The Latest Precast Concrete Industry Statistics Explained
The global precast concrete market size was valued at USD 92.14 billion in 2020. (source URL)
The statistic indicates that the total market value of precast concrete worldwide in 2020 was USD 92.14 billion. Precast concrete refers to concrete elements that are manufactured off-site in a controlled environment and then transported to the construction site for assembly. The value of the market suggests the significant demand for precast concrete products in various construction projects such as buildings, bridges, and infrastructure developments globally. This statistic is reflective of the growing trend in the construction industry towards utilizing precast concrete for its cost-effectiveness, durability, and efficiency in construction processes.
The precast concrete industry is projected to reach USD 138.96 billion by 2028. (source URL)
This statistic indicates that the precast concrete industry is expected to experience substantial growth, with a projected market value of USD 138.96 billion by the year 2028. This projected value suggests a promising future for the industry, potentially driven by various factors such as increasing demand for sustainable construction practices, cost-efficiency, and time-saving advantages of precast concrete products. The growth trend highlighted by this statistic signals opportunities for businesses within the precast concrete sector, as well as for suppliers and other stakeholders in the construction industry.
It is anticipated to exhibit a CAGR of 5.3% during the forecast period 2021-2028. (source URL)
The statistic indicates that the metric being forecasted is expected to grow at a Compound Annual Growth Rate (CAGR) of 5.3% over the period spanning from 2021 to 2028. This means that on average, the value of the metric is projected to increase by 5.3% each year during this timeframe. CAGR is a useful measure for assessing the overall growth rate of a metric over multiple periods, smoothing out fluctuations and providing a steady rate of growth to predict future values. This projection provides insight into the expected trajectory of the metric over the specified forecast period, indicating a moderate but consistent growth trend.
The buildings and residential segments led the precast concrete market in 2020. (source URL)
The statistic indicates that in 2020, the buildings and residential segments were the driving forces in the precast concrete market. This suggests that a significant portion of precast concrete products were used in construction projects related to buildings and residential structures during that year. This trend may be indicative of a high demand for precast concrete in the construction industry for these specific segments, potentially due to factors such as cost-effectiveness, efficiency, and durability offered by precast concrete products compared to traditional construction methods.
Precast concrete demand in the U.S. increased significantly in 2020 because of its weather resistance. (source URL)
The statistic ‘Precast concrete demand in the U.S. increased significantly in 2020 because of its weather resistance’ indicates that there was a notable rise in the demand for precast concrete products within the United States during the year 2020, likely attributed to the material’s ability to withstand various weather conditions effectively. This suggests that the construction industry and other sectors that rely on precast concrete products recognized the durability and resilience of precast concrete against harsh weather elements, leading to an increased preference for this material in building projects and infrastructure development. The higher demand for precast concrete could be linked to the growing awareness of its benefits in withstanding extreme weather events, ensuring structural integrity and longevity in construction projects.
Data states that around 1,500 precast plants are in North America alone. (source URL)
The statistic that around 1,500 precast plants are in North America alone provides valuable insight into the scale and prevalence of the precast concrete industry in the region. This statistic suggests a significant presence of precast manufacturing facilities, highlighting the widespread use and demand for precast concrete products in construction projects across North America. The sheer number of precast plants indicates a substantial contribution to the construction sector, emphasizing the popularity of precast concrete due to its cost-effectiveness, quality control, and efficiency in construction processes. This information underscores the importance of precast concrete as a key building material in the North American construction industry and underscores its significant role in shaping the built environment.
In 2020, building walls comprised 58% of the total market share in the precast concrete industry. (source URL)
The statistic indicates that in 2020, building walls made up 58% of the total market share in the precast concrete industry. This suggests that a significant portion of the industry’s activities revolved around the production and sale of precast concrete walls specifically for construction purposes. This information is important for stakeholders in the construction and concrete industries as it provides insight into the specific product segment that dominated the market in 2020. Understanding market share trends can help businesses make informed decisions regarding product development, marketing strategies, and resource allocation within the precast concrete industry.
The flooring and roofing segment in the precast concrete market is expected to grow at a CAGR of 5.02% during 2021-2026. (source URL)
The statistic stating that the flooring and roofing segment in the precast concrete market is expected to grow at a compound annual growth rate (CAGR) of 5.02% during the period 2021-2026 indicates the projected annualized growth rate over the specified timeframe. This suggests that demand for precast concrete products specifically in the flooring and roofing segments is anticipated to increase steadily at a rate of 5.02% each year. The CAGR is a useful metric for assessing the overall growth trajectory of a market segment as it smoothens out short-term fluctuations, providing a more comprehensive view of the segment’s performance over the specified period.
The Middle East & Africa is expected to emerge as the fastest-growing region in the precast concrete market due to growing construction activities. (source URL)
The statistic indicates that the Middle East & Africa region is projected to experience the highest rate of growth in the precast concrete market compared to other regions. This growth is attributed to the increasing construction activities taking place in the region. The demand for precast concrete products is expected to surge as these materials offer advantages such as efficiency, cost-effectiveness, and durability, making them ideal for the construction of various infrastructure projects. The booming construction industry in the Middle East & Africa is likely to drive the expansion of the precast concrete market in the region, presenting opportunities for manufacturers, suppliers, and other stakeholders to capitalize on this growth trend. (source URL)
In 2019, China held the largest market share for precast concrete products in the Asia Pacific region. (source URL)
The statistic indicates that in 2019, China dominated the precast concrete products market within the Asia Pacific region, holding the highest market share compared to other countries in the area. This suggests that China had a significant influence and presence in the production and consumption of precast concrete products such as beams, slabs, and panels among others. This may be attributed to factors such as China’s large infrastructure development projects, high demand for construction materials, and technological advancements in precast concrete manufacturing processes. The statistic showcases China’s strong position in the precast concrete industry within the Asia Pacific region during the specified timeframe.
The non-residential segment is projected to reach USD 59.67 billion by 2028 at a CAGR of 5.60%. (source URL)
This statistic indicates that the non-residential segment, which likely refers to commercial or industrial sectors, is forecasted to grow to a value of USD 59.67 billion by the year 2028. The growth rate is projected to be at a Compound Annual Growth Rate (CAGR) of 5.60%, suggesting a steady increase over the specified time period. This information can be valuable for stakeholders in the real estate, construction, and related industries, as it provides insight into the expected expansion and potential opportunities within the non-residential sector in the coming years. The source URL should be consulted for more detailed information and methodology behind the projections.
Precast concrete use in transportation infrastructure projects accounted for USD 12.39 million of total market revenue in 2020. (source URL)
The statistic stating that precast concrete use in transportation infrastructure projects accounted for USD 12.39 million of total market revenue in 2020 indicates the monetary value associated with the adoption of precast concrete in the construction of transportation infrastructure projects during that year. This figure represents the specific contribution of precast concrete towards the overall market revenue derived from transportation infrastructure projects in 2020. The utilization of precast concrete in such projects is significant as it points to the industry’s recognition of the material’s benefits, including speed of construction, cost-effectiveness, and durability. This statistic serves to highlight the economic importance and growing preference for precast concrete in the development of transportation infrastructure.
Precast concrete has accounted for approximately 60% of building construction in some parts of Europe. (source URL)
The statistic indicates that precast concrete construction has been a dominant method in building construction, comprising around 60% of projects in certain regions of Europe. Precast concrete refers to elements that are manufactured off-site and then transported to the construction site for assembly, offering advantages such as reduced construction time, improved quality control, and enhanced structural performance. The high prevalence of precast concrete in building construction suggests its popularity and effectiveness in meeting the demands of the construction industry in terms of efficiency, sustainability, and cost-effectiveness. This statistic underscores the significant role precast concrete plays in shaping the built environment and its widespread acceptance within certain European markets.
The use of precast concrete for sewage and water-related infrastructure will likely show a 4% growth rate from 2021 to 2027. (source URL)
The statistic stating that the use of precast concrete for sewage and water-related infrastructure is projected to show a 4% growth rate from 2021 to 2027 suggests a positive trend in the adoption of precast concrete technology within the construction industry for these specific applications. This growth rate implies that more projects will be incorporating precast concrete solutions for sewage and water infrastructure needs, indicating potential advancements in efficiency, cost-effectiveness, and sustainability within the sector. The data points to a steady increase in the utilization of precast concrete in infrastructure projects over the specified period, reflecting a shift towards more innovative and durable construction methods for critical water-related infrastructure development.
Global precast concrete for utility and industrial sector expected to register a CAGR of over 3.8% till 2027. (source URL)
The statistic suggests that the global precast concrete market catering to the utility and industrial sectors is projected to experience a Compound Annual Growth Rate (CAGR) exceeding 3.8% up to the year 2027. This indicates a steady annual growth rate in the utilization of precast concrete products in the utility and industrial sectors, potentially driven by factors such as increasing infrastructure development, urbanization, and industrial expansion worldwide. The forecasted growth signals a positive trend in the demand for precast concrete solutions within these sectors over the upcoming years, highlighting the continued importance and relevance of precast concrete in construction and infrastructure projects globally.
Around 30% of the precast concrete market was occupied by the pre-stressed concrete sector in the UK in 2021. (source URL)
The statistic indicates that the pre-stressed concrete sector held a significant market share within the precast concrete industry in the UK during the year 2021. Specifically, around 30% of the total market was attributed to pre-stressed concrete products. This suggests a substantial portion of the demand and production within the precast concrete market was driven by pre-stressed concrete applications. The popularity and use of pre-stressed concrete in various construction projects could be a result of its known benefits such as increased structural strength and durability. This statistic highlights the importance and influence of the pre-stressed concrete sector in shaping the overall landscape of the precast concrete market in the UK.
References
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