The latest intelligence report published by Report Ocean, titled “Chile Precast Construction Market”2023: Increase in Demand and Opportunities,” offers valuable insights into the industry. The report provides a comprehensive analysis of research and information from various sources, empowering decision-makers worldwide to make a significant impact on the global economy. With a dynamic vision of the market size, statistics, and competitive landscape, the report presents a complete overview of the industry. It covers future trends, growth factors, consumption, production volume, CAGR value, opinions, profit margin, pricing, and industry-validated market data. This report assists individuals and market competitors in predicting future profitability and making crucial decisions for business growth.
The Chile precast construction market size is expected to reach $492.1 million in 2027, from $323.0 million in 2019, growing at a CAGR of 6.9% from 2020 to 2027. Precast construction, also known as prefabricated construction or off-site construction involves casting of building or infrastructural elements in another location. The casted member is then transported and fixed securely to form a monolithic structure. The separate building parts are usually joined using bolts or by pouring concrete in the connection gaps. Around 60% to 90% construction activities are conducted off-site in precast construction.
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Further, precast construction can be classified into two main types namely, modular construction and manufactured homes. Modular construction mainly includes casting of separate building parts in factory environment, whereas manufactured homes include complete construction of homes which are transported on their own frame or chassis to the desired location.
Precast construction is often carried out in enclosed and controlled environments which helps in maintaining the quality of construction. In addition, precast construction includes use of high strength concrete which improves the seismic resistance of the structure. Chile lies on the tectonic plate boundary and the subduction zone, where the ocean crust slides under the continent land causing compressional deformation, known as the Peru-Chile trench. This makes the country prone to earthquakes. The most severe earthquake measured in human history with a magnitude of 9.5 occurred in Chile in 1960 following with occurrence of seismic activities at average intervals of 25 to 100 years apart. Such earthquakes cause major damage to the public and private infrastructure and often cause fatalities due to failure of buildings.
The use of precast construction with enhanced seismic design can assist in overcoming the damage caused to human life and property. This drives the growth of the Chile precast construction market. Furthermore, increasing investment on infrastructural projects in pipeline also drives the demand for the precast construction practices in Chile. Since 1993, a total of 98 contracts have been awarded through public private partnership (PPP) with value of more than $25.05 billion. Further, Chile has 24 finalized projects and 74 ongoing projects within which the Chilean Ministry of Public Works (MOP) has announced its plans of tendering $3 billion in contracts on average per year in 2020 to 2024.
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According to the Modular Building Institute based in the U.S., use of precast construction can reduce construction time by 30% to 50%, when compared to the traditional practices. This also includes use of high-quality construction materials and safe construction practices which helps in sustaining the quality of construction. This further drives the demand of precast construction in Chile which in turn boosts the growth of the Chile precast construction market.
However, the unstable socio-economic condition is likely to hamper the growth of the Chilean economy. The social unrest and inequality in living standards of population has disrupted the economic growth in Chile during recent years. According to the World Bank, the social unrest has resulted in decline in the GDP from 3.9% in 2018 to 1.1% in 2019. In addition, the country is also facing high inequality of opportunities to the growing middle class owing to segmented service provision in healthcare, education, and segregated labor market. Such factors restrain the growth of the Chile precast construction industry.
On the contrary, the use of technologies such as digital tools in planning and designing of precast components is likely to create lucrative opportunities for the growth of the Chile precast construction market. In addition, use of new concrete technologies such as ultra-high-performance concrete, light weight concrete, fiber reinforced concrete, and others improve the quality of precast construction. This can also surge the demand for precast construction in Chile during the forecast period.
The Chile precast construction market is segmented on the basis of product, construction type, and end-user industry. Based on product, the Chile precast construction market is fragmented into columns & beams, floors & roofs, walls, staircases, girders, paving slabs, and others. By construction type, the market is classified into modular and manufactured homes. According to end-user industry, the Chile precast construction market is categorized into residential and non-residential.
COMPETITION ANALYSIS
The key market players profiled in the report include Ecomundo, Hormipret, Pacadar SAU, Prefabrik Yapi A.?, Prefast SpA, Ramaq Chile, Tecno Fast, Tensacon, Tensocret, and Vollert Anlagenbau GmbH.
Many competitors in the Chile precast construction market adopted business expansion as their key developmental strategy to expand their geographical foothold and upgrade their product technologies. For instance, in October 2019, the Chile based company E2E, which is a joint venture between Celulosa Arauco y Constitucin based in Chile and Belgian company Etex, inaugurated its first manufacturing unit for wooden buildings and prefabricated housing. The company started business in Chile in February 2019 and has developed two 4-storey buildings and four hundred 2-storey houses in Chile and Casablanca respectively.
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KEY BENEFITS FOR STAKEHOLDERS
? The report provides an extensive analysis of the current and emerging Chile precast construction market trends and dynamics.
? In-depth analysis of the market is conducted by constructing market estimations for the key market segments between 2019 and 2027.
? Extensive analysis of the market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
? A comprehensive Chile precast construction market opportunity analysis of all the countries is also provided in the report.
? The Chile precast construction market forecast analysis from 2020 to 2027 is included in the report.
? The key players within the market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the industry.
CHILE PRECAST CONSTRUCTION MARKET SEGMENTS
BY PRODUCT
– Columns & Beams
– Floors & roofs
– Walls
– Staircases
– Girders
– Paving slabs
– Others
BY CONSTRUCTION TYPE
– Modular construction
– Manufactured homes
BY END-USER INDUSTRY
– Residential
– Non-residential
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Table of Contents:
- Introduction and Scope
- Definition and Forecast Parameters
- Methodology and Forecast Parameters
- Information Sources
- Latest Trends Summary
- Regional Trends
- Product Trends
- End-Use Trends
- Business Trends
- Industry Insights
- Industry Fragmentation
- Industry Landscape
- Vendor Matrix
- Technological and Innovative Landscape
- Market by Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
- Company Profiles
- Company Overview
- Financial Elements
- Product Landscape
- SWOT Analysis
- Systematic Outlook
Market Dynamics:
Drivers:
- Increasing emphasis on self-care and wellness, particularly among women. A
- Growing awareness of the health and beauty benefits offered by dietary supplements.
- Rising disposable incomes and willingness to invest in premium health and beauty products.
- Influence of social media and beauty influencers shaping consumer preferences.
- Changing lifestyles and health concerns driving the demand for supplementary nutrition.
Restraints:
- Lack of regulatory oversight and quality control in the supplements industry.
- Consumer skepticism and confusion regarding product claims and effectiveness.
- Potential risks and interactions with other medications or health conditions.
- Limited accessibility and affordability of supplements in certain regions.
Opportunities:
- Increasing demand for natural and organic supplements.
- Untapped market potential in the Asia-Pacific region.
- Development of innovative formulations and delivery methods.
- Collaborations with beauty brands or influencers for product endorsements.
- Integration of technology to personalize nutrition and enhance consumer experience.
Challenges:
- Intense competition among market players.
- Navigating regulatory complexities and meeting regional standards.
- Building trust and credibility with consumers.
- Educating consumers about the benefits and proper usage of supplements.
- Addressing concerns and skepticism regarding the safety and efficacy of supplements.
The report will include answers to the following key questions:
- What are the key current trends that can impact the product life cycle and return on investment?
- How do regulatory changes affect corporate, business, and functional strategies?
- Which initiatives by major players in micromarketing are likely to attract investment?
- What are the recommended frameworks and methodologies for conducting PESTLE analysis?
- In which areas are there emerging opportunities for growth and development?
- Which game-changing technologies will be instrumental in capturing new revenue streams in the near future?
- What operational and tactical frameworks are different players adopting to foster customer loyalty?
- What is the current level of market rivalry, and what is the expected degree of competition in the coming years?
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