SAN FRANCISCO, May 16, 2018
SAN FRANCISCO, May 16, 2018 /PRNewswire/ --
The global precast concrete market size is expected to reach USD 130.11 billion by 2025, according to a report by Grand View Research, Inc., registering a CAGR of 6.1% during the forecast period. Rapid urbanization and population explosion have triggered real estate development in emerging countries such as China, India, Brazil, Malaysia, and South Africa, which, in turn, is anticipated to drive the market over the forecast period.
Precast concrete is an advanced building material and practical solution for fast construction. Precast construction in comparison to conventional construction requires less time and resources. Additionally, precast construction is eco-friendly as it emits very less CO2 in the environment compared to normal concrete construction.
Structural building components are anticipated to form the fastest-growing segment owing to their extensive use in various constructions. Short construction span offered by the product is the main growth driver for this segment.
Governments around the globe are planning to provide affordable housing to those falling under middle and lower class, which is anticipated to further boost residential construction. Increasing urbanization has resulted in creating global demand for better transportation systems. As countries develop plans to meet this soaring demand, the transportation segment is expected to register significant growth in the coming years, with majority demand stemming from countries such as India and China.
Some of the major players are investing heavily in research and development of new and improved products with high strength. Key players are also investing in logistics as precast products require shipping to construction sites.
Browse full research report with TOC on "Precast Concrete Market Size, Share & Trends Analysis Report By Product Type (Structural, Architectural, Transportation, Water & Waste Handling), By End Use, By Region, And Segment Forecasts, 2018 - 2025" at: https://www.grandviewresearch.com/industry-analysis/precast-concrete-market
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