Ready Mix Concrete Market Revenue to Cross $1118 Billion by 2028 to Rise at a Stellar CAGR of 4.8%
The global ready mix concrete market growth is driven by rise in commercial and residential construction projects, high government spending on infrastructure projects as well as benefits of ready-mix…
The global ready mix concrete market growth is driven by rise in commercial and residential construction projects, high government spending on infrastructure projects as well as benefits of ready-mix concrete such as reduced construction time, low maintenance cost and versatility.
New York, Dec. 19, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on 'Ready Mix Concrete Market Share, Industry Trends and Forecast to 2028- COVID-19 Impact and Global Analysis By End Use (Residential, Commercial, and Others),' the ready mix concrete market size is expected to grow from USD 844 billion in 2022 to USD 1118 billion by 2028; it is estimated to grow at a CAGR of 4.8% from 2022 to 2028.
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Global Ready Mix Concrete Market Report Scope, Segmentations, Regional & Country Scope:
Market Size Value in
USD 844 Billion in 2022
Market Size Value by
USD 1118 Billion by 2028
CAGR of 4.8% from 2022 to 2028
No. of Pages
Historical data available
Type, End User
North America; Europe; Asia Pacific; Latin America; MEA
US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Key Research Capabilities
Global Market Assessment, Business Development Strategies, Competitive Landscape, Opportunity Analysis, Regional and Country Level Market Analysis, Market Entry Strategies, Market Dynamics, Risk and Return Assessments, Pricing Analysis, Market Size and Forecasting, Company Profiling, Value Chain Analysis, Expansion Strategies, SWOT Analysis, New Product Development
Global Ready Mix Concrete Market Forecast to 2028 - Latest COVID-19 Analysis
High Government Spending on Infrastructure Projects to Drive Growth of Global Ready Mix Concrete Market:
Government spending on infrastructure projects has increased exponentially to improve the quality of roads, dams, bridges, tunnels, ports, and aqueducts. Airports and seaports face unprecedented financial challenges while continually working to modernize their infrastructure. These financial challenges are resolved with grants provided by government organizations. For instance, in 2022, the Department for Transport (UK) announced funding of US$ 34.83 million to develop net zero highways. According to the Construction Association statistics (US), the construction industry creates ~US$ 1,400,000 million worth of structures annually. The heavy investments in infrastructure construction and efforts by central governments across different countries is fueling the ready-mix concrete market growth..
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Among the players in the global ready-mix concrete market are ACC Limited, Vicat SA, LafargeHolcim and Buzzi Unicem S.p.A.; BARNEY AND DICKENSON Inc.; R.W. Sidley, Inc., CEMEX S.A.B. DE C.V., HEIDELBERGCEMENT AL; ULTRATECH CEMENT LIMITED.; and CROWN CEMENT L.L.C. The ready-mix concrete market players are focused on providing high quality products that meet customer demand. Many economies around the world were severely affected by the COVID-19 pandemic. Different governments took steps to stop the spread of SARS CoV-2. They announced country-wide lockdowns that directly affected the growth of the industrial sectors. Due to its adverse effects on the growth of the construction and building industry, the pandemic severely hampered the market for ready-mix concrete. However, many industries, including the building and construction industry, have recently relaunched their business operations. After gradually eliminating the supply shortages of raw materials, the building and construction industry is now recovering. This has resulted in an increasing demand for ready-mix concrete from various application sectors.
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Ready Mix Concrete Market: Segmental Overview
Based on end use, the ready mix concrete market is segmented into residential, commercial, and others. The residential segment held the largest market share in 2021. The commercial segment is expected to record the fastest CAGR during the forecast period. The commercial sector includes sports facilities, schools, colleges, government institutions, hospitals, schools, offices, and other commercial spaces. Since ready mix concrete is used in the construction of various commercial facilities worldwide, the rising investment in commercial construction projects is anticipated to drive the growth of the ready mix concrete market.
In 2021, Asia Pacific held the largest share of the global ready mix concrete market. The ready mix concrete market growth in the region is mainly driven by the increasing use of ready-mix concrete in residential and commercial construction activities. The growing population of the region is positively impacting the expansion of the residential and commercial construction sector. Growing transport & construction sector, increased awareness about energy-efficient buildings, and stringent regulations related to energy savings further contribute to the growth of the ready mix concrete market in Asia Pacific.
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In 2022, HEIDELBERGCEMENT AG acquired six ready-mix concrete plants and one sandpit from the KÁMEN Zbraslav, a.s.—a Czech Republic-based cement maker—to expand its business in Europe.
In 2021, Vicat SA acquired a majority of stakes in Beton Direct, a website selling ready-mix concrete products for individual customers and craftsmen to increase its products reach in the French market.
In 2022, LAFARGE invested US$ 119.37 million for the modernization of its France-based Martres-Tolosane cement plant. With the help of such an initiative, the company can maximize the production capacity of its cement and concrete production operations in France.
In 2021, CEMEX S.A.B. de C.V. acquired Beck Readymix Concrete Co. Ltd., a Texas US-based ready-mix concrete supplier to increase concrete products portfolio and expand its business in the US.
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