Through 2026, demand for precast concrete products is forecast to increase 5.9% per year to $18.5 billion. Gains will be driven by:
- Increased commercial building construction
- A massive influx of federal funding for infrastructure projects
- The rising specification of precast concrete over competitive products because of its durability, strength, ease of installation, and ability to be customized
Commercial Building Market to Drive Demand Growth
Commercial buildings are the most important outlet for precast concrete products, as both the leading market and one of the fastest growing through 2026. Strong opportunities for demand in this market stem from:
- A rebound in underlying construction following losses during the pandemic
- Greater use of precast concrete at the expense of competing materials
Precast concrete products are increasingly specified during the construction of a variety of commercial structures (including high-rise offices, hotels, and industrial buildings) because of their durability and uniformity, which is particularly important for large commercial buildings that require significant volumes of materials because it can speed construction. As skilled labor becomes more expensive and difficult to come by, efficiencies offered by precast products are growing in importance.
Infrastructure Law to Boost Precast Concrete Demand
Precast concrete product demand will be bolstered by the Infrastructure Investment & Jobs Act, which was passed in late 2021 and allocates $1 trillion (over eight years) for a wide array of infrastructure related projects around the US. Many of these projects - including the renovation of bridges, railroads, roads, highways, public utility structures, and water and sewage facilities - will provide opportunities for precast concrete manufacturers.
Precast Concrete Is Making Inroads Against Competitive Products in Structural Construction
Structural building components account for the leading share of precast concrete demand by product, and demand is expected to grow at the fastest pace through 2026. Precast concrete products will be increasingly specified as concrete slabs, prefabricated buildings, foundations, and supports because of their:
- Ease of installation, which reduces construction costs and labor needs, a key factor as workers in general and skilled laborers in particular become increasingly scarce
- Greater durability than competitive products like poured-in-place concrete
- Consistent quality due to their production in factory settings
However, precast concrete products will continue to compete with poured-in-place concrete - throughout the forecast period and beyond - due to the latter’s lower cost and familiarity among building contractors.
Table of Contents
1. Executive Summary2. COVID-19 Pandemic
- Overview
- Impact on the Economy
- Impact on the Construction Industry
- Impact on the Precast Concrete Industry
3. Overview
- Study Scope
- Historical Trends
- Supply & Demand
- Products Overview
- Markets Overview
- Production Methods
- Standard Precast Concrete
- Prestressed Precast Concrete
- Volume & Pricing Trends
- Building Construction Outlook
- Infrastructure Spending Outlook
- Building Codes & Regulations
- Sustainability Initiatives
5. Structural Building Components
- Scope & Product Description
- Products
- Demand by Product
- Concrete Slabs
- Prefabricated Building Systems
- Structural Supports
- Foundations
- Other Structural Components
- Markets
6. Architectural Building Components
- Scope & Market Description
- Products
- Demand by Product
- Decorative Facades
- Roofing Tile
- Siding
- Window & Door Components
- Fencing
- Other Architectural Components
- Markets
7. Water Handling Products
- Scope & Product Description
- Products
- Demand by Product
- Septic Tanks
- Manholes
- Drains, Channels, & Collection Units
- Culverts
- Interceptors & Separators
- Other Water Handling Products
- Markets
8. Other Precast Concrete Products
- Scope & Product Description
- Products
- Demand by Product
- Bridge Components (Supports, Tees & Slabs)
- Utility Products
- Pilings, Caissons, & Piers
- Paving Slabs & Panels
- Noise & Traffic Barriers
- Retaining Walls
- Railroad Ties & Crossing Panels
- All Other Precast Concrete Products
- Markets
9. Buildings Market
- Market Scope
- Product Trends
- Market Sectors
- Residential Buildings
- Product Trends & Key Growth Drivers
- New Construction
- Improvement & Repair
- Commercial Buildings
- Product Trends & Key Growth Drivers
- New Construction
- Improvement & Repair
10. Infrastructure Markets
- Market Scope
- Product Trends & Key Growth Drivers
- Market Sectors
- Demand by Sector
- Roads & Bridges
- Water & Sewer
- Electric Utilities
- Other Infrastructure Projects (Railroad, Marine, Airport)
11. Niche Markets
- Market Sectors
- Cemetery Products
- Agricultural Structures
- Landscaping Retaining Walls
- Consumer & Commercial Products
12. Regional Trends
- Demand by Region
- Northeast
- Demand by Subregion
- New England
- Middle Atlantic
- Midwest
- Demand by Subregion
- East North Central
- West North Central
- South
- South Atlantic
- East South Central
- West South Central
- West
- Mountain
- Pacific
13. Industry Structure
- Key Findings & Industry Composition
- Market Share
- Mergers & Acquisitions
- List of Industry Participants
14. Appendix
- Report Details
- Definitions
- Abbreviations
- Methodology
- Study-Specific Methodology
- Sources
- Associations & Agencies
- Related Studies & Reports
- Macroeconomic Assumptions
- Economic Environment
- Demographic Trends
- Consumer Spending
- Consumer Financing
- Residential Building Construction
- Residential Improvements & Repairs
- Commercial Building Construction
- Commercial Building Improvements & Repairs
- Nonbuilding Construction Expenditures
- Housing Stock
List of Tables
2. COVID-19 Pandemic
Table 2-1 - Macroeconomic Indicators, 2019 - 2023 (billion 2012 dollars)
Table 2-2 - Construction Expenditures, 2019 - 2023 (billion 2012 dollars & billion dollars)
Table 2-3 - Annual Precast Concrete Demand by Product, 2019 - 2022 (million dollars)
Table 2-4 - Annual Precast Concrete Demand by Market, 2019 - 2022 (million dollars)
3. Overview
Table 3-1 - Precast Concrete Product Demand, 2011 - 2021 (million dollars)
Table 3-2 - Precast Concrete Product Supply & Demand, 2011 - 2031 (million dollars)
Table 3-3 - Precast Concrete Demand by Product, 2011 - 2031 (million dollars)
Table 3-4 - Precast Concrete Product Demand by Market, 2011 - 2031 (million dollars)
Table 3-5 - Precast Concrete Product Demand by Production Method, 2011 - 2031 (million dollars & million 2012 dollars)
Table 3-6 - Precast Concrete Product Average Price by Production Method, 2011 - 2031 (dollars per cubic yard)
5. Structural Building Components
Table 5-1 - Precast Concrete Structural Building Component Demand by Product, 2011 - 2031 (million dollars)
Table 5-2 - Precast Concrete Slab Demand by Type & End Use, 2011 - 2031 (million dollars)
Table 5-3 - Precast Concrete Prefabricated Building System Demand by Market, 2011 - 2031 (million dollars)
Table 5-4 - Precast Concrete Structural Support Demand by Type, 2011 - 2031 (million dollars)
Table 5-5 - Precast Concrete Foundation Demand by Type, 2011 - 2031 (million dollars)
Table 5-6 - Other Precast Concrete Structural Component Demand, 2011 - 2031 (million dollars)
Table 5-7 - Precast Concrete Structural Building Component Demand by Market, 2011 - 2031 (million dollars)
6. Architectural Building Components
Table 6-1 - Precast Concrete Architectural Building Component Demand by Product, 2011 - 2031 (million dollars)
Table 6-2 - Decorative Façade Precast Concrete Product Demand by Market & Application, 2011 - 2031 (million dollars)
Table 6-3 - Precast Concrete Roofing Tile Demand by Market & Application, 2011 - 2031 (million dollars)
Table 6-4 - Precast Concrete Siding Demand by Market, 2011 - 2031 (million dollars)
Table 6-5 - Precast Concrete Window & Door Component Demand by Market & Application, 2011 - 2031 (million dollars)
Table 6-6 - Precast Concrete Fencing Demand by Market & Application, 2011 - 2031 (million dollars)
Table 6-7 - Other Architectural Precast Concrete Product Demand by Market & Application, 2011 - 2031 (million dollars)
Table 6-8 - Precast Concrete Architectural Component Demand by Market & Application, 2011 - 2031 (million dollars)
7. Water Handling Products
Table 7-1 - Precast Concrete Water Handling Product Demand by Product, 2011 - 2031 (million dollars)
Table 7-2 - Precast Concrete Septic Tank Demand by Market & Application, 2011 - 2031 (million dollars)
Table 7-3 - Precast Concrete Interceptor & Separator Demand by Market, 2011 - 2031 (million dollars)
Table 7-4 - Precast Concrete Water Handling Product Demand by Market & Application, 2011 - 2031 (million dollars)
8. Other Precast Concrete Products
Table 8-1 - Other Precast Concrete Product Demand by Product, 2011 - 2031 (million dollars)
Table 8-2 - Precast Concrete Bridge Component Demand by Type, 2011 - 2031 (million dollars)
Table 8-3 - Precast Concrete Utility Product Demand by Type, 2011 - 2031 (million dollars)
Table 8-4 - Precast Concrete Barrier Demand by Type, 2011 - 2031 (million dollars)
Table 8-5 - Precast Concrete Retaining Wall Demand by Type, 2011 - 2031 (million dollars)
Table 8-6 - All Other Precast Concrete Product Demand by Type, 2011 - 2031 (million dollars)
Table 8-7 - Other Precast Concrete Product Demand by Market Application, 2011 - 2031 (million dollars)
9. Buildings Market
Table 9-1 - Building Precast Concrete Product Demand by Product, 2011 - 2031 (million dollars)
Table 9-2 - Building Precast Concrete Product Demand by Market, 2011 - 2031 (million dollars)
Table 9-3 - Residential Building Precast Concrete Demand by Product & Application, 2011 - 2031 (million dollars)
Table 9-4 - New Residential Building Precast Concrete Demand by Product, 2011 - 2031 (million dollars)
Table 9-5 - Residential Improvement & Repair Precast Concrete Demand by Product, 2011 - 2031 (million dollars)
Table 9-6 - Commercial Building Precast Concrete Demand by Product & Application, 2011 - 2031 (million dollars)
Table 9-7 - New Commercial Building Precast Concrete Demand by Product, 2011 - 2031 (million dollars)
Table 9-8 - Commercial Improvement & Repair Precast Concrete Demand by Product, 2011 - 2031 (million dollars)
10. Infrastructure Markets
Table 10-1 - Infrastructure Precast Concrete Demand by Product, 2011 - 2031 (million dollars)
Table 10-2 - Infrastructure Precast Concrete Product Demand by Sector, 2011 - 2031 (million dollars)
Table 10-3 - Road & Bridge Precast Concrete Product Demand by Type, 2011 - 2031 (million dollars)
Table 10-4 - Water & Sewer Precast Concrete Product Demand by Type, 2011 - 2031 (million dollars)
Table 10-5 - Other Infrastructure Precast Concrete Product Demand by Type, 2011 - 2031 (million dollars)
11. Niche Markets
Table 11-1 - Niche Precast Concrete Product Demand, 2011 - 2031 (million dollars)
Table 11-2 - Cemetery Precast Concrete Product Demand, 2011 - 2031 (million dollars)
Table 11-3 - Precast Concrete Agricultural Structure Demand, 2011 - 2031 (million dollars)
Table 11-4 - Precast Concrete Landscaping Retaining Wall Demand, 2011 - 2031 (million dollars)
Table 11-5 - Consumer & Commercial Precast Concrete Product Demand, 2011 - 2031 (million dollars)
12. Regional Trends
Table 12-1 - Precast Concrete Product Demand by Region, 2011 - 2031 (million dollars)
Table 12-2 - Northeast: Precast Concrete Product Demand by Subregion, 2011 - 2031 (million dollars)
Table 12-3 - Midwest: Precast Concrete Product Demand by Subregion, 2011 - 2031 (million dollars)
Table 12-4 - South: Precast Concrete Product Demand by Subregion, 2011 - 2031 (million dollars)
Table 12-5 - West: Precast Concrete Product Demand by Subregion, 2011 - 2031 (million dollars)
13. Industry Structure
Table 13-1 - Precast Concrete Product Sales by Company, 2021 (million dollars)
Table 13-2 - Selected Mergers & Acquisitions
Table 13-3 - Selected Industry Participants
14. Appendix
Table 14-1 - Relevant Industry Codes
Table 14-2 - Relevant HS/HTS Codes
Table 14-3 - Abbreviations & Acronyms Used in Study
Table 14-4 - Macroeconomic Indicators, 2011 - 2031 (billion 2012 dollars)
Table 14-5 - Population & Households, 2011 - 2031 (million persons)
Table 14-6 - Personal Consumption Expenditures, 2011 - 2031 (billion dollars)
Table 14-7 - Consumer Financing Environment, 2011 - 2021
Table 14-8 - Residential Building Construction Expenditures, 2011 - 2031 (billion dollars & billion 2012 dollars)
Table 14-9 - Residential Improvement & Repair Expenditures, 2011 - 2031 (billion dollars & billion 2012 dollars)
Table 14-10 - Commercial Building Construction Expenditures, 2011 - 2031 (billion dollars & billion 2012 dollars)
Table 14-11 - Commercial Building Improvement & Repair Expenditures, 2011 - 2031 (billion dollars & billion 2012 dollars)
Table 14-12 - Nonbuilding Construction Expenditures, 2011 - 2031 (billion dollars & billion 2012 dollars)
Table 14-13 - Housing Stock by Type, 2011 - 2031 (million units)
List of Figures
1. Executive Summary
Figure 1-1 - US Precast Concrete Market Overview
2. COVID-19 Pandemic
Figure 2-1 - Real GDP by Economic Sector, 2020 - 2023 (% annual change)
Figure 2-2 - Precast Concrete Value Demand by Market, 2019 - 2023 (% annual change)
3. Overview
Figure 3-1 - Precast Concrete Products: Product Examples
Figure 3-2 - Precast Concrete Product Demand, 2005 - 2021 (million dollars)
Figure 3-3 - Precast Concrete Demand by Product, 2011 - 2031 (million dollars)
Figure 3-4 - Precast Concrete Product Demand by Market, 2011 - 2031 (million dollars)
Figure 3-5 - Precast Concrete Product Demand by Production Method, 2011 - 2031 (million dollars)
Figure 3-6 - Precast Concrete Product Prices, 2003 - 2026 (dollar per cubic yard)
4. Factors Impacting Precast Concrete Demand
Figure 4-1 - US Construction Expenditures by Building Type, 2010 - 2030 (billion dollars)
5. Structural Building Components
Figure 5-1 - Precast Concrete Structural Building Components: Product Examples
Figure 5-2 - Precast Concrete Structural Building Component Demand by Product, 2011 - 2031 (million dollars)
6. Architectural Building Components
Figure 6-1 - Architectural Building Components: Product Examples
Figure 6-2 - Precast Concrete Architectural Building Component Demand by Product, 2011 - 2031 (million dollars)
7. Water Handling Products
Figure 7-1 - Precast Concrete Water Handling Products: Examples
Figure 7-2 - Water Handling Precast Concrete Demand by Product, 2011 - 2031 (million dollars)
Figure 7-3 - Precast Concrete Manhole Demand, 2005 - 2026 (million dollars)
Figure 7-4 - Precast Concrete Drain, Channel, & Collection Unit Demand, 2005 - 2026 (million dollars)
Figure 7-5 - Precast Concrete Culvert Demand, 2005 - 2026 (million dollars)
Figure 7-6 - Other Precast Concrete Water Handling Product Demand, 2005 - 2026 (million dollars)
8. Other Precast Concrete Products
Figure 8-1 - Other Precast Concrete Products: Examples
Figure 8-2 - Other Precast Concrete Product Demand by Product, 2011 - 2031 (million dollars)
Figure 8-3 - Precast Concrete Piling, Caisson, & Pier Demand, 2005 - 2026 (million dollars)
Figure 8-4 - Precast Concrete Paving Slab & Panel Demand, 2005 - 2026 (million dollars)
Figure 8-5 - Precast Concrete Railroad Tie & Crossing Panel Demand, 2007 - 2026 (million dollars)
10. Infrastructure Markets
Figure 10-1 - Electric Utility Precast Concrete Product Demand, 2005 - 2026 (million dollars)
11. Niche Markets
Figure 11-1 - Niche Precast Concrete Product Examples
12. Regional Trends
Figure 12-1 - Precast Concrete Product Demand by Region, 2011 - 2031 (million dollars)
Figure 12-2 - New England Precast Concrete Product Demand, 2005 - 2026 (million dollars)
Figure 12-3 - Middle Atlantic Precast Concrete Product Demand, 2005 - 2026 (million dollars)
Figure 12-4 - East North Central Precast Concrete Product Demand, 2005 - 2026 (million dollars)
Figure 12-5 - West North Central Precast Concrete Product Demand, 2005 - 2026 (million dollars)
Figure 12-6 - South Atlantic Precast Concrete Product Demand, 2005 - 2026 (million dollars)
Figure 12-7 - East South Central Precast Concrete Product Demand, 2005 - 2026 (million dollars)
Figure 12-8 - West South Central Precast Concrete Product Demand, 2005 - 2026 (million dollars)
Figure 12-9 - Mountain Precast Concrete Product Demand, 2005 - 2026 (million dollars)
Figure 12-10 - Pacific Precast Concrete Product Demand, 2005 - 2026 (million dollars)
13. Industry Structure
Figure 13-1 - US Precast Concrete Product Market Share, 2021 (billion dollars)
Figure 13-2 - Projected US Precast Concrete Product Market Share, 2022
Figure 13-3 - US Precast Concrete Product Market: Leading Supplier, 2021
Figure 13-4 - US Precast Concrete Product Market: Second Leading Supplier, 2021
Figure 13-5 - US Precast Concrete Product Market: Third Leading Supplier, 2021
Figure 13-6 - US Precast Concrete Product Market: Fourth Leading Supplier, 2021
14. Appendix
Figure 14-1 - Housing Stock: Share by Year of Construction, 2021 (percent)
Samples
LOADING...
Methodology
LOADING...
