Ready Mix Concrete Market Overview 2024-2033: Major Players, Leading Regions And Lucrative Segments As Per The Business Research Company’s Ready Mix Concrete Global Market Report 2024
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LONDON, Jan. 04, 2024 (GLOBE NEWSWIRE) — As per The Business Research Company’s ready mix concrete global market report 2024, the ready mix concrete market has witnessed robust growth, with the market size surging from $804.58 billion in 2023 to a projected $874.38 billion in 2024, marking an impressive compound annual growth rate (CAGR) of 8.7%. This ready mix concrete market surge is attributed to factors such as the increasing population, a rise in residential construction, growing demand for high-performance concrete, and the escalating use of recycled materials.
Growth Potential:
Looking ahead, the ready mix concrete market is set for continued strength, with the ready mix concrete market expected to reach $1162.27 billion by 2028, exhibiting a CAGR of 7.4%. The forecasted growth is driven by factors including the rising demand for sustainable and eco-friendly construction materials, a surge in demand for self-consolidating concrete, increasing government investments, growing awareness of the benefits of ready-mix concrete, and a heightened demand for customized concrete solutions.
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Key Drivers:
The growth in both historic and forecast periods can be attributed to various drivers, including the increasing population, a surge in residential construction, growing demand for high-performance concrete, and the adoption of recycled materials in concrete production.
Trends and Innovations:
Major trends in the forecast period include advancements in technology and automation, reflecting the industry’s commitment to innovation and efficiency. These trends contribute to the evolving landscape of the ready mix concrete market.
Segments and Leading Regions:
The ready mix concrete market is segmented based on type (transit mix concrete, central mix concrete, shrink mix concrete), mixer type (volumetric, barrel truck or in-transit mixer), delivery model (on-site, off-site), and application (commercial, residential, infrastructure, industrial utilities). In 2023, Asia-Pacific emerged as the largest region in the ready-mix concrete market, showcasing its dominant position in the industry.
Infrastructure Investments Driving Growth:
The increasing investments in infrastructure are anticipated to propel the growth of the ready-mix concrete market. As governments allocate substantial funds to enhance and build essential physical structures, ready-mix concrete plays a vital role in various infrastructure projects, including roads, bridges, and buildings.
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How Players Can Leverage the Report:
Industry players can make the most of the Ready Mix Concrete Global Market Report by utilizing the detailed insights to align their strategies with market trends and demands. Understanding customer preferences, technological advancements, and regional dynamics will empower businesses to tailor their offerings, enhance competitiveness, and scale their operations effectively in the flourishing ready mix concrete market.
Ready Mix Concrete Global Market Report 2024 by The Business Research Company provides insights on the ready mix concrete market size, ready mix concrete market segments, ready mix concrete market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 7,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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