India Ready Mix Concrete Market is expected to register a high CAGR during the Forecast Period
Rising investment in the infrastructure sector by the union
& states government and reasonable prices & quality products are
driving the growth of the India Ready
Mix Concrete Market in the forecast period, 2024-2028.
According to TechSci Research report, “India Ready Mix Concrete Market
- By Region, Competition Forecast & Opportunities, 2028,” the India Ready Mix Concrete Market is
expected to rise with a largest market share in the upcoming years and is expected
to maintain a high CAGR during the
forecast period, 2023-2028. Cement, additives, aggregates, water, and mixes in
predetermined ratios are all ingredients in ready-mix concrete. To achieve the
desired strength and durability, ready mix concrete (RMC) proportions all
elements in line with accepted norms of practise. The methods used in mixing,
laying, compacting, finishing, curing, and protecting concrete all affect its
quality. Due of its simplicity, convenience, and superior quality,
(RMC) is preferred over standard concrete.
The India Ready Mix Concrete Market is
being driven by factors including expanding urbanization, a growing population,
and a growing emphasis on infrastructure development by the government. In
order to construct cities with great quality of life and strong infrastructure,
the Indian government created the smart cities initiative, which is projected
to increase demand for RMC. In addition, it is predicted that the construction
of factories and power plants to meet the rising energy demand would increase
demand for RMC throughout the forecast period. In addition, government programs
like "Smart Cities mission," "Housing for All," and
"Pardhan Mantri Awas Yojana - a national housing scheme" are thriving
the residential and commercial building sectors, which is anticipated to play a
crucial role in propelling the India ready mix concrete market over the course
of the forecast period.
The development of regional airports,
the improvement of regional connectivity, and the reduction of air fare are all
priorities for the Indian government. In the Union Budget, which was unveiled
in February 2020, 100 more airports were recommended to be constructed by 2024
as part of the Center's UDAN initiative. Because of this, it is anticipated
that demand for ready mix concrete would rise in tandem with the expansion
of the commercial construction sector, which eventually drives the market
growth for ready mix concrete in India throughout the course of the
forecast period.
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According to India Investment Grid (IIG), residential real estate accounts for
40% of project development in the sector, public space development for 36%,
commercial real estate for 21%, and industry parks/zones for 3%. As a result,
it is anticipated that demand for ready mix concrete expected to increase in
the forecast period.
The India Ready Mix Concrete Market is
segmented based on production site, product type, application, region and
company. Based on application, the market can be segmented into commercial,
residential, industrial and infrastructure. On account of increasing
construction activities, such as the building of highways, roads, dams, and
airports, among other things, the infrastructure segment is predicted to
dominate the market with a healthy share in the upcoming years. Due to the expanding population and increased
development of commercial buildings including shopping malls, offices,
colleges, banks, and hospitals, the commercial category is also anticipated to
have a sizeable market share throughout the projection period.
Key market players in the
India Ready Mix Concrete Market include:
- Ultra Tech
Cement Limited
- ACC Limited
- Nuvoco
Vistas Corp. Ltd
- RDC Concrete(India) Pvt. Ltd
- Ijm Concrete
Products Private Limited
- Prism
Johnson Limited
- The India
Cements Limited
- The Ramco
Cement Limited
- JK Lakshmi
Cement Ltd
- Adani Group
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“In India Ready Mix Concrete Market is expected to boost in the upcoming years
owing to increased infrastructure spending by the federal and state
governments, helping to accelerate the speed of construction work, zero waste
& reduced dust pollution among others. The total budget allocated for the Prime
Minister’s Development Initiative for North-East (PMDevINE) Scheme is USD267.53
million. Additionally, the budget for 2023 includes an increase in the
investment in infrastructure activities. India is expected to need 60
million new homes by 2023, and there are more than 90 smart cities in the
development stages. Industry analysts note that ready mix concrete is expcetd
to play a key part in achieving such a massive task in such a short period of
time. Therefore, the market for ready mix concrete is expected to boost in the
upcoming years,” said Mr
Karan Chechi, Research Director with TechSci Research, a research-based global
management consulting firm.
“India
Ready Mix Concreate Market By Production Site (On Site
and Off Site), By Product Type (Transit Mixed Concrete, Central Mix
Concrete and Shrink Mixed Concrete), By Application (Commercial, Residential,
Infrastructure and Industrial), By Region, Competition
Forecast & Opportunities, 2028,” has
evaluated the future growth potential of India ready mix concrete market and
provides statistics and information on market structure, size, share, and
future growth. The report is intended to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities present in the India ready mix
concrete market.
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