Precast Concrete Market by Element (Columns & Beams, Floors & Roofs, Girders, Walls & Barriers, Utility Vaults), Construction Type (Elemental, Permanent Modular, Relocatable), End-use Sector (Residential, Non-residential) - Global Forecast to 2022

The overall precast concrete market is expected to grow from USD 99.13 billion in 2016 to USD 138.96 billion by 2022, at a CAGR of 5.96% from 2017 to 2022. It has been growing in accordance with the advancing degree of urbanization, industrialization, and infrastructural developments. The gradual shift of building contractors and consumers toward cost-efficient, eco-friendly, and modern building techniques is creating growth opportunities for the precast concrete market. The increasing disposable income of people in the developing countries and the changing preferences of construction methods are increasing the reliance on modern construction techniques, which drive the precast concrete market growth. The precast concrete elements are used in residential and non-residential sectors. The base year considered for the study is 2016, and the forecast has been provided for the period between 2017 and 2022.

Market Dynamics

Drivers

• Increase in population and rapid urbanization translating to a large number of new construction projects
• Growth in infrastructure investment and industrialization
• Need for reduced construction time and cost
• Increased concern toward work-zone safety and reduced environmental impacts
• Ease of installation and removal

Restraints

• Economic downturn in major regions

Opportunities

• Rise in new construction projects in the emerging economies

Challenges

• Lack of awareness about the precast concrete method among end users
• Volatility in transportation charges can create an unpredictable business environment

Need for reduced construction time and cost drives the global precast concrete market

Precast concrete construction offers significantly reduced construction time. Reduction in time also results in a reduction of human labor, which leads to cost saving. Precast components are produced in factories under a controlled environment, enabling easy adjustments and real-time monitoring. Unlike cast-in-situ construction, precast uses fewer resources such as cement, steel, water, energy, and human labor, thereby generating less waste in the factory and at the construction site. Precast construction allows parts of an entire building to be made even before the completion of the foundation for the same. Modular constructions take only four to eight weeks to be completed and assembled, while the conventional on-site constructed buildings require twice the time for construction of a similar-sized structure. Improved quality and productivity, shortened construction time, and reduced waste generation make this type of construction method cheaper, which makes it a preferable choice for end users.

The following are the major objectives of the study.

• To describe and forecast the precast concrete market, in terms of both value and volume, by element, by construction type, and by end-use sector
• To describe and forecast the precast concrete market, in terms of both value and volume, by region–Asia Pacific (APAC), Europe, North America, Middle East & Africa and South America along with their respective countries
• To provide detailed information regarding major factors influencing market growth (drivers, restraints, opportunities, and challenges)
• To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
• To study the complete value chain of precast concrete
• To analyze opportunities in the market for stakeholders by identifying the high-growth segments of the precast concrete ecosystem
• To strategically profile key players and comprehensively analyze their market position in terms of ranking and core competencies, along with detailing competitive landscape for market leaders
• To analyze strategic approaches such as contracts, agreements, partnerships, joint ventures, collaborations, acquisitions, investment, expansions, divestments, and new product launches, in the precast concrete market

During this research study, major players operating in the precast concrete market in various regions have been identified, and their offerings, regional presence, and distribution channels have been analyzed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Factiva, along with primary respondents. The entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) pertaining to the market. The figure below shows the breakdown of the primaries on the basis of the company type, designation, and region considered during the research study.

To know about the assumptions considered for the study, download the pdf brochure

Major Market Developments

• In March 2018, Bouygues Construction, through its subsidiary Bouygues Bâtiment Ile-de-France, signed a contract with Abu Dhabi Investment Authority (ADIA) to build Alto Tower at La Défense in Paris, valued at USD 221.3 million.
• In January 2018, The Victorian Government signed a contract with Cross Yarra Partnership, a consortium led by Lendlease (Australia), John Holland (Australia), Bouygues Construction, and Capella Capital (Australia). The consortium will be responsible for financing, designing, and building the future Metro Tunnel in Melbourne, and its maintenance for 25 years. The project is worth USD 4.79 billion.
• In December 2017, ACS Group, through its Dragados USA and John P. Picone, Inc. won the contract for the Long Island Rail Road (LIRR) Expansion project. The contract included designing and building a 9.8-mile third track between Floral Park and Hicksville, in Long Island, New York, valued at USD 1.73 billion.
• In January 2017, Cemex’s indirect subsidiary Sierra Trading (“Sierra”) acquired shares in Trinidad Cement Limited (TCL) (Trinidad and Tobago, Caribbean). TCL is among the majority shareholders of Caribbean Cement Company Limited (CCCL)-prominent cement producer in Jamaica

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

Report Scope:

By element

• Floors & roofs
• Walls & barriers
• Columns & beams
• Utility vaults
• Girders
• Pipes
• Paving slabs

By construction type

• Elemental construction
• Permanent modular buildings
• Relocatable buildings

By end-use sector

• Non-residential
• Residential

By region:

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America

Critical questions which the report answers

• What are new application areas which the precast concrete companies are exploring?
• Which are the key players in the market and how intense is the competition?

Available Customizations

Based on the given market data, MarketsandMarkets offers customizations in the reports as per the client’s specific requirements. The available customization options are as follows:

Geographic Analysis

• Further country-wise breakdown of the market for additional countries

Company Information

• Detailed analysis and profiling of additional market players (Up to 5)

Table of Contents

1 Introduction (Page No. - 15)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Study Scope
           1.3.1 Regional Scope
           1.3.2 Periodization Considered
    1.4 Currency Considered
    1.5 Unit Considered
    1.6 Stakeholders

2 Research Methodology (Page No. - 18)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Breakdown of Primaries
    2.2 Market Size Estimation
    2.3 Data Triangulation
    2.4 Research Assumptions & Limitations

3 Executive Summary (Page No. - 26)

4 Premium Insights (Page No. - 30)
    4.1 Emerging Economies to Register High Growth in Terms of Demand for Precast Concrete
    4.2 Precast Concrete Market, By Element
    4.3 Precast Concrete Market, By Construction Type
    4.4 Precast Concrete Market, By End-Use Sector
    4.5 Asia Pacific Precast Concrete Market, By Element & Country
    4.6 Precast Concrete Market: Key Countries

5 Market Overview (Page No. - 34)
    5.1 Introduction
           5.1.1 Drivers
                    5.1.1.1 Increase in Population and Rapid Urbanization Translating to A Large Number of New Construction Projects
                    5.1.1.2 Growth in Infrastructure Investment and Industrialization
                    5.1.1.3 Increase in Concerns Toward Work-Zone Safety and Need for Lower Environmental Impacts
                    5.1.1.4 Need for Reduced Construction Time and Cost
                    5.1.1.5 Ease of Installation and Removal
           5.1.2 Restraints
                    5.1.2.1 Economic Downturn in Major Regions
           5.1.3 Opportunities
                    5.1.3.1 Rise in New Construction Projects in the Emerging Economies
           5.1.4 Challenges
                    5.1.4.1 Lack of Awareness About the Precast Concrete Method Among End Users
                    5.1.4.2 Volatility in Transportation Charges Can Create an Unpredictable Business Environment

6 Industry Trends (Page No. - 40)
    6.1 Introduction
    6.2 Supply Chain
           6.2.1 Product Development & Distribution are an Integral Part of the Supply Chain in the Precast Concrete Market
           6.2.2 Prominent Companies
           6.2.3 Small & Medium Enterprises
    6.3 Porter’s Five Forces Analysis
           6.3.1 Threat of New Entrants
           6.3.2 Threat of Substitutes
           6.3.3 Bargaining Power of Suppliers
           6.3.4 Bargaining Power of Buyers
           6.3.5 Intensity of Competitive Rivalry
    6.4 Macro Economic Factors
           6.4.1 Rising Population
           6.4.2 Increase in Middle-Class Population, 2009–2030
           6.4.3 Developing Economics, GDP (Purchasing Power Parity), 2015
           6.4.4 GDP & Contribution to the Construction Industry, By Country

7 Precast Concrete Market, By Element (Page No. - 50)
    7.1 Introduction
    7.2 Columns & Beams
    7.3 Walls & Barriers
    7.4 Floors & Roofs
    7.5 Utility Vaults
    7.6 Girders
    7.7 Pipes
    7.8 Paving Slabs
    7.9 Others

8 Precast Concrete Market, By Construction Type (Page No. - 55)
    8.1 Introduction
    8.2 Elemental Construction
    8.3 Permanent Modular Buildings
    8.4 Relocatable Buildings

9 Precast Concrete Market, By End-Use Sector (Page No. - 58)
    9.1 Introduction
    9.2 Non-Residential
    9.3 Residential

10 Precast Concrete Market, By Region (Page No. - 61)
     10.1 Introduction
     10.2 North America
             10.2.1 US
             10.2.2 Canada
             10.2.3 Mexico
     10.3 Europe
             10.3.1 Germany
             10.3.2 Italy
             10.3.3 Russia
             10.3.4 France
             10.3.5 UK
             10.3.6 Rest of Europe
     10.4 Asia Pacific
             10.4.1 China
             10.4.2 Japan
             10.4.3 Australia
             10.4.4 India
             10.4.5 Indonesia
             10.4.6 Rest of Asia Pacific
     10.5 Middle East & Africa
             10.5.1 UAE
             10.5.2 Saudi Arabia
             10.5.3 South Africa
             10.5.4 Turkey
             10.5.5 Rest of Middle East & Africa
     10.6 South America
             10.6.1 Brazil
             10.6.2 Argentina
             10.6.3 Rest of South America

11 Competitive Landscape (Page No. - 112)
     11.1 Overview
     11.2 Market Ranking
     11.3 Competitive Scenario
             11.3.1 Contracts, Collaborations, Partnerships, Agreements & Joint Ventures
             11.3.2 Investments, Expansions & Divestments
             11.3.3 Acquisitions
             11.3.4 New Product Launches

12 Company Profiles (Page No. - 117)
(Business Overview, Services Offered, Recent Developments, SWOT Analysis, MnM View)*
     12.1 ACS, Actividades De Construccion Y Servicios, S.A.
     12.2 Bouygues Construction
     12.3 Cemex S.A.B. De C.V.
     12.4 Balfour Beatty PLC
     12.5 Laing O’rourke
     12.6 Larsen & Toubro Limited
     12.7 Taisei Corporation
     12.8 Skanska Ab
     12.9 CRH PLC
     12.10 Julius Berger Nigeria PLC
     12.11 Red Sea Housing Services
     12.12 Atco Group
     12.13 Vinci
     12.14 Kiewit Corporation
*Details on Business Overview, Services Offered, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.
     12.15 Other Players
             12.15.1 Oldcastle Precast
             12.15.2 Komatsu Ltd.
             12.15.3 Modular Space Corporation
             12.15.4 KEF Infrastructure India Pvt. Ltd.
             12.15.5 Preca Solutions India Pvt. Ltd.
             12.15.6 Nanaimo Precast
             12.15.7 Coreslab Structures
             12.15.8 Coltman Precast Concrete Ltd.
             12.15.9 Metromont Corporation
             12.15.10 Styl-Comp Group
             12.15.11 Smeet Precast

13 Appendix (Page No. - 158)
     13.1 Discussion Guide
     13.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
     13.3 Introducing RT: Real-Time Market Intelligence
     13.4 Available Customizations
     13.5 Related Reports
     13.6 Author Details

List of Tables (99 Tables)

Table 1 Asia Pacific Urbanization Trend, 1990–2050
Table 2 North America: GDP, By Country, 2015–2022 (USD Billion)
Table 3 North America: Contribution to the Construction Industry, By Country, 2014–2021 (USD Billion)
Table 4 Europe: GDP, By Country, 2015–2022 (USD Billion)
Table 5 Europe: Contribution to the Construction Industry, By Country, 2014–2021 (USD Billion)
Table 6 Asia Pacific: GDP, By Country, 2015–2022 (USD Billion)
Table 7 Asia Pacific: Contribution to the Construction Industry, By Country, 2014–2021 (USD Billion)
Table 8 Middle East & Africa: GDP, By Country, 2015–2022 (USD Billion)
Table 9 Middle East & Africa: Contribution to the Construction Industry, By Country, 2014–2021 (USD Billion)
Table 10 South America: GDP, By Country, 2015–2022 (USD Billion)
Table 11 South America: Contribution to the Construction Industry, By Country, 2014–2021 (USD Billion)
Table 12 Precast Concrete Market Size, By Element, 2015–2022 (USD Million)
Table 13 Precast Concrete Market Size, By Element, 2015–2022 (Million Square Feet)
Table 14 Precast Concrete Market Size, By Construction Type, 2015–2022 (USD Million)
Table 15 Precast Concrete Market Size, By Construction Type, 2015–2022 (Million Square Feet)
Table 16 Precast Concrete Market Size, By End-Use Sector, 2015–2022 (USD Billion)
Table 17 Precast Concrete Market Size, By End-Use Sector, 2015–2022 (Million Square Feet)
Table 18 Precast Concrete Market Size, By Region, 2015–2022 (USD Million)
Table 19 Precast Concrete Market Size, By Region, 2015–2022 (Million Square Feet)
Table 20 North America: By Size, By Country, 2015–2022 (USD Million)
Table 21 North America: By Size, By Country, 2015–2022 (Million Square Feet)
Table 22 North America: By Size, By Element, 2015–2022 (USD Million)
Table 23 North America: By Size, By Element, 2015–2022 (Million Square Feet)
Table 24 North America: By Size, By End-Use Sector, 2015–2022 (USD Million)
Table 25 North America: By Size, By End-Use Sector, 2015–2022 (Million Square Feet)
Table 26 US: By Size, By Element, 2015–2022 (USD Million)
Table 27 US: By Size, By Element, 2015–2022 (Million Square Feet)
Table 28 Canada: By Size, By Element, 2015–2022 (USD Million)
Table 29 Canada: By Size, By Element, 2015–2022 (Million Square Feet)
Table 30 Mexico: By Size, By Element, 2015–2022 (USD Million)
Table 31 Mexico: By Size, By Element, 2015–2022 (Million Square Feet)
Table 32 Europe: By Size, By Country, 2015–2022 (USD Million)
Table 33 Europe: By Size, By Country, 2015–2022 (Million Square Feet)
Table 34 Europe: By Size, By Element, 2015–2022 (USD Million)
Table 35 Europe: By Size, By Element, 2015–2022 (Million Square Feet)
Table 36 Europe: By Size, By End-Use Sector, 2015–2022 (USD Million)
Table 37 Europe: By Size, By End-Use Sector, 2015–2022 (Million Square Feet)
Table 38 Germany: By Size, By Element, 2015–2022 (USD Million)
Table 39 Germany: By Size, By Element, 2015–2022 (Million Square Feet)
Table 40 Italy: By Size, By Element, 2015–2022 (USD Million)
Table 41 Italy: By Size, By Element, 2015–2022 (Million Square Feet)
Table 42 Russia: By Size, By Element, 2015–2022 (USD Million)
Table 43 Russia: By Size, By Element, 2015–2022 (Million Square Feet)
Table 44 France: By Size, By Element, 2015–2022 (USD Million)
Table 45 France: By Size, By Element, 2015–2022 (Million Square Feet)
Table 46 UK: By Size, By Element, 2015–2022 (USD Million)
Table 47 UK: By Size, By Element, 2015–2022 (Million Square Feet)
Table 48 Rest of Europe: Precast Concrete Market Size, By Element, 2015–2022 (USD Million)
Table 49 Rest of Europe: Precast Concrete Market Size, By Element, 2015–2022 (Million Square Feet)
Table 50 Asia Pacific: Precast Concrete Market Size, By Country, 2015–2022 (USD Million)
Table 51 Asia Pacific: Precast Concrete Market Size, By Country, 2015–2022 (Million Square Feet)
Table 52 Asia Pacific: Precast Concrete Market Size, By Element, 2015–2022 (USD Million)
Table 53 Asia Pacific: Precast Concrete Market Size, By Element, 2015–2022 (Million Square Feet)
Table 54 Asia Pacific: Precast Concrete Market Size, By End-Use Sector, 2015–2022 (USD Million)
Table 55 Asia Pacific: Precast Concrete Market Size, By End-Use Sector, 2015–2022 (Million Square Feet)
Table 56 China: Precast Concrete Market Size, By Element, 2015–2022 (USD Million)
Table 57 China: Precast Concrete Market Size, By Element, 2015–2022 (Million Square Feet)
Table 58 Japan: Precast Concrete Market Size, By Element, 2015–2022 (USD Million)
Table 59 Japan: Precast Concrete Market Size, By Element, 2015–2022 (Million Square Feet)
Table 60 Australia: Precast Concrete Market Size, By Element, 2015–2022 (USD Million)
Table 61 Australia: Precast Concrete Market Size, By Element, 2015–2022 (Million Square Feet)
Table 62 India: Precast Concrete Market Size, By Element, 2015–2022 (USD Million)
Table 63 India: Precast Concrete Market Size, By Element, 2015–2022 (Million Square Feet)
Table 64 Indonesia: Precast Concrete Market Size, By Element, 2015–2022 (USD Million)
Table 65 Indonesia: Precast Concrete Market Size, By Element, 2015–2022 (Million Square Feet)
Table 66 Rest of Asia Pacific: By Size, By Element, 2015–2022 (USD Million)
Table 67 Rest of Asia Pacific: By Size, By Element, 2015–2022 (Million Square Feet)
Table 68 Middle East & Africa: By Size, By Country, 2015–2022 (USD Million)
Table 69 Middle East & Africa: By Size, By Country, 2015–2022 (Million Square Feet)
Table 70 Middle East & Africa: By Size, By Element, 2015–2022 (USD Million)
Table 71 Middle East & Africa: By Size, By Element, 2015–2022 (Million Square Feet)
Table 72 Middle East & Africa: By Size, By End-Use Sector, 2015–2022 (USD Million)
Table 73 Middle East & Africa: By Size, By End-Use Sector, 2015–2022 (Million Square Feet)
Table 74 UAE: Precast Concrete Market Size, By Element, 2015–2022 (USD Million)
Table 75 UAE: Precast Concrete Market Size, By Element, 2015–2022 (Million Square Feet)
Table 76 Saudi Arabia: By Size, By Element, 2015–2022 (USD Million)
Table 77 Saudi Arabia: By Size, By Element, 2015–2022 (Million Square Feet)
Table 78 South Africa: By Size, By Element, 2015–2022 (USD Million)
Table 79 South Africa: By Size, By Element, 2015–2022 (Million Square Feet)
Table 80 Turkey: Precast Concrete Market Size, By Element, 2015–2022 (USD Million)
Table 81 Turkey: Precast Concrete Market Size, By Element, 2015–2022 (Million Square Feet)
Table 82 Rest of Middle East & Africa: Precast Concrete Market Size, By Element, 2015–2022 (USD Million)
Table 83 Rest of Middle East & Africa: Precast Concrete Market Size, By Element, 2015–2022 (Million Square Feet)
Table 84 South America: By Size, By Country, 2015–2022 (USD Million)
Table 85 South America: By Size, By Country, 2015–2022 (Million Square Feet)
Table 86 South America: By Size, By Element, 2015–2022 (USD Million)
Table 87 South America: By Size, By Element, 2015–2022 (Million Square Feet)
Table 88 South America: By Size, By End-Use Sector, 2015–2022 (USD Million)
Table 89 South America: By Size, By End-Use Sector, 2015–2022 (Million Square Feet)
Table 90 Brazil: Precast Concrete Market Size, By Element, 2015–2022 (USD Million)
Table 91 Brazil: Precast Concrete Market Size, By Element, 2015–2022 (Million Square Feet)
Table 92 Argentina: Precast Concrete Market Size, By Element, 2015–2022 (USD Million)
Table 93 Argentina: Precast Concrete Market Size, By Element, 2015–2022 (Million Square Feet)
Table 94 Rest of South America: Precast Concrete Market Size, By Element, 2015–2022 (USD Million)
Table 95 Rest of South America: Precast Concrete Market Size, By Element, 2015–2022 (Million Square Feet)
Table 96 Partnerships, Agreements, Contracts, Collaborations, & Joint Ventures, 2017–2018
Table 97 Investments, Expansions & Divestments, 2016–2018
Table 98 Acquisitions, 2016–2018
Table 99 New Product Launches, 2016

List of Figures (48 Figures)

Figure 1 Precast Concrete Market Segmentation
Figure 2 Precast Concrete Market, By Region
Figure 3 Precast Concrete Market: Research Design
Figure 4 Market Size Estimation Methodology: Bottom-Up Approach
Figure 5 Market Size Estimation Methodology: Top-Down Approach
Figure 6 Precast Concrete Market: Data Triangulation
Figure 7 Assumptions of the Research Study
Figure 8 Limitations of the Research Study
Figure 9 Columns & Beams Segment is Projected to Be the Largest in the Precast Concrete Market, By Element, By 2022
Figure 10 Precast Concrete Market, By Construction Type, Was Dominated By the Elemental Construction Segment in 2016
Figure 11 Precast Concrete in the Non-Residential Sector is Projected to Grow at A Higher Rate During the Forecast Period
Figure 12 Asia Pacific Dominated the Precast Concrete Market in 2016
Figure 13 Market Growth is Attributed to the Growth of Construction Industry in Developing Countries
Figure 14 Utility Vaults to Dominate the Precast Concrete Market Through 2022
Figure 15 Elemental Construction to Grow at the Highest CAGR in the Precast Concrete Market
Figure 16 Non-Residential Segment to Dominate the Precast Concrete Market Through 2022
Figure 17 China Accounted for the Largest Share in 2016
Figure 18 China is Projected to Grow at the Highest Rate From 2017 to 2022
Figure 19 Rapid Urbanization and Industrialization are the Key Drivers of the Precast Concrete Market
Figure 20 Global GDP Growth Trend, 2005–2016
Figure 21 Supply Chain Analysis
Figure 22 Porter’s Five Forces Analysis
Figure 23 Projected GDP Per Capita, By Country
Figure 24 Precast Concrete Market Size, By Element, 2017 vs 2022
Figure 25 Precast Concrete Market Size, By Construction Type, 2017 vs 2022
Figure 26 Precast Concrete Market Size, By End-Use Sector, 2017 vs 2022
Figure 27 Geographic Snapshot (2017–2022): the Market in China is Projected to Grow at the Highest Rate, By Value
Figure 28 North America: Precast Concrete Market Snapshot: the US is Projected to Be the Fastest-Growing Market During the Forecast Period (2017–2022)
Figure 29 Europe: Precast Concrete Market Snapshot: Germany is Projected to Be the Fastest-Growing Country During the Forecast Period (2017–2022)
Figure 30 Asia Pacific: Precast Concrete Market Snapshot: China is Projected to Be the Fastest-Growing Country During the Forecast Period (2017–2022)
Figure 31 Companies Adopted Contracts, Collaborations, Partnership, Joint Ventures & Agreements as Key Growth Strategies From 2014 to 2018
Figure 32 ACS, Actividades De Construccion Y Servicios, S.A.: Company Snapshot
Figure 33 ACS, Actividades De Construccion Y Servicios, S.A.: SWOT Analysis
Figure 34 Bouygues Construction: Company Snapshot
Figure 35 Bouygues Construction: SWOT Analysis
Figure 36 Cemex S.A.B. De C.V.: Company Snapshot
Figure 37 Cemex S.A.B. De C.V.: SWOT Analysis
Figure 38 Balfour Beatty PLC: Company Snapshot
Figure 39 Balfour Beatty PLC: SWOT Analysis
Figure 40 Laing O’rourke: Company Snapshot
Figure 41 Laing O’rourke: SWOT Analysis
Figure 42 Larsen & Toubro Limited: Company Snapshot
Figure 43 Taisei Corporation: Company Snapshot
Figure 44 CRH PLC: Company Snapshot
Figure 45 Julius Berger Nigeria PLC: Company Snapshot
Figure 46 Red Sea Housing Services: Company Snapshot
Figure 47 Atco Group: Company Snapshot
Figure 48 Vinci: Company Snapshot

The overall precast concrete market is expected to grow from USD 104.03 billion in 2017 to USD 138.96 billion by 2022, at an estimated CAGR of 5.96%. The precast concrete market is expected to witness high growth as a result of the rising urbanization, large-scale investments in infrastructure & industrial sectors, and rising construction activities in emerging economies.

Precast concrete refers to a construction product prepared by casting concrete in a reusable mold or matrix, and cured in a standard controlled environment, which is later transported to the site of construction and lifted into place. Precast concrete is widely used in precast construction. Precast construction refers to a construction process where the structural components are standardized and manufactured in a plant located away from the construction site and then transported for assembling. A significant change has been witnessed in the construction industry with the introduction of precast technology as it allows the construction of a large number of structures while ensuring reduced time and cost, compared to conventional onsite construction methods. The precast method offers the benefits of high quality, increased efficiency, and better finishing.

The precast concrete market in APAC is expected to grow at 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. The growth of the precast concrete market in these countries is driven by factors such as an increase in construction activities of residential and non-residential buildings, the rise in population, and economic development of the region.

Growth in infrastructure investment and industrialization drive the growth of precast concrete market

The precast concrete components are used in non-residential and residential sectors. Growth of precast concrete market is supported by the rising public and private investment in the infrastructural sector in the emerging economies of Asia Pacific, the Middle East, and South America.

Non-residential

Precast concrete components are extensively used in non-residential sector, including usage in commercial, industrial, healthcare, hospitality, infrastructural, utility, and sports-related constructions among others. Precast construction (such as relocatable buildings) are deployed to provide help in the disaster relief to deliver emergency shelter and medical assistance. In infrastructural applications, precast concrete is used in transportation infrastructure, including highways, tunnels, bridges, and seaports.

Residential

The application of precast components in this sector covers construction of new residential buildings, renovations, and restructuring. In some of the developing or under-developed countries in the Asia Pacific region as well as in Africa and South America, people are less aware of this construction method. A preconceived notion of the residential consumers that precast buildings have a shorter life or cannot sustain natural calamities is restricting the growth of the precast concrete market in the residential sector.

Critical questions the report answers:

• Where will all these developments take the industry in the mid to long term?
• What are the potential markets for precast concrete industry?

Factors such as weak economic conditions in many European countries such as Spain, Greece, Romania, and the UK as the aftermath of the financial recession of 2007–2009 and skeptical mindset of people toward the quality of precast structures might restrict the growth of the market.

The global precast concrete market is dominated by players such as Actividades de Construcción y Servicios (Spain), Bouygues Construction (France), Larsen & Toubro (India), Taisei (Japan), and Balfour Beatty (UK). Other players include Skanska (Sweden), CRH (UK), Cemex S.A.B.DE C.V. (Mexico), Laing O’Rourke (UK), and Julius Berger Nigeria (Nigeria). These players adopted various strategies such as contracts, collaborations, agreements, partnerships, and joint ventures to expand their presence in the precast concrete market.

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