Prestressed Concrete Steel Strand Market Size, Share Report, Analysis, Trends, Growth 2030

Prestressed Concrete Steel Strand Industry Prospective:

The global prestressed concrete steel strand market size was evaluated at $5.1 billion in 2022 and is slated to hit $10 billion by the end of 2030 with a CAGR of nearly 6.5% between 2023 and 2030.

Request Free Sample

Prestressed Concrete Steel Strand Market: Overview

The prestressed concrete steel brand is a twisted steel cable made up of two, three, seven, and nineteen high-strength steel wires. Moreover, it is stabilized for prestressed concrete. Furthermore, it is classified into smooth steel strand, mold pulling strand, coated epoxy resin steel strand, and scoring strand. For the record, road slabs, bridges, houses, tunnels, arches, and various other structures are constructed by using prestressed concrete steel strands.  

Key Insights

• As per the analysis shared by our research analyst, the global prestressed concrete steel brand market is projected to expand annually at the annual growth rate of around 6.5% over the forecast timespan (2023-2030)
• In terms of revenue, the global prestressed concrete steel brand market size was evaluated at nearly $5.1 billion in 2022 and is expected to reach $10 billion by 2030.
• The global prestressed concrete steel brand market is anticipated to grow rapidly over forecast timeline owing to the growing popularity of prefab construction for structure molding under a regulated environment with a curing process.
• In terms of type, the bare PC strand segment is slated to register the fastest CAGR over the forecast timeframe.
• Based on application, the building segment is predicted to lead the segmental growth in the next eight years.
• Region-wise, the Asia-Pacific prestressed concrete steel industry is projected to register the fastest CAGR during the assessment timeline.

Request Free Sample

Prestressed Concrete Steel Strand Market: Growth Factors

Rise in need of homes in emerging economies to embellish the global market expansion by 2030

Thriving offsite construction activities will prompt the growth of the global prestressed concrete steel strand market. The growing popularity of prefab construction for structure molding under a regulated environment with a curing process will prop up the growth of the market across the globe. A rise in the number of megacities across the globe will boost the expansion of the market globally. A surge in the allocation of funds for infrastructural growth is predicted to pave the way for a sizable elevation of market earnings in the coming decade. An upsurge in the number of real estate projects and an increase in construction activities will proliferate the expansion of the market globally. A huge rise in flyover construction along with the construction of hospitals, shopping malls, clinics, bridges, and other structures will support the expansion of the market across the globe.    

Prestressed Concrete Steel Strand Market: Restraints

Low availability of experts can degrade the expansion of the industry globally over 2023-2030

Lack of access to a skilled workforce and the necessity of high-quality control & inspection can impede the expansion of the global prestressed concrete steel strand industry. Fluctuations in the raw costs due to supply chain disruptions can hinder the growth of the industry across the globe.

Prestressed Concrete Steel Strand Market: Opportunities

Demand for houses with a surging populace can open new growth avenues for the global market

The rise in the urban population requiring strong infrastructure along with a need for houses for the growing population has translated into a huge demand for residential constructions, thereby creating new opportunities for growth for the global prestressed concrete steel strand industry.

Prestressed Concrete Steel Strand Market: Challenges

Stringent legislation enforced over product use in a slew of end-use sectors can create a huge challenge for the global industry 

Strict laws governing the use of products in automotive, buildings & bridges, and water-preserving tanks can impact the demand for products and halt the growth of the prestressed concrete steel strand industry across the globe.

Prestressed Concrete Steel Strand Market: Segmentation

The global global prestressed concrete steel strand market is sectored into type, application, and region.

In type terms, the prestressed concrete steel strand market across the globe is segregated into bare PC strand, wax-filled PC strand, grease-filled PC strand, and others segments. Furthermore, the bare PC strand segment, which led the type space in 2022, is predicted to continue leading the segment even during the forecast timeline. The expansion of the segment during 2023-2030 can be due to a rise in the use of bare PC strands as it helps in reducing environmental damage along with contributing less to carbon as well as VOC emissions in the environment.

Based on the application, the global prestressed concrete steel strand industry is sectored into transport, water conservancy, building, and energy segments. Additionally, the building segment, which acquired a key share of the global industry in 2022, is anticipated to record the fastest CAGR over the next eight years. The segmental expansion over the forecast timeline can be owing to the large-scale use of prestressed concrete steel strands in constructing buildings and bridges. Apart from this, it is also utilized in the construction of stadiums, tunnels, railway sleepers, and roads as well as construction of bridges.

Prestressed Concrete Steel Strand Market: Report Scope

Prestressed Concrete Steel Strand Market: Regional Insights

North America is anticipated to maintain its number one position in the global prestressed concrete steel strand market over the forecast timeline

North America, which contributed about 40% of the global prestressed concrete steel strand market earnings in 2022, will be a leading region over the forecast timespan. Moreover, the regional market expansion over the forecast period can be a result of a prominent surge in the allocation of funds to civil infrastructure activities. In addition to this, an increase in the funding by the government for public infrastructural projects will further steel the expansion of the market in the region. Apart from this, the presence of key players in the sub-continent will further contribute to the expansion of the market in North America over the coming years. Apart from this, a rise in product sales from the U.S. to various developing and underdeveloped economies is likely to boost the economy of the region in the coming decade, thereby embellishing regional market trends.

Asia-Pacific prestressed concrete steel strand industry is set to record the fastest CAGR in the coming eight years. The regional industry expansion over 2023-2030 can be attributed to favorable government policies associated with product use in the construction of buildings and bridges in the region. Additionally, an increase in the population of countries such as China, Malaysia, India, and Japan has translated into huge demand for residential construction, thereby driving the industry growth in the region.   

Prestressed Concrete Steel Strand Market: Competitive Space

The global prestressed concrete steel strand market profiles key players such as:

• Xinhua Metal
• Fapricela
• Insteel
• Hunan Xianghui
• Silvery Dragon
• Strand-tech Martin
• Sumiden
• Shengte
• Siam Industrial Wire
• Tycsa PSC
• Hengli
• Kiswire
• Usha Martin
• Southern PC
• Gulf Steel Strands
• AL-FAISAL STEEL
• Longtai Rare Earth & New Materials
• ASLAK
• Tata Iron and Steel
• Hengxing
• Fasten
• Huaxin
• Tianjin Metallurgical
• Fuxing Keji

The market across the globe is highly fragmented with giant players acquiring a minimal major share of the market in terms of size and revenue.  

The global prestressed concrete steel strand market is segmented as follows:

By Type

• Bare PC Strand
• Wax-Filled PC Strand
• Grease- Filled PC Strand
• Others

By Application

• Transport
• Water Conservancy
•  Building
•  Energy

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