The report "Concrete Prefabricated Market by Element (Columns & Beams, Floors & Roofs, Girders, Walls & Barriers, Utility Vaults, Pipes, Paving Slabs), Construction Type, End-use Sector (Residential, Non-residential), and Region - Global Forecast to 2027" estimates that the market size will increase from $144.6 billion in 2022 to $198.9 billion by 2027, at a CAGR of 6.6% from 2022 to 2027, according to MarketAndMarkets.

The growth of the prefabricated concrete market is attributed to reduced construction time, improved productivity, lower construction costs, and lesser environmental impact. The increasing need for cost-effective, safe, and eco-friendly construction material is expected to drive the demand for prefabricated concrete.

Prominent key players will remain:

- LafargeHolcim Ltd. (Switzerland)

- Balfour Beatty plc (UK)

- Skanska AB (Sweden)

- CRH Plc (UK)

- Cemex S.A.B de C.V. (Mexico)

- Laing O’Rourke (UK)

- Julius Berger Nigeria Plc (Nigeria)

- Boral Limited (Australia)

Growth Opportunities:

- Governmental organizations in emerging countries are actively investing and focusing on the development of commercial and industrial infrastructures through the implementation of multiple programs and project allocations, which drive the expansion of the prefabricated concrete market.

- Increased remodeling and renovation operations in non-residential spaces will accelerate the demand for prefabricated concrete during the forecast period. Renovation activities in hotels and resorts are also on the rise.

- Rising investments by industry players in industrial constructions are expected to further propel the adoption of prefabricated concrete and create market opportunities.

- Elementary construction is estimated to be the largest segment in the prefabricated concrete market during the forecast period.

- Geographical Situation:

- This growth can be attributed to factors such as strong interest from entrepreneurs and builders in using individual prefabricated elements to construct an entire structure in both residential and non-residential construction sectors and an increase in public and private investments in global infrastructure development, especially in emerging economies in the Asia Pacific and South America regions.

- The APAC region is estimated to represent the largest share of the concrete prefabricated market during the forecast period.

- The APAC region is expected to lead the concrete prefabricated market in terms of value and volume from 2022 to 2027. Population growth, rapid urbanization, and the construction sector are among the key factors driving the industry's expansion in the region.

- New building constructions with enhanced energy efficiency solutions for residential and commercial sectors in several APAC countries fuel the demand for prefabricated concrete in the region.