Latest News- Ready-Mix Concrete Market: Transit mix concrete is expected to lead the Type segment during 2024-2028

The Ready-Mix Concrete Market is being driven by Growing construction market

The Ready-Mix Concrete Market is expected to grow at a CAGR of 5.17% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 210.44 billion. Economic advancements in India, Vietnam, Malaysia, China, and Qatar have instigated significant urbanization and elevated consumer disposable income. Consequently, purchasing power has surged, leading to increased spending on residential and non-residential infrastructure. According to The World Bank Group, China's per capita income escalated from USD12,617 in 2021 to USD12,720.2 in 2022. Likewise, India's per capita income rose from USD2,238.1 in 2021 to USD2,388.6 in 2022. This enhanced purchasing power will bolster investments in infrastructure projects, favorably influencing the global construction industry and the ready-mix concrete market throughout the forecast period. Keywords: economic developments, disposable income, purchasing power, per capita income, urbanization, construction industry, global ready-mix concrete market. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • Transit mix concrete
  • Central mix
  • shrink mix concrete
• Application
  • Non-residential
  • Residential
• Geography
  • APAC
    • China
    • India
  • Middle East and Africa
  • Europe
    • Germany
  • North America
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Growing construction market
• High preference for ready-mix concrete
• Rising demand for ready-mix concrete for non-residential application

However, the market also witnesses some limitations, which are as follows:

• Presence of stringent regulations related to raw materials of concrete
• High operating cost of ready-mix-concrete
• Availability of green substitutes as alternative to ready-mix-concrete

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Market Scope in Ready-Mix Concrete Market Research Report

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Research Analysis Overview

The Ready-Mix Concrete market encompasses the production and supply of concrete, comprising water, cement, aggregates, and additives, for various construction projects. This includes homes, factories, and commercial structures such as hotels and malls. Durability and strength are key attributes, with supplementary materials enhancing both. Transit mix and central mix methods cater to diverse project requirements. Sustainable initiatives, like eco-friendly housing, airport expansions, and water conservation systems, are driving market growth. Green building initiatives and energy-efficient designs further boost demand. Additionally, the use of shrink mix in transit mixers is essential for large-scale projects like dams and office buildings.

Market Research Overview

The global ready-mix concrete market is a segment of the expansive construction materials market, which falls under the broader materials market umbrella. This market encompasses businesses engaged in the production and provision of various construction materials, such as sand, clay, gypsum, lime, aggregates, cement, concrete, bricks, and other related products. Key growth drivers for the global construction materials market include the burgeoning building and construction industry, which in turn is fueled by the increasing demand for water, additives, aggregates, cement, and concrete in the construction of homes, factories, and other structures. The importance of durability and strength in construction projects further bolsters market growth.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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