The global ready-mix concrete market size is projected to account for USD 1,206.1 billion in 2027. The market is anticipated to register 7.9% CAGR by revenue from 2020 to 2027, as per a new report by Million Insights. Rapidly increasing construction activities in both residential and commercial sectors is attributing to the high growth of ready-mix concrete.
Owing to the availability of several players, ready-mix concrete is readily available. These concrete provide an ideal alternative to conventional concrete along with benefits such as time-saving, easy to use and pollution-free production methods. Further, increasing acceptance in commercial building construction is projected to bode well for the growth of the product.
Key players operating in the market are focusing on offering superior quality and enhanced services. To reduce the transportation cost and time, players are focusing on the installation of ready-mix concrete production facilities near construction site.
Asia Pacific was leading region in the ready-mix concrete market in 2019, owing to the rising construction activities in countries such as China and India. Further, several initiatives undertaken by governments such as smart city development is likely to spur the regional growth.
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Further key findings from the report suggest:
• The market was valued USD 656.1 billion in 2019, driven due to rising construction activities from countries such as China, India, U.S, Brazil and UAE among others.
• In 2019, Asia Pacific alone accounted for USD 452.8 billion due to increasing construction activities in countries such as India and China.
• MEA region is likely to register considerable growth over the forecast duration owing to the increasing growth in the construction activities in countries such as UAE, Saudi Arabia, Qatar and Kuwait.
• Key players operating in the market are R.W. Sidley, Inc., Lafarge, ACC Ltd, Italcementi Group, Holcim Ltd and UltraTech Cement among others.
Million Insights segmented the global ready-mix concrete market on the basis of application and region:
Ready-Mix Concrete Application Outlook (Volume, Million Tons; Revenue, USD Billion, 2016 - 2027)
• Industrial utilities
Ready-Mix Concrete Regional Outlook (Volume, Million Tons; Revenue, USD Billion, 2016 - 2027)
• North America
• Asia Pacific
• Central and South America