Global Precast Concrete Market Analysis & Forecast 2019-2028

The precast concrete market is expected to grow at a CAGR of around 6% during the forecast period. The rise in demand for precast concrete products is due to a shift in the trend for the construction of green buildings, as well as a desire for products that reduce construction time and plant/site downtime drive the growth of the market. Further, the increasing disposable income levels in developing as well as developed countries tend to boost the construction segment in the residential space. In addition, increasing initiatives by various governments to develop their respective economies are also expected to boost the construction industry, which in turn augmenting the product demand in the near future.

Market Segmentation 
The global precast concrete market has been analyzed on the basis of structure system, product type, application, end-user, and region. Based on structure system, the market is segmented into transportation, water & waste handling products, and structural building. On the basis of product type, the market is segmented into columns & beams, walls, floors & roofs, staircases, and others. Based on application, the market is segmented into modular, relocatable buildings, elemental construction, and manufactured homes. Further, on the basis of end-user, the market covers the analysis of residential, non-residential, infrastructure, and others. Among these, residential segment is estimated to hold a prominent share in the market. Geographically, the market is analyzed into North America, Western Europe, Eastern Europe, Asia Pacific, Latin America, and Middle East & Africa. 

Market Structure and Competition Landscape 
The growth of the global precast concrete market is characterized by the presence of players operating in the market. Some of the players operating in the market include Cemex S.A.B de C.V, LafargeHolcim Ltd., Boral Limited, Balfour Beatty PLC, Forterra Inc., Laing O’rourke, ACS Group, Kiewit Corporation, Komatsu Ltd., Larsen & Toubro Limited, Tindall Corporation, Devinci Precast, Crh PLC and Skanska Ab, among others.
• In June 2021, Cemex announced to invest nearly US$ 925 Mn from 2021 to 2023 to expand its cement production capacity in the Americas, Europe, and the Philippines, strengthening its market positioning in high-growth metropolitan cities.
• In February 2021, Skanska signed a US$ 334.6 Mn contract with Kanta-Hame Hospital District to build a new hospital in Hameenlinna, Finland.