Global Ready-Mix Concrete Market is segmented By Type(Transit Mix Concrete, Central Mix Concrete, Shrink Mix Concrete), By Mixer Type(Volumetric, Barrel Truck/In-transit mixer), By Application(Commercial & Infrastructure, Residential, Industrial), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Market Overview
Global ready-mix concrete market reached USD 857.3 billion in 2022 and is expected to reach USD 1377.0 billion by 2031, growing with a CAGR of 8.2% during the forecast period 2024-2031. The ready-mix concrete market has undergone remarkable growth and transformation in recent years, driven by urbanization, infrastructure development, and technological advancements in the construction industry.
The rapid pace of urbanization across the globe has triggered an upsurge in demand for ready-mix concrete. As more people migrate to urban areas in search of better opportunities, the need for modern infrastructure and housing becomes paramount.
The transit mix concrete leads the type segment, accounting for over half of the market share. Similarly, the Asia-Pacific dominates the ready-mix concrete market, capturing the largest market share of over 1/3rd due to the region’s rapid urbanization and industrialization. The Asia-Pacific region's ascension in the global ready-mix concrete market is marked by remarkable growth and innovative product offerings.
Market Scope
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Metrics |
Details |
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CAGR |
8.2% |
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Size Available for Years |
2022-2031 |
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Forecast Period |
2024-2031 |
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Data Availability |
Value (US$) |
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Segments Covered |
Type, Mixer Type, Application and Region |
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Regions Covered |
North America, Europe, Asia-Pacific, South America and Middle East & Africa |
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Fastest Growing Region |
Asia-Pacific |
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Largest Region |
Asia-Pacific |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
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Market Dynamics
Urbanization and Infrastructure Development
One of the primary drivers behind the growth of the ready-mix concrete market is rapid urbanization and infrastructure development. As countries around the world witness increasing urban populations, the demand for residential, commercial, and public infrastructure projects has surged. Government initiatives aimed at modernizing and expanding residential and commercial spaces has led to a significant uptick in the consumption of ready-mix concrete.
Further, upgrading existing infrastructure also plays a crucial role in the market’s growth. According to the United Nations Department of Economic and Social Affairs, the global urban population is expected to reach 68% by 2050. As a result, countries are investing in building roads, bridges, airports, and other crucial infrastructure to accommodate the needs of their growing urban populations.
Growing Technological Advancements
One of the major driver that bolster the ready-mix concrete marke is the growing technological advancements in the sector. The construction industry is undergoing a technological revolution, and the ready-mix concrete sector is no exception. Advanced technologies, such as automation, robotics, and digital tools, are transforming the way concrete is produced, delivered, and utilized on construction sites.
In 2021, LafargeHolcim introduced the CO₂MENT project, which aims to develop the world's first full-cycle solution for capturing and reusing carbon dioxide from the cement manufacturing process. This initiative underscores the industry's commitment to sustainability through innovative technology.
Environmental Concerns and Regulations
One of the primary restraints affecting the ready-mix concrete market is the increasing focus on environmental sustainability. Governments around the world are implementing stringent regulations to control carbon emissions and reduce the environmental impact of construction activities. The concrete industry is a significant contributor to carbon dioxide emissions due to cement production.
According to data from the U.S. Environmental Protection Agency (EPA), the cement and concrete industries combined accounted for approximately 2.5% of total U.S. greenhouse gas emissions in 2020. As a result, ready-mix concrete producers are under pressure to adopt more eco-friendly practices and reduce their carbon footprint.
Segment Analysis
The global ready-mix concrete market is segmented based on type, mixer type, application and region.
Ability to Offer Precise Mixing, Reduced Waste and Timely Delivery of Fresh Concrete to the Project Location
The global ready-mix concrete market has been witnessing remarkable growth in recent years, driven by urbanization, infrastructure development, and increased construction activities across the world. An essential component of this market's growth is transit mix concrete, which has emerged as a critical solution for delivering high-quality concrete to construction sites.
Transit mix concrete, also known as truck-mixed concrete, is a type of ready-mix concrete that is prepared at a central batching plant and transported to construction sites using specialized transit mixers. The respective method offers several advantages, including precise mixing, reduced waste, and timely delivery of fresh concrete to the project location. The utilization of transit mix concrete has gained traction due to its ability to enhance construction efficiency and overall project quality.
Geographical Penetration
Increasing Urbanization, Infrastructural Development and A Surge In Construction Activities
Asia-Pacific has emerged as a powerhouse in the global ready-mix concrete market, experiencing impressive growth over the past few years. Ready-mix concrete, a vital component in construction projects, offers convenience, efficiency, and quality assurance. With increasing urbanization, infrastructural development, and a surge in construction activities, Asia-Pacific has positioned itself as a key player in the global ready-mix concrete market.
According to data, the Asia-Pacific region has witnessed a robust expansion in its construction industry. Countries such as China, India, Japan, and South Korea have spearheaded this growth, contributing significantly to the global ready-mix concrete market. For instance, China, the world's largest construction market, has consistently ramped up its infrastructure spending, thereby driving demand for ready-mix concrete.
Major Key Players
The major global players in the market include UltraTech Cement Limited, CRH plc, HEIDELBERGCEMENT AG, SIKA group, Vicat SA, Holcim Ltd., Vulcan Materials Company, Barney & Dickenson, Inc, ACC Limited and CEMEX S.A.B. de C.V.
COVID-19 Impact Analysis
The COVID-19 pandemic has had a profound impact on various industries around the world, and the global ready-mix concrete market is no exception. The ready-mix concrete industry plays a crucial role in the construction sector, providing a convenient and efficient solution for delivering concrete to construction sites. However, the pandemic disrupted supply chains, and demand for construction materials, leading to significant challenges in the ready-mix concrete market.
However, as vaccination efforts expanded and countries gradually eased restrictions, the construction industry and the ready-mix concrete market began to show signs of recovery. Governments in various regions also implemented stimulus packages and infrastructure investment plans to stimulate economic growth, which in turn boosted demand for construction materials, thus boosting the market.
Key Developments
- In 2021, CarbonBuilt introduced its CarbonCapture Concrete, a breakthrough innovation that reduces the carbon footprint of concrete production. By incorporating captured carbon dioxide during mixing, CarbonCapture Concrete offers a promising solution to mitigate the environmental impact of construction.
- In 2022, HeidelbergCement introduced a novel transit mix concrete formulation with enhanced durability and strength properties. The product launch showcases the continuous efforts of industry leaders to develop high-performance solutions that meet evolving construction requirements.
- In 2023, UltraTech Cement launched a range of transit mix concrete variants designed for specific applications, such as high-rise buildings and infrastructure projects, in a bid to offer customized solutions to customers. The respective launch underscores the adaptability of transit mix concrete to various construction scenarios.
Why Purchase the Report?
- To visualize the global ready-mix concrete market segmentation based on type, mixer type, application and region, as well as understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of ready-mix concrete market-level with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as excel consisting of key products of all the major players.
The global ready-mix concrete market report would provide approximately 61 tables, 56 figures and 183 Pages.
Target Audience 2024
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
