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BANGALORE, India , April 12, 2022 /PRNewswire/ -- Ready-Mix Concrete market is segment by Type - Transit Mixed Concrete, Shrink Mixed Concrete, Central Mixed Concrete, Other, Application - Residential Building, Commercial Building, Industrial Building, Infrastructure Sectors, Other. Global Opportunity Analysis and Industry Forecast 2022 - 2028. It is published in Valuates Reports under the Construction & Maintenance Category.
The global Ready-Mix Concrete market size is estimated to be worth USD 878790 million in 2022 and is forecast to be a readjusted size of USD 1446450 million by 2028 with a CAGR of 8.7% during the review period.
Major Factors Driving The Growth Of The Ready-Mix Concrete Market Are
The primary factor expected to drive the Ready-Mix concrete market is global infrastructure development combined with rapid urbanization. Moreover, benefits such as lower labor costs, waste reduction, low inventory costs, and on-site supervision, as well as the ease of pouring methods used in ready-mix construction, are expected to attract more customers in the future.
Furthermore, increased government and private infrastructure investments are expected to provide lucrative ready-mix concrete market growth for market participants over the forecast period.
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TRENDS INFLUENCING THE GROWTH OF READY-MIX CONCRETE MARKET
In recent years, the ready-mix concrete market has grown significantly. This is due to the high performance and growing availability of advanced construction materials around the world. The demand for ready-mix concrete is increasing as the number of infrastructure projects, such as bridges, roads, dams, and airport expansion projects, grows, particularly in developing countries. As a result, the global ready-mix concrete market is expected to grow rapidly in the coming years. The ready-mix concrete market is also benefiting from increased government spending on construction, manufacturing, and power plants, as well as an increase in population and urbanization trends.
Furthermore, the benefits of sight supervision and lower labor costs, combined with the ease of pouring methods used in ready-mix construction, are expected to drive up demand for ready-mix concrete in the coming years. Additionally, because of its high convenience, improved quality, and ease of use, the product is frequently used as a substitute for unconventional concrete. Furthermore, waste reduction, low inventory costs, and efficient utilization are expected to lower overall construction project costs, positively influencing the ready-mix concrete market growth during the forecast period.
Rising investments around the world in response to urbanization, government infrastructure plans, and a growing population that requires residential and commercial structures are expected to boost the ready-mix market growth. The global ready-mix concrete market is expected to be driven by various government initiatives aimed at the development of smart cities. The demand for waste reduction and low inventory costs has resulted in a reduction in overall project costs. The demand for ready-mix concrete is expected to rise as a result of this. Because of its ease of use, high quality, greater convenience, and lower cost, ready-mix concrete is widely used today.
One of the major challenges faced by players in the global ready-mix concrete market is the transportation of concrete from the mixer to various points of use. The ready-mix concrete market is expected to be restrained by high initial investments in ready-mix concrete manufacturing plants. New infrastructure construction projects, on the other hand, are expected to boost demand for ready-mix concrete in the near future.
READY-MIX CONCRETE MARKET SHARE ANALYSIS
Based on type, The transit mixed concrete segment is expected to grow significantly in the coming years. Materials are batched at a central plant and mixed in the truck while in transit of this type. The main benefit of transit mixing is that it keeps the water separate from the cement and allows the concrete to be blended right before it is placed on the job site.
Based on application, Residential construction is expected to be the most lucrative. The segment is expected to grow faster than expected in the coming years, thanks to rising demand for single-family homes in the Asia Pacific and Europe .
Based on region, Asia-pacific is expected to be the most lucrative segment. Government reforms in China and India to improve road infrastructure in order to boost industrial development in the region are expected to have a positive impact on the industry. The demand for ready-mix concrete is expected to rise as a result of new construction related to factories and industrial centers in the region, as well as urban development and housing growth.
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