At 5.2% CAGR, South & Central America Precast Concrete Market is Projected to be Worth US$ 5,523.09 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the South & Central America precast concrete market was valued at US$ 3,676.92 million in 2022 and is expected to reach US$ 5,523.09 million by 2030, registering a CAGR of 5.2% from 2022 to 2030. Supportive government initiatives in emerging economies and need for cost-effective, safe, and eco-friendly products and rise in renovation are among the critical factors attributed to the South & Central America precast concrete market expansion.

Precast concrete is widely used in housing, factories, and leading national laboratories around the world to support government programs. In addition, precast construction is a cost-effective, fast, and environment-friendly building method for large housing projects that do not compromise quality. Housing crisis is one of the world's major issues today. Around 330 million urban households worldwide have substandard living conditions. Around 200 million households in developing countries live in slums. At least 1.6 billion people worldwide are expected to be homeless by 2025. Owing to this, the governments of various economies have taken certain initiatives by investing in infrastructure renewal. Many countries are investing in a variety of ventures as a result of ongoing investment and technological advances. The aim of such large-scale projects is to provide lower-income groups with housing options, generate new job opportunities, and diversify the economy. The supporting government initiatives will provide ample opportunities for the market players operating in the South & Central America precast concrete market.

On the contrary, volatility in raw material prices hampers the growth of South & Central America precast concrete market.

Based on structure system, the South & Central America precast concrete market is segmented into beam and column system, floor and roof system, bearing wall system, façade system, and others. The beam and column system segment held 32.4% share of the South & Central America precast concrete market in 2022, amassing US$ 1,192.31 million. It is projected to garner US$ 1,869.34 million by 2030 to expand at 5.8% CAGR during 2022-2030.

In terms of end use, the South & Central America precast concrete market is segmented into residential, commercial, and others. The commercial segment held 62.2% share of the South & Central America precast concrete market in 2022, amassing US$ 2,285.38 million. It is estimated to garner US$ 3,497.54 million by 2030 to expand at 5.5% CAGR during 2022-2030.

Based on country, the South & Central America precast concrete market is categorized into Brazil, Argentina, and the Rest of South & Central America. Brazil held 49.0% share of South & Central America precast concrete market in 2022, amassing US$ 1,800.95 million. It is projected to garner US$ 2,757.61 million by 2030 to expand at 5.5% CAGR during 2022-2030.

Key players operating in the South & Central America precast concrete market are Heidelberg Materials AG, Cemex SAB de CV manufacturer, Holcim Ltd, and Consolis Group SAS, among others.


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