06-Feb-2020 | Facts and Factors
Facts and Factors has published a new research report titled “Precast Concrete Market By Application (Buildings, Landscaping, Infrastructure, and Others) and By Product (Concrete Pipes and Box Culverts, Concrete Tanks, Concrete Flood and Sea Defense, Concrete Floor Slabs, Concrete Ceiling Slabs, Concrete Wall Slabs, and Others): Europe Industry Perspective, Comprehensive Analysis, and Forecast, 2019–2026”. According to the report, Europe precast concrete market was valued at around USD 950 Million in 2019 and is expected to reach approximately USD 1,500 million by 2026, growing at a CAGR of around 6.5% between 2020 and 2026.
Precast concrete is a type of construction product that is made by concrete casting in a suitable mold. The mold used in this process can be of either steel or wood. The mold is then cured under a controlled environment and transported to a construction project site. Reinforced precast concrete is also used according to the need for end-user. The prestressed cable is commonly used for reinforcement and is useful in large commercial projects and specialty building structures where full strength concrete is essential. Precast concrete is gaining popularity as versatile and standard construction products among European countries which are estimated to drive future market demand across the region. Moreover, the increasing importance of structural engineering in the modern-day construction industry and a strong focus of construction companies on innovative design and raw materials is estimated to offer significant opportunities for the industry growth. The current market study identifies Germany, Italy, U.K., and France as the major countries in the region contributing to the overall market growth. For instance, the research estimates that Germany's precast concrete market will generate USD 9,400 Million revenue by the end of 2026 and will register the growth at a CAGR of 6%.
Browse the full “Precast Concrete Market By Application (Buildings, Landscaping, Infrastructure, and Others) and By Product (Concrete Pipes and Box Culverts, Concrete Tanks, Concrete Flood, and Sea Defense, Concrete Floor Slabs, Concrete Ceiling Slabs, Concrete Wall Slabs, and Others): Europe Industry Perspective, Comprehensive Analysis, and Forecast, 2019–2026” report at https://www.fnfresearch.com/precast-concrete-market-by-application-buildings-landscaping-infrastructure
Cost and time benefits associated with the use of precast concrete elements are driving the market demand. These elements found the main application in building floors, walls, and frames. Further, the key companies are increasingly designing a diversified product portfolio with a strong emphasis on quality control and international manufacturing standards. Partially precast concrete is also an important industry trend and is popular in floor installation. However, the labor-intensive process and safe transportation to the construction site are predicted as key market challenges. Precast concrete tanks are estimated to register a CAGR of 6.5% during 2020-2026 in terms of volume.
By product types of precast concrete, the market is categorized as concrete pipes and box culverts, concrete tanks, concrete flood and sea defense, concrete floor slabs, concrete ceiling slabs, concrete wall slabs, and other related products. Among all these categories, the concrete tank is identified as a key product type and accounted for a 21% revenue share in 2019. Precast concrete tanks are primarily used as septic tanks and water storage tanks. High strength and durability of these compared to plastic and fiberglass material is the main advantage offered by the precast concrete tanks. Concrete tanks are widely preferred for drinking water storage as it allows water to balance out to a neutral pH. End-users are adopting precast concrete tanks as a high-quality solution with no chemicals is involved in the construction and installation process. Moreover, these tanks can be used for both domestic and commercial applications.
Based on its application precast concrete market is classified as buildings, landscaping, infrastructure, and other related applications. Precast components for buildings are predicted to emerge as the fastest-growing application segment owing to extensive use in residential and nonresidential buildings. Additionally, the demand for precast landscape products such as picnic tables, planters, sidewalk slabs, benches, trash receptacles, sprinkler collars, birdbaths, and plash blocks is growing rapidly in Europe.
By different countries, the market is categorized into Germany, the United Kingdom, France, Spain, Poland, Italy, the Netherland, and the Rest of Europe. Among different countries, the Germany market is identified as a major revenue-generating segment followed by the United Kingdom. The trend towards increasing urbanization in Germany results in a growing need for affordable housing. The concrete sector can help tackle the shortage of housing and the need for rapid construction by providing comfortable, affordable and energy-efficient housing.
Major industry players analyzed and profiled in this research report include Coltman Precast Concrete Limited, Skanska AB, Bouygues Construction, Laing O'Rourke PLC, and Taisei Corporation. These competitors are highly focused on the manufacturing of industry-standard products according to the specifications of end-use sectors.
This report segments the Europe Precast Concrete market as follows:
Europe Precast Concrete Market: Product Type Analysis
Europe Precast Concrete Market: Application Analysis
Europe Precast Concrete Market: Country Analysis
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