The global precast construction market wasvalued at around US$ 111 Bn in 2017. It is anticipated to expand at a CAGR ofapproximately 5.1% during the forecast period, according to a new report titled‘Precast Construction Market: Global Industry Analysis, Size, Share, Growth,Trends, and Forecast, 2018–2026’ published by Transparency Market Research(TMR). The report infers that the use of precast construction reduces the leadtime and provides better dynamics such as durability and sustainability to thestructure as compared to the use of conventional construction techniques. Thisis expected to drive the precast construction market during the forecastperiod. Asia Pacific and Europe are leading regions of the precast constructionmarket. The precast construction market in Asia Pacific is projected to expandat a CAGR of more than 6% during the forecast period, owing to a rise ininvestments in residential and infrastructure projects in the region.
Request a Sample-
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=20921
Reductionin Construction Time and Structural Properties of Precast Concrete Products toBoost Market Growth
Precastconstruction saves up to 20% of the total construction time as compared toconventional construction methods. It helps in saving valuable lead time and inreducing the risk of delay or monetary loss in the project, which is expectedto boost the precast construction market. The raw materials used in precastconstruction are inorganic, natural, and recycled resources. Production ofprecast construction components involves minimal processing or chemicaltreatment, which results in low embodied energy value (carbon emissions). Thus,a reduction in carbon emission through the precast construction technology isprojected to drive the precast construction market during the forecast period.Important parameters such as temperature, mix design, and stripping time aremonitored and controlled in a factory environment while producing precastcomponents. A factory-controlled prefabrication environment and elimination ofrectification work render high quality and esthetic value to products, therebyaugmenting their demand. Precast concrete products are resistant to friction,impact, acid, corrosion, abrasion, and other environmental factors. Precastconcrete structures have a longer service life and require minimal repair andmaintenance. High structural strength, increased durability, and betterrigidity are driving demand for precast construction products.
Useof high-quality machinery, equipment, and materials; extensive preproject planning;and high investments in the construction industry are estimated to offerlucrative opportunities to the precast construction market during the forecastperiod. However, high initial cost and logistical and material handling damagesare anticipated to hamper the market.
Request for covid19 impact analysis –
https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=20921
Floor& Roof System Segment to Gain Momentum
Thereport presents a detailed segmentation of the global precast constructionmarket based on its structure system and end-use. In terms of structure system,the floor & roof system segment constituted a major share of the globalprecast construction market in 2017. Floor & roof systems enable a largespan capacity besides providing excellent sound transmission and heatresistance characteristics. Moreover, they provide load distribution propertiesand are ideally used in garages, gymnasiums, paper mills, office &commercial buildings, industrial buildings (food processing industry, papermills), condominiums, apartments, hotels, educational institutions, sewage& water treatment plants, etc.. They are also used as thermal mass toreduce the need for air conditioning. The floor & roof system segment isexpected to expand rapidly, due to the high adoption rate of floor & roofsystems in the precast construction market.
BuildingWorks Segment to Maintain its Dominance
Interms of end-use, the building works segment is projected to hold a dominantshare of the global precast construction market during the forecast period. Thesegment is likely to expand at significant growth rate from 2018 to 2026. Theresidential segment, which is a sub-segment of the building works segment, isprojected to expand at a rapid pace during the forecast period. Precastconcrete construction offers diverse attributes such as low floor-to-floorheight, deflection control, low noise transmission, involvement ofhigh-strength materials, and long spans. Such attributes are effective for theresidential construction industry. Demand for precast construction products inthe residential construction industry is expected to rise due to their direct costreduction, improved constructional efficiency, and superior structuralperformance.
Buy now-
https://www.transparencymarketresearch.com/checkout.php?rep_id=20921<ype=S
AsiaPacific Accelerates in the Market
AsiaPacific and Europe were key regions of the precast concrete market in 2017. Theprecast concrete market in Asia Pacific is anticipated to expand rapidly owingto cross-border investments and business expansion of companies in high-growthareas, such as India and Southeast Asia. A rise in population, rapidurbanization, and robust economic growth are major macroeconomic drivers of theprecast construction market. Regulatory bodies and major firms across theregion are encouraging and promoting constructional activities. China isexpected to become a key region of the precast concrete market, owing to therevival of the Silk Road and proposals of construction on it. The precastmarket in Middle East & Africa is also projected to expand at a robustpace.
ProminentPlayers in the Global Precast Concrete Market
Thereport also provide profiles of leading players operating in the global precastconcrete market such as Bison Manufacturing Limited, Cemex S.A.B. de C.V.,China National Building Material Company Limited, Coltman Precast ConcreteLimited, CRH plc, Elematic Oyj, LafargeHolcim, Larsen & Toubro Limited.,Taisei Corporation, and Weckenmann Anlagentechnik GmbH & Co. KG. Theseplayers offer sustainable and durable solutions to clients. Innovation ofmodern construction equipment and techniques through R&D is one of theapproaches adopted by them.
