USD 181.14 billion
Ready-Mix Concrete Market Size, Share, Growth Analysis, By Type(Transit Mix Concrete, Central Mix Concrete, Shrink Mix Concrete), By Application(Commercial & Infrastructure, Residential, Industrial), By Mixer Type(Volumetric and Barrel truck/In-transit mixer), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15F2084 |
Region:
Global |
Published Date: February, 2024
Pages:
165
|Tables:
88
|Figures:
76
Ready-Mix Concrete Market Insights
Ready-Mix Concrete Market size was valued at USD 181.14 billion in 2019 and is poised to grow from USD 196.39 billion in 2023 to USD 1427.31 billion by 2031, growing at a CAGR of 8.5% in the forecast period (2024-2031).
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.
US Ready-Mix Concrete Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Residential
Fastest Growth
Residential
Growth Rate
8.5% CAGR
Global Ready-Mix Concrete Market, 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
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Ready-Mix Concrete Market Segmental Analysis
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.
Ready-Mix Concrete Market 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.
Global Ready-Mix Concrete Market By Application , 2021(%)
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Ready-Mix Concrete Market Regional Insights
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.
Global Ready-Mix Concrete Market By Geography, 2021 - 2028
- Largest
- Fastest
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Ready-Mix Concrete Market Dynamics
Ready-Mix Concrete Market Driver
- As infrastructure projects like bridges, roads, dams, and airport expansions proliferate, particularly in developing nations, the need for ready-mix concrete is rising. As a result, it is anticipated that over the projected period, the global ready-mix concrete business will expand quickly. Increased government spending on manufacturing, power plants, and construction is also helping the market.
- Rapid population expansion and increasing urbanisation are two reasons that will help the ready-mix concrete market grow at a faster rate. The simple pouring techniques used in ready-mix building will also contribute to an increase in market value. Other market growth variables that are anticipated to support the market's growth include the expansion of the automobile sector and the development of various infrastructure segments globally.
Ready-Mix Concrete Market Restraint
- The entry of new players into the market is constrained by the necessity of initial substantial financial investments in ready-mix concrete businesses. The high price of ready-mix concrete, which hinders the majority of consumers with limited resources and income from installing these systems, has lately been identified as another significant barrier.
- The general public's ignorance of these technologies, which are relatively new and have little public outreach as seen by the low number of sales and installations, is another significant barrier preventing the ready-mix concrete treatment business from expanding. As a result, this element will make it harder for the ready-mix concrete market to grow.
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Ready-Mix Concrete Market Competitive Landscape
- As there are so many domestic and foreign companies operating all over the world, the ready-mix concrete business is very competitive. For a competitive advantage, prominent firms in the RMC industry are concentrating on offering clients improved services. To save transportation costs and operational time, several players are concentrating on setting up the ready-mix concrete plant on the construction site. The major players in the market are Arkema (France), Sika AG (Switzerland), BASF SE (Germany), GCP Applied Technologies Inc., (U.S.), MAPEI S.p.A. (Italy), Kao Corporation (Japan), M&I Materials Limited (U.K), Dupont (U.S.), SOLVAY (Belgium), W. R. Grace & Co.-Conn. (U.S.), Setral Chemie GmbH (Germany), Enaspol a.s (Czech Republic), CAC Admixtures (India), CHRYSO GROUP (France), Ashland Inc (U.S.), Rhein-Chemotechnik GMBH (Germany).
Ready-Mix Concrete Market Top Players Company Profiles
- Enaspol a.s
- LafargeHolcim Ltd.
- CEMEX S.A.B. de C.V.
- HeidelbergCement AG
- Buzzi Unicem SpA
- CRH plc
- China National Building Material Company Limited
- Vicat Group
- Eurocement Group
- UltraTech Cement Ltd.
- Martin Marietta Materials, Inc.
- Siam Cement Group (SCG)
- Taiheiyo Cement Corporation
- Votorantim Cimentos S.A.
- Mitsubishi Materials Corporation
- Adelaide Brighton Ltd.
- Hanson Limited
- China West Construction Group Co. Ltd.
- Taiyuan Lionhead Cement Co., Ltd.
- RMC Group Plc (Ready Mixed Concrete)
Ready-Mix Concrete Market Recent Developments
- In July 2022, General Beton Romania, a maker of ready-mix concrete, has been acquired by Holcim. The acquisition is in keeping with Holcim's goal to promote profitable growth through innovative building solutions, such as energy-efficient roofing systems and green ECOPact concrete.
- In June 2022, Hanson has expanded its presence and capabilities in the crucial West Midlands region with the opening of a new ready-mixed concrete facility in Birmingham. All concrete requirements, including those for high volume, specialty mixes, and low carbon concrete, may be satisfied by the new multi-million dollar plant at Landor Street.
Ready-Mix Concrete Key Market Trends
- The market for ready-mixed concrete has expanded dramatically in recent years. This is a result of the great performance and expanding accessibility of innovative building materials worldwide. As infrastructure projects like bridges, highways, dams, and airport expansions proliferate, particularly in emerging nations, so does the demand for ready-mixed concrete. As a result, it is anticipated that the market for ready-mix concrete would expand quickly during the next few years.
- The market for ready-mix concrete is also gaining from rising government investment on manufacturing, power plants, and construction, as well as trends toward urbanisation and population growth.
- Additionally, the expansion of investments by the government in the construction sector creates profitable prospects for industry players throughout the forecast period of 2022 to 2028.
Ready-Mix Concrete Market SkyQuest Analysis
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.
| Report Metric | Details |
|---|---|
| Market size value in 2019 | USD 181.14 billion |
| Market size value in 2031 | USD 1427.31 billion |
| Growth Rate | 8.5% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| 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) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Ready-Mix Concrete Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Ready-Mix Concrete Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the 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 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.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the 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 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.
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