The rising emphasis on sustainability and environmental considerations boosts the demand for precast concrete products. Precast concrete, known for its eco-friendly characteristics, can be made using recycled materials and has a reduced carbon footprint compared to traditional construction materials. This aligns well with the increasing adoption of green building practices and sustainable construction methods.
Advances in manufacturing technologies have significantly improved the quality and efficiency of precast concrete production. For instance, Vollert provides advanced technologies for precast concrete, including innovative formwork systems like 3D Pod Moulds and automated production processes. Their solutions cover a range of precast elements, such as circulation plants and Railway concrete sleepers, enhancing efficiency and precision in manufacturing through automation and robotics.
India Precast Concrete Market Report Highlights
- The structural building component segment led the market with the largest revenue share of 36.40% in 2023 and is expected to grow at a significant CAGR over the forecast period. The dominance of structural building components in the product segment of the precast concrete market can be attributed to their superior durability, faster installation process, cost efficiency, and high demand across different construction sectors
- Based on the application, the infrastructure segment led the market with the largest revenue share of 41.47% in 2023, owing to the increasing urbanization, concerns related to sustainability, and technological advancements. The industrial segment is expected to grow at a fastest CAGR rate over the forecast period
- In March 2024, Magicrete positively concluded India's inaugural mass housing project in Ranchi utilizing the 3D Modular Precast Construction System. This project, comprising 1,008 units, stands as a significant achievement in the construction sector, demonstrating the efficiency and efficacy of the 3D modular precast technology in extensive housing developments
Table of Contents
Companies Mentioned
- AACP Infrastructure Systems Pvt. Lt
- Atul Pipe Company
- B.E. Billimoria & Co. Ltd.
- Fuji Silvertech Concrete Private Limited
- LARSEN & TURBO LIMITED
- Magicrete Building Solutions Pvt Ltd
- SCHWING Stetter India
- SHAPOORJI PALLONJI
- Suzlon Energy Limited
- Toyota Forms
- UltraTech Cement Ltd.
- Vollert India Pvt Ltd
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 70 |
Published | May 2024 |
Forecast Period | 2023 - 2030 |
Estimated Market Value ( USD | $ 6.16 Billion |
Forecasted Market Value ( USD | $ 11.33 Billion |
Compound Annual Growth Rate | 9.2% |
Regions Covered | India |
No. of Companies Mentioned | 12 |