Concrete market, precast concrete market, concrete contractor market, ready-mix concrete market, cement and concrete product market, concrete floor coatings market
How Has The Concrete Work Market Performed and What Are The Forecasted Growth Rates?
The concrete work market size has seen strong growth in the past few years, increasing from $453.69 billion in 2024 to a projected $485.43 billion in 2025. This represents a compound annual growth rate (CAGR) of 7.0%. The robust growth in the historic period can be accredited to factors such as construction industry growth, infrastructure development, urbanization, government investments, and population expansion.
Looking towards the future, the market is expected to continue its strong growth, reaching an expected market size of $610.06 billion in 2029. This comprises a CAGR of 5.9% during the forecast period. The predicted growth can be attributed to factors such as sustainable construction practices, smart cities initiatives, resilience planning, population density challenges, and an increase in renovation and rehabilitation projects. Key trends shaping this period include 3D printing technology, decorative concrete finishes, fiber-reinforced concrete, smart concrete solutions, and practices supporting a circular economy.
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What Are The Key Growth Drivers In The Concrete Work Market?
Rising investments in new construction projects are driving the growth of the concrete work market. Construction projects, encapsulating a broad range of activities including building, restoring, updating, retrofitting, or adapting built assets such as buildings, bridges or tunnels, heavily utilize concrete work. This includes the construction of floors, basic foundations, exterior surfaces, superstructures, wastewater treatment facilities, and parking lots or structures. For instance, in January 2023, the U.S. Census Bureau reported anticipated construction expenditure of $1,825.7 billion in 2023. This marks a 5.7% increase from the estimated expenditure of $1,726.6 billion in January 2022, indicating robust growth for the concrete work market.
Which Segments Are Dominating The Concrete Work Market?
1) By Type: Dry Or Semi-Dry Concrete, Wet Concrete
2) By Construction Type: Elemental Constructions, Permanent Modular Building, Relocatable Buildings
3) By Application: Structural Building Components, Architectural Building Components, Transportation Products, Waste And Waste Handling Products, Other Applications
4) By End-Use Industry: Residential, Non-Residential
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Who Are The Major Players In The Concrete Work Market?
Major companies operating in the concrete work market include Baker Construction Enterprises Inc., Lithko Contracting LLC, Structural Group Inc., Largo Concrete Inc., Suntec Concrete Inc., Kent Companies Inc., Keystone Concrete, Concrete Strategies LLC, CECO Construction Group, TAS Concrete Construction LLC, Quanta Services, and many others.
What Are The Emerging Trends In The Concrete Work Market?
Technological advancements constitute a key trend gaining traction in the concrete work market. For instance, in February 2023, ACC Limited, a leading India-based concrete producer, introduced a temperature-controlled concrete solution named Coolcrete. This solution aims to control the internal temperature during mass concreting or large pouring activity. The introduction of such advanced products will enhance the concrete meets the specified temperature limits and significantly reduce the risks associated with thermal cracking and delayed ettringite formation.
What Is The Regional Analysis Of The Concrete Work Market?
In 2024, Asia-Pacific emerged as the largest region in the concrete work market, followed by North America. Other regions explored in the concrete work market report include Western Europe, Eastern Europe, South America, the Middle East, and Africa.
What Does The Concrete Work Market Report 2025 Offer?
The Concrete work refers to construction or building work that involves the use of concrete as a primary material. This includes the process of uses concrete to build a variety of structures, including footings for gates, foundations, fences, poles, overpasses, parking garages, pavements, highways, and bridges. The Concrete Work Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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