Report : Europe Precast Concrete Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Structure System (Beam and Column System, Floor and Roof System, Bearing Wall System, Façade System, and Others) and End Use (Residential, Commercial, and Others)
At 7.1% CAGR, the Europe Precast Concrete Market is speculated to be worth US$ 44,978.37 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Europe precast concrete market was valued at US$ 29,798.97 million in 2022 and is expected to reach US$ 44,978.37 million by 2028, registering a CAGR of 7.1% from 2022 to 2028. Rise in renovation and remodeling activities across the region and need for cost-effective, safe, and eco-friendly products are the critical factors attributed to the Europe precast concrete market expansion.
Renovation involves reconstructing infrastructural facilities with modern and advanced construction materials with an aim to promote the structural properties of the building along with improving its life span and contributing to minimal environmental impact. Renovation and remodeling activities help to align infrastructural facilities which are compatible to present and future needs. With the rapid urbanization and industrialization, the demand for better residential and commercial facilities have risen. Further, government organizations in emerging markets are aggressively investing and concentrating on building commercial and industrial infrastructures by introducing numerous initiatives and assigning projects, thereby accelerating the precast concrete business growth. Growing renovation and development activities, driven by increasingly growing investments in the modernization of existing infrastructure, will further complement the precast concrete industry. Furthermore, rising remodeling and construction operations in non-residential spaces would also drive the demand for precast concrete during the forecast period in the Europe precast concrete market. In addition, hotel and resort renovations are also on the rise. Further, the growing investments in the industrial construction by industry players are also expected to drive precast concrete adoption and generate business opportunities. The rising renovation and remodeling activities integrated with government support are further fueling the Europe precast concrete market growth.
On the contrary, volatility in raw material prices hurdles the growth of Europe precast concrete market.
Based on structure system, the Europe 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 29.2% market share in 2022, amassing US$ 8,712.17 million. It is projected to garner US$ 13,750.59 million by 2028 to expand at 7.9% CAGR during 2022–2028.
Based on end use, the Europe precast concrete market is segmented into residential, commercial, and others. The commercial segment held 50.7% market share in 2022, amassing US$ 15,107.11 million. It is projected to garner US$ 23,252.75 million by 2028 to expand at 7.5% CAGR during 2022–2028.
Based on country, the Europe precast concrete market is segmented into Germany, France, Italy, UK, Spain, Poland, Netherlands, and the Rest of Europe. Our regional analysis states that Rest of Europe captured 32.4% market share in 2022. It was assessed at US$ 9,650.43 million in 2022 and is likely to hit US$ 14,088.73 million by 2028, exhibiting a CAGR of 6.5% during the forecast period.
Key players dominating the Europe precast concrete market are Betongindustri AB; Boral; CEMEX S.A.B. de C.V.; Centrum Pile Ltd.; Consolis; Elementbau Osthessen GmbH & Co., ELO KG; Forterra; and LafargeHolcim among others.
- In 2022, Forterra, Inc. announced the acquisition of Barbour Concrete Company & Barbour Building Systems. The Barbour Concrete Company & Barbour Building Systems is the manufacturer of precast concrete products used in drainage, stormwater, utility and other infrastructure applications. This acquisition is expected to boost the production capacity of Forterra Inc.
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