Italy Precasting Market is forecast to reach a market size of $11.17 billion by 2025, after growing at a CAGR of 2.30% during 2020-2025. Increase in construction spending, growth in urbanization and industrialization in developing countries, growth in need for development of low-cost residential units, higher efficiencies, and productivity attained by precast methods, and increased speed of construction by precast technology drives the market. Further, enhance the overall market demand for Italy Precasting during the forecast period.
The “Italy Precasting Market Report – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Italy Precasting Market.
- Precast for building construction has been developing quickly in the previous five years. Designers sees precast as the future and are prepared to put more in this kind of construction.
- The market is likely to grow in future owing to the presence of numerous players that develop reinforced precast and increase in demand of Precasting across industries in the region.
- Demand for less expensive and superior quality products in remodeling industry.
- Availability of greener alternatives for Precasting
- Precast concrete is driving creativity as architects now have greater leverage to develop intricate designs that can easily be produced off-site
Element Type - Segment Analysis
Advanced Thermosetting Composites segment held the largest share in the Italy Precasting Market in 2018. Precast columns provides flexible solution to the structural component of the project. These products can be used for number of applications ranging from parking structures to the structural framework of commercial buildings. The columns segment is projected to grow during the forecasted period, owing to factors such as easier material handling and minimized need for a framework.
End-Use Industry - Segment Analysis
Residential sector has been the primary market for Italy Precasting by growing at a CAGR of 2.12%. Precast materials are used in residential buildings to provide better construction and high-quality control standards along with the low cost. Applications of precast materials in residential buildings include precast concrete panels/roofs, precast walls, floors & staircases and many more. With growing residential urbanization along with the development and expansion of more modern housing stock, precast construction is anticipated to experience high growth in the near future. Additionally, rising standards of living as well as aging demography has a direct impact on the type of construction done, which demands high quality and precision along with low cost in construction work.
Drivers – Italy Precasting Market
- Advantages of materials
Owing to various advantages of precast construction materials such as construction speed, minimum work on site and higher quality assurance as well as issues such as scarcity of both human and material resources that are threatening traditional construction practices, Precasting is rapidly evolving into an essential component in the residential construction industry.
Challenges – Italy Precasting Market
- Lack of skilled labor and infrastructure
One of the key factors that restrain the market growth for precast construction includes lack of skilled labor and infrastructure. There is a deficiency in road network it is very difficult to transport precast construction components over very long distances. Precast method can create added shipping costs, depending on the shipper, the location of the job, and the location of the precast plant. In most of the customized low volume construction jobs the usage of precast construction method is not feasible.
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Italy Precasting Market. In 2018, the market of Italy Precasting has been consolidated by the top five players accounting for xx% of the share. Major players in the Italy Precasting Market are SICEP SPA, EDIL - UNO S.R.L., SOCIETA' CALCESTRUZZI S.R.L., PLAN SRL, among others.