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Global Modular Precast Construction Products Market Insight2021-12-30 Comments
The modular precast construction product is forecast to continue rising quickly over the next four years. According to the World Knowledge Information (WKI) “Global Modular Precast Construction Products Professional Survey Report 2020, Forecast to 2025”,The increasing emphasis on sustainable building methods and the increasing dependence on modern building technology are the main factors to promote the development of modular precast construction products market.The compound annual growth rate (CAGR) for the 2021-2026 period is projected to be 6.24% base on WKI regression analysis model.
“With the continuous enhancement of people’s awareness of environmental protection, recyclable modular precast construction products have a broad development space.”said Selena, Senior analyst, Chemicals Goods Market Research Center in WKI.”It is suggested that the industry participants of modular precast construction products should actively carry out technological innovation and improve the seismic characteristics of modular precast construction products, so as to occupy more market share.”
The development of global urbanization and industrialization are some key factors to promote the development of modular precast construction products market. The rapid growth and development of urban housing demand has led to the reduction of construction time and cost, and the increased demand of construction companies for cost-effective and proven modular precast construction products. In addition, affordable housing is very important for people’s health and well-being and the smooth operation of the economy. Modular precast construction products provide architects and structural engineers with affordable houses that meet higher requirements for building standards, and will also promote the development of the global market scale of modular precast construction products.
However, due to the lack of confidence of customers in modular precast construction products in earthquake prone areas and the lack of appropriate infrastructure to support the modular precast construction products market in developing areas, the growth of the market scale of modular precast construction products will be restrained.
The Major Players in the Modular Precast Construction Product Market include Acs actividades de construccion y servicios, S.A (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), Red sea housing services (Saudi Arabia) and others.
Segmentation of Modular Precast Construction Products Market:
According to the product type, the market of modular precast construction product is divided into columns and beams, floors and roofs, walls, stairs, girders, paving boards and others. Among them, columns and beams are the main product types, accounting for about one fifth of the market share of modular precast construction products. Because precast columns and beams provide flexible solutions for the structural components of the project, these products can be used in a variety of applications, from parking structures to commercial building structural frames. According to the application, the market of modular precast construction product is divided into residential and non residential. The non residential sector dominates the market. Because non residential construction projects include overpasses, tunnels, railway sleepers, supermarkets, bridges, hospitals, subway projects, stadiums, etc., with its wide range of applications, it can promote the increase in demand for modular precast construction products and promote the expansion of the market scale of modular precast construction products.
Modular Precast Construction Products Market: Regional Analysis
In terms of geography, the global modular precast construction products market has been segmented into: North America, Asia Pacific, Europe, South America, and the Middle East and Africa.The Asia Pacific region currently accounts for a major portion of the global market for modular precast construction products. Due to the increasing population of several developing economies in the region and people’s increasing desire to improve living standards, it is estimated that the Asia Pacific region will continue to maintain its leading position in the forecast period. The increase in investment in housing projects in emerging economies such as China and India will also promote the development of the market scale of modular precast construction products in the region.
Largest share area：Asia Pacific
Largest share country：China