CLEVELAND , May 11, 2022 /PRNewswire/ -- Commercial buildings are the most important outlet for precast concrete products, as both the leading market and one of the fastest growing through 2026. According to a new Freedonia Group analysis, strong opportunities for demand in this market stem from:
Precast concrete products are increasingly specified during the construction of a variety of commercial structures (including high-rise offices, hotels, and industrial buildings) because of their durability and uniformity, which is particularly important for large commercial buildings that require significant volumes of materials because it can speed construction. As skilled labor becomes more expensive and difficult to come by, efficiencies offered by precast products are growing in importance.
Structural Components to Be the Fastest Growing Product Type in the Commercial Building Market
Rising use of precast concrete products on such structures as childcare facilities, VA hospitals, and other healthcare facilities will support demand gains for precast concrete products in the commercial market, finds the analysis. Structural building components represent the largest category in demand terms, and will grow the fastest due to strong demand gains for:
Architectural building components products are also used extensively in the commercial market for precast concrete products.
Precast Concrete Products provides historical data for 2011, 2016, and 2021 and forecasts to 2026 for precast concrete product demand in millions of dollars by product, market, and region and subregion.
About the Freedonia Group - The Freedonia Group, a division of MarketResearch.com, is the premier international industrial research company, providing our clients with product analyses, market forecasts, industry trends, and market share information. From one-person consulting firms to global conglomerates, our analysts provide companies with unbiased, reliable industry market research and analysis to help them make important business decisions. With over 100 studies published annually, we support over 90% of the industrial Fortune 500 companies. Find off-the-shelf studies at https://www.freedoniagroup.com/ or contact us for custom research: +1 440.842.2400.
Press Contact: Corinne Gangloff +1 440.842.2400 cgangloff@freedoniagroup.com
View original content to download multimedia:
The above press release was provided courtesy of PRNewswire. The views, opinions and statements in the press release are not endorsed by Gray Media Group nor do they necessarily state or reflect those of Gray Media Group, Inc.