Precast Concrete Manufacturing in Canada - Market Research Report (2014-2029)
New York, United States
Last Updated: August 2024
NAICS 32739CARevenue
$3.2bn
Past 5-Year Growth
Profit
$XXX.Xm
Employees
8,159
Businesses
420
Wages
$XXX.Xm
Precast Concrete Manufacturing in Canada industry analysis
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.
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.
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.
Trends and Insights
- 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 prices.
- Faster construction timelines drive demand for precast concrete in building construction. Off-site manufacturing allows simultaneous site prep and fabrication, ensuring uniform quality and reducing defects.
- Ontario's large population drives considerable demand for precast concrete. Major urban centers like Toronto, Ottawa and Hamilton require extensive construction and infrastructure, boosting opportunities for manufacturers.
- 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 power of suppliers increases, which can affect the cost and quality of precast concrete.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 3.0 % over the past five years, to reach an estimated $3.2bn in 2024.
Trends and Insights
The pandemic led to a decline early in the period due to reduced construction
- Demand for precast concrete is closely tied to the overall health and activity levels within the construction industry, with a particular emphasis on nonresidential construction sectors such as commercial buildings, industrial facilities and infrastructure projects.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Growth in residential and nonresidential construction markets will contribute to industry growth
- Demand for nonresidential construction is anticipated to rise, fueled by expected declines in interest rates. As the Bank of Canada lowers interest rates early in the outlook period, it is projected that businesses will increase their capital expenditures on buildings and structures, thereby driving higher demand for precast concrete products.
Biggest companies in the Precast Concrete Manufacturing in Canada
| Company | Market Share (%)
2024 | Revenue ($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 |
To view the market share and analysis for all 4 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
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.
Trends and Insights
Efficiency and versatility drive demand for precast concrete
- Precast concrete products are favoured for their ability to shorten construction timelines and ensure high-quality standards. Manufacturing in a controlled environment allows for consistent quality and adherence to specifications, which improves the overall reliability of the construction process. This factor notably reduces on-site labour and accelerates project completion.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Ready-Mix Concrete Manufacturing in Canada
- Concrete Pipe & Block Manufacturing in Canada
Complementors
- Concrete Contractors in Canada
- Cement Manufacturing in Canada
International industries
- Precast Concrete Manufacturing in the US
- Concrete Product Manufacturing in Australia
- Concrete Construction Product Manufacturing in the UK
- Concrete Construction Product Manufacturing in Ireland
- Cement Product Manufacturing in China
Table of Contents
About this industry
Industry definition
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.
What's included in this industry?
Precast concrete manufacturingPrestressed concrete manufacturingCompanies
CRH PLCBeton ProvincialCastle Precast Ltd.Purchase this report to view all 4 major companies in this industry.
Related Terms
PRECAST CONCRETEPRESTRESSED CONCRETECONCRETE BEAMCONCRETE TRUSSESCONCRETE CULVERTSIndustry Code
NAICS 327390 - Precast Concrete Manufacturing in Canada
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
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...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Faster construction timelines drive demand for precast concrete in building construction. Off-site manufacturing allows simultaneous site prep and fabrication, ensuring unifo...
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2024
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Ontario's large population drives considerable demand for precast concrete. Major urban centers like Toronto, Ottawa and Hamilton require extensive construction and infrastru...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each province
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each province in 2024
- Number and share of revenue each province accounts for in 2024
- Number and share of wages each province accounts for in 2024
- Number and share of employees in each province in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
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.
Analyst insights
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...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
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...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of CRH PLC's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Beton Provincial's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Castle Precast Ltd.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of revenue, market share and profit margin trend for one additional company
Detailed analysis
- Description and key data for CRH PLC, and factors influencing its performance in the industry
- Description and key data for Beton Provincial, and factors influencing its performance in the industry
- Description and key data for Castle Precast Ltd., and factors influencing its performance in the industry
- Description, key data and performance trends for one additional company
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
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...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
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 ...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Assets (2017-2022)
- Liabilities (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in Canada include:
- Statistics Canada
- Industry Canada
- Canadian Business Patterns
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Precast Concrete Manufacturing industry in Canada in 2024?
The market size of the Precast Concrete Manufacturing industry in Canada is $3.2bn in 2024.
How many businesses are there in the Precast Concrete Manufacturing in Canada industry 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.
Has the Precast Concrete Manufacturing industry in Canada grown or declined over the past 5 years?
The market size of the Precast Concrete Manufacturing industry in Canada has been growing at a CAGR of 3.0 % between 2019 and 2024.
What is the forecast growth of the Precast Concrete Manufacturing industry in Canada over the next 5 years?
Over the next five years, the Precast Concrete Manufacturing industry in Canada is expected to grow.
What are the biggest companies in the Precast Concrete Manufacturing market in Canada?
The biggest companies operating in the Precast Concrete Manufacturing market in Canada are CRH PLC, Beton Provincial and Castle Precast Ltd.
What does the Precast Concrete Manufacturing in Canada include?
Precast concrete manufacturing and Prestressed concrete manufacturing are part of the Precast Concrete Manufacturing industry.
Which companies have the highest market share in the Precast Concrete Manufacturing in Canada?
The company holding the most market share in Canada is CRH PLC.
How competitive is the Precast Concrete Manufacturing industry in Canada?
The level of competition is high and steady in the Precast Concrete Manufacturing industry in Canada.
