Srinagar Magazine

Rise in renovation and remodeling activities globally driving the Precast Concrete Market

 Breaking News
  • No posts were found

Rise in renovation and remodeling activities globally driving the Precast Concrete Market

March 10
17:12 2021
Rise in renovation and remodeling activities globally driving the Precast Concrete Market

Browse141 market data Tables and 45 Figures spread through 203 Pages and in-depth TOC on “Precast Concrete Market”
Precast Concrete Market by Element (Columns & Beams, Floors & Roofs, Girders, Walls & Barriers, Utility Vaults, Pipes, Paving Slabs), Construction Type, End-use Sector (Residential, Non-residential)

The global precast concrete market size is projected to grow from USD 130.6 billion in 2020 to USD 174.1 billion by 2025, at a CAGR of 5.9% from 2020 to 2025. The market is projected to grow in accordance with the increase in the demand for residential and commercial construction across the globe. Furthermore, the precast concrete market has witnessed a significant increase in demand, owing to the growing interest of consumers in modular buildings, the booming housing construction sector, rise in renovation & remodeling activities, and rapid urbanization & globalization.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=125074015

Government organizations in emerging countries are actively investing and focusing on developing commercial and industrial infrastructures by implementing multiple programs & assigning projects escalating the precast concrete market expansion. Increasing remodelling and renovation operations in non-residential spaces will accelerate the demand for precast concrete during the forecast year. Hotel and resort renovation activities are also growing. Rising investments from industry players in industrial construction is further expected to propel the adaptation of precast concrete and create opportunities in the market.

The use of precast components to construct buildings, bridges, and stadiums has increased work-zone safety. For instance, while constructing a bridge on-site, workers are exposed to high-speed traffic for a long time, along with other on-site construction hazards, which increase the possibility of accidents. The precast concrete construction process minimizes these threats. Precast components that are usually made of locally available natural raw materials, such as stones, cement, gravel, and sand, can be recycled or reused entirely, regardless of how heavily reinforced, as the components are constructed in a controlled environment. This helps minimize the life cycle impact of raw materials on the environment as compared to other materials used in conventional construction components.

Recent Developments

1. In February 2021, Skanska secured a USD 334.6-million contract from Kanta-Hame Hospital District to build a new hospital in Hameenlinna, Finland.

2. In January 2021, LafargeHolcim entered into an agreement to acquire Firestone Building Products from Bridgestone Americas for USD 3.4 billion..

The APAC region is projected to lead the precast concrete market in terms of both value and volume from 2020 to 2025. Growing population, rapid urbanization, and the construction sector are among the key factors propelling industry expansion in the region. New building constructions with improved energy-efficient solutions for residential and commercial sectors in several APAC countries are fueling the demand for precast concrete in the region.

LafargeHolcim Ltd. (Switzerland), Balfour Beatty plc (UK), Skanska AB (Sweden), CRH Plc (UK), Cemex S.A.B de C.V. (Mexico), Laing O’Rourke (UK), Julius Berger Nigeria Plc (Nigeria), and Boral Limited (Australia), amongst others, are the key players operating in the precast concrete market. Acquisitions, expansions, contracts, agreements & partnerships, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the precast concrete market.

Request for Sample Report: https://www.marketsandmarkets.com/requestsampleNew.asp?id=125074015

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, and strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Media Contact
Company Name: MarketsandMarkets
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/prefabricated-construction-market-125074015.html