The global market for truck mounted concrete pumps is highly consolidated, find a new research study by Transparency Market Research (TMR). In 2016, the top six players, namely, Sany Group & Putzmeister, SCHWING, XCMG, Zoomlion Heavy Machinery Co. Ltd., Concord Concrete Pumps, and LIEBHERR, accounted for nearly 95% of the overall market.
The rivalry is intense between the leading manufacturers of truck mounted concrete pumps. These companies are adopting aggressive pricing strategies and are involving in strategic mergers and acquisitions for the geographical expansion of their businesses in established markets, which is likely to increase the competition within this market over the next few years, states the research report.
As per the research report, the worldwide truck mounted concrete pump market was worth US$2.79 bn in 2016. Researchers expect the opportunity in this market to increasing at a CAGR of 5.80% during the period from 2017 to 2025 and reach US$4.64 bn by the end of the forecast period. The demand for these pumps is significantly high in the residential sector. Thanks to the increasing construction activities and the rising number of new townships projects, this segment is likely to remain leading end user of truck mounted concrete pumps, notes the study.
Truck Mounted Mobile Pumps to Surface as Most Valued Product
The research report further offers exhaustive analyses of the global market for truck mounted concrete pumps on the basis of various parameters. On the basis of the type of product, this market has been classified into mobile pumps, static pumps, and truck mixer concrete pumps in this study. Among these, truck mounted mobile pumps is enjoying a higher demand than other and are anticipated to remain doing so during the forecast period. Mobile pumps find a widespread deployment in small to big construction projects and is projected to rise at a significant CGAR of more than 6% between 2017 and 2025.
Geographically, Latin America, the Middle East and Africa, Europe, Asia Pacific, and North America have been considered as the key segments of the worldwide truck mounted concrete pump market in the research report. In 2016, Asia Pacific emerged as the leading regional market for truck mounted concrete pumps among all with a share of more than 55%. Researchers project this regional market to remain on the top over the forecast period on the grounds of the rise in building and construction activities and the increasing number of new commercial and industrial projects, notes the market study.
Rising Trend of Urbanization and Industrialization to Fuel Demand
“With the rising trend of urbanization, the infrastructural developments have increased substantially across the world, leading to a significant upsurge in the construction industry. The ever-increasing population, especially in emerging regions, is another prominent factor behind the rise in the construction activities. This rise, as a result, is reflecting greatly on the demand for truck mounted concrete pumps across the world.
The market, over the forthcoming years, looks thriving with a swift rise in the industrialization, worldwide. However, the increasing dependence of construction activities on political and economic factors may deter the market from growing steadily over the forecast period, states the research study.
The study presented here is based on a report by Transparency Market Research (TMR), titled “Truck Mounted Concrete Pump Market (Product - Truck Mounted Mobile Pump, Truck Mounted Static Pump and Truck Mixer Concrete Pump; End-use Sector - Industrial, Residential, and Commercial) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025.”
The global truck mounted concrete pump market has been segmented as follows:
By Product Type
- Truck Mounted Mobile Pump
- Truck Mounted Static Pump
- Truck Mixer Concrete Pump
By End-use Sector
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa (MEA)
- South Africa
- Rest of MEA