Aug 10 2015
The report "Precast/Prefabricated Construction Market by Product Type (Floors & Roofs, Walls, Columns & Beams, Others), Construction Type (Modular, Manufactured, Others), End-Use Sector (Residential, Non-Residential, Infrastructure, Others), Region - Trends & Forecast to 2020", published by MarketsandMarkets, The global Precast/Prefabricated Construction Market is projected to reach $208.79 Billion by 2020, at a CAGR of 6.50% between 2015 and 2020.
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The market report defines segments, analyzes, and forecasts the global precast/prefabricated construction market. It also identifies the driving and restraining factors for this market with the analysis of current and future trends, opportunities, and challenges.
The market is segmented on the basis of product type, construction type, end-use sector, and major regions such as North America, Europe, Asia-Pacific, and Rest of the World (ROW), and is forecasted till 2020. Major countries in all the regions have been considered for the study.
The precast/prefabricated construction market is end-user oriented. It has shown significant growth after the economic slowdown between 2007 and 2009. This market is mostly driven by the upward surge in the demand for new constructions all over the world due to rapid urbanization and industrialization. Increased investment in infrastructural developments in emerging markets is another driver for the precast/prefabricated construction market. The eco-friendly characteristic of precast/prefabricated construction components and techniques has helped in its acceptance and penetration in the global market. A lot of innovations in designs & technological advancements have been witnessed by the industry in the last decade.
The global precast/prefabricated construction market is projected to reach $208.79 Billion by 2020, at a CAGR of 6.50% between 2015 and 2020. The huge demand for new construction in emerging economies due to infrastructural development and increasing industrialization is expected to accelerate the growth of the precast/prefabricated construction market. The major restraining factor for this market is the market saturation in developed countries.
The precast/prefabricated construction market is marked with intense competition due to the presence of a large number of players. Contracts, collaborations, partnerships & agreements, and mergers & acquisitions are the major strategies adopted by market players to ensure growth in this market. Leading players in precast/prefabricated construction market include ACS Actividades de Construction y Services (Spain), Komatsu Ltd. (Japan), Bouygues Construction (France), Larsen & Toubro Limited (India), Taisei Corporation (Japan), Balfour Beatty Plc (U.K.), Kiewit Corporation (U.S.), Laing O'Rourke (U.K.), Julius Berger Nigeria Plc (Nigeria), and Red Sea Housing Services (Saudi Arabia).
Source: http://www.marketsandmarkets.com/