the surge in urbanization and industrialization in developing countries and growth in the construction industry drive the global ready-mix Concrete market
PORTLAND, OR, UNITED STATES, September 17, 2020 /EINPresswire.com/ — The Ready-mix concrete market has witnessed significant growth over the past decade, owing to a rise in investment in the construction industry, especially in China. A number of players are expanding their business around the globe, owing to the increased customer base, enhanced effective operations, developed product portfolios, and expanded geographical reach.
Allied Market Research published a report, titled, "Ready-Mix Concrete Market Type (Transit Mix Concrete, Central Mix Concrete, and Shrink Mix Concrete) and Application (Commercial & Infrastructure, Residential, and Industrial): Global Opportunity Analysis and Industry Forecast, 2019–2026." According to the report, the global ready-mix concrete market garnered $491.61 billion in 2018 and is estimated to reach $766.63 billion by 2026, registering a CAGR of 5.5% from 2019 to 2026.
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The manufacturers of ready-mix concrete are focusing on business expansion and acquisition as key strategies to increase their ready-mix concrete market shares. For instance, in July 2019, Ambuja Cement, a subsidiary of LafargeHolcim Ltd, a Swiss multinational company acquire capacities in ready-mix concrete to increase its customer base in India.
The new investments in construction is helping many firms to enter the infrastructure market; thereby, boosting the growth of the market. For instance, in May 2019, Angelo, Gordon & Co., L.P., an investment firm has raised over $2.75 billion for its U.S. real estate fund. The new investment aims to focus on the construction of distressed office, residential, hotel, residential housing, and student hostels, primarily located in the U.S.
Based on type, the transit mix concrete segment accounted for nearly three-fifths of the total share of the global ready-mix concrete market in 2018 and is expected to maintain its lead status in terms of revenue throughout the forecast period. This is due to its contribution to the reduction of dust pollution and easy transportation and placing.
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Based on region, Asia-Pacific accounted for the highest share based on revenue, holding for more than two-thirds of the total share of the global ready-mix concrete market in 2018, and is projected to maintain its dominant position throughout the forecast period. This is attributed to increased infrastructure development projects in this region.
Key Findings of the Study:
• The report provides an extensive analysis of the current and emerging ready-mix concrete market trends and dynamics.
• Depending on the type, the transit mix concrete segment dominated the market, in terms of revenue in 2018 and the shrink mix concrete segment is projected to grow at a CAGR 5.8% during the forecast period.
• By application, the commercial and infrastructure segment led the market in 2018.
• LAMEA is projected to register the highest growth rate in the coming years.
• The key market players within the market are profiled in this report, and their strategies are analyzed thoroughly, which help understand the competitive outlook of the ready-mix concrete industry.
Leading market players
• ACC Limited
• Barney & Dickenson, Inc.
• CEMEX S.A.B. de C.V.
• Heidelberg Cement
• Holcim Ltd.
• SIKA group
• Ultra Tech Cement Limited
• Vicat SA
• CRH plc
• Vulcan Materials Company
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Source: EIN Presswire