Tensioning Systems/Prestressed Concrete Market Size, Share, Trends, Growth 2030

Tensioning Systems/Prestressed Concrete Introduction

The global tensioning systems/prestressed concrete market size is set for rapid growth over the forecast period. In terms of revenue, the global tensioning systems/prestressed concrete market accounted for USD 103.9 Billion in 2022 and is expected to reach USD 165.3 Billion by 2030, growing at a CAGR of 6.54% during the forecast period.

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Global Tensioning Systems/Prestressed Concrete Market: Overview

Prestressed concrete is a type of concrete used in building processes. During manufacturing, it is significantly "prestressed" (compressed), in a way that strengthens it against the tensile forces that will occur while in operation. The tensioning of high-strength "tendons" located inside or adjacent to the concrete creates this compression and is performed to increase the efficiency of the concrete in use. Tendons can consist of threaded bars, single wires, or multi-wire strands that are usually made of high-tensile steels, aramid, or carbon fiber. The specialty of this concrete is that after the initial compression, the material that is obtained shows the quality of ductile high-strength steel when subjected to tension forces and of high-performance concrete when subjected to subsequent compression forces. In certain cases, this can result in enhanced serviceability or structural capability compared to conventionally reinforced concrete.

Key Insights

• As per the analysis shared by our research analyst, the global tensioning systems/prestressed concrete market is expected to grow annually at a promising CAGR of around 6.54% during the forecast period 2023-2030.
• In terms of revenue, the global tensioning systems/prestressed concrete market size was valued at around USD 103.9 billion in 2022 and is expected to reach USD 165.3 billion by 2030.
• Prestressed concrete is a type of reinforced concrete that is specially designed to withstand high compressive and tensile stresses. It is made by pre-tensioning or post-tensioning high-strength steel cables, rods, or strands inside the concrete before it is cast, thereby putting the concrete into compression before any loads are applied to it. This results in a stronger and more durable material that can span longer distances without the need for intermediate supports, making it ideal for use in bridges, high-rise buildings, and other structures that require high strength and stability.
• Based on type, the internal prestressing segment held the dominating market share in 2022.
• Based on application, the building structures segment held the largest market share in 2022.
• Based on region, the Asia-Pacific region is predicted to grow at a rapid CAGR during the forecast period.

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Global Tensioning Systems/Prestressed Concrete Market: Growth Factors

Rise in urbanization and development of advanced infrastructure drive the growth of the market

The global tensioning systems/prestressed concrete market is expected to experience significant growth in the near future. The growth of the construction industry and rising urbanization are expected to boost the demand for prestressed concrete systems or tensioning system market. Governments across all regions are concentrating on promoting the development of infrastructure, particularly in growing economies, leading to numerous real estate and infrastructure reforms and regulations.

Although 2020 has been a tough year for the construction industry due to Covid-19, it is predicted that the industry will show excellent growth in the near future, especially in developing economies. For instance, the Indian construction industry is expected to reach nearly USD 738.56 Billion by 2022 with a growth rate of 15.7% and is expected to be among the third largest globally. Prestressed concrete, which is used extensively for the construction of mega buildings and bridges, is one of the most robust and reliable types of concrete. In addition, rapid urbanization has an impact on higher demand for accommodation, employment, transport, and infrastructure. All these factors contribute to the growth of the market.

Global Tensioning Systems/Prestressed Concrete Market: Restraints

High cost of initial investment hinders the growth of the market to an extent

Key restraints of the prestressed concrete industry are the high initial cost of equipment and machinery required for production, which can make it difficult for new players to enter the market. In addition, the market faces challenges from the availability of alternative construction materials, such as steel and aluminum, which can be used in certain applications. Environmental concerns, such as carbon emissions from the production process, also pose a challenge to the growth of the market.

Global Tensioning Systems/Prestressed Concrete Market: Opportunities

Growth in the adoption of new technologies, eco-friendly practices create ample opportunities for the market

The tensioning systems/prestressed concrete market presents several opportunities for growth and innovation. With the increasing focus on sustainable and eco-friendly construction practices, there is a growing demand for advanced and high-performance construction materials such as prestressed concrete. This has opened up opportunities for companies to develop new and innovative prestressed concrete products that are more durable, energy-efficient, and environmentally friendly. In addition, the growing demand for infrastructure and construction projects in developing countries provides significant growth opportunities for the market. Furthermore, the adoption of new technologies such as 3D printing and robotics in the production process can lead to increased efficiency, reduced costs, and improved quality, providing further opportunities for the market.

Global Tensioning Systems/Prestressed Concrete Market: Challenges

Fluctuation of prices of raw materials acts as a challenge for the market

The tensioning systems/prestressed concrete industry faces several challenges, including the availability of skilled labor for the production and installation of prestressed concrete products. In addition, fluctuations in raw material prices and supply chain disruptions can impact the cost and availability of materials. Environmental regulations and sustainability concerns also pose challenges to the industry, with increasing pressure to reduce the carbon footprint of the production process. Lastly, the market is also subject to cyclical trends in the construction industry, which can lead to fluctuations in demand and affect the growth of the market.

Global Tensioning Systems/Prestressed Concrete Market: Segmentation

The global tensioning systems/prestressed concrete market is segmented based on type, force applied, application, and region.

Based on type, the market is bifurcated into internal prestressing and external prestressing segments. The internal prestressing segment held the dominating market share in 2022 and is further predicted to grow rapidly at a significant CAGR during the forecast period. The internal prestressing segment is a popular choice for a wide range of construction projects, including buildings, bridges, and other large-scale infrastructure projects. This is because it offers several advantages over traditional reinforced concrete, including higher load-carrying capacity, longer spans, and reduced material usage. Furthermore, the internal prestressing segment is expected to witness significant growth in the coming years, driven by factors such as the increasing demand for sustainable and durable construction materials, the growing adoption of prefabricated construction methods, and the rising investments in infrastructure development.

Based on force applied, the industry is segregated into electrical, mechanical, hydraulic

Based on application, the market is segmented based on building structure and civil structure segments. The building structure segment held the dominating market share in 2022 and is further predicted to grow at an exponential CAGR during the forecast period. In the prestressed concrete market, the building structure segment is a major application area for prestressed concrete. Building structures include a wide range of structures such as high-rise buildings, commercial buildings, industrial structures, residential buildings, and more. Prestressed concrete is widely used in the construction of these buildings due to its high strength and durability. The use of prestressed concrete in building structures offers several advantages, such as greater flexibility in design, longer spans, reduced material usage, and faster construction times. These benefits make prestressed concrete a popular choice for architects, engineers, and contractors, as they allow for more efficient and cost-effective building construction.

Recent Developments

• In February 2021, Oldcastle Infrastructure, a U.S.-based construction materials company, announced the launch of a new line of prestressed concrete products for the transportation and infrastructure markets. The company's new prestressed concrete products are designed to provide high strength and durability, while also being lightweight and easy to install. This development is expected to strengthen the company's position in the prestressed concrete market, particularly in the transportation and infrastructure sectors.
• In September 2021, Cemex, an innovative Spanish construction materials company, announced that it had supplied over 10,000 cubic meters of prestressed concrete beams for the construction of a new section of a highway in Poland. The project used Cemex's latest prestressed concrete technology, which is designed to provide high strength and durability while reducing material usage and carbon emissions. This development is expected to strengthen the company's position in the European market and reinforce its commitment to sustainability.

Global Tensioning Systems/Prestressed Concrete Market: Report Scope

Global Tensioning Systems/Prestressed Concrete Market: Regional Analysis

Asia Pacific region anticipated to lead the global market growth

Based on regions, the global tensioning systems/prestressed concrete market is divided into five main regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Asia-Pacific is expected to lead the pre-pressed concrete market, followed by Europe, owing to increased growth in the construction sector in the region. The ASEAN countries are anticipated to increase their budgets for industrial residential, and infrastructural projects in the coming five years. The powerhouse of Asia Pacific is China, despite being the epicenter of the Covid-19 pandemic. China has shown signs of recovery by resuming the construction of key projects. Overall, rapid urbanization and increased government spending, consumer spending, and investments in real estate have set ASEAN economies on track to double in the coming years, boosting the demand for prestressed concrete in the region.

Global Tensioning Systems/Prestressed Concrete Market: Competitive Players

Some of the key players in tensioning systems/prestressed concrete market are:

• L&T Construction
• Skanska
• Taiheiyo Cement Corporation
• HeidelbergCement
• Coltman Precast Concrete Limited
• Coreslab Structures
• CRH plc
• Stresscon Corporation
• Precon Products
• EnCon United
• Kiewit Corporation
• Clark Pacific Corporation
• US Concrete Inc.
• Oldcastle Infrastructure
• Wagners Holding Company Limited
• Molin Concrete Products Company
• Tindall Corporation
• The Prestressed Group
• American Concrete Products
• Among others.

Global Tensioning Systems/Prestressed Concrete Market is segmented as follows:

By Type

• Internal Prestressing
• External Prestressing

By Force Applied

• Electrical
• Mechanical
• Hydraulic

By Application

• Building Structures
• Civil Structures

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa