DUBLIN--(BUSINESS WIRE )--The "Precast Concrete Global Market Report 2022, By Element, By End User" report has been added to ResearchAndMarkets.com's offering.

This report provides strategists, marketers and senior management with the critical information they need to assess the global precast concrete market.

The global precast concrete market is expected to grow from $95.86 billion in 2021 to $100.99 billion in 2022 at a compound annual growth rate (CAGR) of 5.35%.

The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $125.46 billion in 2026 at a CAGR of 5.57%.

The precast concrete market consists of the sales of precast concrete by entities (organizations, partnerships, and sole proprietors) that refer to the prefabricated concrete products made beforehand in a conducive environment. Precast concrete is a simple concrete that has been cast in a location beside the one in which it would be used.

It is easier to control the mix, placement, and curing of precast because it is produced in a managed casting environment. Precast concrete is widely used due to its functional versatility in parking garages, bridges, office buildings, stadiums, shops, and housing with repetitive and modular elements.

Europe was the largest region in the precast concrete market in 2021. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Increasing expenditure on road and water infrastructure is significantly driving the growth of the precast concrete market. The use of precast concrete offers major time and user cost savings in comparison with the traditional cast-in-place methods of construction. Emerging and advanced economies are increasing their spending on road and water infrastructure to bridge the gap between the required infrastructure and available infrastructure.

According to the World Bank report published in 2019, globally, 2.4 billion people do not have improved sanitation facilities, and 1 billion reside 2 kilometers away from an all-weather road. Governments of various countries are increasing their expenditure on the infrastructural developments to bridge this gap.

For instance, in September 2021, the Indian government announced road projects worth INR 1 lakh crore ($13.48 billion) to develop road infrastructure in Jammu and Kashmir. The number of national highways in the region has also increased, from 7 in 2014 to 11 in 2021. These infrastructural developments will invariably increase the demand for precast concrete products. Therefore, the increasing expenditure on road and water infrastructure drives the precast concrete market over the coming years.

3D printing is a key trend gaining popularity in the precast concrete market. Major companies operating in the precast concrete sector are focused on developing new 3D printing solutions to strengthen their position.

3. Precast Concrete Market Trends And Strategies

4. Impact Of COVID-19 On Precast Concrete

5. Precast Concrete Market Size And Growth

5.1. Global Precast Concrete Historic Market, 2016-2021, $ Billion

5.2. Global Precast Concrete Forecast Market, 2021-2026F, 2031F, $ Billion

6.1. Global Precast Concrete Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

6.2. Global Precast Concrete Market, Segmentation By Element, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

6.3. Global Precast Concrete Market, Segmentation By End-User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

7. Precast Concrete Market Regional And Country Analysis

7.1. Global Precast Concrete Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

7.2. Global Precast Concrete Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

For more information about this report visit https://www.researchandmarkets.com/r/oadcpm

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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900