The precast construction market size has grown steadily in recent years. It will grow from $140.18 billion in 2023 to $147.07 billion in 2024 at a compound annual growth rate (CAGR) of 4.9%. The historical period's growth can be linked to architectural versatility, urbanization trends, infrastructure development, housing and commercial construction, as well as regulatory changes and standards.
The precast construction market size is expected to see steady growth in the next few years. It will grow to $177.21 billion in 2028 at a compound annual growth rate (CAGR) of 4.8%. The anticipated growth during the forecast period can be linked to advancements in manufacturing techniques, the demand for sustainable construction, the increase in urbanization projects, infrastructure investment, and the trend towards energy-efficient buildings. Significant trends expected in the forecast period encompass collaborative project delivery models, applications of advanced material science, optimization of efficiency and labor, resilience and disaster mitigation efforts, as well as the promotion of prefabrication and modularization.
The growth in urbanization and industrialization is expected to propel the precast construction market. The rise in income of the middle class leads to discretionary spending and a change in consumption patterns, generating demand for construction and thus opportunities for the precast construction industry. The share of the urban population has increased to 56.2%, which leads to an increase in demand for construction services that offer high-quality construction while saving time and resources. According to the India Brand Equity Foundation (IBEF), in April 2022, the infrastructure sector had become the Government of India's primary focus. India intends to spend $1.4 trillion on infrastructure between 2019 and 2023 to ensure the country's long-term development. Therefore, the increase in infrastructure and construction is leading to a growth in urbanization and industrialization, which drives the precast construction market.
The increasing construction spending is expected to propel the precast construction market. Construction spending refers to the total amount of money invested or expended on construction-related activities within a specific time period. Precast construction plays a significant role in construction spending by offering several advantages such as reduced construction time, labor efficiency, quality control, and others that contribute to cost savings, efficiency, and sustainability. For instance, in December 2023, according to The United States Census Bureau, a US-based federal agency, in October 2023, the estimated construction spending reached approximately $2,027.1 billion, reflecting a 10.7% increase compared to the October 2022 estimate of $1,830.5 billion. Therefore, the increasing construction spending is driving the precast construction market growth.
Sustainable construction techniques are emerging as a significant trend gaining popularity in the precast construction market. The construction industry, known for its substantial natural resource consumption, is facing increasing pressure to reduce its environmental impact in light of climate change and finite natural resources. The drive for efficiency improvement and the promotion of sustainable development in construction relies on the broader adoption of progressive technologies, adherence to government regulations, effective cost control, materials management, and the implementation of modern methods within sustainable construction techniques. As highlighted in a November 2021 report by Dodge Construction Network, there is a projected increase in the utilization of green products and systems across various construction categories. Additionally, a notable surge is anticipated over the next three years (2024) among entities planning to undertake more than 60% of their projects with green initiatives.
Leading companies in the precast construction market are concentrating on developing innovative solutions, including the creation of precast concrete websites, to offer reliable information to customers. A precast concrete website typically serves as an online platform dedicated to providing information, resources, and services related to precast concrete products, technologies, and solutions. For example, in September 2022, the Precast/Prestressed Concrete Institute, a U.S.-based organization specializing in precast and prestressed concrete, launched the 'Precast Protects Life' website. This platform provides a wealth of information and resources showcasing the resilient attributes of precast concrete. Visitors, including architects, building owners, contractors, and others, can easily access videos, case studies, articles, and webinars elucidating the premier resilience, durability, and flexibility of precast concrete as a building material.
In 2021, Cementos Molins, a Spain-based building material company involved in the marketing, distribution, and manufacturing of cement through its subsidiary Precon, acquired Pretersa Prenavisa for an undisclosed amount. This strategic acquisition is poised to enhance Cementos Molins' presence in precast concrete solutions within Spain, Portugal, and France, expanding the company's portfolio of innovative and sustainable building solutions. The acquisition of Pretersa-Prenavisa, a Spain-based construction company specializing in the design, manufacture, and assembly of precast concrete infrastructure, contributes to Cementos Molins' goal of strengthening its position in these regions.
Major companies operating in the precast construction market report are Saint-Gobain SA, Bouygues Construction, CRH PLC, Holcim Group, LafargeHolcim Ltd., Larsen & Toubro Ltd., CEMEX S.A.B. de C.V, IRCON International, Taisei Corporation, Balfour Beatty PLC, Betonmast, Forterra Pipe and Precast LLC, HCC Ltd., Hindustan Construction Company, Afcons Infrastructure, Shapoorji Pallonji & Company, NCC Limited, JMC Projects, Jaiprakash Associates, Tindall Corporation, GÜlermak A.S., HeidelbergCement, Simplex Infrastructures, Jensen Precast, STECS, ELO Beton, Banahen Precast Concrete, Gammon India, Boral Precast Holdings, Gulf Precast Concrete Co. LLC, L&T Construction, Laing O’Rourke, Milbank Concrete Products, Oldcastle Infrastructure, Olson Precast Company, Patel Infrastructure, SigmaRoc, Skanska AB, Spancrete Elementbau Osthessen GmbH & Co. ELO KG.
Asia-Pacific was the largest region in the precast construction market in 2023 and is also expected to be the fastest-growing region in the precast construction market share during the forecast period. The regions covered in the precast construction market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the precast construction market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The main structural configurations in precast construction include the beam & column system, floor & roof system, bearing wall system, and facade system. Beam & column systems encompass both horizontal and vertical components that provide support for double tees, hollow-core, solid slabs, and occasionally other beams and columns holding up beams and spandrels. These precast constructions find applications in modular and manufactured homes, serving both residential and non-residential users.
The precast construction market research report is one of a series of new reports that provides precast construction market statistics, including precast construction industry global market size, regional shares, competitors with a precast construction market share, detailed precast construction market segments, market trends and opportunities, and any further data you may need to thrive in the precast construction industry. This precast construction market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The precast construction market includes revenues earned by entities by building and designing substantial buildings that can manage loads better by avoiding the need for additional columns and beams. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The precast construction market size is expected to see steady growth in the next few years. It will grow to $177.21 billion in 2028 at a compound annual growth rate (CAGR) of 4.8%. The anticipated growth during the forecast period can be linked to advancements in manufacturing techniques, the demand for sustainable construction, the increase in urbanization projects, infrastructure investment, and the trend towards energy-efficient buildings. Significant trends expected in the forecast period encompass collaborative project delivery models, applications of advanced material science, optimization of efficiency and labor, resilience and disaster mitigation efforts, as well as the promotion of prefabrication and modularization.
The growth in urbanization and industrialization is expected to propel the precast construction market. The rise in income of the middle class leads to discretionary spending and a change in consumption patterns, generating demand for construction and thus opportunities for the precast construction industry. The share of the urban population has increased to 56.2%, which leads to an increase in demand for construction services that offer high-quality construction while saving time and resources. According to the India Brand Equity Foundation (IBEF), in April 2022, the infrastructure sector had become the Government of India's primary focus. India intends to spend $1.4 trillion on infrastructure between 2019 and 2023 to ensure the country's long-term development. Therefore, the increase in infrastructure and construction is leading to a growth in urbanization and industrialization, which drives the precast construction market.
The increasing construction spending is expected to propel the precast construction market. Construction spending refers to the total amount of money invested or expended on construction-related activities within a specific time period. Precast construction plays a significant role in construction spending by offering several advantages such as reduced construction time, labor efficiency, quality control, and others that contribute to cost savings, efficiency, and sustainability. For instance, in December 2023, according to The United States Census Bureau, a US-based federal agency, in October 2023, the estimated construction spending reached approximately $2,027.1 billion, reflecting a 10.7% increase compared to the October 2022 estimate of $1,830.5 billion. Therefore, the increasing construction spending is driving the precast construction market growth.
Sustainable construction techniques are emerging as a significant trend gaining popularity in the precast construction market. The construction industry, known for its substantial natural resource consumption, is facing increasing pressure to reduce its environmental impact in light of climate change and finite natural resources. The drive for efficiency improvement and the promotion of sustainable development in construction relies on the broader adoption of progressive technologies, adherence to government regulations, effective cost control, materials management, and the implementation of modern methods within sustainable construction techniques. As highlighted in a November 2021 report by Dodge Construction Network, there is a projected increase in the utilization of green products and systems across various construction categories. Additionally, a notable surge is anticipated over the next three years (2024) among entities planning to undertake more than 60% of their projects with green initiatives.
Leading companies in the precast construction market are concentrating on developing innovative solutions, including the creation of precast concrete websites, to offer reliable information to customers. A precast concrete website typically serves as an online platform dedicated to providing information, resources, and services related to precast concrete products, technologies, and solutions. For example, in September 2022, the Precast/Prestressed Concrete Institute, a U.S.-based organization specializing in precast and prestressed concrete, launched the 'Precast Protects Life' website. This platform provides a wealth of information and resources showcasing the resilient attributes of precast concrete. Visitors, including architects, building owners, contractors, and others, can easily access videos, case studies, articles, and webinars elucidating the premier resilience, durability, and flexibility of precast concrete as a building material.
In 2021, Cementos Molins, a Spain-based building material company involved in the marketing, distribution, and manufacturing of cement through its subsidiary Precon, acquired Pretersa Prenavisa for an undisclosed amount. This strategic acquisition is poised to enhance Cementos Molins' presence in precast concrete solutions within Spain, Portugal, and France, expanding the company's portfolio of innovative and sustainable building solutions. The acquisition of Pretersa-Prenavisa, a Spain-based construction company specializing in the design, manufacture, and assembly of precast concrete infrastructure, contributes to Cementos Molins' goal of strengthening its position in these regions.
Major companies operating in the precast construction market report are Saint-Gobain SA, Bouygues Construction, CRH PLC, Holcim Group, LafargeHolcim Ltd., Larsen & Toubro Ltd., CEMEX S.A.B. de C.V, IRCON International, Taisei Corporation, Balfour Beatty PLC, Betonmast, Forterra Pipe and Precast LLC, HCC Ltd., Hindustan Construction Company, Afcons Infrastructure, Shapoorji Pallonji & Company, NCC Limited, JMC Projects, Jaiprakash Associates, Tindall Corporation, GÜlermak A.S., HeidelbergCement, Simplex Infrastructures, Jensen Precast, STECS, ELO Beton, Banahen Precast Concrete, Gammon India, Boral Precast Holdings, Gulf Precast Concrete Co. LLC, L&T Construction, Laing O’Rourke, Milbank Concrete Products, Oldcastle Infrastructure, Olson Precast Company, Patel Infrastructure, SigmaRoc, Skanska AB, Spancrete Elementbau Osthessen GmbH & Co. ELO KG.
Asia-Pacific was the largest region in the precast construction market in 2023 and is also expected to be the fastest-growing region in the precast construction market share during the forecast period. The regions covered in the precast construction market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the precast construction market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The main structural configurations in precast construction include the beam & column system, floor & roof system, bearing wall system, and facade system. Beam & column systems encompass both horizontal and vertical components that provide support for double tees, hollow-core, solid slabs, and occasionally other beams and columns holding up beams and spandrels. These precast constructions find applications in modular and manufactured homes, serving both residential and non-residential users.
The precast construction market research report is one of a series of new reports that provides precast construction market statistics, including precast construction industry global market size, regional shares, competitors with a precast construction market share, detailed precast construction market segments, market trends and opportunities, and any further data you may need to thrive in the precast construction industry. This precast construction market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The precast construction market includes revenues earned by entities by building and designing substantial buildings that can manage loads better by avoiding the need for additional columns and beams. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Precast Construction Market Characteristics3. Precast Construction Market Trends and Strategies32. Global Precast Construction Market Competitive Benchmarking33. Global Precast Construction Market Competitive Dashboard34. Key Mergers and Acquisitions in the Precast Construction Market
4. Precast Construction Market - Macro Economic Scenario
5. Global Precast Construction Market Size and Growth
6. Precast Construction Market Segmentation
7. Precast Construction Market Regional and Country Analysis
8. Asia-Pacific Precast Construction Market
9. China Precast Construction Market
10. India Precast Construction Market
11. Japan Precast Construction Market
12. Australia Precast Construction Market
13. Indonesia Precast Construction Market
14. South Korea Precast Construction Market
15. Western Europe Precast Construction Market
16. UK Precast Construction Market
17. Germany Precast Construction Market
18. France Precast Construction Market
19. Italy Precast Construction Market
20. Spain Precast Construction Market
21. Eastern Europe Precast Construction Market
22. Russia Precast Construction Market
23. North America Precast Construction Market
24. USA Precast Construction Market
25. Canada Precast Construction Market
26. South America Precast Construction Market
27. Brazil Precast Construction Market
28. Middle East Precast Construction Market
29. Africa Precast Construction Market
30. Precast Construction Market Competitive Landscape and Company Profiles
31. Precast Construction Market Other Major and Innovative Companies
35. Precast Construction Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Precast Construction Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on precast construction market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
- Assess the Russia-Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis.
- Report will be updated with the latest data and delivered to you with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Where is the largest and fastest growing market for precast construction? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Report Scope
Markets Covered:1) By Structure System: Beam & Column System, Floor & Roof System, Bearing Wall System, Facade System
2) By Construction Type: Modular, Manufactured Homes
3) By End-user: Residential, Non-residential
Key Companies Mentioned: Saint-Gobain SA; Bouygues Construction; CRH plc; Holcim Group; LafargeHolcim Ltd.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes
Delivery Format: PDF, Word and Excel Data Dashboard
Companies Mentioned
- Saint-Gobain SA
- Bouygues Construction
- CRH plc
- Holcim Group
- LafargeHolcim Ltd.
- Larsen & Toubro Ltd.
- CEMEX S.A.B. de C.V
- IRCON International
- Taisei Corporation
- Balfour Beatty plc
- Betonmast
- Forterra Pipe and Precast LLC
- HCC Ltd.
- Hindustan Construction Company
- Afcons Infrastructure
- Shapoorji Pallonji & Company
- NCC Limited
- JMC Projects
- Jaiprakash Associates
- Tindall Corporation
- GÜlermak A.S.
- HeidelbergCement
- Simplex Infrastructures
- Jensen Precast
- STECS
- ELO Beton
- Banahen Precast Concrete
- Gammon India
- Boral Precast Holdings
- Gulf Precast Concrete Co. LLC
- L&T Construction
- Laing O’Rourke
- Milbank Concrete Products
- Oldcastle Infrastructure
- Olson Precast Company
- Patel Infrastructure
- SigmaRoc
- Skanska AB
- Spancrete Elementbau Osthessen GmbH & Co. ELO KG
