$3.2bn
$XXX.Xm
8,159
420
$XXX.Xm
The precast concrete industry has experienced significant fluctuations due to the pandemic and varying economic conditions. Initially, the uncertainty brought on by the pandemic led to a decline in construction activity as businesses delayed or cancelled new projects, impacting the demand for precast concrete, particularly in nonresidential sectors like commercial and industrial facilities. However, as restrictions eased, a rebound occurred in 2021. This was fueled by pent-up demand and a rush to complete postponed projects, although the industry also faced rising costs due to increasing global energy prices.<br />In recent times, economic slowdowns and anticipated sluggish GDP growth in 2023, expected to continue into 2024, have begun to negatively impact the construction sector once more. The industry is projected to decline 1.8% in 2024, primarily due to reduced demand, reflecting ongoing caution in both the public and private sectors regarding new construction projects. Despite this recent slowdown, the industry has shown growth, with an estimated CAGR of 3.0%, reaching $3.2 billion in 2024 and seeing an increase in profitability.<br />Growth in both residential and nonresidential construction markets is expected to boost industry growth, driven by anticipated declines in interest and mortgage rates that will lead to increased capital expenditures by businesses and a rise in residential construction. The Bank of Canada's rate cuts will spur demand for precast concrete products. Additionally, government investments through the Investing in Canada Infrastructure Program will maintain consistent demand for concrete in various public projects. New technology, including automated production systems and low-carbon concrete mixes, will enhance efficiency and reduce the environmental impact of the industry. Overall, the industry is expected to grow at a CAGR of 2.1%, reaching $3.6 billion by 2029.
Industry revenue has grown at a CAGR of 3.0 % over the past five years, to reach an estimated $3.2bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
CRH PLC | 132.2 | N/A | N/A | |
Beton Provincial | 119.3 | N/A | N/A | |
Castle Precast Ltd. | 87.1 | N/A | N/A |
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Precast Concrete Manufacturing in Canada
Industry revenue is measured across several distinct product and services lines, including Precast concrete products, Prestressed concrete products and Other concrete products. Precast concrete products is the largest segment of the Precast Concrete Manufacturing in Canada.
Efficiency and versatility drive demand for precast concrete
Operators in the Precast Concrete Manufacturing industry in Canada manufacture precast and prestressed concrete products for use in various construction markets. Industry products include precast concrete slabs and panels, building boards, roofing tiles, railroad ties, posts and poles, in addition to prestressed bridge beams and trusses. The production of concrete blocks, bricks and pipes are excluded from this industry.
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NAICS 327390 - Precast Concrete Manufacturing in Canada
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
The pandemic led to reduced construction and a drop in precast concrete demand. A surge in activity occurred post-pandemic as projects resumed, driving up both demand and pri...
Learn about an industry's products and services, markets and trends in international trade.
Faster construction timelines drive demand for precast concrete in building construction. Off-site manufacturing allows simultaneous site prep and fabrication, ensuring unifo...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Ontario's large population drives considerable demand for precast concrete. Major urban centers like Toronto, Ottawa and Hamilton require extensive construction and infrastru...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
The industry relies on raw materials such as cement, aggregates and other construction materials. If suppliers are limited or if raw materials are scarce, the bargaining powe...
Learn about the performance of the top companies in the industry.
CRH's revenues in the precast and construction accessories segment decreased in Q1 2024. The YoY decline was driven by adverse weather conditions and muted new-build resident...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
The overall state of the economy has a significant impact on the construction sector and, by extension, the precast concrete manufacturing industry. Economic downturns can le...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
The industry has a lower capital requirement as compared to the broader cement and concrete industry's level of capital intensity. However, capital intensity in the industry ...
Including values and annual change:
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Key data sources in Canada include:
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These sources include:
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The market size of the Precast Concrete Manufacturing industry in Canada is $3.2bn in 2024.
There are 420 businesses in the Precast Concrete Manufacturing industry in Canada, which has declined at a CAGR of 0.4 % between 2019 and 2024.
The market size of the Precast Concrete Manufacturing industry in Canada has been growing at a CAGR of 3.0 % between 2019 and 2024.
Over the next five years, the Precast Concrete Manufacturing industry in Canada is expected to grow.
The biggest companies operating in the Precast Concrete Manufacturing market in Canada are CRH PLC, Beton Provincial and Castle Precast Ltd.
Precast concrete manufacturing and Prestressed concrete manufacturing are part of the Precast Concrete Manufacturing industry.
The company holding the most market share in Canada is CRH PLC.
The level of competition is high and steady in the Precast Concrete Manufacturing industry in Canada.