ID: MRFR/CO/6037-CR | November 2019 | Region: Global | 328 pages
Global Prestressed Concrete Market is expected to reach a market size of USD 28.3 Million by 2026 and expand at 4.30% CAGR during the forecast period.
Prestressed concrete is a form of concrete used in construction. It is durable, reliable, and strong. This type of 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. The global prestressed concrete market is expected to witness substantial growth during the forecast period. The demand for prestressed concrete is expected to be driven by the growth of construction industry and growing urbanization. Governments across all regions are focused on promoting infrastructure development, especially in developing nations, which leads to various reforms and regulations regarding real estate and infrastructure. Prestressed concrete is one of the most durable and reliable kinds of concrete, which is extensively used for the construction of mega buildings and bridges. Moreover, rapid urbanization affects the increased demand for housing, jobs, transportation, and infrastructure. Such factors drive the market for prestressed concrete.
However, the lack of skilled labor because of the migration of skilled workers, an aging workforce, and the lack of training may hamper the growth of the global prestressed concrete market.
Moreover, the scope for growth in emerging economies due to the various number of construction projects set to go underway is expected to be an opportunity for the players in the global prestressed concrete market during the forecast period.
Global Prestressed Concrete Market is segmented based on manufacturing process, concrete wires, product, application, and end-use industry. Based on manufacturing process, the global prestressed concrete market is divided into pre-tensioning and post-tensioning. The post-tensioning segment is dominating the market, as it is extensively used in the construction of structural beams and poles, bridge deck panels, and roof slabs, among others.
Based on concrete wires, the global prestressed concrete market is segmented into 4–7 wires, up to 3 wires, and above 7 wires. The above 7 wires segment is expected to dominate the market as it is preferred by construction companies owing to its higher strength and good chemical stability.
Based on product, the global prestressed concrete market is segmented into uncoated PC strand, galvanized PC strand, and epoxy coated PC strand. The uncoated PC strand segment is dominating the market as it has broad applications in tunnels, construction buildings, and railways.
Based on application, the global prestressed concrete market is segmented into poles and beams, hardstands and pavements, pipes, tanks, and others. The poles and beams segment is dominating the market owing to its wide application in the construction of railways and bridges.
Based on end-use industry, the global prestressed concrete market is segmented into construction & infrastructure, manufacturing industry, railroad industry, oil & gas industry, and others. The construction & infrastructure segment is expected to dominate the market, is widely used in applications such as high-rise buildings, residential slabs, foundations, bridges and dams, silos and nuclear containment structures, poles, walls, and columns.
Region-specific analysis of the prestressed concrete market spans across North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.
Global Prestressed Concrete Market, by Region, 2019
Source: MRFR Analysis
Asia-Pacific is anticipated to lead the prestressed concrete market during the study period, followed by Europe, owing to increased growth in the construction industry and the improvement in the financial conditions in the region.
According to Concrete Asia, the ASEAN countries are expected to increase their budgets for residential, industrial, and infrastructural projects in the next five years. Rapid urbanization and increased investments in real estate, government spending, and consumer spending have set ASEAN economies on the track to double in the next 10–15 years, which will drive the demand for prestressed concrete in the region.
Global Prestressed Concrete Market has been segmented based on manufacturing process, concrete wires, product, application and end-use industry, and region.
Based on manufacturing process, the global market is divided into post-tensioning and pre-tensioning. The post-tensioning segment is expected to dominate the prestressed concrete market due to its wide application in the construction of structural beams and poles, bridge deck panels, and roof slabs, among others.
The Key Players of 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), and The Prestressed Group (Canada).
Key Questions Addressed by the Report
Frequently Asked Questions (FAQ) :
Prestressed Concrete Market valuation would be USD 29922.3 million by 2025.
Prestressed Concrete Market CAGR would be 5.7% during the forecast period.
The APAC region would lead Prestressed Concrete Market.
Lack of skilled hands and regulations can adversely impact Prestressed Concrete Market.
Emerging economies would be an opportunity for companies to explore Prestressed Concrete Market.