Precast Construction Market
The precast construction market is projected to witness substantial growth in the next few years with the increase in demand for new construction across the world, due to rapid urbanisation and industrialisation with large-scale investments in the industrial and infrastructure sectors. A rise in construction activities in emerging economies and an increase sustainable construction methods are driving a reliance on modern construction techniques, creating growth opportunities for the precast construction market.
The 'eco-friendly' appeal of precast construction components and techniques, and its acceptance have helped it to enter the global market. Many innovations in designs and technological advancements have been witnessed by the industry in the last decade.
The non-residential buildings segment dominated the market in 2015 and is projected to be the fastest-growing end-user sector in the next five years. As a result of the rise in urbanisation and industrialisation, this market is mostly driven by a surge in demand for new construction across the world. An increase in public and private investment in the infrastructure sector in the emerging economies of Asia-Pacific, the Middle East, and Latin America are driving this growth.
The Asia-Pacific has a major market share in the global precast construction market. An increase in industrialisation as well as population growth in countries such as China, Indonesia, and India, which are experiencing high demand for residential and non-residential construction, is driving the market in these countries. Rapid urbanisation in these countries demands faster and more cost-efficient construction of buildings and facilities without compromising on quality. Additionally, increased government investment in infrastructure provides potential for growth in these countries.
The key players in the market include; Acs actividades de construcción y servicios, S.A (Spain), Komatsu Ltd. (Japan), Bouygues Construction (France), Larsen & Toubro Limited (India), Taisei Corporation (Japan), Balfour Beatty plc (U.K.), Kiewit Corporation (U.S.), Laing O’Rourke (U.K.), Julius Berger Nigeria Plc (Nigeria), and Red Sea Housing Services (Saudi Arabia).
Featured articles and news
BSRIA Briefing 2024: Sustainable Futures speakers
Redefining Retrofit for Net Zero Living 22 Nov.
Wall of support for post-Grenfell regulation of electricians
Call for a shake-up of the construction industry highlighted on radio.
Digital sustainability through future AEC tools
Bringing together industry and academia to meet challenges.
Skills gap for net zero highlighted to Minister for Industry
ECA convenes roundtable discussion at Portcullis House.
Evidencing Net Zero with the new UK buildings standard
Pilot version with detailed excel proforma out now!
Scottish Building Safety Levy, in consultation
From direct remediation and the RPDT, to the costs and alternatives.
Waves of warmer homes grants for the rental sector
Boosting energy efficiency standards for all rented homes.
A refocus of the National Planning Policy Framework
Key terms described in brief, as the consultation closes the evening of the 24th.
Fortified farmhouses of the unruly 16th-and 17th-century borders.
ECA shares advice for those who may be exposed to risks.
How to revolutionise UK housing with MMC
CIC and Supply Chain Sustainability School unveil a plan.
From the UKs largest manufacturer and supplier of lime.
From mud bricks to smart concrete
A brief history from 7000BC to a future on the moon.
Regulator of Social Housing publishes latest fire safety report
Covering remediation of 11 metre plus social housing sector buildings.
Apartment and Duplex Defects Remediation Bill 2024
Approved for priority drafting by Government of Ireland.
The long list with in the frame of key historical events.
Competence frameworks for sustainability in the built environment
Code of practice, core criteria consultation draft for comment.
New Floods Resilience Taskforce
With a wet met office autumn prediction.