Market News Today Precast Construction Market | Page 2

industry over the last few years. On the other hand, there are also factors that hamper the growth
of the global Precast Construction Market Size such as the high expenditure on machinery, instability
in transportation, and dearth of awareness about the precast construction technology. The global
Precast Construction Market Size is classified on the basis of product, type, end-use sector, and
geography. On the basis of product, the global Precast Construction Market Size spans Floors & roofs,
Walls, Columns & beams, Staircase, Girders, Lintels, Paving slabs and others. The other products
include door & window components, manholes, and water & sewer system products.
On the basis of type, the global Precast Construction Market Size spans Modular constructions and
Manufactured homes. In case of types of precast construction, the Modular constructions sector
accounts for the major share of the global Precast Construction Market Size and is also anticipated to
be the fastest growing sector during the forecast period. The factors that contribute to the growth of
Modular constructions sector are the curiosity from builders in using single modules in order to build
whole structure in regards to Non-residential and Residential sectors as well as growing investments
for evolving global infrastructure.
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On the basis of end-user sector, the global Precast Construction Market Size spans Non-residential
and Residential. In 2015, the non-residential end-user sector accounted for the major share and is
also expected to be the fastest growing end-user sector in the years to come. The factors that
attribute to the growth of the global Precast Construction Market Size include rise in urbanization,
industrialization, and new constructions all over the world. Additionally, there is an increase in public
as well as private investment in the infrastructure sector in the developing economies such as Asia
Pacific, the Middle East, and Latin America propel the growth of the market.
On the basis of geography, the global Precast Construction Market Size spans North America, Europe,
Asia Pacific, and Rest of the World. Amongst the geographical region Asia Pacific accounts for a large
share in the global Precast Construction Market Size. The factors that attribute to the rise of Asia
Pacific region include upsurge in industrialization and rising population in Asia Pacific countries such
as China, Indonesia, and India, which eventually go through high demand for residential and non-
residential constructions. Moreover, the rise in government funds for infrastructural constructions
offers prospective for growth of the precast construction market in this region.