Rise in renovation and construction activities and government’s spending on infrastructure projects are expected to drive the growth of the India cement market.
According to TechSci Research report, “India Cement Market -By Region, Competition, Forecast & Opportunities, 2028” India cement market is projected to grow at CAGR of 8.98% through 2028 to reach USD 43037.44 million by 2028.The Cement/concrete is the second-most-utilized product in the world after potable water. Based on application, residential is likely to dominate the market due to affordable housing schemes such as the Pradhan Mantri Awas Yojana (PMAY) with the market share of 50.01%. Based on type, India cement market is dominated by Ordinary Portland Cement (OPC) with a market share of 56.76% in 2022.
As estimated, more than 270 million people will be added to India’s urban population by 2040. Even with such rapid urbanization on a massive scale, the proportion of India’s population living in cities is anticipated to be less than 50% by 2040. Urbanization is driving a tremendous rise in total residential floor area, from less than 20 billion square meters today to more than 50 billion square meters in the next two decades.
India’s economy is primarily reliant on the infrastructure sector. India’s total economy depends on this industry. The infrastructure sector includes the construction of motorways, bridges, dams, power plants, and other types of urban infrastructure. The infrastructure industry is now the focus of the Indian government. India plans to invest USD1.4 trillion in infrastructure to safeguard the nation’s long-term prosperity between 2019 to 2023. The government wants to spend USD 750 billion on rail projects between 2018 to 2030.
Browse over 25 market data Figures and 5 Tables spread through 70 Pages and an in-depth TOC on “India Cement Market”
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Key market players in the India cement market include:
- UltraTech Cement Ltd
- Ambuja Cements Ltd
- ACC Limited
- Shree Cement Ltd
- Dalmia Bharat Ltd
- Birla cement
- India Cements Ltd
- The Ramco Cements Limited
- JK Lakshmi Cement Ltd
- Orient Cement Ltd
The companies recognize that the cement industry is a carbon-intensive one. The companies have been substantially working towards less carbon emission. To achieve SDG 13 (the climate change target), they have integrated a low-carbon plan into their business roadmap based on COP21 of the United Nations Framework Convention on Climate Change (UNFCCC). The science-based targets Initiative has certified UltraTech’s GHG emission reduction targets, and the company has linked its business plans with the Paris Agreement’s standards.
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“The India cement market is expected to expand during the projected period. Factors such as mega infrastructural projects, affordable housing schemes such as the Pradhan Mantri Awas Yojana (PMAY), rise in renovation and construction activities drive the demand for the market,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“India Cement Market By Type (Ordinary Portland Cement {OPC}, Portland Pozzolana Cement {PPC}, Others), By Application (Residential, Commercial, Infrastructure, Industrial, Institutional), By Region, Competition, Forecast & Opportunities, 2028”, has evaluated the future growth potential of India cement market and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities present in the India cement market.
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