Ready-mix concrete market to reach USD 1,446,450 million by 2028 growing at a CAGR of 8.7%

BANGALORE, India, April 12, 2022 /PRNewswire/ — ready-mixed concrete market is segmented by Type – Transit Mixed Concrete, Shrink Mixed Concrete, Central Mixed Concrete, Other, Application – Residential Building, Commercial Building, Industrial Building, Infrastructure Sectors, Other. Global Opportunity Analysis and Industry Forecast 2022 – 2028. It is published in Appreciate the reports under the Construction & Maintenance Category.

The global ready-mixed concrete market size is estimated to be worth 878790 million USD in 2022 and should have a readjusted size of 1446450 million USD by 2028 with a CAGR of 8.7% during the reporting period.

The major factors driving the growth of the ready-mixed concrete market are

The major factor expected to drive the ready-mixed concrete market is global infrastructure development combined with rapid urbanization. Additionally, benefits such as reduced labor costs, reduced waste, low inventory costs and on-site supervision, as well as the ease of pouring methods used in ready-to-use construction. employment, are expected to attract more customers in the future.

In addition, increasing public and private investment in infrastructure is expected to provide lucrative ready mix concrete market growth for market players over the forecast period.

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TRENDS INFLUENCING THE GROWTH OF THE READY MIX CONCRETE MARKET

In recent years, the ready-mixed concrete market has grown considerably. This is due to the high performance and increasing availability of advanced building materials around the world. The demand for ready-mixed concrete is increasing as the number of infrastructure projects, such as bridges, roads, dams and airport expansion projects, especially in developing countries . As a result, the global ready-mixed concrete market is expected to grow rapidly in the coming years. The ready-mixed concrete market is also benefiting from increased government spending in construction, manufacturing and power plants, as well as an increase in population and urbanization trends.

Additionally, the benefits of visual monitoring and reduced labor costs, combined with the ease of pouring methods used in ready-mixed construction, are expected to increase the demand for ready-mixed concrete. in the years to come. Moreover, due to its great convenience, improved quality and ease of use, the product is frequently used as a substitute for unconventional concrete. Furthermore, reduction in waste, low inventory costs and efficient utilization are expected to reduce the overall construction project costs, positively influencing the growth of the ready-mixed concrete market over the forecast period.

Rising investment globally in response to urbanization, government infrastructure plans, and a growing population that requires residential and commercial structures is expected to drive the growth of the ready-made market. The global ready-mixed concrete market is expected to be driven by various government initiatives aimed at the development of smart cities. The demand for reduced waste and low inventory costs resulted in reduced overall project costs. The demand for ready-mixed concrete is expected to increase accordingly. Due to its ease of use, high quality, greater convenience and low cost, ready-mixed concrete is widely used today.

One of the major challenges faced by players in the global ready-mixed concrete market is the transport of concrete from the mixer to the various points of use. The ready-mixed concrete market is expected to be constrained by high initial investments in ready-mixed concrete manufacturing plants. New infrastructure construction projects, on the other hand, are expected to drive the demand for ready-mixed concrete in the near future.

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READY-MIX CONCRETE MARKET SHARE ANALYSIS

Based on the type, the transit composite concrete segment is expected to grow significantly in the coming years. Materials are consolidated at a central plant and mixed in the truck during such transit. The main advantage of transit mix is ​​that it keeps the water separated from the cement and allows the concrete to be mixed just before it is placed on the job site.

Based on the application, residential construction is expected to be the most lucrative. The segment is expected to grow faster than expected in the coming years, thanks to the growing demand for single-family homes in the Asia Pacific and Europe.

Based on the region, Asia Pacific should be the most lucrative segment. Government reforms in China and India aimed at improving the road infrastructure in order to stimulate industrial development in the region are expected to have a positive impact on the industry. The demand for ready-mixed concrete is expected to increase due to new construction related to factories and industrial centers in the region, as well as urban development and housing growth.

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Market by region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

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Market by company

  • Cemex
  • Holcim
  • Sika Company
  • Saint Gobain
  • Henkel
  • HeidelbergCement
  • Lafarge
  • CRH automaton
  • BuzziUnicem
  • Italcementi
  • Cimpor
  • Votorantim
  • American concrete

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