A recent report published by Infinium Global Research on precast concrete construction market provides an in-depth analysis of segments and sub-segments in global as well as regional precast concrete construction market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional precast concrete construction market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global precast concrete construction market. According to the report the global precast concrete construction market is projected to grow at a CAGR of 5.2% over the forecast period of 2018-2024.
Precast concrete construction uses precast concrete to provide faster and efficient construction process. Precast concrete is the construction product that is cast and cured at another location or in a controlled environment and then transported to the construction site for assembly. The precast concrete construction is preferred in the buildings where the majority of the structural components are standardized. The precast concrete is an alternative to cast-in-situ concrete. The precast concrete offers several advantages over the cast-in-situ concrete construction that includes construction under the controlled climate, the specialized framework helps to build many repetitions of the same component, curing of the concrete is done in a controlled environment so the quality of precast components is very high.
The rapidly growing urbanization led to the huge number of new construction projects especially in the residential and building applications drives the growth of the precast concrete market worldwide. The various developed and the developing countries are focusing on the infrastructure developments that are likely to escalate the growth of precast concrete construction market. In addition, the factors such as rapidly growing construction industry, increasing technological advancements in the construction sectors and the advantages provided by the precast concrete such as reduced time and cost, easy installations are contributing in the growth of the precast concrete market. However, the economic slowdown and lack of trained experts are hampering the growth of the precast concrete market. Moreover, rapidly growing investments in the construction and building industry and rising demand of housing and the residential buildings in the merging regions are projected to create the several opportunities for the precast concrete construction market over the forecast period.
Among the regions, Asia Pacific is the largest and the fastest growing region in the precast concrete construction market. The growing population in this region create a huge demand for housing that drives the growth of precast concrete construction market in the Asia Pacific region. Furthermore, the growing industrialization, urbanization, and growing purchasing power parity are anticipated to boost the growth of the precast concrete market in the Asia Pacific region.
The report on global precast concrete construction market covers segments such as structures and applications. On the basis of structures, the global precast concrete construction market is categorized into the frame system, wall system, beam and column system, and floor and roof system. On the basis of applications, the global precast concrete construction market is categorized into building applications and civil applications.
The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience a growth at a CAGR of x.x% over the period of 2018-2024.
The report provides profiles of the companies in the global precast concrete construction market such as Lafarge Holcim Limited, China National Building Material Company Limited, L&T Construction, Coltman Precast Concrete Limited, Bison Manufacturing Limited, Elematic Oyj, CRH plc., Taisei Corporation, Weckenmann Anlagentechnik GmbH, and Others.
The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global precast concrete construction market. Moreover, IGR-Growth Matrix analysis given in the report brings insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of precast concrete construction market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the precast concrete construction market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the precast concrete construction market to understand the present and future trends in this market and formulate their strategies accordingly.
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