Luton, Bedfordshire, UK, Feb. 25, 2023 (GLOBE NEWSWIRE) — Exactitude Consultancy, the market research and advisory arm of Ameliorate Digital Consultancy Private Limited, has completed and released the final copy of the detailed research report on the Precast Concrete Market.

The global precast concrete market will register a CAGR of 5.3% for the forecast period 2022-2029. It is expected to reach over $207.40 billion by 2029, up from $130.30 billion in 2021.

precast concrete Materials are prefabricated and prefabricated at the time of manufacture. Then they are assembled and shaped at the construction site. Such structures increase the speed of construction and increase productivity, in addition, they help to clearly monitor costs and quality. With the growing need for inexpensive and safe material, the demand for precast concrete is increasing.

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Government initiatives such as Atmanirbhar Bharat, Saudi Vision 2029 and Asia-Pacific Vision 2050 are involved in boosting their economies by improving infrastructure, the construction sector and making housing available to all citizens. Significant investments by well-known companies in the development of advanced products should further support the market growth.

mergers and acquisitions

• In January 2021, LafargeHolcim entered into an agreement to acquire Firestone Building Products from Bridgestone Americas for USD 3.4 billion.
• In July 2021, Fortera Inc., a leading manufacturer of pipes and precast components for water and wastewater infrastructure, announced the acquisition of Barbour Concrete Company and Barbour Building Systems to expand its product portfolio.

Product launches and product enhancements

• In December 2020, CEMEX launched Vertua, its low-carbon ready-mix concrete brand, in the US…