South Korea Precast Concrete Market Size & Outlook
South Korea precast concrete market, 2018-2030 (US$B)
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South Korea precast concrete market highlights
- The South Korea precast concrete market generated a revenue of USD 3.1 billion in 2023 and is expected to reach USD 4.3 billion by 2030.
- The South Korea market is expected to grow at a CAGR of 4.5% from 2024 to 2030.
- In terms of segment, structural building components was the largest revenue generating product in 2023.
- Structural Building Components is the most lucrative product segment registering the fastest growth during the forecast period.
Precast concrete market data book summary
| Market revenue in 2023 | USD 3.1 billion |
| Market revenue in 2030 | USD 4.3 billion |
| Growth rate | 4.5% (CAGR from 2023 to 2030) |
| Largest segment | Structural building components |
| Fastest growing segment | Structural Building Components |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD billion |
| Market segmentation | Structural Building Components, Architectural Building Components, Transportation, Waste & Water Handling Products, Other Products |
| Key market players worldwide | Boral Ltd, Holcim Ltd, Cemex SAB de CV ADR, Larsen & Toubro Ltd DR, Gulf Precast, Olson Precast, Tindall, Laing O'Rourke, Spancrete Corporation, Forterra, Gülermak |
Other key industry trends
- In terms of revenue, South Korea accounted for 3.0% of the global precast concrete market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China precast concrete market is projected to lead the regional market in terms of revenue in 2030.
- Singapore is the fastest growing regional market in Asia Pacific and is projected to reach USD 2.0 billion by 2030.
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Precast Concrete Market Scope
Precast Concrete Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
South Korea precast concrete market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to precast concrete market will help companies and investors design strategic landscapes.
Structural building components was the largest segment with a revenue share of 38.71% in 2023. Horizon Databook has segmented the South Korea precast concrete market based on structural building components, architectural building components, transportation, waste & water handling products, other products covering the revenue growth of each sub-segment from 2018 to 2030.
South Korea is considered as a major hub for the manufacturing of electronic products. The country is one of the leading producers of semiconductors, mobile phones, and other electronic gadgets. Even though the country experienced a temporary setback in the economy in 2017.
Construction industry in South Korea is witnessing a significant growth owing to increasing investments in residential construction. Furthermore, the country’s rising focus on infrastructural development is likely to boost the growth of construction industry, thereby positively impacting the demand for precast concrete over the forecast period.
Building & construction industry in South Korea is dominated by residential and dwelling construction. Residential construction segment accounts for a significant share in the market on account of the increasing demand for studio apartments given the rising number of individuals living alone.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea precast concrete market , including forecasts for subscribers. This country databook contains high-level insights into South Korea precast concrete market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea precast concrete market size, by product, 2018-2030 (US$B)
South Korea Precast Concrete Market Outlook Share, 2023 & 2030 (US$B)
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