PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1334660
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1334660
Global Prestressed Concrete Wire and Strand Market is valued approximately at USD 201.8 Million in 2022 and is anticipated to grow with a growth rate of more than 3.96% over the forecast period 2023-2030. Prestressed Concrete Wire and Strand are high-strength steel cables or wires are used in the construction industry to reinforce and strengthen concrete structures. They are designed to apply controlled tension to the concrete, creating compression that counteracts the tensile stresses experienced during the structure's lifespan. This preloading technique improves the structural capacity, reduces cracking, and enhances durability. They offer advantages such as increased strength, longer spans, reduced material consumption, and improved resistance to cracking, contributing to the overall performance and longevity of concrete constructions. The driving factors boosting the market growth are increasing number of infrastructure development projects, rapid urbanization and population growth and rising awareness about the advantages of Prestressed Concrete.
According to the International Energy agency (IEA), the expected investment to be done worldwide should be average of USD 3.7 trillion annually in infrastructure to support economic growth and meet sustainability goals. With rapid urbanization, the demand for efficient and durable construction materials increases. The growing urban population drives infrastructure development, leading to higher demand for prestressed concrete wire and strand in the construction of bridges, highways, and buildings. Moreover, the technological advancements in manufacturing processes and materials used in Prestressed Concrete Wire and Strand Market will create lucrative opportunities for the market growth. However, the fluctuating cost of raw materials and availability of alternative materials stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Prestressed Concrete Wire and Strand Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 with largest market share owing to the gradual increase in urbanization and industrialization. However, Asia Pacific is expected to be the fastest growing during the forecast period, because the growing economies in the region are spending more money on research and development for defense and aerospace applications. Along with population growth and urbanization, countries such as China, Vietnam, Indonesia and others are anticipated to be crucial for the expansion of the prestressed concrete (PC) wire and strand market.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of tables and figures and dummy in nature, final lists may vary in the final deliverable