Prestressed Concrete Market Size, Industry Development, Challenges, Opportunities, Market Entry Strategies, Key Manufacturers Analysis by 2025

21/apr/2020 11:33:54 Automotive Market Research Reports Contatta l'autore

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Prestressed concrete is a form of concrete which is compressed during fabrication to enhance its strength. They are mostly manufactured from aramid fiber, carbon fiber, and high-tensile steels. As per the study by Market Research Future (MRFR), the global prestressed concrete market is expected to expand in size at 6.32% CAGR from 2016 to 2023 (forecast period).

Market Prospects

The global prestressed concrete market is driven by a rise in construction activities and infrastructural projects. Rampant urbanization coupled with increased renovation/remodeling projects is expected to spur market growth. Furthermore, development of advanced materials is likely to widen the scope of the market in the forthcoming years. Low wire prices and high utilization of the material can work favorably in the market’s favor.

Development of multistoried buildings due to emphasis on vertical construction is expected to drive the market demand. Heavy investments in the real estate sector coupled with encouraging policies for supporting the growth of the construction sector can augur well for the market till 2023.

Segmentation

The prestressed concrete market is segmented by manufacturing process, product, and application.

By manufacturing process, it is segmented pre-tensioning and post-tensioning. The post-tensioning segment is expected to gain a significant market share due to the increase in prefabricated building construction. This is exemplified by the accelerated construction of Mini Sky City, a 57 storey building in China finished in 19 days.

By product, it is segmented into manual and automated.

By application, it is segmented into commercial, industrial, and residential. Residential and commercial segments are predicted to display a modest growth rate due to influx of capital in the region of Asia Pacific.

Regional Analysis

Asia Pacific (APAC) is touted to be the dominating region due to heavy investment of capital in infrastructural projects. The uptick in remodeling projects is likely to induce demand in the prestressed concrete market. Developing economies of India and China are developing information technology parks and specially commissioned zones for attracting foreign investment which can bode well for the market.

North America is expected to showcase a steady growth rate due to expansion plans of hospital chains. This is evident with the staggering 1,340 projects in the healthcare sector in the planning or implementation stage. Investment in the real estate sector is likely to benefit the prestressed concrete market due to efforts to modernized legacy infrastructure. Strict adherence to guidelines outlined by the U.S. Environmental Protection Agency (EPA) for limiting particulate emissions in iron and steel mills can play a vital role in the market.

Europe is predicted to exhibit a modest growth rate due to development of various bridges. In addition, the leaning towards renewable energy sources is likely to push the demand for pre-assembled components. Recently, Structural Research, S. L., has developed cranes made from prestressed concrete which can be used in expediting the pace of high-rise buildings.

Within Rest-of-the-World (RoW), Qatar, United Arab Emirates (UAE), and Saudi Arabia can trigger the demand for prestressed concrete owing to goals set by respective countries for accelerating the construction rate of buildings. Dubai, in particular, is expected to need the product to reach the goal of the Dubai 2020 program.

Competitive Landscape

Key market players include US Concrete Products Corporation, Coastal Precast, Oldcastle Precast, Elematic Precast Technology, Bekaert, Eco Chimneys Private Limited, Insteel Engineers, and Vollert Anlagenbau GmbH.

Industry News

May 2018 – Offsite construction has gained prominence for ample housing solutions. The components can be assembled together at a varied location which can save operational and production costs. Techcrete, an Ireland based company, has relied on prestressed concrete for assembly of structures. It has eased the complexity of the processes and facilitated the development of public buildings, retail outlets, data centers, and pharmaceutical units.

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