Precast Concrete Market will Witness A Significant Rise of $37.3 billion by 2026- Exclusive Report by MarketsandMarkets™

According to MarketsandMarkets™ report, the "Precast Concrete Market by Element (Columns & Beams, Floors & Roofs, Girders, Walls & Barriers, Utility Vaults, Pipes, Paving Slabs), Construction Type, End-use Sector (Residential, Non-residential) - Global Forecast to 2025" was USD 130.6 billion in 2020. The market is projected to grow at a CAGR of 5.9% during 2020 to 2025 period. The Precast Concrete Industry is projected to reach USD 174.1 billion by 2025.The market is projected to grow in accordance with the increase in the demand for residential and commercial construction across the globe. Furthermore, the precast concrete market has witnessed a significant increase in demand, owing to the growing interest of consumers in modular buildings, the booming housing construction sector, rise in renovation & remodeling activities, and rapid urbanization & globalization.

The APAC region is projected to lead the precast concrete market in terms of value and volume from 2021 to 2026. Growing population, rapid urbanization, and the construction sector are among the key factors propelling industry expansion in the region. New building constructions with improved energy-efficient solutions for residential and commercial sectors in several APAC countries are fueling the demand for precast concrete in the region.
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