Precast Concrete Market Share

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 is estimated to dominate majority revenue share by 2036, 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.

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of precast concrete is assessed at USD 160.32 billion.

Precast Concrete Market size was over USD 152.74 billion in 2023 and is projected to exceed USD 333.87 billion by 2036, growing at over 6.2% CAGR during the forecast period i.e., between 2024-2036. Growing infrastructure development activities along with rising need for housing spaces will impel the market growth.

North America is estimated to dominate majority revenue share by 2036, on the back of constantly increasing commercial construction activities in the region.

The major players in the market are Laing O'Rourke, CEMEX, S.A.B. de C.V., CRH plc, Skanska USA Inc., Balfour Beatty Plc., Gulermak A.S, Holcim Ltd, and others.

Precast Concrete Market Share