The Chile precast construction market size is expected to reach $492.1 million in 2027, from $323.0 million in 2019, growing at a CAGR of 6.9% from 2020 to 2027. Precast construction, also known as prefabricated construction or off-site construction involves casting of building or infrastructural elements in another location. The casted member is then transported and fixed securely to form a monolithic structure. The separate building parts are usually joined using bolts or by pouring concrete in the connection gaps. Around 60% to 90% construction activities are conducted off-site in precast construction. Further, precast construction can be classified into two main types namely, modular construction and manufactured homes. Modular construction mainly includes casting of separate building parts in factory environment, whereas manufactured homes include complete construction of homes which are transported on their own frame or chassis to the desired location.
Precast construction is often carried out in enclosed and controlled environments which helps in maintaining the quality of construction. In addition, precast construction includes use of high strength concrete which improves the seismic resistance of the structure. Chile lies on the tectonic plate boundary and the subduction zone, where the ocean crust slides under the continent land causing compressional deformation, known as the Peru-Chile trench. This makes the country prone to earthquakes. The most severe earthquake measured in human history with a magnitude of 9.5 occurred in Chile in 1960 following with occurrence of seismic activities at average intervals of 25 to 100 years apart. Such earthquakes cause major damage to the public and private infrastructure and often cause fatalities due to failure of buildings. The use of precast construction with enhanced seismic design can assist in overcoming the damage caused to human life and property. This drives the growth of the Chile precast construction market. Furthermore, increasing investment on infrastructural projects in pipeline also drives the demand for the precast construction practices in Chile. Since 1993, a total of 98 contracts have been awarded through public private partnership (PPP) with value of more than $25.05 billion. Further, Chile has 24 finalized projects and 74 ongoing projects within which the Chilean Ministry of Public Works (MOP) has announced its plans of tendering $3 billion in contracts on average per year in 2020 to 2024. According to the Modular Building Institute based in the U.S., use of precast construction can reduce construction time by 30% to 50%, when compared to the traditional practices. This also includes use of high-quality construction materials and safe construction practices which helps in sustaining the quality of construction. This further drives the demand of precast construction in Chile which in turn boosts the growth of the Chile precast construction market.
However, the unstable socio-economic condition is likely to hamper the growth of the Chilean economy. The social unrest and inequality in living standards of population has disrupted the economic growth in Chile during recent years. According to the World Bank, the social unrest has resulted in decline in the GDP from 3.9% in 2018 to 1.1% in 2019. In addition, the country is also facing high inequality of opportunities to the growing middle class owing to segmented service provision in healthcare, education, and segregated labor market. Such factors restrain the growth of the Chile precast construction industry.
On the contrary, the use of technologies such as digital tools in planning and designing of precast components is likely to create lucrative opportunities for the growth of the Chile precast construction market. In addition, use of new concrete technologies such as ultra-high-performance concrete, light weight concrete, fiber reinforced concrete, and others improve the quality of precast construction. This can also surge the demand for precast construction in Chile during the forecast period.
The Chile precast construction market is segmented on the basis of product, construction type, and end-user industry. Based on product, the Chile precast construction market is fragmented into columns & beams, floors & roofs, walls, staircases, girders, paving slabs, and others. By construction type, the market is classified into modular and manufactured homes. According to end-user industry, the Chile precast construction market is categorized into residential and non-residential.
COMPETITION ANALYSIS
The Key market Players profiled in the report include Ecomundo, Hormipret, Pacadar SAU, Prefabrik Yapı A.Ş, Prefast SpA, Ramaq Chile, Tecno Fast, Tensacon, Tensocret, and Vollert Anlagenbau GmbH.
Many competitors in the Chile precast construction market adopted business expansion as their key developmental strategy to expand their geographical foothold and upgrade their product technologies. For instance, in October 2019, the Chile based company E2E, which is a joint venture between Celulosa Arauco y Constitución based in Chile and Belgian company Etex, inaugurated its first manufacturing unit for wooden buildings and prefabricated housing. The company started business in Chile in February 2019 and has developed two 4-storey buildings and four hundred 2-storey houses in Chile and Casablanca respectively.
Key Benefits for Stakeholders
CHILE PRECAST CONSTRUCTION MARKET SEGMENTS
By PRODUCT
By CONSTRUCTION TYPE
By END-USER INDUSTRY
KEY PLAYERS
Precast construction is often carried out in enclosed and controlled environments which helps in maintaining the quality of construction. In addition, precast construction includes use of high strength concrete which improves the seismic resistance of the structure. Chile lies on the tectonic plate boundary and the subduction zone, where the ocean crust slides under the continent land causing compressional deformation, known as the Peru-Chile trench. This makes the country prone to earthquakes. The most severe earthquake measured in human history with a magnitude of 9.5 occurred in Chile in 1960 following with occurrence of seismic activities at average intervals of 25 to 100 years apart. Such earthquakes cause major damage to the public and private infrastructure and often cause fatalities due to failure of buildings. The use of precast construction with enhanced seismic design can assist in overcoming the damage caused to human life and property. This drives the growth of the Chile precast construction market. Furthermore, increasing investment on infrastructural projects in pipeline also drives the demand for the precast construction practices in Chile. Since 1993, a total of 98 contracts have been awarded through public private partnership (PPP) with value of more than $25.05 billion. Further, Chile has 24 finalized projects and 74 ongoing projects within which the Chilean Ministry of Public Works (MOP) has announced its plans of tendering $3 billion in contracts on average per year in 2020 to 2024. According to the Modular Building Institute based in the U.S., use of precast construction can reduce construction time by 30% to 50%, when compared to the traditional practices. This also includes use of high-quality construction materials and safe construction practices which helps in sustaining the quality of construction. This further drives the demand of precast construction in Chile which in turn boosts the growth of the Chile precast construction market.
However, the unstable socio-economic condition is likely to hamper the growth of the Chilean economy. The social unrest and inequality in living standards of population has disrupted the economic growth in Chile during recent years. According to the World Bank, the social unrest has resulted in decline in the GDP from 3.9% in 2018 to 1.1% in 2019. In addition, the country is also facing high inequality of opportunities to the growing middle class owing to segmented service provision in healthcare, education, and segregated labor market. Such factors restrain the growth of the Chile precast construction industry.
On the contrary, the use of technologies such as digital tools in planning and designing of precast components is likely to create lucrative opportunities for the growth of the Chile precast construction market. In addition, use of new concrete technologies such as ultra-high-performance concrete, light weight concrete, fiber reinforced concrete, and others improve the quality of precast construction. This can also surge the demand for precast construction in Chile during the forecast period.
The Chile precast construction market is segmented on the basis of product, construction type, and end-user industry. Based on product, the Chile precast construction market is fragmented into columns & beams, floors & roofs, walls, staircases, girders, paving slabs, and others. By construction type, the market is classified into modular and manufactured homes. According to end-user industry, the Chile precast construction market is categorized into residential and non-residential.
COMPETITION ANALYSIS
The Key market Players profiled in the report include Ecomundo, Hormipret, Pacadar SAU, Prefabrik Yapı A.Ş, Prefast SpA, Ramaq Chile, Tecno Fast, Tensacon, Tensocret, and Vollert Anlagenbau GmbH.
Many competitors in the Chile precast construction market adopted business expansion as their key developmental strategy to expand their geographical foothold and upgrade their product technologies. For instance, in October 2019, the Chile based company E2E, which is a joint venture between Celulosa Arauco y Constitución based in Chile and Belgian company Etex, inaugurated its first manufacturing unit for wooden buildings and prefabricated housing. The company started business in Chile in February 2019 and has developed two 4-storey buildings and four hundred 2-storey houses in Chile and Casablanca respectively.
Key Benefits for Stakeholders
- The report provides an extensive analysis of the current and emerging Chile precast construction market trends and dynamics.
- In-depth analysis of the market is conducted by constructing market estimations for the key market segments between 2019 and 2027.
- Extensive analysis of the market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
- A comprehensive Chile precast construction market opportunity analysis of all the countries is also provided in the report.
- The Chile precast construction market forecast analysis from 2020 to 2027 is included in the report.
- The key players within the market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the industry.
CHILE PRECAST CONSTRUCTION MARKET SEGMENTS
By PRODUCT
- Columns & Beams
- Floors & roofs
- Walls
- Staircases
- Girders
- Paving slabs
- Others
By CONSTRUCTION TYPE
- Modular construction
- Manufactured homes
By END-USER INDUSTRY
- Residential
- Non-residential
KEY PLAYERS
- Ecomundo
- Hormipret
- Pacadar SAU
- Prefabrik Yapı A.Ş
- Prefast SpA
- Ramaq Chile
- Tecno Fast
- Tensacon
- Tensocret
- Vollert Anlagenbau GmbH
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: CHILE PRECAST CONSTRUCTION MARKET, BY PRODUCT TYPE
CHAPTER 5: CHILE PRECAST CONSTRUCTION MARKET, BY CONSTRUCTION TYPE
CHAPTER 6: CHILE PRECAST CONSTRUCTION MARKET, BY END-USER INDUSTRY
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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