Global Tensioning Systems/Prestressed Concrete Market Size Forecasted to Grow to $165.3 Billion by 2030, Increase at a CAGR of 6.54% Between 2023 and 2030

Houston, TX, April 13, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Tensioning Systems/Prestressed Concrete Market By Type (Internal Prestressing: Pre-Tensioning, Post-Tensioning: Bonded Post-Tensioning, Unbonded Post-Tensioning; External Prestressing), By Force Applied (Electrical, Mechanical, Hydraulic), By Application (Building Structures, Civil Structures: Bridges, Dams, Nuclear And Blast-Containment Structures, Silos And Tanks, Hardstands And Pavements), By Region: Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts, 2023 – 2030” in its research database.

“According to the latest research study, the demand of global Tensioning Systems/Prestressed Concrete Market size & share in terms of revenue was valued at USD 103.9 billion in 2022 and it is expected to surpass around USD 165.3 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 6.54% during the forecast period 2023 to 2030.”

What is Tensioning Systems/Prestressed Concrete? How big is the Tensioning Systems/Prestressed Concrete Industry?

Report Overview:

The global tensioning systems/prestressed concrete market size was worth around USD 103.9 Billion in 2022 and is expected to reach USD 165.3 Billion by 2030, growing at a CAGR of 6.54% during the forecast period.

Prestressed concrete is a type of reinforced concrete that is specially designed to withstand high compressive and tensile stresses. It is made by pre-tensioning or post-tensioning high-strength steel cables, rods, or strands inside the concrete before it is cast, thereby putting the concrete into compression before any loads are applied to it. This results in a stronger and more durable material that can span longer distances without the need for intermediate supports, making it ideal for use in bridges, high-rise buildings, and other structures that require high strength and stability. Prestressed concrete is also known for its resistance to cracking, corrosion, and deformation, making it a popular choice for construction projects around the world.

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Global Tensioning Systems/Prestressed Concrete Market: Growth Factors

The global tensioning systems/prestressed concrete market is expected to surge exponentially due to the increasing demand for durable and sustainable construction materials, the rising popularity of prefabricated construction methods, and the growing awareness of the benefits of prestressed concrete. This growth is further supported by increasing government investments in infrastructure development worldwide, particularly in the Asia-Pacific region, which is expected to witness significant growth in the market.

However, the global tensioning systems/prestressed concrete market industry also faces certain challenges, including the high cost of initial investment, the lack of skilled labor & technical expertise, and the availability of alternative materials such as steel & timber. Moreover, the COVID-19 pandemic has affected the construction industry as a whole, leading to project delays and cancellations and disrupting supply chains.

Despite these challenges, the market presents significant opportunities for growth, particularly in the adoption of new technologies & sustainable practices, the development of new construction methods & materials, and the expansion of infrastructure development in emerging economies. Furthermore, the increasing focus on green construction and sustainable development is expected to drive demand for eco-friendly and energy-efficient building materials, including prestressed concrete. These factors are predicted to create ample opportunities for the growth of the market during the forecast period.

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Report Scope

Tensioning Systems/Prestressed Concrete Market: Segmentation Analysis

The global tensioning systems/prestressed concrete market is segmented based on type, force applied, application, and region.

Based on type, the market is bifurcated into internal prestressing and external prestressing segments. The internal prestressing segment held the dominating market share in 2022 and is further predicted to grow rapidly at a significant CAGR during the forecast period. The internal prestressing segment is a popular choice for a wide range of construction projects, including buildings, bridges, and other large-scale infrastructure projects. This is because it offers several advantages over traditional reinforced concrete, including higher load-carrying capacity, longer spans, and reduced material usage. Furthermore, the internal prestressing segment is expected to witness significant growth in the coming years, driven by factors such as the increasing demand for sustainable and durable construction materials, the growing adoption of prefabricated construction methods, and the rising investments in infrastructure development.

Based on force applied, the industry is segregated into electrical, mechanical, and hydraulic.

Based on application, the market is segmented based on building structure and civil structure segments. The building structure segment held the dominating market share in 2022 and is further predicted to grow at an exponential CAGR during the forecast period. In the prestressed concrete market, the building structure segment is a major application area for prestressed concrete. Building structures include a wide range of structures such as high-rise buildings, commercial buildings, industrial structures, residential buildings, and more. Prestressed concrete is widely used in the construction of these buildings due to its high strength and durability. The use of prestressed concrete in building structures offers several advantages, such as greater flexibility in design, longer spans, reduced material usage, and faster construction times. These benefits make prestressed concrete a popular choice for architects, engineers, and contractors, as they allow for more efficient and cost-effective building construction.

The global Tensioning Systems/Prestressed Concrete market is segmented as follows:

By Type

• Internal Prestressing
• External Prestressing

By Force Applied

• Electrical
• Mechanical
• Hydraulic

By Application

• Building Structures
• Civil Structures

Browse the full “Tensioning Systems/Prestressed Concrete Market By Type (Internal Prestressing: Pre-Tensioning, Post-Tensioning: Bonded Post-Tensioning, Unbonded Post-Tensioning; External Prestressing), By Force Applied (Electrical, Mechanical, Hydraulic), By Application (Building Structures, Civil Structures: Bridges, Dams, Nuclear And Blast-Containment Structures, Silos And Tanks, Hardstands And Pavements), By Region: Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts, 2023 – 2030”- Report at https://www.zionmarketresearch.com/report/tensioning-systems-prestressed-concrete-market

Competitive Landscape

Some of the main competitors dominating the global Tensioning Systems/Prestressed Concrete market include - 

• L&T Construction
• Skanska
• Taiheiyo Cement Corporation
• HeidelbergCement
• Coltman Precast Concrete Limited
• Coreslab Structures
• CRH plc
• Stresscon Corporation
• Precon Products
• EnCon United
• Kiewit Corporation
• Clark Pacific Corporation
• US Concrete Inc.
• Oldcastle Infrastructure
• Wagners Holding Company Limited
• Molin Concrete Products Company
• Tindall Corporation
• The Prestressed Group
• American Concrete Products
• Among others.

 Key Insights from Primary Research:

• According to the analysis shared by our research forecaster, the Tensioning Systems/Prestressed Concrete market is likely to expand at a CAGR of around 6.54% during the forecast period (2023-2030).
• In terms of revenue, the Tensioning Systems/Prestressed Concrete market size was valued at around US$ 103.9 billion in 2022 and is projected to reach US$ 165.3 billion by 2030.
• Based on type, the internal prestressing segment held the dominating market share in 2022.
• Based on application, the building structures segment held the largest market share in 2022.
• Based on region, the Asia-Pacific region is predicted to grow at a rapid CAGR during the forecast period.

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Key questions answered in this report:

• What is the market size and growth rate forecast for Tensioning Systems/Prestressed Concrete industry?
• What are the main driving factors propelling the Tensioning Systems/Prestressed Concrete Market forward?
• What are the leading companies in the Tensioning Systems/Prestressed Concrete Industry?
• What segments does the Tensioning Systems/Prestressed Concrete Market cover?
• How can I receive a free copy of the Tensioning Systems/Prestressed Concrete Market sample report and company profiles?

Key Offerings:

• Market Size & Forecast by Revenue | 2023−2030
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis By Type, By Force Applied, By Application, And By Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Analysis:

The Asia-Pacific region held a remarkable tensioning system/prestressed concrete market share and is further anticipated to occupy a significant CAGR during the forecast period. This is mainly due to rapid urbanization & industrialization, increasing infrastructure development activities, and rising government investments in transportation & energy projects. Furthermore, the growing adoption of sustainable and eco-friendly construction practices is some of the key factors driving market growth in the region. In addition, the region's large population and rising disposable incomes are driving demand for better and more modern infrastructure, which is further fueling growth in the prestressed concrete market. Furthermore, the growing trend of urbanization is leading to the development of smart cities, which require advanced construction materials and techniques, providing further growth opportunities for the market in the Asia-Pacific region.

By Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

Recent Developments

• In February 2021, Oldcastle Infrastructure, a U.S.-based construction materials company, announced the launch of a new line of prestressed concrete products for the transportation and infrastructure markets. The company's new prestressed concrete products are designed to provide high strength and durability, while also being lightweight and easy to install. This development is expected to strengthen the company's position in the prestressed concrete market, particularly in the transportation and infrastructure sectors.
• In September 2021, Cemex, an innovative Spanish construction materials company, announced that it had supplied over 10,000 cubic meters of prestressed concrete beams for the construction of a new section of a highway in Poland. The project used Cemex's latest prestressed concrete technology, which is designed to provide high strength and durability while reducing material usage and carbon emissions. This development is expected to strengthen the company's position in the European market and reinforce its commitment to sustainability.

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FREQUENTLY ASKED QUESTIONS

• What is Prestressed Concrete?
• At what CAGR, the global tensioning systems/prestressed concrete market will expand during forecast years?
• What will be the market value of global tensioning systems/prestressed concrete market by the end of 2030?
• What are the factors driving the global tensioning systems/prestressed concrete market growth?
• Which region will contribute notably towards the tensioning systems/prestressed concrete market value?
• Who are the leading players in the global tensioning systems/prestressed concrete market?

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