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The global precast concrete market size is expected to gain momentum and touch USD 162.72 billion by 2027 on account of the increasing urbanization and a rise in the number of construction activities worldwide. Precast concretes mean mold in the reusable form which can be used to provide a superior level of resistance to insects and mold, or natural disasters, or in case of fires. Unlike other building material, precast concrete is resistant to termites, requires low maintenance, and meager insurance costs. As per a report by Fortune Business Insights, titled, “Precast Concrete Market Size, Share & Industry Analysis, By Product Type (Building Components, Transportation, Water & Waste Handling, and Others), By End-Use (Residential, and Non-Residential), and Regional Forecast, 2020-2027,” the market value was USD 115.98 billion in 2019. The forecast period is between 2020 and 2027, and the market is likely to exhibit a CAGR of 4.4%.
The Report Answers the Following Queries:
- What is the nature of the market?
- Who are the key players of the market for precast concrete, and what is their strategy?
- How will urbanization contribute to the growth of the market?
- What are the recent industry developments in this market?
Information source
https://www.fortunebusinessinsights.com/precast-concrete-market-103301
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