Market Overview

Precast Concrete Infrastructure Construction Product Demand to Increase 4.4% Annually Through 2022

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Precast Concrete Infrastructure Construction Product Demand to Increase 4.4% Annually Through 2022

PR Newswire

CLEVELAND, July 30, 2018 /PRNewswire/ -- Through 2022, demand for precast concrete infrastructure construction products is expected to increase 4.4% annually to $2.4 billion. Growth will be fueled by:

  • the need to repair the nation's aging network of bridges, highways, roads and railroad tracks
  • increased adoption of precast concrete over less expensive site-poured concrete as more government officials recognize that the long-term cost savings provided by its durability outweigh short term considerations
  • efforts by the federal government to increase spending on new infrastructure, particularly if the US Congress passes a significant new funding bill

Freedonia Group logo (PRNewsFoto/The Freedonia Group)

Overall gains will be restricted by transportation infrastructure funding concerns at the state and local levels due to budget constraints. These and other trends are presented in Precast Concrete Products in the US, 4th Edition, a new study from The Freedonia Group, a Cleveland-based industry research firm.

More information about this study is here: https://www.freedoniagroup.com/industry-study/precast-concrete-products-3647.htm

Through 2022, demand for precast concrete bridge components is expected to increase 5.8% annually to $1.1 billion, the fastest pace of any infrastructure component. Demand growth will be driven by:

  • the high number of US bridges currently rated as structurally deficient that will require significant maintenance and repairs
  • increased usage of precast concrete bridge components because the lack of required curing time allows bridge repair and replacement jobs to be completed more quickly, minimizing disruptions for motorists and waterway traffic

However, there will be applications for which site-poured concrete and steel will continue to be specified. Although steel components are susceptible to degradation and site-poured concrete can become damaged and cause structural deficiencies, some cash-strapped governments may opt to use these products because of the short-term cost savings they provide.

Related studies include:
#3602 Siding Market in the US, 17th Edition (January 2018)
#3572 Windows & Doors Market Forecasts (September 2017)

About The Freedonia Group, a division of MarketResearch.com – The Freedonia Group is a leading international industrial research company publishing more than 100 studies annually. Since 1985, we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Additional Construction & Building Products studies can be purchased at https://www.freedoniagroup.com, www.marketresearch.com and www.profound.com.

Press Contact:
Corinne Gangloff
+1 440.684.9600
cgangloff@freedoniagroup.com

 

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SOURCE The Freedonia Group

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