There, a crane takes over the assembly and moves the precast elements to the right place. When prefabricated parts are used, building components are prebuilt to the millimeter in factories and then transported just in time to the construction site. Prefabrication offers fixed prices, on-time delivery, and precision Why industrialized construction in particular is growing faster than the rest of the construction industry can be explained by the numerous advantages of this technology. However, the average growth rate of the construction industry as a whole is expected to be just 3.2% annually according to the Global Construction Report. In 2020, the precast concrete market was valued at around USD 92.14 billion and is anticipated to grow to over USD 139.33 billion in 2028. Experts from the construction industry predict a bright future for precast elements: the average annual growth rate of the global precast concrete industry is expected to be 5.3% between 20.
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