Global Precast Construction Industry Share, Size, Growth, Opportunities, Forecast To 2022

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Precast Construction is also referred to as Prefabricated Construction that consists of those buildings where the bulk of structural modules are standardized and manufactured in industries in a locality away from the site and then transported to the actual construction site for assembly.  The factors that propel the growth of the global Precast Construction Market Size include rising demand for new constructions across the globe due to urbanization and industrialization. Additionally, the growth in construction actions in developing countries and rise in preference for sustainable construction methods are an increasing necessity for modern construction technologies. The precast method delivers improved efficacy, high superiority, and enhanced finishing.


The factor that assists Precast Construction to enter the world market is its environmentally-friendly appeal and approval. Several advances in techniques as well as designs have been observed by the industry over the last few years.  On the other hand, there are also factors that hamper the growth of the global Precast Construction Market Size such as the high expenditure on machinery, instability in transportation, and dearth of awareness about the precast construction technology. The global Precast Construction Market Size is classified on the basis of product, type, end-use sector, and geography.  On the basis of product, the global Precast Construction Market Size spans Floors & roofs, Walls, Columns & beams, Staircase, Girders, Lintels, Paving slabs and others. The other products include door & window components, manholes, and water & sewer system products.


On the basis of type, the global Precast Construction Market Size spans Modular constructions and Manufactured homes. In case of types of precast construction, the Modular constructions sector accounts for the major share of the global Precast Construction Market Size and is also anticipated to be the fastest growing sector during the forecast period. The factors that contribute to the growth of Modular constructions sector are the curiosity from builders in using single modules in order to build whole structure in regards to Non-residential and Residential sectors as well as growing investments for evolving global infrastructure.
On the basis of end-user sector, the global Precast Construction Market Size spans Non-residential and Residential. In 2015, the non-residential end-user sector accounted for the major share and is also expected to be the fastest growing end-user sector in the years to come. The factors that attribute to the growth of the global Precast Construction Market Size include rise in urbanization, industrialization, and new constructions all over the world. Additionally, there is an increase in public as well as private investment in the infrastructure sector in the developing economies such as Asia Pacific, the Middle East, and Latin America propel the growth of the market.
On the basis of geography, the global Precast Construction Market Size spans North America, Europe, Asia Pacific, and Rest of the World. Amongst the geographical region Asia Pacific accounts for a large share in the global Precast Construction Market Size. The factors that attribute to the rise of Asia Pacific region include upsurge in industrialization and rising population in Asia Pacific countries such as China, Indonesia, and India, which eventually go through high demand for residential and non-residential constructions. Moreover, the rise in government funds for infrastructural constructions offers prospective for growth of the precast construction market in this region.
Some of the prominent players that fuel the growth of the global Precast Construction Market Size include Komatsu Ltd., Bouygues Construction, Larsen & Toubro Limited, Taisei Corporation, Balfour Beatty plc, Kiewit Corporation, Laing O’Rourke, Julius Berger Nigeria Plc, and Red Sea Housing Services.

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