May 27, 2020 8:53 AM ET
iCrowd Newswire – May 27, 2020
The Global Ready-Mix Concrete Market is estimated to grow at a CAGR of 5.5% during the forecast period 2019-2026. The market research study presents that the ready-mix concrete industry accounted for $491.61 billion in the year 2018 and is estimated to reach $766.63 billion by the end of the year 2026.
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The ready-mix concrete industry is driven by various growth factors such as surge in construction activities, increase in urbanization and industrialization in developing countries and surge in demand for ready-mix concreate in sustainable infrastructure. Whereas, loss of workability and volatile economic conditions in Latin America impacts the overall market growth negatively. On contrary, increase in private and government investments in the global infrastructure sector will pave a way for the growth of the global ready-mix concrete industry.
Segmentation Overview of the Global Ready-Mix Concrete Market
The global ready-mix concrete market is segmented on the basis of various market segments that include type and application. These segments are further categorized into various sub-segments to study the market in detail considering various factors and geographical conditions.
The Type Segment of the Global Ready-Mix Concrete Market is Sub-Segmented into:
- Transit Mix Concrete
- Central Mix Concrete
- Shrink Mix Concrete
The Application Segment of the Global Ready-Mix Concrete Market is Sub-Segmented into:
- Commercial and Infrastructure
As per the analyst viewpoint, the central mix concrete type segment of the market is expected to grow at fastest growth rate with a CAGR of 6.3% by the end of the year 2026. Similarly, the commercial & infrastructure application segment hold ~2/3rd of the share in the global marketplace in the year 2018 and is estimated to dominate the segment throughout the forecast period 2019-2026.
Geographical Overview of the Global Ready-Mix Concrete Market
The global ready-mix concrete market is segmented on the basis of various geographical regions, such as:
- North America (Canada, U.S. and Mexico)
- Europe (Germany, France, Italy, Russia and Rest of Europe)
- Asia Pacific (Japan, China, India and Rest of Asia Pacific)
- LAMEA (Latin America, Middle East and Africa)
As per the regional study, the Asia-Pacific ready-mix concrete market hold the dominant market position in the year 2018 in terms of market revenue share. The region accounted to contribute ~2/3rd of the market share in the global marketplace and is estimated to maintain the dominance over the forecast period 2019-2026. Similarly, the LAMEA region is estimated to show the fastest growth at a CAGR of 6.3% during the forecast period 2019-2026.
Market Competition Insights
Heidelberg Cement, Vulcan Materials Company CRH plc, Vicat SA, Ultra Tech Cement Limited, SIKA group, Holcim Ltd., CEMEX S.A.B. de C.V., ACC Limited and Barney & Dickenson, Inc. among others are major market players included in the research study of the global ready-mix concrete market. The market players are adopting various competitive strategies to withhold the large market share in the global ready-mix concrete market. The market players of the ready-mix concrete industry are majorly focusing on acquisition and business expansion to boost their ready-mix concrete market shares. For instance, in May 2019, Angelo, Gordon & Co., L.P. has raised over $2.75 billion for its U.S. real estate fund with a focus to construct student hostels, residential housing, hotel, residential and distressed office located in the U.S. As investments in construction sector is supporting various firms to enter in the global infrastructure market. Similarly, in July 2019, Ambuja Cement acquire capacities in ready mix concrete business to boost their customer base in India.
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Keywords: Ready-Mix Concrete Market, Ready-Mix Concrete Market Size