DUBLIN--(BUSINESS WIRE )--The "Precast Concrete Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global precast concrete market reached a value of US$ 115 Billion in 2021. Looking forward, the publisher expects the market to reach a value of US$ 158.2 Billion by 2027, exhibiting a CAGR of 5.46% during 2021-2027.
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Precast concrete is produced by preparing, casting, and curing the concrete using a reusable mold in a controlled environment. The casted concrete is then transported to the construction site, where it is used for structural components like wall panels, tunnels, floors, beams, columns, pipes, girders and staircases.
The precast structural elements are more economical and practical in nature compared to in-situ concrete. Precast concrete components can be bolted together by embedding steel connectors in the concrete at the time of casting. They offer dimensional accuracy and a choice of developing unique and breakthrough constructions of exceptional quality. As a result, precast concrete is generally used for building affordable projects with identical structures. It also provides the advantage of planning for future construction projects as the components can be rearranged easily.
The global precast concrete market is primarily driven by rapid urbanization and the growing demand for residential and commercial spaces. With the rising environmental concerns, precast concrete is being increasingly used to construct buildings, bridges, and stadiums as it can be recycled and reused, which helps in minimizing the impact of raw materials on the environment.
Besides this, governments across the globe are investing in infrastructural development projects, which is providing a positive outlook to the market. They are also undertaking various initiatives for the employment of precast concrete as it significantly reduces the overall project timeline and generates savings in raw material and labor costs.
Key Questions Answered in This Report:
8 Market Breakup by End Use
For more information about this report visit https://www.researchandmarkets.com/r/anekmf
ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900