Prestressed Concrete Market Subjected to Expand Moderately by 2025
The Global Prestressed Concrete Market is
expected to gain an unprecedented value of USD 29,922.3 Million by 2025,
with 5.70% CAGR during the forecast period (2019–2025).
Market Research Future (MRFR) in their report envelops segmentations and
drivers for a better glimpse of the market in the coming years. Prestressed
concrete is a form of concrete used in construction. It is durable, reliable,
and strong. Prestressed concrete helps construct crack-free structural elements
and tackle shrinkage and temperature effects. It is widely used in applications
such as poles and beams, pipes, tanks, hardstands and pavements, and others.
Prestressed concrete is used in various end-use industries such as construction
and infrastructure, manufacturing, railroad, oil & gas, and others.
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Competitive Analysis
Prominent players profiled in the global
prestressed concrete market are Skanska (Sweden), HeidelbergCement (Germany),
L&T Construction (India), and Taiheiyo Cement Corporation (Japan). Coreslab
Structures (US), Coltman Precast Concrete Limited (UK), Tindall Corporation
(US), Molin Concrete Products Company (US), American Concrete Products (US),
The Prestressed Group (Canada) are some of the other key
players operating in the global prestressed concrete market. Mergers,
acquisitions, and collaborations are some of the strategies that these
companies have adopted to stay ahead of the rest.
For
instance, in June 2019, HeidelbergCement
France acquired Cemex’s center region aggregates and ready-mixed concrete
businesses in France to strengthen its vertically integrated market position in
France. This acquisition includes seven aggregate quarries and 28 ready-mixed
concrete plants.
Similarly, in August
2019, Skanska has merged its Polish and Czech/Slovak
construction operations into one business unit, Skanska Central Europe, to
create a unified approach to cooperation and leverage the scale of the new business
unit.
Segmental Analysis
The
Global Prestressed Concrete Market is segmented based on manufacturing process,
concrete wires, product, application, and end-use industry.
Based
on the manufacturing process, the post-tensioning segment is expected to
dominate the market as it is mostly used in constructing structural beams and
poles, bridge deck panels, and roof slabs, among others.
Based
on concrete wires, the above 7 wires segment is expected to dominate the market
as it is widely used in the construction of bridges, high-rise buildings, and
structural beams, among others.
On
the basis of product, the uncoated PC strand segment is expected to dominate
the market owing to its cost-effectiveness and broad applications in tunnels,
construction buildings, and railways in the product segment.
On
the basis of application, the poles & beams segment is expected to dominate
the market owing to its wide application in the construction of railways and bridges.
Based
on end-use industry, the construction & infrastructure segment is expected
to dominate the market as it is a continually evolving industry due to
technological advancements and a stronger focus on sustainability.
Regional Analysis
Geographic analysis
of the global prestressed concrete market spans across North America, Europe,
Asia-Pacific, the Middle East & Africa, and South America.
In 2018,
Asia-Pacific was the leading market with a market valuation of USD 9,491.9
million. The regional market value is expected to reach USD
14,527.3 Million by 2025, with an impressive 6.37% CAGR during
the forecast period. Asia-Pacific is also the fastest-growing region in the
prestressed concrete market, with China, Japan, India, and Australia being the
major markets. The growth of the infrastructure and construction industries and
the improvement in the financial conditions in this region have led to the
growth of the construction industry and, consequently, the prestressed concrete
market. Moreover, the rapid industrialization and urbanization in emerging
economies, such as China and India, are also boosting the growth of the
prestressed concrete market in the region.
In
2018, Europe held the second-largest
market share in the prestressed concrete market. According to the European
Commission, the construction industry is one of the key industries in the
region’s economy. According to European Builders Confederation, with three
million enterprises and a total direct workforce of 18 million people, the
construction industry in Europe contributes approximately 9% to the total GDP
of the EU. The growing construction industry is anticipated to raise the demand
for prestressed concrete in the region. In 2018, the regional market was valued
at USD 4,338.2 million, which is expected to reach USD 6,026.8
Million by 2025 with a 4.91% CAGR during
the forecast period.
The study was conducted using an objective combination of primary
and secondary information, including inputs from key participants in the
industry. The report contains a comprehensive market and vendor landscape in
addition to a SWOT analysis of the key vendors.
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