The Indonesia Precast Concrete Market size is expected to reach USD 2.32 billion by 2025, registering a CAGR of 14.2% over the forecast period, according to a new report published by Grand View Research, Inc. Growing construction expenditure for public infrastructure development in the country is predicted to boost the growth.
Key players are heavily investing in R&D activities to develop low cost and high-value concrete formulations. The implementation of regulatory guidelines that promote the construction of green and energy efficient buildings is expected to drive the product demand. The companies focus on developing green building products with the emphasis on eco-friendliness and energy efficiency.
Companies engage in partnership strategies with raw material suppliers and manufacturing companies to maintain their position in the market for precast concrete. Some of the players have opted for trade within their operational region to cut down on raw material procurement and operation costs. This also helps local companies to cater to high quality and economical products to the consumers.
Presence of a large number of suppliers, leading to low switching cost is expected to increase the bargaining power of buyers. The precast concrete suppliers in the country try to enter into long-term contracts with the buyers to increase their profitability. Major buyers in the industry are integrated across the supply chain, leading to low reliance on the other suppliers.
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Further key findings from the report suggest:
- Transportation products, including slab, pile, and girder dominated the Indonesia precast concrete market occupying over 57.2% of the revenue share in 2018, owing to its wide use in the construction of bridges, highway, railways, tunnels, and flyovers
- Residential construction is expected to exhibit the fastest consumption of precast concrete in Indonesia, registering a CAGR of 16.7% over the forecast period, owing to various government initiatives such as One Million Houses Program, National Affordable Housing Program, and National Development Program to reduce the deficit in the housing sector
- The use of precast concrete in the building of bridges is expected to realize market revenue of USD 460.2 in 2018 on account of increase in the infrastructure construction in the country
- Major market players are witnessing a high penetration in the domestic market through the development of precast offerings and engaging in partnerships and collaborations with mutually beneficial strategic players to improve and expand their operations
- The companies are employing efforts to expand their network to the regions outside Java, which is characterized by the presence of a lesser number of competitors
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Grand View Research has segmented the Indonesia precast concrete market on the basis of product and end use:
Indonesia Precast Concrete Product Outlook (Revenue, USD Million, 2014 – 2025)
- Structural Building Components
- Architectural Building Components
- Water & Waste Handling Products
Indonesia Precast Concrete End Use Outlook (Revenue, USD Million, 2014 – 2025)
- Shopping Malls
- Other Mass Transportation
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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