities, thereby augmenting growth.
The demand for precast concrete is growing, driven by urbanization and increased construction activities. The construction industry's shift toward sustainable, economical, and modern building techniques is contributing to this growth. Additionally, the expansion of construction projects in developing nations, aimed at improving infrastructure, is expected to further propel the market for precast concrete.
On the contrary, certain drawbacks may pull down this market in the future. These include the environmental and health concerns concerning cement manufacturing. It is believed that cement production releases many gases such as sulfur dioxide, carbon monoxide, and nitrogen oxide into the atmosphere. This may result in numerous environmental impacts such as global warming, depletion in the quality of water, and acid rain, among others. Besides this, there are several health issues such as visual impairment, asthma, and various cardiovascular diseases that may cause hindrance to the overall market in the coming years.
Segment:
Building Components Segment Earned Major Share Attributed to Utilization in Construction Projects
Based on segmentation by product type, the building components segment gained the largest precast concrete market share. Growth of this segment is attributable to the increasing demand for cost-efficient quality houses at affordable prices that propelled a rise in the number of construction projects.
Regional Analysis-
Asia Pacific to Emerge Dominant on Account of Rising Investments in Infrastructural Development
Geographically, Asia Pacific earned a revenue of USD 46.97 billion in the year 2019 and received the largest precast concrete market share. This is attributable to the increasing investments on infrastructural development by emerging nations such as India, China, and Japan in the forecast duration that will propel the demand for precast concrete in the regional market. Europe ranks second on account of the increasing use of precast concrete products for commercial and industrial construction projects.
The Report Answers the Following Queries:
What is the nature of the market?
Who are the key players of the market for precast concrete, and what is their strategy?
How will urbanization contribute to the growth of the market?
What are the recent industry developments in this market?
Competitive Landscape-
Players Focusing on Geographical Expansion for Gaining Significant Position in Market
The global market for precast concrete is fragmented as the number of players is many. Some of them are investing heavily on material supply and other partnership strategies to gain a competitive edge in the market. Others are planning on expanding their brand presence geographically to draw significant revenues to the market.
Information Source: https://www.fortunebusinessinsights.com/precast-concrete-market-103301
Major Industry Developments of the Market for Precast Concrete Include:
November 2024: Boral collaborated with the Gamuda and Laing O’Rourke Consortium (GLC) to develop an innovative precast mix aimed at reducing the embodied carbon footprint of the Sydney Metro West project. This mix incorporates 50% supplementary cementitious material (SCM), an Australian first for precast tunnelling segment production.
October 2024: Larsen & Toubro (L&T) reached a significant milestone in the construction of the Delhi-Meerut RRTS, with the completion of casting for the final 6290 precast box segments for Package 7 of the project.
Page updated
Google Sites
Report abuse