The global pre-cast construction market is estimated to showcase a staggering CAGR over the assessment period (2016-2021) owing to the growth in infrastructure and construction industry, asserts Market Research Future (MRFR). Pre-cast construction, also referred to as prefabricated construction finds its application in the construction of buildings and structures, where structural components are made in plants located away from the construction site. It is a technology where construction materials are mixed, cured, and cast in a controlled environment at manufacturing units and are then transported to the site location and assembled.
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Drivers and Constraints Impacting the Market
The global pre-cast construction market is highly dependent on commercial, residential, and infrastructure development. With the growing industrialization, the requirement for time-saving construction methods is required, which has opened the scope for pre-cast construction. With the global awareness regarding eco-friendly construction, the pre-cast construction market is predicted to expand over the assessment period. Moreover, the rapid industrialization and urbanization in the developing countries, growing construction spending, need for low-cost residential units, increased speed of construction, and higher productivity and efficiency attained by pre-cast methods are some of the major factors fueling the market growth over the assessment period.
On the flip side, lack of proper infrastructure supporting pre-cast construction along with customer confidence toward pre-cast construction in earthquake-prone regions are restraining the market growth over the assessment period.
Global Pre-Cast Construction Market: Segmental Analysis
The global pre-cast construction market is segmented based on construction, material, application, and region.
By mode of material, the pre-cast construction market is segmented into wood, plastic, concrete, steel, and others.
By mode of construction, the pre-cast construction market is segmented into modular and manufactured. Among these, the modular construction segment dominates the market and is expected to maintain its dominance over the assessment period owing to the customer demand for speed construction, early return on investment, and improved quality.
By mode of application, the pre-cast construction market is segmented into infrastructure, commercial, residential, and others.
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Geographically, the pre-cast construction market spans across Asia Pacific, North America, Europe, and Rest-of-the-World (RoW).
Among all the regions, Asia Pacific is estimated to dominate the global pre-cast construction market with its fast-growing market globally. The Asia Pacific region is predicted to showcase a rapid infrastructural growth due to high investments in India and China. The rapid growth and development of urban housing demand result in reduced cost and shorter construction timelines. Construction companies in this region are thus adapting cost-effective and proven technologies to ensure uniform quality. Moreover, the inflow of foreign investment into India is expected to augment the market growth over the assessment period. Meanwhile, North America and Europe are expected to project a significant growth rate over the forecast period.
The Louisiana Department of Transportation and Development is testing the use of precast concrete panels on $2.89 million Interstate 20 entrance ramp project near Greenwood, Louisiana. Precast concrete pavement panels will be ready for traffic almost immediately after they are set in place.
v Balfour Beatty
v Komatsu Ltd.
v Kiewit Corporation
v ACS Actividades de Construcción y Servicios S.A.
v Skanska AB Larsen & Toubro Limited
v Red Sea Housing Services
v System House R & C Co., Ltd.
v Taisei Corporation
v Balfour Beatty Plc
v Bouygues Construction
v Laing O’Rourke
v Julius Berger Nigeria Plc.
The report for Global Pre-cast Construction Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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