Ready-Mix Concrete Market: Overview
The growing number of infrastructure projects, including bridges, roads, dams, and airport expansion works, especially in developing nations is fueling the demand for ready-mix concrete. The global ready-mix concrete market is thus expected to witness high growth in the coming years. Some of the other reasons behind the growth of the market are high government spending on construction, manufacturing, and power plants, the growing population, and the trend of urbanization.
The report gives insight into the market size, company market shares, competitive landscape, growth trends, and future opportunities. The report studies the feasibility of new investment projects and also the various marketing channels. Figures and tables are used to provide key statistics on the state of the industry. The report also segments the global ready-mix concrete market on the basis of key criteria such as application and geography.
On the basis of application, the global ready-mix concrete market can be segmented into commercial building, industrial utilities, residential buildings, and infrastructure. The construction of highways, renovation of airports, and construction of dams will lead to the rapid growth of the infrastructure segment. The rise in the budget allocations by governments for infrastructure development will also prove to be beneficial.
Ready-Mix Concrete Market: Key Trends and Opportunities
Various initiatives by governments regarding the development of smart cities will help drive the global ready-mix concrete market. The demand for wastage reduction, efficient utilization, and low inventory costs is leading to lowering of overall project expenditures and this will boost the demand for ready-mix concrete. Ready-mix concrete is extensively opted today, owing to the ease of use, high quality, better convenience, and better economy.
However, the handling of concrete from the mixer to various points of work is one of the key challenges faced by players operating in the global ready-mix concrete market. In addition to this, high initial investments for setting up manufacturing plants for ready-mix concrete will restrain the market.
On the other hand, it is expected that the introduction of new infrastructure construction projects will create a heightened demand for ready-mix concrete. This will ensure a continued growth of the market in the coming years.
Ready-Mix Concrete Market: Region-wise Outlook
The global ready-mix concrete market can be segmented on the basis of geography into Asia Pacific, North America, Europe, and the Rest of the World. Of these, it is most likely that Asia Pacific will lead in the market owing to a growing number of new infrastructural projects in India, Singapore, China, and Thailand. Rapid industrialization and urbanization in these countries are behind the growth of the market in Asia Pacific.
Ready-Mix Concrete Market: Competitive Outlook
The global ready-mix concrete market is competitive with a large number of industry players in China, India, and the U.S. Some of these players are Barney & Dickenson, Inc., ACC Ltd., Lafarge, Vicat S.A., Buzzi Unicem S.p.A., R.W. Sidley, Inc, Italcementi Group, CEMEX S.A.B. de C.V., Holcim Ltd., UltraTech Cement, Dillon Bros Ready Mix Concrete, LLC, Livingston's Concrete Service, Inc., HeidelbergCement, Hanson Cement Ltd., and U.S. Concrete, Inc. Players in the market are constantly participating in mergers and acquisition activities in order to expand their businesses and achieve geographical expansion.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.