Ready Mix Concrete Market is estimated to be US$ 904,194 million by 2030 with a CAGR of 5.30% - BY PMI

The report “Ready Mix Concrete Market, By Production, By Application - Trends, Analysis, and Forecast till 2030’’

COVINA, CALIFORNIA, UNITED STATES, March 21, 2023 /EINPresswire.com/ -- According to the latest research study, the demand of Ready Mix Concrete Market accounted for US$ 540,383 million in 2020 and is estimated to be US$ 904,194 million by 2030 and is anticipated to register a CAGR of 5.30%.

The ready-mix concrete market refers to the industry that produces and delivers concrete in a pre-mixed and ready-to-use form to construction sites. This type of concrete is made in batching plants and is transported to the site using specialized vehicles. The market is driven by the growing demand for construction projects worldwide, particularly in developing countries. Ready-mix concrete is used in a wide range of applications, including residential, commercial, and infrastructure projects.

The industry is also evolving with the adoption of new technologies and sustainable practices to reduce the environmental impact of concrete production and transportation. Overall, the ready-mix concrete market is expected to continue to grow in the coming years, driven by urbanization, population growth, and infrastructure development.

Report Metrics:

Report Attribute - Details
Market Size - US$ 904,194 million
CAGR – 5.30%
Base Year - 2020
Forecast Period – 2020 - 2030

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Key Highlights:

• Green concrete for sustainable, high-performing, and circular construction was introduced by ACC Limited in February 2021 under the brand name ECOPact. The goal of this product innovation is to meet India's growing need for green construction.

Analyst View:

The construction industry's demand for ready mix concrete has increased as the desire for versatile building materials has increased, as has the concern for sturdy construction. Furthermore, fast urbanisation and population growth are likely to have a significant impact on the increased demand for jobs, housing, electricity, clean water, food, transit infrastructure, and social services. As a result, construction companies are opting for cost-effective, environmentally friendly homes and structures in order to maintain the highest standards and uniform quality, which can be achieved by employing ready mix concrete. However, the market expansion of ready-mix concrete is likely to be hampered by the loss of workability of ready-mix concrete due to its short lifespan.

Key Market Insights from the report:

Ready Mix Concrete Market accounted for US$ 540,383 million in 2020 and is estimated to be US$ 904,194 million by 2030 and is anticipated to register a CAGR of 5.30%. The global ready mix concrete market report segments the market on the basis of production, application, and region.
• Based on Production, Global Ready Mix Concrete Market is segmented into Onsite and Offsite.
• Based on Application, Global Ready Mix Concrete Market is segmented into Commercial, Residential, Infrastructure, and Industrial Utilities.
• By Region, the Global Ready Mix Concrete Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

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Competitive Analysis:
Key players in the global ready mix concrete market includes, ACC Limited, Vicat SA, Lafarge S.A., Buzzi Unicem S.p.A., Barney & Dickenson, Inc., W. Sidley, Inc., CEMEX S.A.B. de C.V., Italcementi S.p.A., UltraTech Cement Limited, Holcim Ltd., and HeidelbergCement AG.

Drivers and Restrains of Ready Mix Concrete Market:
For companies and organisations looking to comprehend their clients, rivals, and the larger market, market research is a crucial instrument. Nonetheless, the market research sector is vulnerable to a variety of factors and restraints that can have an impact on its growth and development, just like any other business.

Drivers:

• Growing demand for construction projects: The increasing demand for construction projects, particularly in developing countries, is a significant driver of the ready-mix concrete market. As a result, the market is expected to grow in the coming years.
• Advantages of ready-mix concrete: Ready-mix concrete offers several advantages, such as consistent quality, reduced labor costs, and faster construction time. These benefits have led to increased adoption of ready-mix concrete by construction companies.
• Technological advancements: The adoption of new technologies, such as automated batching plants, has improved the efficiency and productivity of ready-mix concrete production and delivery.

Restrains:

• High initial investment: Setting up a ready-mix concrete plant requires significant initial investment, which may deter new entrants from entering the market.
• Transportation costs: The transportation of ready-mix concrete from the batching plant to the construction site can be expensive, particularly for long-distance projects.
• Environmental concerns: The production of ready-mix concrete can have a significant environmental impact due to the high carbon footprint of cement production. This has led to increasing pressure on the industry to adopt sustainable practices and reduce emissions.

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