US demand for precast concrete infrastructure construction products is expected to increase 4.4% annually to $2.4 billion by 2022, according to new market research by the Cleveland-based Freedonia Group. Growth, says the Freedonia Group (Freedonia), will be fuelled by the need to repair the nation’s aging network of bridges, highways, roads and railroad tracks and increased adoption of precast concrete over less expensive site-poured concrete, as more government officials recognise that the long-term
US demand for precast concrete infrastructure construction products is expected to increase 4.4% annually to $2.4 billion by 2022, according to new market research by the Cleveland-based Freedonia Group.
Growth, says the Freedonia Group (Freedonia), will be fuelled by the need to repair the nation’s aging network of bridges, highways, roads and railroad tracks and increased adoption of precast concrete over less expensive site-poured concrete, as more government officials recognise that the long-term cost savings provided by its durability outweigh short term considerations. Freedonia says another growth factor will be efforts by the U.S. federal government to increase spending on new infrastructure, particularly if Congress passes a significant new funding bill.
Overall gains, continues Freedonia, will be restricted by transport infrastructure funding concerns at the state and local levels due to budget constraints. All these and other trends are presented in ‘Precast Concrete Products in the US, 4th Edition’.
Demand for precast concrete bridge components is expected to increase 5.8% annually to $1.1 billion by 2022, the fastest pace of any infrastructure component. Demand growth will be driven by the high number of U.S. bridges currently rated as structurally deficient that will require significant maintenance and repairs, and increased usage of precast concrete bridge components because the lack of required curing time allows bridge repair and replacement jobs to be completed more quickly, minimising disruptions for motorists and waterway traffic.
The Freedonia report does stress that there will be applications for which site-poured concrete and steel will continue to be specified. Although steel components are susceptible to degradation and site-poured concrete can become damaged and cause structural deficiencies, some cash-strapped governments may opt to use these products because of the short-term cost savings they provide.
