The Precast Construction Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Precast Construction Global Market
Report 2024, The precast construction market size has grown steadily in recent
years. It will grow from $140.18 billion in 2023 to $147.07 billion in 2024 at
a compound annual growth rate (CAGR) of 4.9%. The growth in the historic period
can be attributed to architectural versatility, urbanization trends,
infrastructure development, housing and commercial construction, regulatory
changes and standards.
The precast construction market size is expected to see steady growth in the
next few years. It will grow to $177.21 billion in 2028 at a compound annual
growth rate (CAGR) of 4.8%. The growth in the forecast period can be attributed
to advanced manufacturing techniques, demand for sustainable construction, rise
in urbanization projects, infrastructure investment, energy-efficient building
trend. Major trends in the forecast period include collaborative project
delivery models, advanced material science applications, efficiency and labor
optimization, resilience and disaster mitigation, prefabrication and
modularization.
The growth in urbanization and industrialization is expected to propel the
precast construction market. The rise in income of the middle class leads to
discretionary spending and a change in consumption patterns, generating demand
for construction and thus opportunities for the precast construction industry.
The share of the urban population has increased to 56.2%, which leads to an
increase in demand for construction services that offer high-quality
construction while saving time and resources. According to the India Brand
Equity Foundation (IBEF), in April 2022, the infrastructure sector had become
the Government of India's primary focus. India intends to spend $1.4 trillion
on infrastructure between 2019 and 2023 to ensure the country's long-term
development. Therefore, the increase in infrastructure and construction is
leading to a growth in urbanization and industrialization, which drives the
precast construction market.
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The precast construction market covered in this report is segmented –
1) By Structure System: Beam & Column System, Floor & Roof System,
Bearing Wall System, Facade System
2) By Construction Type: Modular, Manufactured Homes
3) By End User: Residential, Non-residential
Major companies operating in the precast construction market is focused on
developing innovative solutions such as precast concrete websites, to provide
reliable to customers. A precast concrete website typically refers to an online
platform or web presence dedicated to providing information, resources, and services
related to precast concrete products, technologies, and solutions. For
instance, in September 2022, Precast/Prestressed Concrete Institute, a US-based
precast and prestressed concrete organization announced the launch of ‘Precast
Protects Life’ website. The website offers a wealth of information and
resources highlighting the resilient attributes of precast concrete. Visitors,
encompassing architects, building owners, contractors, and others, can readily
access videos, case studies, articles, and webinars elucidating the premier
resilience, durability, and flexibility of precast concrete as a building
material.
The precast construction market report table of contents includes:
1. Executive Summary
2. Precast
Construction Market Characteristics
3. Precast
Construction Market Trends And Strategies
4. Precast
Construction Market - Macro Economic Scenario
5. Global
Precast Construction Market Size and Growth
.
32. Global Precast Construction Market Competitive Benchmarking
33. Global
Precast Construction Market Competitive Dashboard
34. Key
Mergers And Acquisitions In The Precast Construction Market
35. Precast
Construction Market Future Outlook and Potential Analysis
36.
Appendix
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