Ready-Mixed Concrete Market Driven By Growth In Construction Activities Across The World After COVID-19 | Grand View Research, Inc.
According to a new report released by Grand View Research, the growing demand for rapid construction activities for the residential, commercial, industrial and infrastructure segments is expected to drive the ready-mix concrete (BMR) market.
The Global ready-mixed concrete market the size should reach $ 1,206.1 billion through 2027, growing at a revenue-driven pace TCCA of 7.9%, according to a new report from Grand View Research, Inc. Growth in construction activity in commercial and infrastructure segments around the world is expected to drive demand for ready-mix concrete.
The commercial availability of ready-mixed concrete through national and multinational players, coupled with a growing awareness of the advantages of the product in construction activities, is likely to increase growth in the estimated time. The reduction in site supervision costs and the cost of labor are the factors that explain its popularity in construction activities.
Ready mixed concrete is considered for the rapid construction of residential, commercial, industrial and infrastructure spaces. The minimized wastage of cement and the control of the use of raw materials for ready-mixed concrete is likely to help its demand in the market. In addition, the non-polluting nature of the production process is expected to support the growth of the environment-friendly construction market.
Industry players in the market compete against each other on the basis of the quality of products and services. Many players are focused on providing public services on construction sites. In order to reduce travel times and costly logistics, players are setting up production plants on construction sites.
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Highlights of the Ready-Mixed Concrete Market Report
• In 2019, the demand for ready-mixed concrete was US $ 656.1 billion and is expected to experience significant growth in the coming period due to the rapid expansion of infrastructure in the United States, Mexico , Brazil, China, India, Thailand, Singapore, Indonesia and United Arab Emirates.
• In Asia-Pacific, ready-mixed concrete sales reached $ 452.8 billion thanks to major construction projects in India and China. The development of 100 smart cities in India and the Silk Road project in China are expected to create growth potential for ready-mixed concrete
• In 2019, residential construction demands for ready-mixed concrete accounted for the largest revenue share of 34.3% and is expected to increase at a revenue-based CAGR of 7.5% over the estimated period. Growing emergence of fast builds is likely to support demand for the product in residential construction
• The Middle East and Africa are expected to become a major contributor to the growth of the market due to the major development of construction in the region. Rising construction projects in the UAE, Kuwait, Saudi Arabia and Qatar are expected to support growth.
• The major players in the ready-mixed concrete market include ACC Ltd. ; CEMEX SAB de CV; Lafarge; Barney & Dickenson, Inc .; RW Sidley, Inc .; Italcementi Group; UltraTech cement; and Holcim Ltd. The players are focused on acquiring small players in order to penetrate the construction sector. In July 2016, Nirma Ltd., producer of chemicals and detergents, finalized the acquisition of the cement plant from Lafarge India in order to expand its portfolio of activities in RMC.
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Segmentation of the ready-mixed concrete market
Grand View Research has segmented the global ready mix concrete market on the basis of application and region:
Ready Mixed Concrete Application Outlook (Volume, Million Tons; Revenue, USD Billion, 2016 – 2027)
• Industrial utilities
Regional Ready-Mixed Concrete Outlook (Volume, Million Tons; Revenue, Billion USD, 2016 – 2027)
• North America
• United States
• Great Britain
• Asia Pacific
• Central and South America
List of key players in the predictive analytics market
• ACC Ltd.
• CEMEX SAB de CV
• Barney & Dickenson, Inc.
• RW Sidley, Inc.
• Italcementi Group
• UltraTech cement.
• Holcim Ltd.
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About Grand View Research
Grand View Research is a market research and consulting company based in the United States and India. It is headquartered in San Francisco. We provide business intelligence, syndicated research reports, and custom research reports to large, small, and medium-sized businesses. Our database contains thousands of in-depth statistics and analysis on more than 45 industries. Grand View Research’s extensive database is used by Fortune 500 companies to understand the regional and global business environment.
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