Supportive Government Initiatives in Emerging Economies Fuel Europe Precast Concrete Market
Precast concrete is widely used in housing, factories, and leading national laboratories around the world to support government programs. In addition, precast construction is a cost-effective, fast, and environment-friendly building method for large housing projects that do not compromise quality. Housing crisis is one of the world's major issues today. Around 330 million urban households worldwide have substandard living conditions. Around 200 million households in developing countries live in slums. At least 1.6 billion people worldwide are expected to be homeless by 2025. Owing to this, the governments of various economies have taken certain initiatives by investing in infrastructure renewal. Many countries are investing in a variety of ventures as a result of ongoing investment and technological advances. The aim of such large-scale projects is to provide lower-income groups with housing options, generate new job opportunities, and diversify the economy. The supporting government initiatives will provide ample opportunities for the market players operating in the Europe precast concrete market.Europe Precast Concrete Market Overview
The market for the Europe region includes Germany, France, Italy, the UK, Russia, and the Rest of Europe. The automotive industry contributes 6.8% to the GDP of the region. The automotive sector supports the growth of the economy by assisting the supply chain that results in the creation of a diversified array of business opportunities and services. The automotive sector of the EU is a crucial industry as it significantly contributes to the country's GDP as well as employs Mns of people in the region. High production of the automobile in Europe region depicts more demand for precast concrete processes and products. Precast concrete is primarily used in construction of multi-storey car parks. The constructions include putting together precast parking parts such as multi-story structural wall panels, interior and exterior columns, structural floors, girders, wall panels, stairs, and slabs. These parts can need to be lifted into place with the help of precast concrete lifting anchor systems.Economically strong countries like Germany, the UK, and Russia have witnessed significant growth in the implementation of technologically advanced solutions. Other than the automotive sector, building and construction is the other industry flourishing in the region which is bolstering the growth of precast concrete in the region. According to BIBM (Bureau International du Beton Manufacture), buildings account for the largest share of total Europe energy consumption (40 percent) and 36 percent of EU CO2 emissions. Consequently, the construction industry represents an enormous potential in decreasing energy consumption and mitigating climate change. Precast concrete solutions offer highly energy-efficient commercial, educational, and healthcare facilities; drinking water, drainage, water sewage, and sanitation systems; communication and transport infrastructure; and shelter and protection against the forces of nature.
Europe Precast Concrete Market Segmentation
The Europe precast concrete market is segmented based on structure system, end use, and country.Based on structure system, the Europe precast concrete market is segmented into beam and column system, floor and roof system, bearing wall system, façade system, and others. The beam and column system segment held the largest share in 2022.
In terms of end use, the Europe precast concrete market is segmented into residential, commercial, and others. The commercial segment held the largest share in 2022.
Based on country, the Europe precast concrete market is categorized into Germany, France, UK, Italy, Russia, and the Rest of Europe. The Rest of Europe dominated the Europe precast concrete market in 2022.
CRH Plc; Heidelberg Materials AG; Cemex SAB de CV manufacturer; Holcim Ltd; Consolis Group SAS; Elementbau Osthessen GmbH & Co., ELO KG; Forterra Plc; Centrum Pile Ltd.; Balfour Beatty Plc; and Laing O'Rourke Plc are some of the leading companies operating in the Europe precast concrete market.
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Companies Mentioned
- CRH Plc
- Heidelberg Materials AG
- Cemex SAB de CV manufacturer
- Holcim Ltd
- Consolis Group SAS
- Elementbau Osthessen GmbH & Co., ELO KG
- Forterra Plc
- Centrum Pile Ltd.
- Balfour Beatty Plc
- Laing O'Rourke Plc