Precast Concrete Market Size, Share Global Analysis Report, 2023 – 2030

Industry Insights

[110+ Pages Report] According to the report published by Facts Factors, the global precast concrete market size was valued around USD 100 billion in 2022 and is expected to grow around USD 135 billion by 2030 with a compound annual growth rate (CAGR) of approximately 4.38% between 2023 and 2030. The report analyzes the global precast concrete market drivers, restraints/challenges, and the impact they have on the demands during the forecast period. In addition, the report explores emerging opportunities in the precast concrete market.

Key Insights from Primary Research

• According to the data obtained through primary research, Spain's market is estimated to register a significant CAGR of approximately 4.38% during 2023-2030 owing to the high demand for residential construction projects.
• The survey identifies the building construction segment as a major application of precast concrete products. The application segment value is estimated to reach USD 135 billion by the end of 2030.
• By product segments, wall slabs and ceiling slabs of precast concrete are estimated to account for a major market share of 19% and 17% respectively in 2022.
• The primary data further proposes that landscape design will offer considerable growth opportunities in the near future for precast concrete elements.
• Increasing awareness and investment in sea and flood defense activities is identified as a key market trend and is estimated to boost the demand for precast barrier products in this application.

Key Recommendations from Analysts

• Our market research study on Europe's precast concrete industry proposes, there are substantial growth opportunities across European countries owing to robust investment in structured urbanization and smart city development.
• Our analyst identifies certain types of precast concrete products to exhibit significant importance and potential market demand in the coming years. These precast elements include hollow-core slabs, wall panels, retaining walls, concrete columns, prefabricated concrete slabs, panels, and planks.
• The United Kingdom is expected to evolve as a major country in the region for precast concrete consumption owing to the growing popularity of the smart city concept.
• Research analysts further recognize strategic acquisitions and partnerships as key industry trends through which major competitors are launching innovative and diversified products in the market.

Europe Precast Concrete Market Value Share, By Country:

Preheat construction or precast concrete or prefabricated construction measures are the components that are mass-produced by industrial methods for erecting larger buildings at optimal cost at a lower cost. The main features of this method of construction are often bounded by the division and specialization of a combination of human workforce and the use of tools, machinery, and other equipment in the production of standard and interchangeable parts and products.

The primary driving forces for the global precast concrete market are expected to be occupied by contributing factors such as rising demand in residential and commercial construction coupled with a rise in construction of newer residential & commercial spaces to name a few. Additionally, rising demand for cost-effective measures and lower maintenance building products is expected to increase the footprint of the global precast concrete market during the advent of the forecast period. Moreover, increased concerns over work-zone safety coupled with the rising environmental impacts to lowering the economic uptakes is expected to fuel the growth of the global precast concrete market during the advent of the forecast period.

The global precast concrete market is expected to be driven by factors pertaining to the reduction of overall project-based timelines coupled with rising demand for generating significant savings to name a few. Rising demands for fabricated girders, pillars, and bridge sections at offsite bases coupled with rising technological aimed at logistical measures is expected to increase the boundaries of the existing precast concrete market during the advent of the forecast period. However, volatility in raw material prices coupled with higher costs of construction equipment is expected to decrease the growth of the global precast concrete market during the advent of the forecast period.

The global precast concrete market is divided into structural building components, architectural building components, transportation products, water & waste handling products, and others on the basis of product. The segment pertaining to structural building components is expected to witness the largest market share during the advent of the forecast owing to a rising focus on reducing overall construction time and costs coupled with rising construction needs in terms of beams, piles, and foundation pillars to name a few.

Additionally, the increasing number of affordable housing structures and social infrastructure projects coupled with rising demands from hospitals, educational facilities, and community centers will further cement the dominant market share of the latter segment during the advent of the forecast period. On the end-user, the global precast concrete market is fragmented into residential, non-residential, and infrastructure. The residential segment is expected to witness the largest market share during the advent of the forecast period owing to rising demands in the form of single-family houses and multi-story residential buildings coupled with rising adoption in residential applications in terms of reduced costs to name a few. Additionally, the increased functionality of precast concrete as a logistical solution when compared to conventional methods will cement the dominant market share of the latter during the advent of the forecast period.

Asia-Pacific is expected to witness the fastest growing CAGR during the advent of the forecast period owing to the rapid growth of the infrastructure development sector coupled with branching demands for commercial and residential structures to name a few. Additionally, the implementation of the Belt & road initiative coupled with rising focus and initiatives aimed at boosting infrastructure spending is expected to increase the footprint of the precast concrete market during the advent of the forecast period.

North America is expected to occupy a substantial market share during the advent of the forecast period owing to advanced and sustainable construction measures coupled with rising spending on the redevelopment on old housing structures and aging infrastructures to name a few.

Report Scope

Some of the leading players in the global market include

• Boral Ltd.
• Lafarge
• Gulf Precast Concrete Co. LLC
• Olson Precast Company
• CEMEX S.A.B de C.V.
• Forterra
• Tindall Corporation
• Spancrete
• ELO Beton
• Gulermark A.S.
• Balfour Beatty plc.
• Skanska AB
• CRH plc.
• Laing O’Rourke
• Julius Berger Nigerial plc.
• Oldcastle Precast

By Product Segment Analysis

• Structural Building Components
• Architectural Building Components
• Transportation Products
• Water & Waste Handling Products
• Others

By End-User Segment Analysis

• Residential
• Non-Residential
• Infrastructure

Byy Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • UK
  • France
  • Germany
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East and Africa
  • GCC Countries
  • South Africa
  • Rest of MEA