As per the new research report released by Transparency Market Research, the MENA truck-mounted concrete pump market is dominated by European, Chinese, and South Korean manufacturers. Putzmeister, Schwing, and The Liebherr Group are the major manufactures of the truck mounted concrete pumps in the MENA region. Companies are using aggressive marketing strategies and strategic acquisitions to gain competitive advantage over their rivals. In 2012, Sany acquired the German company Putzmeister, which bolstered Sany’s presence in the MENA truck-mounted concrete pump market. In terms of revenue, Putzmeister held 28.3% share of the truck mounted concrete pump market in 2015.
According to the projections present in this research report, the MENA truck mounted concrete pump market was valued at US$ 169.9 Mn in 2017 and is estimated to reach a valuation of US$ 253.4 Mn in 2024 end, demonstrating a CAGR of 5.9% during the period of assessment 2017-2024.
Need for Enhanced Productivity and Quality at Construction Projects Aiding Revenue Growth of the MENA Truck Mounted Concrete Pump Market
Truck mounted concrete pumps increase productivity, and quality in the construction projects as compared to the conventional pumps. Developed through the modern advanced computer simulation techniques, these pumps enable the movement of robotic arms using remote control. Truck mounted concrete pumps can transfer concrete to the exact location horizontally and vertically. This helps meet the need for accurate and precise equipment for concrete transportation. Due to such desirable traits of the truck mounted concrete pumps, the pace of construction becomes faster and quality of construction is also enhanced. This boosts the growth of truck mounted concrete pump market in the MENA region.
Analysis of the Top Countries in the MENA Truck Mounted Concrete Pump Market
The UAE has witnessed high growth in the construction industry in the last few years and the same trend is expected to continue in the next few years, owing to large construction projects and industrial activities. Major players in the truck-mounted concrete pumps market in the region have already established their offices in the country, with the aim of high profitability. The market for truck-mounted concrete pumps in the UAE is anticipated to exhibit a CAGR of 6.2% during the forecast period. In terms of revenue, it is expected to reach US$ 83 Mn by 2024.
The building and construction industry is expanding at a rapid pace in Qatar, owing to its comprehensive and ambitious infrastructure and economic development programs. Since Qatar is already engaged in projects such as the World Cup football stadium to be accomplished by 2022, truck-mounted concrete pumps are anticipated to contribute significantly towards such milestones. The truck-mounted concrete pumps market in Qatar is projected to display a CAGR of 7.5% during the forecast period.
Oil Price Volatility Could Hamper Construction Projects in the MENA Region
Prolonged volatility in prices of oil in Middle East & Africa is expected to prompt companies to cancel or delay their construction projects. This is likely to adversely affect the truck mounted concrete pump market during the forecast period. Countries in the Middle East are largely dependent on revenues from the oil industry. Volatility in prices of oil is anticipated to hamper the construction industry. This, in turn, is estimated to negatively impact the truck mounted concrete pump market in the MENA region.
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.”
Transparency Market Research
90 State Street,
Albany NY - 12207
USA - Canada Toll Free: 866-552-3453
7 of 10 large enterprizes view our ToC to take the right decision.View Report ToC