South Africa Precast Concrete Market is dominate by Structural Component until 2028
Need for economical, safe, and eco-friendly products and surge in
renovation and remodeling activities are expected to increase the growth of South
Africa precast concrete market during the forecast period of 2024-2028.
According to TechSci Research report, “South
Africa Precast Concrete Market – By Region, Competition Forecast &
Opportunities, 2018-2028, the South Africa Precast Concrete market is
expected to see a considerable growth during the forecast period. Due to rising
investments in infrastructure development, the market is anticipated to be
pushed by the country's booming construction sector. Additionally, the
government of South Africa is projected to take more steps in the future to
build their economy, which would enhance the construction sector and increase
product demand.
Moreover, rapid industrialization and urbanization
across the economy, rising focus on developing high-quality infrastructure
around the country, and emphasis on green building projects are other major
factors driving the industry. Precast concrete is used in the production of
building components, such as wall panels, sound walls, sewer holes, highway
barriers, and building foundations. Compared to other alternatives, precast
concrete structures are more durable, stronger, and can be easily constructed
in less time.
These products can have a significantly high
span-to-depth ratio, which helps the structure in better load bearing, thereby
reducing the need for additional columns. Thus, these products are widely used
in large-scale projects like concert halls and arenas so that the view and
experience of the audience are not blocked by any pillar. Prominent industry
participants are involved in technological innovations to develop new products
to consolidate their industry presence. A rise in consumer demand and a shift
in consumer preference toward high-quality products are also projected to open
up several growth avenues for the new entrants in the industry over the
forecast period.
Browse over XX market data Figures spread through XX Pages and an in-depth TOC on "South Africa Precast Concrete Market”
South Africa precast concrete market is
segmented into application, product type, end-use and region. Based on
application, the market is segmented into structural components, architectural
components, bridge components. Based on product type, the market is segmented
into floors & roofs, columns & beams, stairs & landing, walls.
Based on end-use, the market is segmented into residential, commercial,
infrastructure. Based on region, the market is segmented into Gauteng,
KwaZulu-Natal, Western Cape, Eastern Cape, Mpumalanga, Limpopo, North West,
Free State, Northern Cape.
Based on application, structural components
dominate in the South Africa precast concrete market in 2022 because the
building sector has a significant need for them. The country's expanding
industrialization and the rising number of hotels, shopping centers, and
hospitals would drive the product segment's expansion throughout the projection
period. This market segment is expected to be significantly influenced by the
growing usage of structural construction components in inexpensive housing.
Over the projection period, the demand for the product is anticipated to be
driven by the increasing need for affordable housing as a result of the rapidly
expanding middle-income population.
Based on end-use, residential dominate in the
South Africa precast concrete market in 2022 because precast concrete is
benefiting financially from large infrastructure and real estate development
projects. The focus on residential and infrastructural demands has led to a
sizable influx of both government- and privately led investments in these
fields. The precast concrete buildings are manufactured, cured, and transported
off-site as needed. They do not require on-site storage as a result. In
addition, just a limited number of workers and little cranes are needed for the
installation. As a result, during the course of the projection period, the
advantages of the product in residential applications are expected to drive
segment growth.
Major market players operating in the South
Africa precast concrete market are:
- Lafarge
South Africa Holdings (Pty) Ltd.
- Vanstone
Precast (Pty) Ltd
- Concretex
South Africa
- Sika
South Africa
- Gallo
Precast
- Rocla
(Pty) Ltd
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“Precast concrete is primarily used in the
construction and building industry. It may be used for any kind of construction
including residential, non-residential, industrial, etc. Although precast
concrete has several advantages in its use and applications, its cost still
hampers the demand. The overall cost of having precast concrete, including
machinery and molds needed for its production, is extremely high compared to
traditional concrete. The increase in environment-friendly policies and the
focus on green and energy-efficient buildings in the construction industry is
driving the demand for precast concrete.
The market is expected to be driven by the
developing construction sector across the nation because of rising investments
in infrastructure development. Additionally, it is projected that growing
government efforts for their economy's growth would strengthen the building
industry and raise product demand in the years to come.,” said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based global
management consulting firm.
“South Africa Precast Concrete Market By Application (Structural
Components, Architectural Components, Bridge Components), By Product Type
(Floors & Roofs, Columns & Beams, Stairs & Landing, Walls), By End-Use
(Residential, Commercial, Infrastructure), By Region, Competition Forecast
& Opportunities, 2018-2028”, has evaluated the future growth potential of South Africa precast
concrete market and provides statistics & information on market size, structure,
and future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in South Africa precast
concrete market.
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