The precast concrete market size is projected to grow at a CAGR of 5.96% during the forecast period, that is, 2017 to 2022, and reach USD 138.96 billion by 2022. The precast concrete market is driven by factors such as increasing urban population, increasing industrialization, and large-scale investments in the industrial and infrastructure sectors.
Currently, Asia Pacific is the largest consumer of precast concrete products, with China, India, Japan, Indonesia, and Australia being the major markets. The Asia Pacific precast concrete market is projected to register the highest CAGR during the forecast period. The growth of the building & construction industry and improvements in financial conditions in the region have led to the increase in demand for precast concrete elements.
#Table of Content 1 Introduction 2 Research Methodology 3 Executive Summary 4 Premium Insights 5 Market Overview 6 Industry Insights 7 Precast Concrete Market, By Element 8 Precast Concrete Market, By Construction Type 9 Precast Concrete Market, By End-Use Sector 10 Precast Concrete Market, By Region 11 Competitive Landscape 12 Company Profiles
The research methodology used to estimate and forecast the precast concrete market begins with capturing data on key vendor revenues through secondary research and associations such as National Precast Concrete Association, British Precast Concrete Federation, Pacific Northwest Precast Concrete Association, and Japan Prefabricated Construction Suppliers and Manufacturers Association. The vendor offerings are also taken into consideration to determine the market segmentation.
Key Target audience Raw material suppliers Original equipment manufacturers Real estate agents Architects & engineers Building contractors Logistics partners Machinery suppliers Regulatory bodies End users Market research and consulting firms
Major players in precast concrete market in Asia Pacific are Komatsu (Japan), Larsen & Toubro (India), and Taisei Corporation (Japan). Market in this region is also growing rapidly due to the presence of various small and some leading players. Elemental construction segment is projected to be the fastest-growing construction type segment during forecast period.
Primary objective of Precast Concrete Market study is to define, forecast, and segment precast concrete market on basis of element, construction type, end-use sector, and region. It also provides detailed information about key market dynamics that include drivers, restraints, opportunities, & industry-specific challenges.
Break-up of primary participants was as mentioned below: By Company Type: Tier 1 40%, Tier 2 35%, and Tier 3 25% By Designation: C-level 35%, Director Level 40%, others* 25% By Region: North America 25%, Europe 10%, Asia Pacific 40%, Middle East & Africa 15%, South America 10%
The non-residential segment dominated precast concrete market in 2016 and is projected to be the fastest-growing end-use sector over the next five years. As a result of the rising urbanization and industrialization, along with the growing demand for better quality bridges, airports, metros, and buildings among others. This market is mostly driven by the upward surge in demand for new constructions all over the world.