Market Research Future, in its latest study, summed clearly that the global prestressed concrete market 2020, could witness much bigger stability from the years 2018–2025. In these years, the market’s potentiality might raise high at 5.70% CAGR, with a market valuation of USD 29,922.3 Million. It could be the great achievement of the market to see the future amidst COVID 19 pandemic across the world. 

Top Impacting Factors

Prestressed concrete is used far and wide in multistoried buildings, civic infrastructure and bridges owing to the intrinsic weakness of concrete in tension which can be removed through the product. The use of prestressed concrete enhances its service load factor and reduces deflection cracking. 

The expanding focus on infrastructure development has facilitated the growth of many sub-sectors connected to the construction industry. As prestressed concrete wire and component are an extensive part of the construction material industry, the market consumption rate will thereby witness a considerable boost, particularly for prefab construction. This increase in demand is anticipated to motivate manufacturers to focus more on enlighten the quality of the product that will significantly benefit from the subsidies delivered by the various government bodies. 

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MRFR further codes that in support of the rising demand for railway transportation, it is probable that the railroad industry will lead the global prestressed concrete market in the assessment period. Moreover, the surge in reusable income and fast mounting urbanization will hasten the growth of -the prestressed concrete market during the forecast period.

Furthermore, the diminishing oil prices worldwide due to COVID 19 lockdown has resulted in the decline in prices of petroleum-based product such as polyvinyl chloride material, plastic material, and asphalt material insulation. This factor has subsequently anticipated having driven the growth of the global prestressed concrete market in recent years. Thus, as per MRFR’s study, a hopeful prediction has come forward that the forthcoming years will record a noteworthy boost in the number of construction activities in the world, resulting in the subsequent growth of the global prestress concrete market.

The National Precast Concrete Association (NPCA) has set the benchmark report, and as per it, the construction industry is growing with a high growth rate.

Leading Segments

The Global Prestressed Concrete Market is segmented over the manufacturing process, concrete wires, product, application, and end-use industry. 

In terms of manufacturing process segment, the global market has included pre-tensioning and post-tensioning. The post-tensioning segment is leading the market, as it is extensively used in the construction of bridge deck panels, structural beams and poles, and roof slabs and more.

In terms of concrete wires, the global market has included 4–7 wires, up to 3 wires, and above seven wires. The above seven wires segment might lead the market as construction companies prefer it for its higher strength and excellent chemical stability.

In terms of product segment, the global market has included galvanized PC strand, uncoated PC strand, and epoxy coated PC strand. The uncoated PC strand segment might lead the market as it has broad applications in construction buildings, tunnels, and railways.

In terms of the application segment, the global market has included hardstands and pavements, poles and beams, tanks, pipes, and others. The poles and beams segment leads the market for its wide application in the construction of railways and bridges.

In terms of end-use industry segment, the global market has included manufacturing industry, construction infrastructure, oil gas industry, railroad industry, and others. The construction infrastructure segment might lead the market is widely used in applications such as residential slabs, high-rise buildings, bridges and dams, foundations, poles, walls, and columns.

Regional Framework

Region-specific study of the prestressed concrete market spans across regions of North America, Europe, Asia-Pacific, the Middle East Africa, and South America.

The Middle East and Africa region are leading in the prestressed concrete market in support of enormous investment in infrastructure, bridges and building.

 Western Europe is followed by North America owing to the growing construction industry and enormous investment in R D in the globe. 

Asia-Pacific has a sluggish growth rate in the global prestressed concrete market owing to the slow development of the construction industry.

Top Industry Players

LT Construction (India), HeidelbergCement (Germany), Skanska (Sweden), Coltman Precast Concrete Limited (UK), American Concrete Products (US), Coreslab Structures (US), Molin Concrete Products Company (US), Tindall Corporation (US), and The Prestressed Group (Canada) are the top industrial players in the global prestressed concrete market.

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