A report put out by the market research firm Report Ocean casts a bright light on the already bright future of precast concrete. At Rogue Valley Precast, we’re ready for it — especially since we’ve been helping lay the groundwork for this future ever since we opened the doors to our White City, Oregon, facility.
The worldwide pandemic continues to pose challenges throughout the manufacturing world and in the construction business. With supply chain disruptions and inflationary pressures, it’s understandable to think that the glass is half empty rather than half full.
But we’re here to say that glass is on the verge of overflowing.
Let’s look at the data.
Precast Concrete Future: The Data
In January 2022, MarketWatch reported that the global market size for precast concrete will reach $149.1 billion within the next four years. They also report that the compound annual growth rate (CAGR) will increase by 6.6% during that same timeframe.
The data comes from market-research firm Report Ocean, and it points to an especially positive outlook for precast concrete in the Pacific Northwest. One main factor driving that optimism, MarketWatch reports, is the fact that countries within our region’s trading sphere, including India, China, and Japan, are forecast to become “the leading contributor to the global market revenue during the forecast period.”
Additional drivers behind the increased demand for precast concrete products in those regions: increases in disposable income and population increases leading to urbanization and industrialization. These last two factors are expected to boost growth in the construction of residential buildings.
Rogue Valley Precast
We talk about the future of the precast concrete industry a lot at Rogue Valley Precast. Our manufacturing processes are steeped in the history of the form. We’ve worked hard to implement 21st-century technological adjustments that keep our processes eco-friendly.
Our precast elements help eliminate delays in construction time. Our precast plant delivers precast concrete construction forms to general contractors and job sites ready to be installed. No more standing around waiting for the concrete to cure.
For construction management companies, business owners, construction companies, and the construction industry in general, precast products and services speed up the production process, saving time and cash flow. It also helps reduce costs for construction materials, labor, and more compared with traditional concrete plants and traditional construction processes.
Those are just a few of the reasons why precast concrete’s future is bright. Two other reasons why we think the future of precast concrete is secure: First, demand continues to rise. Second, our forms are reproducible and customizable. This allows for a tremendous amount of variety in the products we make. It also means variety in the kinds of customers for whom we make them.
Get in touch with Rogue Valley Precast before you start your own construction project or even sooner (when you’re drafting your business plan, for example). We can assist you in the timely completion of your project. And you can contribute to the already bright future of precast concrete.