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Precast Construction Market to Reach $185.23 Bn, Globally, by 2022 at 6.3% CAGR, Says Allied Market Research

Increase in urbanization and industrialization in the developing countries, rise in need for development of low-cost residential units, and high efficiency of precast construction are expected to propel the global precast construction market

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Allied Market Research

13 Feb, 2019, 11:15 GMT

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PORTLAND, Oregon, Feb. 13, 2019 /PRNewswire/ --Allied Market Research recently published a report, titled, "Precast Construction Market by Product (Columns & beams, walls, staircases, girders), Construction Type (Modular, Manufactured Homes), End-user sector (Residential and Non-residential) and Geography (North America, Europe, Asia-Pacific, and LAMEA) - Global Opportunity Analysis and Industry Forecast, 2014–2022". According to the report, the global precast construction market accounted for $137.40 billion in 2017 and is projected to reach $185.23 billion by 2022, registering a CAGR of 6.3% during the period 2016–2022.

Rise in urbanization and industrialization in the developing countries, high efficiency of precast construction, and surge in need for the development of low-cost residential units have boosted the growth of the precast construction market. However, lack of confidence in precast construction in the earthquake-prone regions and dearth of skilled labor in the developing countries hamper the market growth. On the contrary, increasing investment in infrastructure is expected to create lucrative opportunities for market players in the near future.

Request Sample Report at: https://www.alliedmarketresearch.com/request-sample/1902

Columns & beams segment holds the largest share

The columns & beams segment held the largest market share in 2017, contributing nearly half of the total market and is expected to continue its dominance throughout the study period. This is attributed to its flexibility in design, shape, and application in construction activities. However, the paving slabs segment is projected to register the fastest CAGR of 7.2% during the forecast period, as it enhances safety during construction and has the potential to produce higher quality pavements. The report includes other segments such as walls, staircases, and girders.

Non-residential: Most lucrative segment in the industry

The non-residential segment is expected to manifest the fastest CAGR of 6.6% during the study period, owing to high demand for low-cost housing due to increasing urban population in both developed and developing countries. Moreover, the segment held the largest share in 2017, contributing nearly three-fourths of the total market. The report also includes an analysis of the residential segment.

For Purchase Enquiry: https://www.alliedmarketresearch.com/purchase-enquiry/1902

Modular construction to manifest fastest growth

The modular construction segment is projected to register the fastest CAGR of 6.8% through 2022, and reaped about four-fifths of the total market, contributing the largest share in 2017. The report analyzes another segment of manufactured homes.

Asia-Pacific region to retain largest market share

Asia-Pacific region accounted for the largest share in 2017, contributing nearly half of the market, owing to increase in demand for residential construction. The report includes analysis of the other regions such as North America, Europe, and LAMEA.

Major market players

The leading market companies are analyzed in the report, including ACS Group, Bouygues Construction, Julius Berger Nigeria Plc, Komatsu Ltd., Laing O'Rourke, Larsen & Toubro Limited, Taisei Corporation, Balfour Beatty plc, Kiewit Corporation, and Red Sea Housing Services.

Access KNOWLEDGE TREE (Premium on-demand, subscription-based pricing model) at: https://www.alliedmarketresearch.com/knowledgetree

Knowledge tree is a cloud-based intelligence platform that offers more than 2,000 selective, off-the-shelf reports on niche markets to enable our clients gain deep insights on the latest trends, dynamic technologies, and emerging application areas.

Similar Reports:

Construction Equipment Market to Reach $288.8 Billion, Globally, by 2022

Earth moving application segment held the largest market share in 2015, on account of relatively higher demand for equipment such as loaders and excavators. Lifting & material handling application segment is anticipated to witness fastest growth, with increasing usage in commercial construction activities.

Global Construction Lasers Market Expected to Reach $3,363.0 Million by 2025

The global construction lasers market is expected to reach $3,363.0 million by 2025, from $2,394.6 million in 2017, growing at a CAGR of 4.4% from 2018 to 2025. In 2017, the Asia-Pacific dominated the global market, in terms of revenue, accounting for more than 36.8% share, followed by Europe.

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
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Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com

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