Prestressed Concrete Market Analysis
Prestressed concrete is a technique or type of concrete used to overcome the deficiency of simple concrete. It is widely used in railway sleepers, bridges, water tanks, multi-storied buildings, piles, floor beams, runway, roofs, subways, metro piers, and at most civic infrastructures. It is majorly used to reduce cracking and deflection, and also to increase its service load factor. Its tendons and components are a sub part of the construction or building material industry, hence, its usage is expected to increase in the construction industry. The increase in demand is expected to encourage suppliers and manufacturers to focus on the quality of their product. Construction companies significantly benefit from the subsidies given by various governments that enable them to bring together an economical product. The metro train and railroad industry is expected to dominate the global prestressed concrete market during the forecast period due to rapid growth of the transportation industry. Moreover, the rise in urbanization and globalization is expected to accelerate the growth of the market during the forecast period.
COVID-19 Scenario Analysis:
The outbreak of the COVID-19 pandemic has impacted the global prestressed concrete market to a great extent.
- By 2020, the market experienced slower growth due to COVID-19 and experienced disruption due to reduced production of raw materials, disruption of commodity sales, disrupted trade movements, reduced construction demand, and reduced demand for new projects. However, the demand for planned buildings has increased due to increase in the number of cases of COVID-19 and the need for health care and the quarantine units.
- The construction industry has experienced a significant decrease in growth due to global economic slowdown caused by the pandemic. This has reduced the demand for prestressed concrete.
- In addition, cement industries, which play a major role for the production of concrete, were also shut down attributed to the norms set by the government to curb the spread of the coronavirus. This in turn restricted the market growth.
- Construction work always depends on laborers but during COVID-19, lockdown was imposed, which caused many laborers to stay at home due to temporary closure of the companies, thus impacting the market growth.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
In the last decade, the construction of large number of bridges, highways, and commercial real estate accelerated the growth of the prestressed concrete market.
The National Precast Concrete Association (NPCA) has set the benchmark report on all concrete, according to the IS code 456; so that this IS code quality concrete gets used by industries. According to NPCA, the construction industry is experiencing significant growth, which in turn is expected to drive the growth of the market during the forecast period. The building material component of the building emerged as the largest product in the U.S. market by 2020. Emphasizing growth in reducing the overall construction costs and improving efficiency, residential and non-residential builders tend to use a variety of offsite construction technologies, such as precast, pre-made, and modular.
Logistics and supply chain play an important role in closing the gap between module production and installation. Modules are built within the factory environment and are transported to construction sites for installation. Industrial players are focused on increasing the purchase of precast concrete to overcome project delays caused by asset performance.
In terms of market share, the Asia-Pacific region dominates the construction industry and holds a significant share of the global prestressed concrete market due to heavy demand for prestressed concrete for construction related activities in the region.
Key Benefits of the Report:
- This study presents the analytical depiction of the prestressed concrete industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global prestressed concrete market share.
- The current market is quantitatively analyzed to highlight the global prestressed concrete market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global prestressed concrete market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions Answered in the Prestressed Concrete Market Research Report:
- What are the leading market players active in the prestressed concrete market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
Prestressed Concrete Market Report Highlights
| Aspects | Details |
 By Concrete Manufacturing Process |
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 By Element |
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 By End User |
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 By Region |
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 Key Market Players | Reech Group, VSL International, DYWIDAG Systems International, Elematic, Wbho Construction (Pty) Ltd., Hormipresa SA, Bilfinger Berger AG, Freyssinet, Premco Global, Nilkanth Rasayan |
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