Report : Europe Precast Concrete Market Forecast to 2030 - 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 5.9% CAGR, Europe Precast Concrete Market is Speculated to be Worth US$ 46,422.54 Million by 2030, says Business Market Insights
According to Business Market Insights' research, the Europe precast concrete market was valued at US$ 29,351.49 million in 2022 and is expected to reach US$ 46,422.54 million by 2030, registering a CAGR of 5.9% from 2022 to 2030. Rise in renovation and remodeling activities and need for cost-effective, safe, and eco-friendly products are among 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. For instance, according to the World Economic Forum, the world's urban population is growing by 200,000 people every day, many of whom need affordable housing as well as social, transportation, and service infrastructure. In the face of such obstacles, the industry is almost morally obligated to transform. Further, the International Energy Agency (IEA) has called for a significant energy-efficient building renovation as part of a US$ 3 trillion revival plan to rebuild the global economy, which will propel the demand for precast concrete in the construction sector. 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. For instance, building renovation is critical to meeting the European Union's energy efficiency targets. Some of the voluntary and regulatory programs or schemes intended to stimulate the energy-efficient renovation of buildings in the EU are energy conservation obligation schemes (EEOS), mandatory building codes, and minimum energy performance standards (MEPS), among others.
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 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 hampers 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 29.4% share of the Europe precast concrete market in 2022, amassing US$ 8,622.66 million. It is projected to garner US$ 14,483.54 million by 2030 to expand at 6.7% CAGR during 2022-2030.
In terms of end use, the Europe precast concrete market is segmented into residential, commercial, and others. The commercial segment held 49.5% share of the Europe precast concrete market in 2022, amassing US$ 14,526.90 million. It is estimated to garner US$ 23,230.52 million by 2030 to expand at 6.0% CAGR during 2022-2030.
Based on country, the Europe precast concrete market is categorized into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The Rest of Europe held 46.0% share of Europe precast concrete market in 2022, amassing US$ 13,507.16 million. It is projected to garner US$ 20,534.34 million by 2030 to expand at 5.4% CAGR during 2022-2030.
Key players operating in the Europe precast concrete market are CRH Plc; Heidelberg Materials AG; Cemex SAB de CV manufacturer; Holcim Ltd; Consolis Group SAS; Elementbau Osthessen GmbH & Co., ELO KG; Forterra Plc; Centrum Pile Ltd.; Balfour Beatty Plc; and Laing O'Rourke Plc, among others.
Contact Us
Contact Person: Sameer Joshi
Phone: +1-646-491-9876
Email Id: sales@businessmarketinsights.com