USD 451.1 billion
Report ID: SQSG15F2004 | Region: Global | Published Date: December, 2022 | Pages: 165
Global Ready-Mix Concrete Market was valued at USD 451.1 billion
in 2021 and it is expected to reach at USD 571.46 billion by 2028, at a CAGR of 4.6% over the forecast period (2022-2028).
In order to create ready-mixed concrete (RMC), specific amounts of water, additives, aggregates, and cement must be combined. To achieve the desired durability and strength, these various elements are combined in the appropriate proportions in line with established rules. When compared to regular concrete, ready-mix concrete is more popular since it is more convenient, simpler to use, and of higher quality. The main applications for ready-mix concrete include the construction of homes, businesses, factories, and roadways.
Due to rising need for adaptable building materials and growing attention to sturdy construction, ready-mix concrete has seen an increase in demand in the construction sector. Furthermore, it is anticipated that urbanisation and rapid population expansion would have a significant impact on the rise in demand for housing, employment opportunities, energy, food, clean water, transportation infrastructure, and social services. In order to assure the highest standards and consistent quality, construction companies are adopting environmentally friendly, economically viable homes and structures, which can be satisfied by utilising ready-mix concrete.
Global Market Size
USD 451.1 billion
To get more reports on the above market click here to Buy The Report
Global ready-mix concrete market is segmented based on product type, application, mixer type, and region. Based on type it is transit mix concrete, central mix concrete, and shrink mix concrete. Based on application it is segmented into: commercial & infrastructure, residential, industrial. Based on mixer type, the market is segmented into Volumetric and Barrel truck/In-transit mixer. Based on region it is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.
Analysis by Application
The largest application segment in 2021, accounting for more than 37% of global revenue share, was residential building. Due to the rising demand for single-family homes in the Asia Pacific and Europe, the segment is expected to experience faster growth than expected. In the upcoming years, the demand for residential constructions is anticipated to be driven by China's and India's rapidly expanding populations, as well as rising disposable income levels. This will undoubtedly have a favourable impact on the market for ready-mix concrete. As a result of the region's industrial growth and favourable government policies, several manufacturers have opened factories there, which is expected to increase demand for ready-mixed concrete.
The market for ready-mix concrete is projected to benefit from rising spending on commercial construction, including malls, office buildings, hotels, restaurants, institutional buildings, hospitals, medical centres, supermarkets, and department stores. The demand for ready-mix concrete is supported by the need for big and quick-build construction components in commercial construction. Due to the advancement of road building, dams, water conservation systems, and airport expansion, infrastructure construction is anticipated to have the fastest growth, with a revenue-based CAGR of 9.2% over the projected period.
To get detailed analysis on other segments, Request For Sample Report
In terms of market revenue and market share, North America has dominated the market in 2021. The development in new infrastructure projects in the area is responsible for the market growth in this region. The building business in the United States annually produces structures worth around D1.4 trillion, according to statistics from the Construction Association. In keeping with a strong and affluent economy, demand for single-family homes also drives the demand for ready-mix concrete.
Asia-Pacific, on the other hand, is anticipated to have profitable growth from 2022 to 2028. It is projected that government measures to improve the road infrastructure in China and India will blossom the industrial development in the region. The region's industrial and manufacturing expansion, together with urbanisation and housing growth, are all expected to increase demand for ready-mix concrete. Growth in the industry has been greatly influenced by massive infrastructure development in the Middle East and Africa, particularly in Saudi Arabia and the United Arab Emirates. Additionally, it is expected that throughout the projected time, the demand for ready-mix concrete will increase due to the region's growing building of commercial and residential complexes.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Speak to one of our ABIRAW analyst for your custom requirements before the purchase of this report
Top Players Company Profiles
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, by application, the residential segment is estimated to have the largest share of the market with more than 37% of the global revenue share. Region-wise, the North America had dominated the market, followed by Aisa Pacific. Government support for the improvement of road infrastructure in China and India has increased as a result of the boom in infrastructure improvements and activities, which has helped the region's industrial sector expand.
|Market size value in||USD 451.1 billion|
|Market size value in 2028||USD 571.46 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
Free report customization with purchase. Customization includes:-
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Ready-Mix Concrete Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Ready-Mix Concrete Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Ready-Mix Concrete Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Ready-Mix Concrete Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "
- Mr. Ali Zali, Commercial Director, ICIIC Iran.