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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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.
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.
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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