North America Ready-Mix Concrete Market Size
| Study Period: | 2018 - 2028 |
| CAGR: | > 5 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Ready-Mix Concrete Market Analysis
The North American ready-mix concrete market is expected to register a CAGR of over 5% during the forecast period.
The COVID-19 pandemic wreaked havoc on labor-intensive industries like the building and construction industry. However, with all restrictions on social distancing norms and lockdowns lifted, the region is now progressing on the path to recovery.
- The growing demand for building construction across the region, along with the rising awareness about the potential advantages and superior properties of RMC over normal concrete, is expected to drive regional market growth.
- On the flip side, the easy availability of potential substitutes, along with the challenges associated with the transportation of RMC, may hamper the market growth.
- However, the rising investments in infrastructure development are resulting in increasing construction activities across the region, thereby providing potential opportunities to the ready-mix concrete market in the future.
- The United States is expected to the leader in the North American ready-mix concrete market during the forecast period.
North America Ready-Mix Concrete Industry Segmentation
Ready-mix concrete (RMC) is concrete that is used directly at the job site after being batched at a central plant. RMC finds its applications in foundations, walls, floors and bases, driveways, and other constructional activities, owing to its excellent properties. The North American ready-mix concrete market is segmented by end-user industry and geography. By end-user industry, the market is segmented into residential, commercial, industrial/institutional, and infrastructure. By geography, the market is segmented into the United States, Canada, and Mexico. The report covers the market size and forecasts for three countries across the region. For each segment, market sizing and forecasts have been provided on the basis of revenue (USD million).
| By End-user Sector | |
| Residential | |
| Commercial | |
| Industrial/Institutional | |
| Infrastructure |
| By Geography | |
| United States | |
| Canada | |
| Mexico |
North America Ready-Mix Concrete Market Trends
This section covers the major market trends shaping the North America Ready-Mix Concrete Market according to our research experts:
Infrastructure Construction Showing Great Potential for Growth
- Despite the volatility arising from the aftermath of the COVID-19 pandemic, infrastructure development has been successfully attracting significant investment around the globe.
- In the North American region, infrastructure development looks promising, with various projects already announced and initiated across major economies like the United States and Canada.
- For instance, the redevelopment of JFK International Airport was announced in December 2021. The new terminal is expected to be built over 2.4 million sq. ft., with an investment of USD 9.5 billion put into the redevelopment.
- Similarly, The Gateway Program is a comprehensive rail investment program that could potentially be one of the most crucial infrastructure programs in America, as it aims to improve upon present infrastructure and add capacity to the Northeast Corridor (NEC), which is one of the most used passenger rail lines in the country.
- Canada shows great promise in infrastructure development with several energy and water conservation projects planned across the country. One such project named Site C Clean Energy Project is the highest-value project in progress in the country, valued at CAD 16 billion (USD 12.76 billion). The project is expected to run into completion by 2025.
- Investment in infrastructure is expected to rise in the future with major economies preparing to eliminate potential bottlenecks in the infrastructure that may hamper the growth of the economy, thereby indicating strong potential for growth of the ready-mix concrete market in the infrastructure construction segment.
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United States to Dominate the Market
- The United States construction sector shows great promise with residential and infrastructure construction drawing in substantial focus and investment.
- According to the US Census Bureau and the US Department of Housing and Urban Development, a total of 1.5 million new building permits were issued in October 2022. A total of 1.3 million housing projects were completed, and another 1.4 million new housing projects were started during the same period.
- Buildings with five housing units or more grew by over 11% year-on-year between October 2021-2022, indicating a preference for multi-unit houses over individual houses in the region.
- Rising inflation and growing house prices could potentially slow down the housing market in the short term. However, the growth looks promising in the long run.
- Similarly, infrastructure development looks strong for the United States, with the government announcing a USD 2 trillion investment into infrastructure development in March 2021.
- In November 2021, Congress approved a USD 1 trillion federal investment to upgrade roads, bridges, airports, railway networks, and water systems. This is the largest federal investment in decades, indicating a great promise for the future of infrastructure construction in the country.
- These factors indicate that the infrastructure development may potentially gain strong traction in the coming years, thereby strengthening the market for ready-mix concrete in the region.
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North America Ready-Mix Concrete Industry Overview
The North American ready-mix concrete market is consolidated in nature. Some of the key players in the market include CEMEX SAB de CV, HOLCIM, Vicat SA, Buzzi Unicem SpA,
RGOS, and others.
North America Ready-Mix Concrete Market Leaders
CEMEX SAB de CV
Buzzi Unicem SpA,
HOLCIM
ARGOS
Vicat SA
*Disclaimer: Major Players sorted in no particular order
North America Ready-Mix Concrete Market News
- October 2022: CEMEX SAB de CV announced the launch of the first construction-grade 3D concrete printing technology in collaboration with COBOD, a global leader in 3D printing. The 3D printing solution utilizes conventional ready-mix concrete in the building process and will be available in Mexico.
- June 2022: Holcim Ltd announced the acquisition of Cajun Ready Mix Concrete, a leading company in the Baton Rogue, La. market, with a total of 8 plants and a 51 mixer-truck fleet under the brand. This acquisition is a move to expand its footprint in the Baton Rogue market while confirming its focus on growth across the North American region.
- March 2022: Argos USA announced its decision to sell a total 23 of its ready-mix concrete batching plants across the United States to Smyrna Ready Mix Concrete for USD 93 million. This move is a part of the company's decision to divest assets in suburban markets that aren't already integrated into its production and logistics chain.
North America Ready-Mix Concrete Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 Growing Demand for Building Construction across The Region
4.1.2 Superior Properties and Advantages Over Normal Concrete
4.2 Restraints
4.2.1 Easy Availability of Potential Subsitutes
4.3 Industry Value-Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Value)
5.1 By End-user Sector
5.1.1 Residential
5.1.2 Commercial
5.1.3 Industrial/Institutional
5.1.4 Infrastructure
5.2 By Geography
5.2.1 United States
5.2.2 Canada
5.2.3 Mexico
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 ARGOS
6.4.2 BuzziUnicem SpA
6.4.3 Cementos Pacasmayo SA
6.4.4 CEMEX SAB de CV
6.4.5 Colas Group
6.4.6 CRH
6.4.7 GCC
6.4.8 HeidelbergCement
6.4.9 HOLCIM
6.4.10 HORMIGON ANDINO SA
6.4.11 Polimix
6.4.12 Sika AG
6.4.13 Thomas Concrete Group
6.4.14 Titan Cement
6.4.15 UltraTech Cement
6.4.16 Vicat SA
6.4.17 Vulcan Materials
*List Not Exhaustive7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Increasing Construction Activities in the Region
North America Ready-Mix Concrete Market Research FAQs
What is the study period of this market?
The North America Ready-Mix Concrete Market market is studied from 2017 - 2027.
What is the growth rate of North America Ready-Mix Concrete Market?
The North America Ready-Mix Concrete Market is growing at a CAGR of >5% over the next 5 years.
Who are the key players in North America Ready-Mix Concrete Market?
CEMEX SAB de CV, Buzzi Unicem SpA,, HOLCIM, ARGOS, Vicat SA are the major companies operating in North America Ready-Mix Concrete Market.
North America Ready-Mix Concrete Industry Report
Statistics for the 2023 North America Ready-Mix Concrete market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. North America Ready-Mix Concrete analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.
