Precast Concrete Market

The global precast concrete market size was valued at USD 144.6 billion in 2022 and is projected to reach USD 198.9 billion by 2027, growing at 6.6% cagr during the forecast period. The construction industry has been shifting toward the precast concrete method due to its ability to reduce cost, time, and labor and enhanced construction quality through process standardization, which ensures high-quality control and better finish. Being constructed under a closed and controlled facility, precast modules are less affected by adverse environmental conditions, such as excessive moisture, heat, and pollution. In addition to this, factors such as improved work-zone safety for workers, easier material handling, and minimized need for scaffolding are encouraging contractors and builders to adopt the precast concrete technique.

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