The precast construction market size has grown steadily in recent years. It will grow from $144.98 billion in 2024 to $151.38 billion in 2025 at a compound annual growth rate (CAGR) of 4.4%. The growth in the historic period can be attributed to architectural versatility, urbanization trends, infrastructure development, housing and commercial construction, regulatory changes and standards.
The precast construction market size is expected to see strong growth in the next few years. It will grow to $187.04 billion in 2029 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to advanced manufacturing techniques, demand for sustainable construction, rise in urbanization projects, infrastructure investment, energy-efficient building trend. Major trends in the forecast period include collaborative project delivery models, advanced material science applications, efficiency and labor optimization, resilience and disaster mitigation, 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 $2.02 trillion, reflecting a 10.7% increase compared to the October 2022 estimate of $1.83 trillion. Therefore, the increasing construction spending is driving the precast construction market growth.
Sustainable construction techniques are emerging as a significant trend in the precast construction market. The construction industry is a major consumer of natural resources, and as concerns about climate change and the depletion of these resources grow, construction companies face increasing pressure to minimize their environmental impact. Achieving greater efficiency and ensuring sustainable development in construction relies on the widespread adoption of advanced technologies, adherence to government regulations, effective cost control, and the use of modern sustainable construction methods. For instance, in August 2024, edie, a UK-based media production company, reported that sustainability targets are now incorporated into 70% of construction projects. The proportion of industry professionals successfully meeting these targets has increased to 43%, up from one-third in 2022. Additionally, there has been a 16% rise in organizations measuring their carbon footprint, with 70% now actively tracking their emissions.
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 July 2024, Wells, a US-based provider of full-service prefabricated building solutions, acquired GATE Precast for an undisclosed amount. This acquisition is intended to broaden Wells' geographic reach and enhance its portfolio of prefabricated building products. By leveraging GATE Precast's expertise in precast concrete, Wells aims to strengthen its ability to deliver comprehensive building solutions across diverse sectors. GATE Precast is recognized as a US-based manufacturer of precast concrete systems.
Major companies operating in the precast construction market include 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 2024 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.
Precast construction involves a technology comprising various precast elements and some customized components that are standardized and designed for a stable market. It encompasses large panels, frames, slab-column systems with shear walls, erection sequences, beams, and other elements.
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 strong growth in the next few years. It will grow to $187.04 billion in 2029 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to advanced manufacturing techniques, demand for sustainable construction, rise in urbanization projects, infrastructure investment, energy-efficient building trend. Major trends in the forecast period include collaborative project delivery models, advanced material science applications, efficiency and labor optimization, resilience and disaster mitigation, 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 $2.02 trillion, reflecting a 10.7% increase compared to the October 2022 estimate of $1.83 trillion. Therefore, the increasing construction spending is driving the precast construction market growth.
Sustainable construction techniques are emerging as a significant trend in the precast construction market. The construction industry is a major consumer of natural resources, and as concerns about climate change and the depletion of these resources grow, construction companies face increasing pressure to minimize their environmental impact. Achieving greater efficiency and ensuring sustainable development in construction relies on the widespread adoption of advanced technologies, adherence to government regulations, effective cost control, and the use of modern sustainable construction methods. For instance, in August 2024, edie, a UK-based media production company, reported that sustainability targets are now incorporated into 70% of construction projects. The proportion of industry professionals successfully meeting these targets has increased to 43%, up from one-third in 2022. Additionally, there has been a 16% rise in organizations measuring their carbon footprint, with 70% now actively tracking their emissions.
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 July 2024, Wells, a US-based provider of full-service prefabricated building solutions, acquired GATE Precast for an undisclosed amount. This acquisition is intended to broaden Wells' geographic reach and enhance its portfolio of prefabricated building products. By leveraging GATE Precast's expertise in precast concrete, Wells aims to strengthen its ability to deliver comprehensive building solutions across diverse sectors. GATE Precast is recognized as a US-based manufacturer of precast concrete systems.
Major companies operating in the precast construction market include 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 2024 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.
Precast construction involves a technology comprising various precast elements and some customized components that are standardized and designed for a stable market. It encompasses large panels, frames, slab-column systems with shear walls, erection sequences, beams, and other elements.
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 Strategies4. Precast Construction Market - Macro Economic Scenario Macro Economic Scenario Including the Impact of Interest Rates, Inflation, Geopolitics and Covid and Recovery on the Market32. Global Precast Construction Market Competitive Benchmarking and Dashboard33. Key Mergers and Acquisitions in the Precast Construction Market34. Recent Developments in the Precast Construction Market
5. Global Precast Construction Growth Analysis and Strategic Analysis Framework
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 High Potential Countries, Segments and Strategies
36. Appendix
Executive Summary
Precast Construction Global Market Report 2025 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.
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Description
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? The precast construction market global 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 forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.
- 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.
Scope
Markets Covered:
1) By Structure System: Beam & Column System, Floor & Roof System, Bearing Wall System, Facade System2) By Construction Type: Modular, Manufactured Homes
3) By End User: Residential, Non-residential
Subsegments:
1) By Beam and Column System: Precast Beams; Precast Columns; Precast Frames2) By Floor and Roof System: Precast Floor Panels; Precast Roof Panels; Hollow Core Slabs
3) By Bearing Wall System: Precast Concrete Walls; Sandwich Panels; Insulated Walls
4) By Facade System: Precast Cladding Panels; Architectural Facades; Precast Decorative Elements
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
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | March 2025 |
| Forecast Period | 2025 - 2029 |
| Estimated Market Value ( USD | $ 151.38 Billion |
| Forecasted Market Value ( USD | $ 187.04 Billion |
| Compound Annual Growth Rate | 5.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 39 |
