Market Size of india ready mix concrete Industry
| Icons | Lable | Value |
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Study Period | 2018 - 2030 |
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Market Volume (2024) | 248.76 Million Cubic meters |
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Market Volume (2030) | 373.26 Million Cubic meters |
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Largest Share by End Use Sector | Commercial |
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CAGR (2024 - 2030) | 7.00 % |
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Fastest Growing by End Use Sector | Commercial |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
India Ready Mix Concrete Market Analysis
The India Ready Mix Concrete Market size is estimated at 248.76 million Cubic meters in 2024, and is expected to reach 373.26 million Cubic meters by 2030, growing at a CAGR of 7.00% during the forecast period (2024-2030).
248.76 Million
Market Size in 2024 (Cubic meters)
373.26 Million
Market Size in 2030 (Cubic meters)
2.47 %
CAGR (2018-2023)
7.00 %
CAGR (2024-2030)
Largest Market by Product
70.98 %
volume share, Transit Mixed, 2023
Owing to the strict timelines of construction projects and the use of affordable concrete in the country's construction industry, transit mix has dominated the market.
Fastest Market by Product
7.58 %
Projected CAGR, Shrink Mixed, 2024-2030
Due to optimum operation efficiency and increased delivery capacity, the usage of shrink mix is increasing in the country's infrastructure and commercial sector and is expected to continue its growth in the coming years.
Largest Market by End Use Sector
30.74 %
volume share, Commercial, 2023
Due to rapid urbanization, rising foreign direct investments (FDI), and Grade A office markets, coupled with increasing usage of ready-mix concrete in major commercial building projects, the commercial sector holds the largest share.
Fastest Market by End Use Sector
8.19 %
Projected CAGR, Commercial, 2024-2030
Growing investments in construction for IT Hubs, coupled with increasing consumption of ready-mix concrete for malls, offices, etc., are expected to drive the demand in the sector during the forecast period.
Leading Company
2.52 %
market share, UltraTech Cement Ltd., 2022
UltraTech Cement Ltd. has dominated the market with its largest ready-mix concrete production capacity in the country, around 14.1 million cubic meters per annum. It has nearly 150 ready-mix concrete plants spread across the country.
High investments through FDIs and government schemes in India's construction sector are predicted to augment the demand for ready-mix concrete
- India's ready-mix concrete market, which caters to diverse projects like housing, infrastructure, and commercial buildings, held a 6.24% share of the market in Asia-Pacific in 2022. The market was poised for growth, with a projected increase of 6.93 million cubic meters in 2023, bolstered by government initiatives aimed at bolstering the nation's construction sector.
- In 2022, infrastructure construction was the dominant driver of India's ready-mix concrete market, accounting for a significant 72.6 million cubic meters. This surge can be attributed to heightened foreign direct investments, particularly in bolstering the nation's transportation networks, including roads, highways, and airports. Infrastructure spending was expected to rise by USD 3.9 billion in 2023, further fueling the demand for ready-mix concrete.
- Projections indicate that the commercial construction segment will witness a CAGR of 6.86% in volume during the forecast period. This is in line with estimates that India's new commercial floor space will expand by 396 million square feet by 2030, a significant jump from 2022. This uptick in commercial construction will inevitably drive up the demand for ready-mix concrete.
- Notably, industrial construction is anticipated to experience the second-highest CAGR of 7.13% in volume during the forecast period. India is positioning itself as a global manufacturing hub, particularly for electronics and automobiles, by 2030. This vision is bolstered by investments from industry giants such as Amazon and Tesla, alongside government incentives. These factors are propelling the construction of manufacturing units, thereby driving the demand for ready-mix concrete.
Understand The Key Trends Shaping This Market
