Precast Concrete Market Manufacturers Are Using IoT To Improve Efficiency And Productivity

2022-07-27 17:13:54 By : Mr. Alex Lam

The Business Research Company's precast concrete market research report expands on key drivers, trends, and growth opportunities in the market.

LONDON , July 27, 2022 /PRNewswire/ -- Precast concrete manufacturing plants are increasingly using digital technologies such as the internet of things (IoT) to improve plant efficiency and productivity. IoT helps in remote monitoring and predictive maintenance of a precast concrete plant. IoT technology offers benefits such as increased asset uptime, efficient predictive maintenance, and faster processing and delivery time.

For instance, in 2020, Komatsu, a Japan -based construction equipment manufacturer, launched 4 IoT devices and 8 applications, which help construction managers to monitor and analyze the work. These applications and IoTs have capabilities to provide reports on fuel saving options, check completion of design execution according to the input design diagrams, and alert the user when consumable parts need replacement.

The global precast concrete market size is expected to grow from $95.86 billion in 2021 to $100.99 billion in 2022 at a compound annual growth rate (CAGR) of 5.35%. The precast concrete market share is expected to reach $125.46 billion in 2026 at a CAGR of 5.57%.

Request a free sample of the Precast Concrete Market Report

Industrialization Is A Major Driver For The Precast Concrete Manufacturers Market

Increasing industrialization has contributed to the growth of the precast concrete market. Industry 4.0 is a US-based initiative that aims to transform how businesses produce, enhance, and distribute their goods. Building materials manufacturers are being pushed by Industry 4.0 to expand capacity, use less energy and raw materials, and emit less CO2, while also promoting the creation of ecologically friendly products. For instance, in April 2022 , according to Ministry of Statistics and Program Implementation data, industrial production in India jumped 7.1% year-on-year, advancing from an upwardly revised 2.2% rise in the previous month and beating market expectations of a 5.1% rise.

According To Precast Concrete Industry Statistics, Holcim Group Was The Leading Competitor In 2021

Holcim Group was the largest competitor in the precast concrete market in 2021, with a 0.67% share of the market. Holcim's growth strategy focuses on developing its solutions and products business divisions through strategic acquisitions. For instance, in July 2019 , Holcim entered into an agreement with ORESA for the acquisition of Somaco, a producer of precast concrete in Romania . Somaco offers precast solutions for subways, logistics platforms, tunnels, and bridges and also supplies products for the residential sector. Through this acquisition, the company aims to strengthen its position in the Romanian building materials market. 

Health And Safety Issues Pose A Limitation To The Market's Growth

Health and safety issues have always been a major concern in any construction activity, including the making of precast concrete. Construction workers' duties include handling loads manually, managing dangerous products, being near falling objects, working at heights, in small spaces, underground, and near live electrical wires. The American construction industry comprises just 6% of US workers but witnesses around 20% of the fatalities—thereby accounting for the largest number of fatalities compared to any other industry.

See more on the Precast Concrete Market Report

Check out similar market reports:

IoT In Manufacturing Global Market Report 2022 – By Component (Solution, Platform, Service), By Vertical (Energy And Utilities, Automotive, Food And Beverages, Aerospace And Defense, Chemicals And Materials, High-Tech Products, Healthcare), By Platform (Device Management Platform, Application Management Platform, Connectivity Management Platform), By Application (Process Optimization, Predictive Maintenance, Asset Management, Workforce Management, Emergency And Incident Management, Logistics And Supply Chain Management, Inventory Management) – Market Size, Trends, And Global Forecast 2022-2026

Autoclaved Aerated Concrete Global Market Report 2022 – By Type (Block, Lintel, Panel, Other Types), By Application (Construction Material, Roof Insulation, Roof Sub Bases, Bridge Sub-Structures, Concrete Pipes, Void Filling), By End User (Residential, Non-Residential) – Market Size, Trends, And Global Forecast 2022-2026

Cement And Concrete Products Global Market Report 2022 – By Type (Cement, Ready-Mix Concrete, Concrete Pipe, Brick, And Block, Other Concrete Products), By Product (Rapid Hardening Cement, Low Heat Cement, White Cement, Hydrophobic Cement, Other Products (Colored Cement, Portland Pozzolana Cement)), By Application (Residential, Non-Residential) – Market Size, Trends, And Global Forecast 2022-2026

Interested to know more about The Business Research Company?

The Business Research Company is a market intelligence firm that excels in company, market, and consumer research. Located globally, it has strategy enablement specialists in a wide range of industries including manufacturing, healthcare, financial services, chemicals, and technology.

The World's Most Comprehensive Database

The Business Research Company's flagship product, Global Market Model, is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps.

Contact Information The Business Research Company Europe : +44 207 1930 708 Asia : +91 8897263534 Americas: +1 315 623 0293 Email: LinkedIn: Twitter: YouTube: Blog:


View original content:

SOURCE The Business Research Company

After 2022’s calamitous first half, despite the recent choppiness, July is shaping up to be the best month of the year so far. In fact, according to Lori Calvasina, Head of U.S. Equity Strategy at investment firm RBC, there’s a real possibility it’s generally up from here, or at least, the bottom could be very near. “If the US economy is headed for the economic scenario that’s currently embedded in consensus forecasts, or a relatively short and shallow recession that begins in 2H22 and wraps up

Apple (AAPL) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.

There's no doubt that money can be made by owning shares of unprofitable businesses. For example, biotech and mining...

New York Community Bancorp (NYCB) delivered earnings and revenue surprises of 9.38% and 7.62%, respectively, for the quarter ended June 2022. Do the numbers hold clues to what lies ahead for the stock?

Investors might be surprised by a look back at how equites have performed on the days this year when the Fed has slammed on the monetary-policy brakes.

(Bloomberg) -- Oracle Corp. Chairman Larry Ellison is slated to testify in a lawsuit in which a loss could still result in a windfall for the company he co-founded and holds a 40% stake in.Most Read from BloombergBiden Considers New Pause on Paying Back Student Loans, $10,000 ReliefRockstar Games Cleaned Up Its Frat-Boy Culture — and Grand Theft Auto, TooStar Wars Knights of the Old Republic Game Paused Amid Studio ShakeupBiden Will Speak With Xi on Thursday as US-China Ties WorsenWalmart’s Mega users have recently been watching Cleveland-Cliffs (CLF) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.

Yahoo Finance's Allie Canal joins the Live show to discuss second-quarter earnings for Spotify.

DEEP DIVE In December, we listed analysts’ favorite semiconductor stocks for 2022. That hasn’t turned out well. But after chipmakers’ stocks have been hammered, the group is now trading at “normal-level valuations,” according to Matt Peron, director of research at Janus Henderson Investors.

In this article, we will look at the 7 beaten-down semiconductor stocks that Jim Cramer likes. If you want to explore similar beaten-down semiconductor stocks that are on Jim Cramer’s radar, you can also read Jim Cramer Likes These 3 Beaten-Down Semiconductor Stocks. Analysts and investors are treading carefully as they are exploring growth areas […]

The stocks of QuantumScape (NYSE: QS), Lordstown Motors (NASDAQ: RIDE), and Faraday Future Intelligent Electric (NASDAQ: FFIE) are all dropping today after an SEC filing from Faraday Future. QuantumScape was down 5.9%. Lordstown was down 4.9%.

The NASDAQ Composite Index has fallen into a bear market while the Federal Reserve is caught between a rock and hard place, trying to rein in inflation while avoiding a full-blown recession. The characteristics I look for include a strong, well-recognized brand, a track record of convincing growth, catalysts in place to propel further growth, and a management team with strategic plans to expand the business. One of the most well-known electric car companies in the world, Tesla (NASDAQ: TSLA) also invests in scalable, clean energy generation and storage products.

Nikola (NASDAQ: NKLA) has taken investors on a wild ride over the past two years. The electric truck maker went public by merging with a special purpose acquisition company (SPAC) run by General Motors' (NYSE: GM) former vice-chairman Steve Girsky on June 3, 2020, and the combined company's shares opened at $37.55 the following day. Less than a week later, Nikola's stock surged to an all-time high of $79.73, which valued the company at a whopping $28.8 billion -- even though it hadn't delivered a single truck yet.

Dividend stocks are the Swiss army knives of the stock market. When dividend stocks go up, you make money. When they don’t go up — you still make money (from the dividend). Heck, even when a dividend stock goes down in price, it’s not all bad news, because the dividend yield (the absolute dividend amount, divided by the stock price) gets richer the more the stock falls in price. Knowing all this, wouldn’t you like to own find great dividend stocks? Of course you would! Using the TipRanks platfor

Bionano Genomics, Inc. (BNGO) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Cathie Wood, CEO of Ark Investment Management, reversed her stance on two major technology companies.

Intel hasn't reported bottom-line results below the Zacks Consensus EPS Estimate since 2014.

Bunge (BG) delivered earnings and revenue surprises of -12.65% and 0.03%, respectively, for the quarter ended June 2022. Do the numbers hold clues to what lies ahead for the stock?

Recently, users have been paying close attention to ON Semiconductor Corp. (ON). This makes it worthwhile to examine what the stock has in store.

When it rains it pours, and for Roku (NASDAQ: ROKU) Tuesday was a bit of a deluge. Roku's bad situation was made worse by a report of a potential acquisition that doesn't include Roku but could have market implications. Aaron Kessler at Raymond James initiated coverage of Roku with a neutral market perform rating, raising near-term concerns.