Global Ready-Mix Concrete Market - Segmented by Application, and Geography - Growth, Trends, and Forecast (2018 - 2023)
The ready-mix concrete market is expected to witness a steady growth rate during the forecast period, 2018 - 2023. Asia-Pacific dominated the global ready-mix concrete market in 2017, owing to significant demand from India, China, Singapore, Indonesia, and South Korea.
Increasing Development of Smart Cities Driving the Market
With increasing urbanization, development of newer cities, and renewal of old infrastructures in established cities, the development of smart cities is growing.Various countries in Asia-Pacific region, such as Singapore, South Korea, Hong Kong, India are emerging as the fastest countries where the largest number of smart cities are present. In India, New Delhi, and Mumbai has emerged in the list of top smart cities by 2017 Smart Cities Index. Over 1000 smart cities pilot projects are ready or are under construction globally, with China itself having almost half of the projects. Growing number of such smart cities projects all across the world is expected to drive the ready-mix concrete market through the forecast period.
Non-Residential – The Largest Application Segment
Ready-mix concrete owing to their superior features are widely used in non-residential applications, such as in commercial, infrastructure, and industrial. India has even experienced significant interest from foreign investors in its infrastructural sector. In the United States, non-residential construction segment is showing strong growth with education and public buildings expected to register the fastest growth of 6% in 2018. Commercial segment is expected to grow by 2% with office spaces at 6% during the same year. Overall, non-residential is predicted to grow 4% in 2018. Such positive growth is expected to drive the non-residential segment through the forecast period.
Asia-Pacific – the Largest Regional Market
Asia-Pacific dominated the global market in 2017, and is also expected to register the fastest growth through the forecast period. Development of 100 smart cities in countries, like India and Government projects, such as ‘Housing For All’ by 2022, restructuring of South Korea’s construction industry are some of the few factors driving the ready-mix market growth in Asia-Pacific region.
Major Players: BASF SE, CEMEX Group, ACC Limited, HeidelbergCement Group, Sika Group, Lafarge, UltraTech Cement, among others.
Reason to Purchase this Report
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
To understand the application that is dominating the market
Countries expected to witness the fastest growth during the forecast period
Identifying the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in Excel)
Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook