India Ready-Mix Concrete Market worth US$ 22.53 Billion 2024 with a CAGR of 9.02%

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Published Date: May 2023

The report "India Ready-Mix Concrete Market, By Production (On-site and Offsite), By Product Type (Transit Mixed Concrete and Shrink Mixed Concrete), By Application (Commercial, Residential, Infrastructure, and Industrial) - Trends, Analysis and Forecast till 2030.

Key Highlights:

In June 2018, the Asian Infrastructure Investment Bank (AIIB) announced its decision to invest USD 200 million in India’s National Investment and Infrastructure Fund (NIIF).
In May 2019, ULTRATECH CEMENT continuous efforts towards sustainability and innovation have developed in-house technology to use all waste generated from the rejected concrete in the form of sludge or slurry, for further recycling into Ready Mix Concrete (RMC) production. This new technology is fully automated and also enables the plant to be real zero discharge with no water and solid waste.

Analyst View:

India ready-mix concrete market is projected to grow from US$ 14.63 billion in 2019 to US$ 22.53 billion by 2024. Growing population, increasing urbanization, and rising focus of government on infrastructural development are driving India ready-mix concrete market. The government of India propelled smart cities program to build cities equipped with good infrastructure delivering high quality of life through smart solutions, which is expected to raise the demand for RMC. In 2018, the government approved the construction of Shahpurkandi Dam Project in Punjab, which is likely to help Punjab generate 206 MW of hydropower. This project is also likely to help Punjab add an additional irrigation potential of 5,000 hectares. The construction is projected to be completed by 2022. Moreover, the establishment of power plants and manufacturing facilities to keep up with the growing demand for energy is further expected to stimulate the demand for RMC over the forecast period.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “India Ready-Mix Concrete Market”, By Production (On-site and Off site), By Product Type (Transit Mixed Concrete and Shrink Mixed Concrete), By Application (Commercial, Residential, Infrastructure, and Industrial) - Trends, Analysis and Forecast till 2030

Key Market Insights from the report:

The India ready-mix concrete market accounted for US$ 14.63 billion in 2019 and is projected to register a moderate CAGR over the forecast period. The market report has been segmented on the basis of production, product type, and application.

By production, the global market is segmented into on-site and off-site. The onsite segment is expected to contribute larger share in the market over the forecast period
By product type, the global market is bifurcated into transit mixed concrete and shrink mixed concrete
By application, the infrastructure segment is projected to dominate the market during the forecast period owing to increasing construction activities such as the construction of highways, dams, roads, airports, among others. The commercial segment is also anticipated to hold substantial market share over the forecast period due to rising population with improved standard of living, which is resulting in increasing construction of commercial buildings such as schools, colleges, shopping malls, offices, banks, and hospitals

Competitive Landscape:

The prominent player operating in the India ready-mix concrete market includes ACC Limited, Alcon, Aparna Enterprises Ltd., Bharat Cement Products, Best Readymix, Concrete India, Firstchoice ReadyMix, India Cements Ltd., JK Lakshmi Cement Ltd., and LafargeHolcim.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory framework across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

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Some Important Points Answered in this Market Report Are Given Below:

Explains an overview of the product portfolio, including product development, planning, and positioning
Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and sales performance of various companies
Detailed analysis of this XYZ market revenue in previous & next coming years
Examining various outlooks of the XYZ market with the help of Porter’s five forces analysis.
Study on the product type that is anticipated to dominate the XYZ market.
Study on the regions that are expected to register the fastest growth over the forecast period.