Page 48 - CO_July_2022

INDUSTRY FOCUS PRECAST & PRECAST EQUIPMENT
PRECAST & PRECAST EQUIPMENT

The TRANSFORMATION has BEGUN

While the technique Precast concrete is produced by preparing, Growth drivers
used to exist since casting, and curing the concrete using a The structural building components segment
years, the popularity of reusable mold in a controlled environment. led the market and accounted for over 36%
precast construction The casted concrete is then transported of the total revenue in 2020 and will expand at
has come to light since to the construction site, where it is used the fastest CAGR from 2021 to 2028. Growing
the disastrous impact of for structural components like wall panels, emphasis on reducing the overall construction
Covid-19 pandemic on tunnels, floors, beams, columns, pipes, girders time and costs are turning out to be the
primary factor driving the adoption of structural
and staircases. Imarc Group research also
the construction sector. stated that the precast structural elements building components, such as beams, piles,
Precast has the inherent are more economical and practical in and foundation pillars, in the residential & non-
advantage of facilitating nature compared to in-situ concrete. Precast residential construction sector.
the construction companies concrete components can be bolted Affordable housing structures and social
in achieving economies of together by embedding steel connectors infrastructure projects, such as hospitals,
scale, low maintenance, in the concrete at the time of casting. They educational facilities, and community centers,
reducing overall labor offer dimensional accuracy and a choice are expected to be the major beneficiary of
requirements, and ensuring of developing unique and breakthrough precast concrete. These projects often get
the quality of the finished constructions of exceptional quality. As a result, delayed due to the lack of funds and paucity
concrete modules. Not precast concrete is generally used for building of labor. However, the use of precast helps
only this, the biggest affordable projects with identical structures. It reduce the construction costs and significantly
benefit of it all has been also provides the advantage of planning for reduces the need for labor.
future construction projects as the components
The transportation products segment is
in speeding up the overall can be rearranged easily. projected to register a significant CAGR over
process and achieving An important factor mentioned in the Grand the forecast period. High investments in the
significant savings, in terms View research is the emphasis on supply chain. development, renovation, and up-gradation
of the overall time and cost Logistics plays an essential role in bridging of transportation infrastructures, such as roads,
required to complete the the gap between module production and bridges, flyovers, tunnels, metro rails, and high-
project. With many new age installation. The modules are fabricated within speed rail networks, are expected to be the
companies leading the the factory environment and are transported primary factors driving the segment growth.
change, the transformation over to the construction sites for installation. The water & wastewater handling product
has already begun…writes, Industry players are focusing on optimizing the segment is expected to garner a significant
PRERNA SHARMA. precast concrete supply chain to overcome market share over the forecast period. Globally,
the project delays caused due to logistics. there has been a growing focus on maximizing

48 CONSTRUCTION OPPORTUNITIES|JULY 2022