The Europe Prestressed Concrete (PC) Wire and Strand Market would witness market growth of 4.6% CAGR during the forecast period (2023-2030).
Prestressing helps counteract the tensile forces that can cause deflection and cracking in concrete structures. As a result, prestressed concrete structures are less prone to deformation and cracking, ensuring their long-term durability and performance. The increased strength of prestressed concrete allows for the construction of thinner structural members, reducing the overall weight of the structure and the amount of concrete required.
This can lead to cost savings and more efficient designs. The use of precast concrete elements in prestressed construction allows for faster assembly and shorter construction times. This can result in cost savings and quicker project completion. Prestressed concrete offers designers’ greater flexibility in shaping and designing structures. It can accommodate a variety of architectural and engineering requirements, allowing for innovative and aesthetically pleasing designs.
In 2022, the UK Government planned to invest over 160 million dollars to improve infrastructure and aid local communities. This expenditure is mainly focused on the development and repair of 4 major road schemes, namely road linking St Austell to the A30, Tyne Bridge, A34, and A35 Redbridge Causeway. The expenditure of £35.3 million for essential maintenance on the Tyne Bridge and adjacent Central Motorway, like enhancements to traffic management and cycle route facilities, will generate £130.5 million in economic benefits by enhancing local connectivity. The A35 Redbridge Causeway is a crucial link between the New Forest, Southampton, and its port. Its essential maintenance will cost £13.4 million, and enhanced connectivity will result in roughly £340 million in direct economic benefits. This ongoing demand for infrastructure projects will contribute to the sustained growth of the market in the region.
The Germany market dominated the Europe Prestressed Concrete (PC) Wire and Strand Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $191.4 million by 2030. The UK market is experiencing a CAGR of 3.8% during (2023 - 2030). Additionally, The France market would exhibit a CAGR of 5.4% during (2023 - 2030).
Based on Type, the market is segmented into 7 Wire Strand, 3 Wire Strand and Others. Based on End User Industry, the market is segmented into Infrastructure and Building Construction. Based on Application, the market is segmented into Pre-tensioning, Bonded Post-tensioning and Unbonded Post-tensioning. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Prestressed Concrete (PC) Wire and Strand Market will Hit $7.7 Billion by 2030, at a CAGR of 5.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ArcelorMittal S.A., Sumitomo Electric Industries, Ltd., TATA Steel Limited (TATA Group and Tata Sons Pvt. Ltd.), N.V. Bekaert S.A., Kiswire LTD., Miki Steel Works Pvt. Ltd. (Miki Group Of Companies), Insteel Industries, Inc., TMG Global Pte Ltd., Kataria Group, and Usha Martin Limited.
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