An Incisive, In-depth Analysis on the Precast Concrete Market
This study offers a comprehensive, 360 degree analysis on the Precast Concrete market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Precast Concrete market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
Key Research Findings
- The precast concrete market will continue to generate revenues at a healthy 5.3% CAGR during the forecast period.
- Expanding housing market is promoting modular precast concrete as a part of sustainable construction practice.
- Booming digital economies in Asia Pacific (East Asia, South Asia, and Oceania) are investing in developing modern infrastructure which employs precast concrete. These economies collectively account for 65% share of the total market value.
- With major application in industrial sheds, and manufacturing units, structural building components built from precast concrete hold a over 44% share of the total market value.
- Investments by developing countries in building roadways and railways to enhance connectivity make transportation precast concrete products a high growth category. The transportation segment will witness an impressive 7% CAGR during the forecast period.
- Infrastructure will be the highest growing end-use segment with a strong 6.2% CAGR from 2020 to 2030.
KEY DETERMINANTS OF GROWTH IN PRECAST CONCRETE MARKET
Countries such as India, and Indonesia are witnessing exponential growth. Successful digital start-ups are central to growth of these economies. This has also increased the disposable income of consumers, meaning an increase in demand for modern products from new cities and states. Hence, to cater to this surge in demand, governments of these countries are investing in road infrastructure, railways and other modes of transport.
Since precast concrete has solid applications in construction of transportation infrastructure, manufacturers find remunerative opportunities in booming digital economies. Similar investments in developing modern commercial complexes drive the demand for architectural and structural precast concrete components in these economies. This can also be attributed to the rising demand for affordable housing by growing middle class population and proliferation of advanced construction techniques.
COVID-19 Cripples Healthy Growth
The pandemic has disrupted supply chains across industries. Precast concrete manufacturers are also facing headwinds. The shortage of raw materials, workforce, and logistics continues to hamper market growth. Key players that reply on import and export for business operations are forced to rely on their cash reserves. As construction activities come to a standstill in most countries, there is a steep decline in demand for precast concrete products. To stop the rampant spread of novel coronavirus, many countries have imposed trade restrictions. This has posed an adverse effect on the value chain of precast concrete manufacturers.
High impact of the virus in key countries such as China, the US, and India forces market players to scout for sustainable opportunities elsewhere. In such a scenario, many are mapping new trade routes that avoid high impact regions. The growth of the precast concrete market in Q1 and Q2 of financial year 2020 is expected to continue at a sluggish rate. Construction workers have stopped reporting to existing construction sites as a result of social distancing norms.
Contractors and subcontractors are also facing a shortage of labor which further pushes the deadlines of projects. Government aid in terms of tax exemptions, financial aid, and deadline penalties is expected. However, the recovery rate from financial losses is entirely dependent on the success of countries in containing COVID-19 spread and developing vaccines for the same. Initial stage trials have begun in the US, and India. Manufacturers are closely tracking the developments in high growth regions to leverage first-mover advantage once trade restrictions are lifted.
Precast Concrete Market Structure Analysis
- The market is highly fragmented, with manufacturers focusing on developing cost-efficient and high-performance products.
- Enhancing the structural integrity of precast concrete products by leveraging advanced materials and industrial automation is a popular competitive strategy.
North America, Latin America, Europe, South Asia & Oceania, East Asia, and Middle East & Africa
Boral Limited, Lafarge, Gulf Precast Concrete Co. LLC, Olson Precast Company, CEMEX S.A.B. de C.V., Forterra, Tindall Corporation, Spancrete, and ELO Beton.
A recent market study published by FMI on the precast concrete market includes the global industry analysis of 2015-2019 & opportunity assessment for 2020-2030, and delivers a comprehensive assessment of the most important market dynamics. Our analysts conduct thorough research on the historical as well as current growth parameters of the market to obtain growth prospects with maximum precision.
Precast Concrete Market: Segmentation
Chapter 01 - Executive Summary
The report initiates with the executive summary of the precast concrete Market, which includes a summary of the key findings and statistics of the market. It also includes the demand & supply-side trends pertaining to the Market.
Chapter 02 - Market Overview
In this chapter, readers can find the definition and a detailed taxonomy of the precast market, which will help them understand the basic information about the market. This section also highlights the inclusions and exclusions, which help readers understand the scope of the market report.
Chapter 03 - Key Success Factors
This section includes key successful factors and strategies adopted by key market participants.
Chapter 04 - Global Market Demand Analysis 2015-2019 & Opportunity Assessment 2020-2030
This section explains the global market value analysis and forecast for the precast concrete market for the forecast period of 2020-2030. This chapter includes a detailed analysis of the historical market, along with an opportunity analysis for the future. Readers can also find the absolute $ opportunity for the current year (2020), and an incremental $ opportunity for the forecast period (2020-2030). Along with this, pricing analysis of the market at the regional level has been provided in this section. This section also explains the global market volume analysis and forecast for the market in the forecast period of 2020-2030.
Chapter 05 - Market Background
This chapter explains key macroeconomic factors that are expected to influence the growth of the chitosan market over the forecast period. Along with the macroeconomic factors, this section also highlights supply chain, forecast factors, and value chain analysis for the market. Moreover, in-depth information about the market dynamics and their impact analysis on the market have been provided in the successive section.
Chapter 06 - Global Market Analysis 2015-2019 & Opportunity Assessment 2020-2030 by Products
This chapter provides details about the market on the basis of products has been classified into structural building components, architectural building components, transportation products, water & waste handling products, and others. In this chapter, readers can understand the market attractiveness analysis based on product type.
Chapter 07 - Global Market Analysis 2015-2019 & Opportunity Assessment 2020-2030 by Region
This chapter explains how the Market will grow across various geographic regions such as North America, Latin America, Europe, East Asia, South Asia, Oceaniam and the Middle East & Africa (MEA).
Chapter 8 - North America Market Analysis 2015-2019 & Opportunity Assessment 2020-2030
This chapter includes a detailed analysis of the growth of the North America Market, along with a country-wise assessment that includes the U.S. and Canada. Readers can also find the pricing analysis, regional trends, and market growth based on product, end-use, and countries in North America.
Chapter 9 - Latin America Market Analysis 2015-2019 & Opportunity Assessment 2020-2030
This chapter provides the growth scenario of the precast concrete market in Latin American countries such as Brazil, Mexico, and the Rest of Latin America. Along with this, an assessment of the market across target segments has been provided.
Chapter 10 -Europe Market Analysis 2015-2019 & Opportunity Assessment 2020-2030
Important growth prospects of the market based on its end users in several countries such as Germany, France, the U.K., Spain, BENELUX, Russia, Italy, and the Rest of Europe are included in this chapter.
Chapter 11 - East Asia Market Analysis 2015-2019 & Opportunity Assessment 2020-2030
This chapter highlights the growth of the market in East Asia by focusing on China, Japan, and South Korea. This section also helps readers understand the key factors that are responsible for the growth of the precast concrete products market in East Asia.
Chapter 12 - South Asia Market Analysis 2015-2019 & Opportunity Assessment 2020-2030
This chapter highlights the growth of the market in South Asia by focusing on India, Thailand, Indonesia, Malaysia, and the Rest of South Asia. This section also helps readers understand the key factors that are responsible for the growth of the Market in South Asia.
Chapter 13 - Oceania Market Analysis 2015-2019 & Opportunity Assessment 2020-2030
This chapter highlights the growth of the market in Oceania by focusing on Australia, New Zealand. This section also helps readers understand the key factors that are responsible for the growth of products in the Oceania market.
Chapter 14 - Middle East & Africa Market Analysis 2015-2019 & Opportunity Assessment 2020-2030
This chapter provides information about how the precast concrete market will grow in major countries in the MEA region such as GCC, Turkey, Northern Africa, South Africa, and the Rest of MEA, during the forecast period of 2020-2030.
Chapter 15 - Market Structure Analysis
In this chapter, readers can find detailed information about the tier analysis and market concentration of key players in the market, along with their market presence analysis by region and product portfolio.
Chapter 16 - Competition Analysis
In this chapter, readers can find a comprehensive list of all the prominent stakeholders in the market, along with detailed information about each company, which includes company overview, revenue shares, strategic overview, and recent company developments. Some of the market players featured in the report are Boral Limited, Lafarge, Gulf Precast Concrete Co. LLC, Olson Precast Company, CEMEX S.A.B. de C.V., Forterra, Tindall Corporation, Spancrete, and ELO Beton.
Chapter 17 - Assumptions and Acronyms
This chapter includes a list of acronyms and assumptions that provide a base to the information and statistics included in the precast concrete market report.
Chapter 18 - Research Methodology
This chapter helps readers understand the research methodology followed to obtain various conclusions as well as important qualitative and quantitative information about the precast concrete market.