Elemental construction segment to dominate the precast concrete market during the forecast period
In terms of value and volume, the elemental construction segment is projected to lead the precast concrete market. Factory made precast elements ensures excellent finish, strength, dimensional tolerances, adequate consistency and quality controls.
will increase from USD 144.6 billion in 2022 to USD 198.9 billion in 2027, with a Compound Annual Growth Rate (CAGR) of 6.6% throughout the forecast period. Precast concrete refers to building materials made in reusable moulds away from the construction site. The construction site is where these building supplies are assembled after being shipped there. Precast concrete has several benefits, including quick building, high quality, and lower overall manufacturing costs.
Numerous businesses in the precast concrete industry are successful in their home markets. Cemex S.A.B de C.V. (Mexico), Boral Limited (Australia), LafargeHolcim Ltd. (Switzerland), Balfour Beatty plc (UK), CRH plc (UK), Skanska AB (Sweden), Forterra, Inc. (US), DeVinci Precast (US), Atco Concrete Products N.V. (Netherlands), Beaver Gulf Precast Concrete (Dubai), and others are a few of the major To raise their market shares and improve their product portfolios, these firms have implemented a variety of growth tactics, including acquisitions, expansions, contracts, agreements, partnerships, and new product developments.
The majority of the strategic developments that took place in the precast concrete market between 2018 and 2022 involved collaboration, acquisition, and joint ventures. A number of major companies, including Cemex S.A.B de C.V. (Mexico), Boral Limited (Australia), LafargeHolcim Ltd (Switzerland), Balfour Beatty plc (UK), CRH Plc (UK), and Skanska AB (Sweden), adopted these strategies to grow their businesses, establish a stronger market presence, create new products, and satisfy consumer demand.
An international provider of building and infrastructure services is Balfour Beatty Plc. It finances, develops, constructs, and maintains infrastructures like road, water, power, and utility systems, as well as residential and commercial buildings. Additionally, it provides services including fitting out transmission lines, managing and maintaining roads, upgrading and maintaining utilities, and professional and technical services. The transportation, social infrastructure, commercial, and utility sectors are served by Balfour Beatty. The business conducts business in the US, the UK, China, Hong Kong, Japan, Singapore, and Canada in addition to some Southeast Asian countries.
An international manufacturer of building supplies is called Boral. It has three divisions: USG Boral, Boral North America, and Boral Australia. The business provides both residential and non-residential customers with a variety of precast concrete products. Blocks, asphalt, bricks, concrete, cementitious materials, plasterboards, pavers and retaining walls, quarry materials, timbers, and roof tiles are among the diverse range of products offered by the company. The commercial, structural, and renovation markets all over the world use Boral's products.
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