Asia Pacific Precast Concrete Market
Asia Pacific Precast Concrete Market is growing at a CAGR of 8.1% to reach US$ 1,40,920.13 million by 2030 from US$ 75,764.25 million in 2022 by Structure System and End Use.

Published On: May 2024

Available Report Formats

pdf-format excel-format pptx-format
Request Free Sample Buy Now
Asia Pacific Precast Concrete Market

At 8.1% CAGR, Asia Pacific Precast Concrete Market is Projected to be Worth US$ 1,40,920.13 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the Asia Pacific precast concrete market was valued at US$ 75,764.25 million in 2022 and is expected to reach US$ 1,40,920.13 million by 2030, registering a CAGR of 8.1% from 2022 to 2030. Supportive government initiatives in emerging economies and significant investment in innovation and product development are among the critical factors attributed to the Asia Pacific precast concrete market expansion.

Precast concrete is widely used in housing, factories, and leading national laboratories around the world to support government programs. In addition, precast construction is a cost-effective, fast, and environment-friendly building method for large housing projects that do not compromise quality. Housing crisis is one of the world's major issues today. Around 330 million urban households worldwide have substandard living conditions. Around 200 million households in developing countries live in slums. At least 1.6 billion people worldwide are expected to be homeless by 2025. Owing to this, the governments of various economies have taken certain initiatives by investing in infrastructure renewal. For instance, in India, the trend towards Atmanirbhar Bharat is expected to yield best results for the growth of precast industry attributable to growing focus towards development of moldable construction materials and spare parts so as to minimize the dependence upon imports which can directly be use in construction. Further, the state and central government in the country are equally involved in facilitating the use of precast in their construction projects.

Similarly, several concrete additives, lifting accessories, and spare parts are not manufactured in India. If all of these products are produced in India, the investment cost will be significantly reduced, which will further propel the demand for precast concrete in the market. Many countries are investing in a variety of ventures as a result of ongoing investment and technological advances. The aim of such large-scale projects is to provide lower-income groups with housing options, generate new job opportunities, and diversify the economy The supporting government initiatives will provide ample opportunities for the market players operating in the Asia Pacific precast concrete market.

On the contrary, volatility in raw material prices hampers the growth of Asia Pacific precast concrete market.

Based on structure system, the Asia Pacific precast concrete market is segmented into beam and column system, floor and roof system, bearing wall system, façade system, and others. The beam and column system segment held 28.0% share of the Asia Pacific precast concrete market in 2022, amassing US$ 21,198.28 million. It is projected to garner US$ 42,258.83 million by 2030 to expand at 9.0% CAGR during 2022-2030.

In terms of end use, the Asia Pacific precast concrete market is segmented into residential, commercial, and others. The commercial segment held 40.2% share of the Asia Pacific precast concrete market in 2022, amassing US$ 30,456.99 million. It is estimated to garner US$ 56,877.43 million by 2030 to expand at 8.1% CAGR during 2022-2030.

Based on country, the Asia Pacific precast concrete market is categorized into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China held 62.8% share of Asia Pacific precast concrete market in 2022, amassing US$ 47,548.37 million. It is projected to garner US$ 90,611.48 million by 2030 to expand at 8.4% CAGR during 2022-2030.

Key players operating in the Asia Pacific precast concrete market are CRH Plc, Heidelberg Materials AG, Cemex SAB de CV manufacturer, Holcim Ltd, Consolis Group SAS, Balfour Beatty Plc, and Laing O'Rourke Plc, among others.


Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com