The Middle East and North Africa (MENA) truck-mounted concrete pump market has been researched to be heavily dominated by top three companies, i.e. The Liebherr Group, Schwing, and Putzmeister, which could account for almost 55.0% of the total share. South Korean, Chinese, and European vendors could be relying on acquisition tactics and hot pricing strategies to proliferate their presence in established markets. The market may look quite attractive for new entrants due to the boom in the construction and building sectors. However, established players boasting of their sturdy brand equity and expensive startup cost have been expected to intensify the competition and tax the entry of new players.
According to the research analysts at Transparency Market Research (TMR), the MENA truck-mounted concrete pump market has been studied to reach a US$253.4 mn by 2024 in the ballpark. Growing at a 5.8% CAGR, the market had managed to rake in a US$161.0 mn in 2016. Finding application in residential and commercial projects, truck-mounted mobile concrete pumps could register a colossal share of over US$134.0 mn by the end of the forecast period. The U.A.E. has been analyzed to dominate the market with a more than 32.0% share, followed by Qatar and Egypt.
MEA Regions Fancying Heaven-kissing Building Projects Amplify Demand
In 2015, Schwing Stetter’s equipment were used in the construction of the world’s to-be tallest building, Jeddah Tower, in Saudi Arabia. The analysts have prognosticated the augmented construction growth, owing to the high demand for industrial, commercial, and mass housing projects, to lay a strong foundation for the MENA truck-mounted concrete pump market. In order to allow more efficiency in the construction sector, Sany Group raised the curtain from its C8 Series in 2016. With construction projects demanding improved concrete pumping quality and productivity, the need for truck-mounted concrete pumps has been forecasted to rise substantially.
The surging construction of beam fields, high-speed rail sites, seaports, airports, and tunnels in the MEA regions could hold a unwavering potential to propel the MENA truck-mounted concrete pump market to a new high. Likewise, the swelling interest for development projects, skyscrapers, and multistory buildings is foreseen to fortify the demand for truck-mounted concrete pumps.
Truck-mounted concrete pumps are capable of precisely and accurately transferring concrete to the desired locations both vertically and horizontally. Besides this, they could help in controlling the function of robotic arms through remote control. All of these aspects are foretold to invigorate the growth of the MENA truck-mounted concrete pump market.
Safety Concerns and Turbulent Nature of Oil Prices Raise Eyebrows
There are two encumbrances anticipated by the researchers which could ask the MENA truck-mounted concrete pump market to stay back on growth during the forecast period. Howbeit, the report also unveils some of the crucial breakthroughs envisaged to come to the rescue of vendors experiencing a lack in demand. Safety issues pertaining to whipping hoses and powerline contact and inefficiency on the part of workers could hinder the advancement of the MENA truck-mounted concrete pump market. Moreover, the volatile oil prices in the MEA hampering construction activities are envisioned to starve the need for truck-mounted concrete pumps.
Nevertheless, upcoming projects such as the US$220,000 mn Khalifa International Stadium project in Qatar for the 2022 FIFA World Cup and 2018 Bushehr nuclear power plant in Iran costing US$8,500 mn are prophesied to encourage industry players. Macroeconomic indicators such as those relating to the construction industry leading to positive improvements in the MENA GDP, a boost in employment rate, and increased construction spending could represent more opportunities. Technological advancements in the construction sector could also contribute to the growth in the MENA truck-mounted concrete pump market.
The study presented here is based on a report by TMR, titled “Truck-mounted Concrete Pump Market (Types - Truck Mounted Mobile Pump, Truck Mounted Static Pump, and Truck Mixer Concrete Pump; End Users - Industrial, Residential, and Commercial) - Middle East and North Africa (MENA) Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024.”
The MENA truck-mounted concrete pump market has been segmented as presented below:
Truck-mounted Concrete Pump Market – Type Analysis
Truck-mounted Concrete Pump Market – End Use Analysis
Truck-mounted Concrete Pump Market – Country Analysis
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