Precast Concrete Industry - Regional Synopsis
North America Market Statistics
Regionally, the global precast concrete market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.North America industry is likely to dominate majority revenue share by 2037, on the back of constantly increasing commercial construction activities in the region. The United States is foreseen to be the largest construction market in the world, with construction expenditure amounting to over USD 1 billion, per annum. As of 2020, the construction industry holds over 4% of the nation’s GDP. The growing urbanization, coupled with immigration from various countries, has raised the need for offices and other commercial areas, which is estimated to boost the regional market growth.
APAC Market Analysis
The market in the Asia Pacific region is estimated to witness highest CAGR over the forecast period owing to the growing construction industry backed by the increasing population, in nations, including, Singapore, Japan, India, and China.
