Precast Concrete Market: Introduction
Precast concrete is produced by casting the concrete in a mold or form. The process is carried out in a controlled environment. These precast concretes are then transported to the site of construction for the final application. For different architectural applications, a variety of forming systems are used to derive precast concrete of different design and characteristics. Precast concrete is a relatively new introduction in the construction market. It eliminates or reduces the requirement of usual construction framework on site. The precast concrete market is expected to witness a steady growth in the future on the back of buoyancy in the building and construction industry across world regions.
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Optimistic Outlook of Construction Industry to Fuel Precast Concrete Market Growth
The economic scenario has improved followed by increased disposable income and significant investments in residential property purchase. Governments in emerging countries are supporting infrastructure development. In addition, a notable number of in pipeline megaprojects are likely to invest heavily in modern construction practices.
Modern construction techniques that deliver improved performance with an economical capital investment are being highly embraced by construction professionals. Led by these factors, buoyancy in the building and construction industry is likely to propel the demand for precast concrete in the future.
Precast Concrete Market: Segmentation
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Precast Concrete Manufacturers Leverage Acquisition and Regional Expansion for Market Sustenance
The precast concrete market is set to witness a steady growth trajectory in the coming future. Well aware of the future opportunities, manufacturers in the precast concrete market are leveraging acquisition and regional expansion strategies to increase their market revenues.
- In August 2018, Consolis Group, Europe’s leading supplier of precast concrete acquired TMB Group, a provider of concrete elements. The acquisition is aimed at expanding Consolis’ presence in the European markets.
- In July 2018, LafargeHolcim, a leader in the precast concrete market acquired Tarrant Concrete with an aim to expand its footprint in the U.S. market.
- In June 2018, FLI Group, an Irish firm acquired Carlow Precast, a precast concrete specialist. The new FLI Carlow.
Precast Concrete Market: Key Players
Few of the prominent players in the precast concrete market include L&T Construction, China National Building Material Company Limited, CRH Plc., Cemex S.A.B. De C.V., Elematic Oyj, Coltman Precast Concrete Limited, Weckenmann Anlagentechnik GmbH & Co. KG., Taisei Corporation and Bison Manufacturing Limited.
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