Precast Concrete Market 2022 - Projected to Reach US$ 138.96 Billion (Key Players, Top Trends and Regional Forecast)

The precast concrete market size is projected to grow at a CAGR of 5.96% during the forecast period, that is, 2017 to 2022, and reach USD 138.96 billion by 2022. The precast concrete market is driven by factors such as increasing urban population, increasing industrialization, and large-scale investments in the industrial and infrastructure sectors. Precast technology allows the construction of a larger number of structures with reduced time and costs, compared to conventional on-site construction methods.

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The primary objective of precast concrete maret study is to define, forecast, and segment the precast concrete market on the basis of element, construction type, end-use sector, and region. The study also aims at strategically analyzing micro markets with respect to individual growth trends, future prospects, and their contribution to the total market. Precast technology allows the construction of a larger number of structures with reduced time and costs, compared to conventional on-site construction methods.

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4.1 Emerging Economies to Register High Growth in Terms of Demand for Precast Concrete
4.2 Precast Concrete Market, By Element
4.3 Precast Concrete Market, By Construction Type
4.4 Precast Concrete Market, By End-Use Sector
4.5 Asia Pacific Precast Concrete Market, By Element & Country
4.6 Precast Concrete Market: Key Countries

Market Overview
5.1 Introduction
5.1.1 Drivers
5.1.1.1 Increase in Population and Rapid Urbanization Translating to A Large Number of New Construction Projects
5.1.1.2 Growth in Infrastructure Investment and Industrialization
5.1.1.3 Increase in Concerns Toward Work-Zone Safety and Need for Lower Environmental Impacts
5.1.1.4 Need for Reduced Construction Time and Cost
5.1.1.5 Ease of Installation and Removal
5.1.2 Restraints
5.1.2.1 Economic Downturn in Major Regions
5.1.3 Opportunities
5.1.3.1 Rise in New Construction Projects in the Emerging Economies
5.1.4 Challenges
5.1.4.1 Lack of Awareness About the Precast Concrete Method Among End Users
5.1.4.2 Volatility in Transportation Charges Can Create an Unpredictable Business Environment

Industry Trends
6.1 Introduction
6.2 Supply Chain
6.2.1 Product Development & Distribution are an Integral Part of the Supply Chain in the Precast Concrete Market
6.2.2 Prominent Companies
6.2.3 Small & Medium Enterprises
6.3 Porter’s Five Forces Analysis
6.3.1 Threat of New Entrants
6.3.2 Threat of Substitutes
6.3.3 Bargaining Power of Suppliers
6.3.4 Bargaining Power of Buyers
6.3.5 Intensity of Competitive Rivalry
6.4 Macro Economic Factors
6.4.1 Rising Population
6.4.2 Increase in Middle-Class Population, 2009–2030
6.4.3 Developing Economics, GDP (Purchasing Power Parity), 2015
6.4.4 GDP & Contribution to the Construction Industry, By Country

The primary objective of this study is to define, forecast, and segment the precast concrete market on the basis of element, construction type, end-use sector, and region. The study also aims at strategically analyzing micro markets with respect to individual growth trends, future prospects, and their contribution to the total market. It also provides detailed information about the key market dynamics that include drivers, restraints, opportunities, and industry-specific challenges.

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Despite cheap manufacturing prices of precast concrete products, their transportation from factory to construction sites requires specific resources. The industry requires skilled labor as the use of precast concrete for construction of buildings is entirely different from traditional methods of construction. This, in turn, is likely to restrain the growth of the market over the forecast period.

Precast concrete has been used in water and waste handling products for many years. Water handling products are used to carry water from dams to cities and waste handling products are used to transfer sewage from cities to sewage treatment plants. Expansion of cities and creation of new smart cities are expected to trigger demand for these product types.