Precast concrete products will continue to compete with poured-in-place concrete – throughout the forecast period and beyond – due to the latter’s lower cost and familiarity among building contractors.

Precast concrete products are increasingly specified during the construction of a variety of commercial structures (including high-rise offices, hotels, and industrial buildings) because of their durability and uniformity.

Gains in precast concrete product demand will be fueled by increased specification of precast concrete products over site-poured concrete and steel in many applications.

In 2021, pandemic-driven supply chain disruptions and other factors led to a sharp increase in average prices for ceiling products, boosting value demand growth in that year.

Rising improvement spending on retail buildings, the second largest ceiling market, will also be a significant driver of gains.

As the largest consumer of off-road equipment by far, China will continue to have an outsize impact on the global market for off-road equipment.

High production costs and labor shortages mean that advanced off-road equipment is typically most cost effective in high-income countries such as Australia, Canada, Germany, and the US.

Global demand for forestry drones is the smallest among drone types but growing the fastest. This market is projected to be four times larger in 2026 than it was in 2021.

The food market alone is expected to account for nearly one-third of global packaging machinery gains as industry output grows and manufacturers invest in new production and packaging capacity.

Global Packaging Machinery is now available from The Freedonia Group. This study provides historical data for 2011, 2016, and 2021, and forecasts for 2026 and 2031.