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Ready Mix Concrete Market Size

Report ID: GMI5901
Published Date: Nov 2024
Report Format: PDF

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Ready Mix Concrete Market Size

The global ready mix concrete market size was valued at USD 280.2 Billion in 2023 and is estimated to grow at a CAGR of over 6.3% from 2024 to 2032. Local governments are increasing their budgets for infrastructure development, which is driving the growth of the ready-mix concrete market. When governments spend more on public projects like roads, bridges, highways, and public buildings, the demand for ready-mix concrete goes up.

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This type of concrete is popular because it offers consistent quality, can be scaled up easily, and is efficient for large projects that need a lot of concrete. Governments also focus on urban development, sustainable construction, and updating old infrastructure, all of which need a lot of ready-mix concrete. These projects are often time-sensitive, and ready-mix concrete helps ensure timely delivery and reduces delays. Additionally, government programs like public-private partnerships and stimulus plans further increase the demand for ready-mix concrete by supporting large construction projects aimed at improving transportation, public utilities, and disaster recovery. As a result, more spending on infrastructure by local governments is a major factor driving the growth of the ready-mix concrete market worldwide.

Ready Mix Concrete Market Report Attributes
Report Attribute	Details
Base Year:	2023
Ready Mix Concrete Market Size in 2023:	USD 280.2 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	6.3%
2032 Value Projection:	USD 473.7 billion
Historical Data for:	2021 - 2023
No. of Pages:	230
Tables, Charts & Figures:	150
Segments covered:	By Production, By Type, By End-user
Growth Drivers:	Expanding budget allocations for infrastructure development by local governments Rapidly growing population and ascending disposable income levels Urban development and housing growth
Pitfalls & Challenges:	High Transportation Costs Competition from Alternative Materials

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Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The global ready-mix concrete industry was valued at USD 280.2 billion in 2023 and is estimated to grow at a 6.3% CAGR from 2024 to 2032, driven by increased government spending on infrastructure development.

The residential segment held a 37.7% share in 2023 due to rising housing demand, urbanization, and government support for residential construction.

The U.S. ready-mix concrete market is expected to reach USD 100 billion by 2032, fueled by significant investments in infrastructure renewal and large-scale construction projects.

Key players in the industry include BBMG Corporation, Anhui Conch, Cemex, China National Building Material Group, CRH, CSCEC, Foshan Huijiang Concrete, and Heidelberg Materials.