precast concrete market insights, precast concrete market trends, precast concrete market key players, precast concrete market size, precast concrete market opportunities, precast concrete industry share
How much is the precast concrete market worth, and how is it expected to expand?
The precast concrete market size has grown steadily in recent years. It will grow from $124.26 billion in 2024 to $129.49 billion in 2025 at a compound annual growth rate (CAGR) of 4.2%. The growth in the historic period can be attributed to increasing expenditure on road and water infrastructure development, growing demand for residential and commercial spaces, increase in demand for precast construction, and a low-interest rate environment.
The precast concrete market size is expected to see strong growth in the next few years. It will grow to $162.44 billion in 2029 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to increasing construction activities globally, an increase in population growth, increasing industrialization, rising renovation activities, and technology development. Major trends in the forecast period include investing in research and development of innovative products, focusing on implementing IoT technology, focusing on partnerships and collaboration, focusing on environment-friendly building materials, and focusing on mergers and acquisitions.
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Which industry factors have accelerated the precast concrete market’s expansion?
Increasing expenditure on road and water infrastructure is significantly driving the growth of the precast concrete market. The use of precast concrete offers major time and user cost savings in comparison with the traditional cast-in-place methods of construction. Emerging and advanced economies are increasing their spending on road and water infrastructure to bridge the gap between the required infrastructure and available infrastructure. Governments of various countries are increasing their expenditure on infrastructural developments to bridge this gap. For instance, in September 2023, according to the Council on Foreign Relations, a US-based think tank specializing in U.S. foreign policy and international relations, the Infrastructure Investment and Jobs Act (IIJA) allocates $550 billion in new spending to enhance physical infrastructure, including roads, bridges, railways, airports, and water systems. The additional $650 million comes from regular infrastructure project funding. Therefore, the increasing expenditure on road and water infrastructure will drive the precast concrete market over the coming years.
What are the primary segments of the precast concrete market?
The precast concrete market covered in this report is segmented –
1) By Product: Structural Building Components, Architectural Building Components, Transportation Products, Water And Waste Handling Products, Other Products
2) By Type: Concrete Masonry Units (CMUS), Pavers, Retaining Walls, Other Types
3) By Element: Columns And Beams, Floors And Roofs, Walls And Barriers, Girders, Pipes, Paving Slabs, Utility Vaults, Other Elements
4) By End-Use: Residential, Non-Residential, Infrastructure
Subsegments:
1) By Structural Building Components: Precast Concrete Beams, Precast Concrete Columns, Precast Concrete Wall Panels, Precast Concrete Slabs
2) By Architectural Building Components: Precast Concrete Facades, Precast Concrete Cladding, Precast Concrete Cornices and Caps, Precast Concrete Stairs
3) By Transportation Products: Precast Concrete Barriers, Precast Concrete Sound Walls, Precast Concrete Bridge Components, Precast Concrete Drainage Systems
4) By Water And Waste Handling Products: Precast Concrete Manholes, Precast Concrete Tanks, Precast Concrete Pipes, Precast Concrete Catch Basins
5) By Other Products: Precast Concrete Retaining Walls, Precast Concrete Fireproofing Products, Precast Concrete Septic Tanks, Precast Concrete Furniture and Fixtures
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Which firms are leading the precast concrete market?
Major companies operating in the precast concrete market include Holcim Group, CRH plc, Gulf Precast Concrete Co, Tindall Corporation, Boral Limited, Forterra Inc, CEMEX S.A.B. de C.V, Balfour Beatty plc, Laing O’Rourke, Olson Precast Company, Bianco Precast, Precast Australia Pty Ltd, Jain Spun Pipe Co, Reva Engineering Enterprises, Trilok Precast Private Limited, Pakona Engineers I Pvt Ltd, Suryotthan Merchandise Private Limited, Nova Formworks Private Limited, Xiamen Zhongjingtai Building Materials Co. Ltd, Sinomega House (Qingdao) Co. Ltd, Shandong Hummingbird machinery Co. Ltd, Guangzhou Welons Supply Chain Management Co. Ltd, BREMER AG, Weckenmann Anlagentechnik GmbH & Co, ELO Beton, Cementos Molins, HeidelbergCement, Ciments Francais, Vicat, Carrires de Mouen, Banagher Precast Concrete, Longley Group, SpanWright UK, Smolkirpich.ru, CeramicGroup, Ceresit, McGrown-DeYoung, Euro Slats, Oldcastle Precast, Atco Group, Rotesma, Rinol Hormipul Chile S.A, BFT International, United Precast Concrete Abu Dhabi LLC, Dubai Precast LLC, Abu Dhabi Precast LLC, Hard Precast, Prainsa Saudi Arabia for Precast Concrete, Alfanar Precast Factory, Ranco & Zamil, Alumlight Israel Ltd, Wolfman Industries LTD, Kwikspace Modular Buildings Ltd, Concretex
Which market trends are set to define the future of the precast concrete market?
Major companies operating in the precast concrete market are focusing on developing innovation, such as automated production, which reduces material waste significantly and improves energy efficiency. Automated production refers to the use of technology, machinery, and control systems to operate manufacturing processes with minimal human intervention. For instance, in July 2023, STRABAG UK, a UK-based construction company, launched a high-tech precast concrete plant for tunnel segments in Hartlepool. A new high-tech precast concrete plant has opened in Hartlepool, focusing on the automated production of tunnel segments for a major rail project. This facility is expected to create over 100 jobs and significantly reduce carbon emissions through efficient rail transport, minimizing road traffic. It features advanced technology that enhances material efficiency and energy use, supporting local economic development. The project emphasizes sustainability by sourcing materials locally and utilizing recycled resources.
Which geographic trends are shaping the precast concrete market, and which region has the highest market share?
The countries covered in the precast concrete market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
What Does The Precast Concrete Market Report 2025 Offer?
The precast concrete market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Precast concrete refers to a type of concrete that is prepared, cast, and cured off-site using reusable molds, typically in a controlled factory setting, as it is easier to control the mix, placement, and curing of precast because it is produced in a managed casting environment to provide functional versatility in parking garages, bridges, office buildings, stadiums, shops, and housing with repetitive and modular elements.
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