India cement market was valued at USD26023.83 million in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 8.98%, owing to rapidly increasing mega infrastructural projects, a rise in renovation and construction activities.
A cement is a binder, a substance used for construction that sets, hardens, and adheres to other materials to bind them together. Cement/concrete is the second-most-utilized product in the world after potable water. Cement used in construction is typically inorganic, based on lime or calcium silicate, and is classified as either non-hydraulic or hydraulic, depending on its capacity to set in the water.
Mega Infrastructural Projects Driving Market Growth
The economy of India relies heavily on the infrastructure industry. This sector is essential to India’s overall growth, and the government has placed a high priority on enacting regulations that would ensure the country’s building of world-class infrastructure promptly. Power, bridges, dams, highways, and urban infrastructure development are part of the infrastructure industry. Download FREE Sample Report @ https://www.techsciresearch.com/sample-report.aspx?cid=4110 The government of India has turned its attention to the infrastructure sector. India intends to invest USD1.4 trillion in infrastructure between 2019 and 2023 to ensure the country’s long-term prosperity. From 2018 to 2030, the government proposes investing USD 750 billion in railway infrastructure.
Rapid Urbanization Driving India Cement Market
An estimated 270 million people will be added to India’s urban population between now and 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. Most of the structures that will exist in India in 2040 have yet to be constructed. 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. As a result, demand for energy-intensive building materials is expected to skyrocket. Steel demand doubles to 2040 in the STEPS, while cement consumption roughly triples.
Affordable Housing Schemes (Pradhan Mantri Awas Yojana) Driving Market
The Pradhan Mantri Awas Yojana (PMAY), launched in 2015, is a massive scheme promoting affordable housing in India. The principal goal of this program is to offer 20 million affordable housing units to people from low-income families by 2022. This program covers urban (PMAY-Urban) and rural (PMAY-Gramin) India, aiming to build dwellings with adequate sanitation, water, and power. While the former covers nearly 4000 cities and towns across India, the latter focuses on slums, villages, and other rural areas. Furthermore, the government has consistently attempted to promote the affordable housing segment through many welcome measures, such as the Pradhan Mantri Awas Yojana’s a credit-linked subsidy scheme (PMAY).
The Growing Population
After China, India is the world’s second most populated country. India’s population has recently surpassed one billion. According to the 2001 Indian Census, India has a population of 4 billion. On March 1, 2001, India had a population of 1027 million. The population-housing relationship is a two-way street. Moreover, population shifts result in shifting housing demand. Housing demand rises with population increase, particularly as the number of households rises. In the long run, population loss may lead to a fall in housing demand. However, the availability of housing impacts the chances for population growth through immigration and the formation of new households.
Market Segmentation
The India cement market is segmented based on type, application, region, and company. Based on type, the market is further fragmented into Ordinary Portland Cement (OPC), Portland Pozzolana Cement (PPC), Others. Also, segmentation of the market on grounds of the application is done into residential, commercial, infrastructure, industrial and institutional. Based on regional analysis the market is divided into North, South, East, and West.
Company Profiles
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 and Orient Cement Ltd, are among the major market players that lead the market growth of the India cement market.
AttributeDetailsMarket size value in 2022USD26023.83 MillionRevenue Forecast in 2028USD43037.44 MillionGrowth Rate8.98%Base Year2022Historical Years2018 – 2021Estimated Year2023Forecast Period2024 – 2028Quantitative UnitsRevenue in USD Million, Volume (Million Tons) and CAGR for 2018-2022 and 2023-2028Report CoverageRevenue forecast, company share, competitive landscape, growth factors, and trendsSegments Covered· Type· ApplicationRegional ScopeNorth; South; East; WestKey Companies ProfiledUltraTech Cement Ltd, Ambuja Cements Ltd, ACC Limited, Shree Cement Ltd, Dalmia Bharat Ltd, The Ramco Cements Limited, JK Lakshmi Cement Ltd, Heidelberg Cement India LimitedCustomization Scope10% free report customization with purchase. Addition or alteration to country, regional & segment scope.Pricing and Purchase OptionsAvail customized purchase options to meet your exact research needs. Explore purchase optionsDelivery FormatPDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request) |
Report Scope:
In this report, India cement market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- India Cement Market Outlook
6.1. Market Size & Forecast6.1.1. By Value & Volume6.2. Market Share & Forecast6.2.1. By Type (Ordinary Portland Cement (OPC), Portland Pozzolana Cement (PPC), Others)6.2.2. By Application (Residential, Commercial, Infrastructure, Industrial, Institutional)6.2.3. By Region6.2.4. By Company (2022)6.3. Product Market Map
- West India Cement Market Outlook
7.1. Market Size & Forecast7.1.1. By Value & Volume7.2. Market Share & Forecast7.2.1. By Type (Ordinary Portland Cement (OPC), Portland Pozzolana Cement (PPC), Others)7.2.2. By Application (Residential, Commercial, Infrastructure, Industrial, Institutional)7.2.3. By Top 3 States
- South India Cement Market Outlook
8.1. Market Size & Forecast8.1.1. By Value & Volume8.2. Market Share & Forecast8.2.1. By Type (Ordinary Portland Cement (OPC), Portland Pozzolana Cement (PPC), Others)8.2.2. By Application (Residential, Commercial, Infrastructure, Industrial, Institutional)8.2.3. By Top 3 States
- North India Cement Market Outlook
9.1. Market Size & Forecast9.1.1. By Value & Volume9.2. Market Share & Forecast9.2.1. By Type (Ordinary Portland Cement (OPC), Portland Pozzolana Cement (PPC), Others)9.2.2. By Application (Residential, Commercial, Infrastructure, Industrial, Institutional)9.2.3. By Top 3 States
- East India Cement Market Outlook
10.1. Market Size & Forecast10.1.1. By Value & Volume10.2. Market Share & Forecast10.2.1. By Type (Ordinary Portland Cement (OPC), Portland Pozzolana Cement (PPC), Others)10.2.2. By Application (Residential, Commercial, Infrastructure, Industrial, Institutional)10.2.3. By Top 3 States
- Market Dynamics
11.1. Drivers11.2. Challenges
- Market Trends and DevelopmentsPolicy & Regulatory LandscapeCompetitive Landscape
14.1. UltraTech Cement Ltd14.2. Ambuja Cements Ltd14.3. ACC Limited14.4. Shree Cement Ltd14.5. Dalmia Bharat Ltd14.6. Birla Cement14.7. India Cements Ltd14.8. The Ramco Cements Limited14.9. JK Lakshmi Cement Ltd14.10. Orient Cement Ltd
- Strategic Recommendations