According to a new report, published by KBV research, The Global Prestressed Concrete (PC) Wire and Strand Market size is expected to reach $7.7 billion by 2030, rising at a market growth of 5.1% CAGR during the forecast period.
The 3 Wire Strand segment is showcasing a CAGR of 5.6% during (2023 - 2030). -wire strands are commonly used in various prestressed concrete applications, such as precast concrete beams, girders, and other structural elements. They are also used in post-tensioning systems for bridges and buildings. Three-wire strands offer several advantages, including high tensile strength, improved structural performance, reduced material usage, and longer service life of concrete structures. They contribute to the overall durability and longevity of the construction.
The Infrastructure segment is leading the Global Prestressed Concrete (PC) Wire and Strand Market by End User Industry in 2022 thereby achieving a market value of $6 Billion by 2030. Infrastructure projects often involve the construction of bridges and viaducts. These structures require materials capable of withstanding heavy loads, dynamic forces, and harsh environmental conditions. PC wire and strand are essential for prestressed concrete bridge girders, allowing longer spans and reduced maintenance. Railway projects demand robust and long-lasting infrastructure. PC wire and strand are employed in constructing railway bridges, tunnels, and track systems, ensuring the safety and efficiency of rail transport.
The Bonded Post-tensioning segment has shown the high growth rate of 5.6% during (2023 - 2030). The demand for high-strength, durable concrete structures is rising in the construction industry. Bonded post-tensioning allows for the creating of these structures by reinforcing them with high-strength steel tendons, which helps meet the growing demand for more robust buildings and infrastructure. Rapid urbanization, especially in emerging economies, drives the need for efficient and sustainable infrastructure solutions.
The Asia Pacific region dominated the Global Prestressed Concrete (PC) Wire and Strand Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $4 Billion by 2030. The LAMEA market is poised to grow at a CAGR of 5.4% during (2023 - 2030). Additionally, The North America market would witness a CAGR of 4.6% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/prestressed-concrete-wire-and-strand-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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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