North America Precast Concrete Market is expected to reach US$ 49,049.32 Mn by 2028

Beam and Column System Segment to Dominate North America Precast Concrete Market during 2021–2028.

 According to The Insight Partners market research study on “North America Precast Concrete Market to 2028 – COVID-19 Impact and Analysis and Forecast by: Structure System and End Use,” is expected to reach US$ 49,049.32 million by 2028 from US$ 32,019.67 million in 2021. The market is estimated to grow at a CAGR of 6.3% from 2021 to 2028. The report provides trends prevailing in the North America precast concrete market along with the drivers and restraints pertaining to the market growth. Requirement for cost-effective, safe, and eco-friendly products is the major factor driving the growth of the North America precast concrete market. However, issues associated with the unpredictability in raw material prices hinder the growth of North America precast concrete market.

The North America precast concrete market is segmented into structure system, end use, and country. On the basis of use by structure system, the North America precast concrete market is categorized into beam and column system, floor and roof system, bearing wall system, facade system and others. In 2020, the beam and column system segment is dominating the precast concrete market and is also the fastest growing segment during the forecast period. Based on end use, the North America precast concrete market is categorized into residential, commercial and others. In 2020, the residential segment is dominating the precast concrete market and is also the fastest growing segment during the forecast.

The US has the highest number of confirmed cases of COVID-19 among all key countries in the region. This is likely to impact the overall chemicals & materials industry in the region, including precast concrete. North America is the significant contributor in the construction market. Owing to the rise in COVID-19 cases, various conferences—which are a medium to share information related to the latest technologies, product innovations, and trends in relevant markets; and help the companies to realign their strategies—have been postponed or cancelled. Cancellations of technological events have impacted the growth of the precast concrete market indirectly.

Abetong AB, Boral, CEMEX S.A.B. de C.V., Consolis, ELO Beton, Forterra, LafargeHolcim, Tindall Corporation, and Spancrete are among the leading companies in the North America Precast Concrete market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.

The report segments the North America Precast Concrete market as follows:

 North America Precast Concrete Market – By Structure System

• Beam and Column System
• Floor and Roof System
• Bearing Wall System
• Facade System
• Others

North America Precast Concrete Market – By End Use

• Residential
• Commercial
• Others

North America Precast Concrete Market – By Country

• US
• Canada
• Mexico