Market Size of india ready mix concrete Industry
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Study Period | 2018 - 2030 |
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Market Volume (2024) | 248.76 Million Cubic meters |
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Market Volume (2030) | 373.26 Million Cubic meters |
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Largest Share by End Use Sector | Commercial |
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CAGR (2024 - 2030) | 7.00 % |
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Fastest Growing by End Use Sector | Commercial |
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Market Concentration | Low |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
India Ready Mix Concrete Market Analysis
The India Ready Mix Concrete Market size is estimated at 248.76 million Cubic meters in 2024, and is expected to reach 373.26 million Cubic meters by 2030, growing at a CAGR of 7.00% during the forecast period (2024-2030).
248.76 Million
Market Size in 2024 (Cubic meters)
373.26 Million
Market Size in 2030 (Cubic meters)
2.47 %
CAGR (2018-2023)
7.00 %
CAGR (2024-2030)
Largest Market by Product
70.98 %
volume share, Transit Mixed, 2023
Owing to the strict timelines of construction projects and the use of affordable concrete in the country's construction industry, transit mix has dominated the market.
Fastest Market by Product
7.58 %
Projected CAGR, Shrink Mixed, 2024-2030
Due to optimum operation efficiency and increased delivery capacity, the usage of shrink mix is increasing in the country's infrastructure and commercial sector and is expected to continue its growth in the coming years.
Largest Market by End Use Sector
30.74 %
volume share, Commercial, 2023
Due to rapid urbanization, rising foreign direct investments (FDI), and Grade A office markets, coupled with increasing usage of ready-mix concrete in major commercial building projects, the commercial sector holds the largest share.
Fastest Market by End Use Sector
8.19 %
Projected CAGR, Commercial, 2024-2030
Growing investments in construction for IT Hubs, coupled with increasing consumption of ready-mix concrete for malls, offices, etc., are expected to drive the demand in the sector during the forecast period.
Leading Company
2.52 %
market share, UltraTech Cement Ltd., 2022
UltraTech Cement Ltd. has dominated the market with its largest ready-mix concrete production capacity in the country, around 14.1 million cubic meters per annum. It has nearly 150 ready-mix concrete plants spread across the country.
High investments through FDIs and government schemes in India's construction sector are predicted to augment the demand for ready-mix concrete
- India's ready-mix concrete market, which caters to diverse projects like housing, infrastructure, and commercial buildings, held a 6.24% share of the market in Asia-Pacific in 2022. The market was poised for growth, with a projected increase of 6.93 million cubic meters in 2023, bolstered by government initiatives aimed at bolstering the nation's construction sector.
- In 2022, infrastructure construction was the dominant driver of India's ready-mix concrete market, accounting for a significant 72.6 million cubic meters. This surge can be attributed to heightened foreign direct investments, particularly in bolstering the nation's transportation networks, including roads, highways, and airports. Infrastructure spending was expected to rise by USD 3.9 billion in 2023, further fueling the demand for ready-mix concrete.
- Projections indicate that the commercial construction segment will witness a CAGR of 6.86% in volume during the forecast period. This is in line with estimates that India's new commercial floor space will expand by 396 million square feet by 2030, a significant jump from 2022. This uptick in commercial construction will inevitably drive up the demand for ready-mix concrete.
- Notably, industrial construction is anticipated to experience the second-highest CAGR of 7.13% in volume during the forecast period. India is positioning itself as a global manufacturing hub, particularly for electronics and automobiles, by 2030. This vision is bolstered by investments from industry giants such as Amazon and Tesla, alongside government incentives. These factors are propelling the construction of manufacturing units, thereby driving the demand for ready-mix concrete.
Understand The Key Trends Shaping This Market
India Ready Mix Concrete Industry Segmentation
Commercial, Industrial and Institutional, Infrastructure, Residential are covered as segments by End Use Sector. Central Mixed, Shrink Mixed, Transit Mixed are covered as segments by Product.
- India's ready-mix concrete market, which caters to diverse projects like housing, infrastructure, and commercial buildings, held a 6.24% share of the market in Asia-Pacific in 2022. The market was poised for growth, with a projected increase of 6.93 million cubic meters in 2023, bolstered by government initiatives aimed at bolstering the nation's construction sector.
- In 2022, infrastructure construction was the dominant driver of India's ready-mix concrete market, accounting for a significant 72.6 million cubic meters. This surge can be attributed to heightened foreign direct investments, particularly in bolstering the nation's transportation networks, including roads, highways, and airports. Infrastructure spending was expected to rise by USD 3.9 billion in 2023, further fueling the demand for ready-mix concrete.
- Projections indicate that the commercial construction segment will witness a CAGR of 6.86% in volume during the forecast period. This is in line with estimates that India's new commercial floor space will expand by 396 million square feet by 2030, a significant jump from 2022. This uptick in commercial construction will inevitably drive up the demand for ready-mix concrete.
- Notably, industrial construction is anticipated to experience the second-highest CAGR of 7.13% in volume during the forecast period. India is positioning itself as a global manufacturing hub, particularly for electronics and automobiles, by 2030. This vision is bolstered by investments from industry giants such as Amazon and Tesla, alongside government incentives. These factors are propelling the construction of manufacturing units, thereby driving the demand for ready-mix concrete.
| End Use Sector | |
| Commercial | |
| Industrial and Institutional | |
| Infrastructure | |
| Residential |
| Product | |
| Central Mixed | |
| Shrink Mixed | |
| Transit Mixed |
Need A Different Region Or Segment?
India Ready Mix Concrete Market Size Summary
The India Ready Mix Concrete Market is experiencing significant growth, driven by the country's expanding infrastructure, commercial, and industrial construction sectors. The market is poised to benefit from government initiatives aimed at enhancing the construction industry, with infrastructure projects such as roads, highways, and airports leading the demand. The commercial construction segment is also expected to see substantial growth, fueled by the expansion of new commercial floor space and increased foreign direct investments. Additionally, India's ambition to become a global manufacturing hub, particularly in electronics and automobiles, is propelling the construction of manufacturing units, further boosting the demand for ready-mix concrete.
The residential sector in India is also on an upward trajectory, with a notable increase in housing demand, particularly in major cities. This demand is supported by favorable government policies and increased investments, which are expected to drive the expansion of residential floor area. The market is characterized by fragmentation, with major players like Adani Group, Nuvoco Vistas Corp Ltd., Prism Johnson Limited, RDC Concrete (India) Pvt Ltd, and UltraTech Cement Ltd. actively expanding their operations to capture a larger market share. Recent developments include the launch of new ready-mix concrete plants and capacity expansions by key companies, indicating a robust growth outlook for the market.
India Ready Mix Concrete Market Size - Table of Contents
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1. MARKET SEGMENTATION (includes market size, forecasts up to 2030 and analysis of growth prospects.)
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1.1 End Use Sector
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1.1.1 Commercial
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1.1.2 Industrial and Institutional
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1.1.3 Infrastructure
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1.1.4 Residential
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1.2 Product
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1.2.1 Central Mixed
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1.2.2 Shrink Mixed
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1.2.3 Transit Mixed
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India Ready Mix Concrete Market Size FAQs
What is the current India Ready Mix Concrete Market size?
The India Ready Mix Concrete Market is projected to register a CAGR of 7.00% during the forecast period (2024-2030).
Who are the key players in India Ready Mix Concrete Market?
Adani Group, Nuvoco Vistas Corp Ltd., Prism Johnson Limited, RDC Concrete (India) Pvt Ltd and UltraTech Cement Ltd. are the major companies operating in the India Ready Mix Concrete Market.
