Precast Construction Market
SHARE
PUBLISHED: 2022 ID: SMRC21899
SHARE

Precast Construction Market Forecasts to 2028 - Global Analysis by Product (Paving Slabs, Columns & Beams, Floors & Roofs, Other Products), Construction Type (Manufactured Homes, Modular Construction), End User (Residential, Non-residential), and By Geography

4.6 (96 reviews)
4.6 (96 reviews)
Published: 2022 ID: SMRC21899

This report covers the impact of COVID-19 on this global market
Loading...

Years Covered

2020-2028

Estimated Year Value (2022)

US $148697.9 MN

Projected Year Value (2028)

US $221907.0 MN

CAGR (2022 - 2028)

6.9%

Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

Asia  Pacific

Fastest Growing Market

North America


According to Stratistics MRC, the Global Precast Construction Market is accounted for $148697.9 million in 2022 and is expected to reach $221907.0 million by 2028 growing at a CAGR of 6.9% during the forecast period. Precast construction is the process of casting concrete in a reusable mould or form, curing it in a controlled setting, and then transporting it to the job site for installation. For architectural applications, various precast construction system types are used. They vary in terms of size, purpose, and cost. Utilizing precast parts renders obsolete the necessity for traditional formworks. Precast components help reduce the quantity of waste produced and control other environmental risks. They additionally give workers a secure workspace.

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.



Market Dynamics:

Driver:

Growth of Building and Construction Industry

The development of different government-sponsored welfare housing programmes has increased investment in the building and construction sector. The demand for precast construction has also been driven by an increase in disposable income and an increase in home purchases. Precast construction demand has increased as a result of increased investments in the building and construction sector and the rebuilding, repairing, and renovation of historic buildings. Investments in the building and construction sector have increased as a result of low house interest rates. During the anticipated term, this is also anticipated to drive the precast construction industry.

Restraint:

Prone to sudden price fluctuations

Unexpected price changes are common in the precast construction business. The market's ability to make money is impacted by price changes. Cement, sand, and aggregates are necessary ingredients for producing precast construction components. These products' transportation, production, and consumption costs are very volatile. The variations in raw material prices serve as a recalibrating element for market revenue. Another factor impeding market expansion is the fluctuating price of crude oil and the fuel used to transport precast material. Even the market demand throughout the predicted period may be impacted by this opposition.

Opportunity:

Reduced Construction Time and Better Structural Properties

Construction projects are subject to significant risks due to technological and organisational complexity, which can result in cost overruns and delays. Compared to traditional construction techniques, precast construction significantly reduces construction time. Additionally, it assists in preserving crucial lead time and lowers the possibility of project delays or financial losses. In a factory setting, crucial variables like temperature, mix design, and stripping time are tracked and managed as precast components are created. Products are given excellent quality and aesthetic value by a factory-controlled prefabrication environment and without the need for rectification work, which increases their demand.

Threat:

High Dependence on Transportation

The ability to transport the products is crucial to the precast construction industry. It is difficult to carry them to the installation site without these transportation methods. Additional costs in the market include labour costs, fuel costs, handling fees, and warehouse costs. Additionally, these expenses raise the price of the precast construction item overall. These fees are also quite unstable for the market. As a result, the demand may eventually fall, making it a considerable challenge.

Covid-19 Impact:

Numerous international marketplaces have been impacted by the COVID 19 epidemic. During this pandemic, the precast construction business is expanding slowly. The market is also challenged by the declining rate of demand. Due to the virus spread, all construction projects around the world have been put on hold. The outlook for the worldwide market is being greatly impacted. Additionally, there is a shortage of raw materials on the market at this time. It has an impact on the market's manufacturing and production processes. A few issues that have a greater impact on the market are supply chain interruptions, trade restrictions, and declining demand in the building sector. But in the next years, the market will start producing again.

The modular constructions is expected to be the largest during the forecast period

The modular constructions segment is estimated to have a lucrative growth, due to prevalent customer desire for quick construction, superior quality, and quick return on investment, the modular constructions sector is projected to account for a sizable portion of the overall precast construction market shares throughout the forecast period. Additionally, the section of modular construction is concerned in constructing dwellings that are put together on a permanent basis.

The residential segment is expected to have the highest CAGR during the forecast period

Based on the end user, precast construction markets are divided into residential and non-residential segments. The residential market is anticipated to experience considerable CAGR growth. In this section, the majority of the building's construction is finished off-site and then transported to the final location. Due to its use in ornamental components, the residential segment is projected to have promising growth, which will favourably affect the expansion of the global precast construction market.

Region with highest share:

The largest market share for precast construction will be in the Asia-Pacific region. The key drivers of market expansion are the population growth rate and urbanization. In the Asia Pacific region, the building industry is expanding rapidly. New types of structures that are both affordable and efficient in terms of energy are needed. It increases the number of opportunities in the area. Precast construction technique is needed in the Asia Pacific region for both commercial and industrial purposes. For the infrastructure in this area, it is the best construction technique. The Asia Pacific area would experience the largest demand rate during the projection period.

Region with highest CAGR:

The market for precast building in North America is enormous. Throughout the forecast, this region's market will continue to rise significantly. Precast buildings have advantages over other building material technologies. Demand and market revenue in North America will increase as a result of the rising investments in this region. Over the forecast period, North America is anticipated to have the highest CAGR.



Key players in the market

Some of the key players in Precast Construction market China National Building Material Company Limited, Elematic Oyj, LafargeHolcim Ltd., Cemex S.A.B. de C.V., Larsen & Toubro Limited., CRH plc, Taisei Corporation, Coltman Precast Concrete Limited, Tindall Corporation., Bison Manufacturing Limited, Acs group , Balfour Beatty plc, Kiewit corporation, Julius Berger Nigeria plc, Laing orourke, Bouygues construction, Komatsu ltd.

Key Developments:

In May 2022, Smart World & Communication (SWC) business of L&T, a leading Indian multinational engaged in EPC Projects, Hi-Tech Manufacturing and Services and VMware Inc, a leading global provider of multi-cloud services have announced a strategic partnership to accelerate the adoption of digital infrastructure solutions.

In June 2020, Tindall Corporation launched a patented precast concrete slab system in the American marketplace. Tindall Superior Lightweight All-Purpose Beam (T-SLAB) offers superior performance and constructability over both cast-in-place and hollow-core in a single, completely precast solution. This is the first and only slab system of its kind in the country, expanding Tindall's capabilities to provide total precast projects across a wide spectrum of markets.

Products Covered:
• Paving Slabs
• Columns & Beams
• Floors & Roofs
• Walls
• Staircase
• Girders
• Lintels
• Other Products

Construction Types Covered:
• Manufactured Homes
• Modular Construction

End Users Covered:
• Residential
• Non-residential

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions

3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19

4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

5 Global Precast Construction Market, By Product
5.1 Introduction
5.2 Paving Slabs
5.3 Columns & Beams
5.4 Floors & Roofs
5.5 Walls
5.6 Staircase
5.7 Girders
5.8 Lintels
5.9 Other Products

6 Global Precast Construction Market, By Construction Type
6.1 Introduction
6.2 Manufactured Homes
6.3 Modular Construction

7 Global Precast Construction Market, By End User
7.1 Introduction
7.2 Residential
7.3 Non-residential

8 Global Precast Construction Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa

9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies

10 Company Profiling
10.1 China National Building Material Company Limited
10.2 Elematic Oyj
10.3 LafargeHolcim Ltd.
10.4 Cemex S.A.B. de C.V.
10.5 Larsen & Toubro Limited.
10.6 CRH plc
10.7 Taisei Corporation
10.8 Coltman Precast Concrete Limited
10.9 Tindall Corporation.
10.10 Bison Manufacturing Limited
10.11 Acs group
10.12 Balfour beatty plc
10.13 Kiewit corporation
10.14 Julius berger nigeria plc
10.15 Laing orourke
10.16 Bouygues construction
10.17 Komatsu ltd

List of Tables
1 Global Precast Construction Market Outlook, By Region (2020-2028) ($MN)
2 Global Precast Construction Market Outlook, By Product (2020-2028) ($MN)
3 Global Precast Construction Market Outlook, By Paving Slabs (2020-2028) ($MN)
4 Global Precast Construction Market Outlook, By Columns & Beams (2020-2028) ($MN)
5 Global Precast Construction Market Outlook, By Floors & Roofs (2020-2028) ($MN)
6 Global Precast Construction Market Outlook, By Walls (2020-2028) ($MN)
7 Global Precast Construction Market Outlook, By Staircase (2020-2028) ($MN)
8 Global Precast Construction Market Outlook, By Girders (2020-2028) ($MN)
9 Global Precast Construction Market Outlook, By Lintels (2020-2028) ($MN)
10 Global Precast Construction Market Outlook, By Other Products (2020-2028) ($MN)
11 Global Precast Construction Market Outlook, By Construction Type (2020-2028) ($MN)
12 Global Precast Construction Market Outlook, By Manufactured Homes (2020-2028) ($MN)
13 Global Precast Construction Market Outlook, By Modular Construction (2020-2028) ($MN)
14 Global Precast Construction Market Outlook, By End User (2020-2028) ($MN)
15 Global Precast Construction Market Outlook, By Residential (2020-2028) ($MN)
16 Global Precast Construction Market Outlook, By Non-residential (2020-2028) ($MN)
17 North America Precast Construction Market Outlook, By Country (2020-2028) ($MN)
18 North America Precast Construction Market Outlook, By Product (2020-2028) ($MN)
19 North America Precast Construction Market Outlook, By Paving Slabs (2020-2028) ($MN)
20 North America Precast Construction Market Outlook, By Columns & Beams (2020-2028) ($MN)
21 North America Precast Construction Market Outlook, By Floors & Roofs (2020-2028) ($MN)
22 North America Precast Construction Market Outlook, By Walls (2020-2028) ($MN)
23 North America Precast Construction Market Outlook, By Staircase (2020-2028) ($MN)
24 North America Precast Construction Market Outlook, By Girders (2020-2028) ($MN)
25 North America Precast Construction Market Outlook, By Lintels (2020-2028) ($MN)
26 North America Precast Construction Market Outlook, By Other Products (2020-2028) ($MN)
27 North America Precast Construction Market Outlook, By Construction Type (2020-2028) ($MN)
28 North America Precast Construction Market Outlook, By Manufactured Homes (2020-2028) ($MN)
29 North America Precast Construction Market Outlook, By Modular Construction (2020-2028) ($MN)
30 North America Precast Construction Market Outlook, By End User (2020-2028) ($MN)
31 North America Precast Construction Market Outlook, By Residential (2020-2028) ($MN)
32 North America Precast Construction Market Outlook, By Non-residential (2020-2028) ($MN)
33 Europe Precast Construction Market Outlook, By Country (2020-2028) ($MN)
34 Europe Precast Construction Market Outlook, By Product (2020-2028) ($MN)
35 Europe Precast Construction Market Outlook, By Paving Slabs (2020-2028) ($MN)
36 Europe Precast Construction Market Outlook, By Columns & Beams (2020-2028) ($MN)
37 Europe Precast Construction Market Outlook, By Floors & Roofs (2020-2028) ($MN)
38 Europe Precast Construction Market Outlook, By Walls (2020-2028) ($MN)
39 Europe Precast Construction Market Outlook, By Staircase (2020-2028) ($MN)
40 Europe Precast Construction Market Outlook, By Girders (2020-2028) ($MN)
41 Europe Precast Construction Market Outlook, By Lintels (2020-2028) ($MN)
42 Europe Precast Construction Market Outlook, By Other Products (2020-2028) ($MN)
43 Europe Precast Construction Market Outlook, By Construction Type (2020-2028) ($MN)
44 Europe Precast Construction Market Outlook, By Manufactured Homes (2020-2028) ($MN)
45 Europe Precast Construction Market Outlook, By Modular Construction (2020-2028) ($MN)
46 Europe Precast Construction Market Outlook, By End User (2020-2028) ($MN)
47 Europe Precast Construction Market Outlook, By Residential (2020-2028) ($MN)
48 Europe Precast Construction Market Outlook, By Non-residential (2020-2028) ($MN)
49 Asia Pacific Precast Construction Market Outlook, By Country (2020-2028) ($MN)
50 Asia Pacific Precast Construction Market Outlook, By Product (2020-2028) ($MN)
51 Asia Pacific Precast Construction Market Outlook, By Paving Slabs (2020-2028) ($MN)
52 Asia Pacific Precast Construction Market Outlook, By Columns & Beams (2020-2028) ($MN)
53 Asia Pacific Precast Construction Market Outlook, By Floors & Roofs (2020-2028) ($MN)
54 Asia Pacific Precast Construction Market Outlook, By Walls (2020-2028) ($MN)
55 Asia Pacific Precast Construction Market Outlook, By Staircase (2020-2028) ($MN)
56 Asia Pacific Precast Construction Market Outlook, By Girders (2020-2028) ($MN)
57 Asia Pacific Precast Construction Market Outlook, By Lintels (2020-2028) ($MN)
58 Asia Pacific Precast Construction Market Outlook, By Other Products (2020-2028) ($MN)
59 Asia Pacific Precast Construction Market Outlook, By Construction Type (2020-2028) ($MN)
60 Asia Pacific Precast Construction Market Outlook, By Manufactured Homes (2020-2028) ($MN)
61 Asia Pacific Precast Construction Market Outlook, By Modular Construction (2020-2028) ($MN)
62 Asia Pacific Precast Construction Market Outlook, By End User (2020-2028) ($MN)
63 Asia Pacific Precast Construction Market Outlook, By Residential (2020-2028) ($MN)
64 Asia Pacific Precast Construction Market Outlook, By Non-residential (2020-2028) ($MN)
65 South America Precast Construction Market Outlook, By Country (2020-2028) ($MN)
66 South America Precast Construction Market Outlook, By Product (2020-2028) ($MN)
67 South America Precast Construction Market Outlook, By Paving Slabs (2020-2028) ($MN)
68 South America Precast Construction Market Outlook, By Columns & Beams (2020-2028) ($MN)
69 South America Precast Construction Market Outlook, By Floors & Roofs (2020-2028) ($MN)
70 South America Precast Construction Market Outlook, By Walls (2020-2028) ($MN)
71 South America Precast Construction Market Outlook, By Staircase (2020-2028) ($MN)
72 South America Precast Construction Market Outlook, By Girders (2020-2028) ($MN)
73 South America Precast Construction Market Outlook, By Lintels (2020-2028) ($MN)
74 South America Precast Construction Market Outlook, By Other Products (2020-2028) ($MN)
75 South America Precast Construction Market Outlook, By Construction Type (2020-2028) ($MN)
76 South America Precast Construction Market Outlook, By Manufactured Homes (2020-2028) ($MN)
77 South America Precast Construction Market Outlook, By Modular Construction (2020-2028) ($MN)
78 South America Precast Construction Market Outlook, By End User (2020-2028) ($MN)
79 South America Precast Construction Market Outlook, By Residential (2020-2028) ($MN)
80 South America Precast Construction Market Outlook, By Non-residential (2020-2028) ($MN)
81 Middle East & Africa Precast Construction Market Outlook, By Country (2020-2028) ($MN)
82 Middle East & Africa Precast Construction Market Outlook, By Product (2020-2028) ($MN)
83 Middle East & Africa Precast Construction Market Outlook, By Paving Slabs (2020-2028) ($MN)
84 Middle East & Africa Precast Construction Market Outlook, By Columns & Beams (2020-2028) ($MN)
85 Middle East & Africa Precast Construction Market Outlook, By Floors & Roofs (2020-2028) ($MN)
86 Middle East & Africa Precast Construction Market Outlook, By Walls (2020-2028) ($MN)
87 Middle East & Africa Precast Construction Market Outlook, By Staircase (2020-2028) ($MN)
88 Middle East & Africa Precast Construction Market Outlook, By Girders (2020-2028) ($MN)
89 Middle East & Africa Precast Construction Market Outlook, By Lintels (2020-2028) ($MN)
90 Middle East & Africa Precast Construction Market Outlook, By Other Products (2020-2028) ($MN)
91 Middle East & Africa Precast Construction Market Outlook, By Construction Type (2020-2028) ($MN)
92 Middle East & Africa Precast Construction Market Outlook, By Manufactured Homes (2020-2028) ($MN)
93 Middle East & Africa Precast Construction Market Outlook, By Modular Construction (2020-2028) ($MN)
94 Middle East & Africa Precast Construction Market Outlook, By End User (2020-2028) ($MN)
95 Middle East & Africa Precast Construction Market Outlook, By Residential (2020-2028) ($MN)
96 Middle East & Africa Precast Construction Market Outlook, By Non-residential (2020-2028) ($MN)
 

Frequently Asked Questions

In case of any queries regarding this report, you can contact the customer service by filing the “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929

Yes, the samples are available for all the published reports. You can request them by filling the “Request Sample” option available in this page.

Yes, you can request a sample with your specific requirements. All the customized samples will be provided as per the requirement with the real data masked.

All our reports are available in Digital PDF format. In case if you require them in any other formats, such as PPT, Excel etc you can submit a request through “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929

We offer a free 15% customization with every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.

We have 3 different licensing options available in electronic format.

  • Single User Licence: Allows one person, typically the buyer, to have access to the ordered product. The ordered product cannot be distributed to anyone else.
  • 2-5 User Licence: Allows the ordered product to be shared among a maximum of 5 people within your organisation.
  • Corporate License: Allows the product to be shared among all employees of your organisation regardless of their geographical location.

All our reports are typically be emailed to you as an attachment.

To order any available report you need to register on our website. The payment can be made either through CCAvenue or PayPal payments gateways which accept all international cards.

We extend our support to 6 months post sale. A post sale customization is also provided to cover your unmet needs in the report.

Request Customization

We provide a free 15% customization on every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.

Note: This customization is absolutely free until it falls under the 15% bracket. If your requirement exceeds this a feasibility check will be performed. Post that, a quote will be provided along with the timelines.

WHY CHOOSE US ?

Assured Quality

Assured Quality

Best in class reports with high standard of research integrity

24X7 Research Support

24X7 Research Support

Continuous support to ensure the best customer experience.

Free Customization

Free Customization

Adding more values to your product of interest.

Safe and Secure Access

Safe & Secure Access

Providing a secured environment for all online transactions.

Trusted by 600+ Brands

Trusted by 600+ Brands

Serving the most reputed brands across the world.

Testimonials