Truck Mounted Concrete Pump Market - Global Industry Analysis, Size, Share, Growth | 2024
The
global truck mounted concrete pumps market features a largely
consolidated vendor landscape, with the top six companies accounting
for a nearly 95% of the market in 2016, finds Transparency Market
Research (TMR) in a recent report. These six vendors, namely Zoomlion
Heavy Machinery Co. Ltd., SCHWING, Sany Group & Putzmeister,
XCMG, LIEBHERR, and Concord Concrete Pumps command immense power in
the market owing to strong brand identities, expansive product
portfolios, and globally spread business operations.
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The
level of competition is very high in the market and is expected to
remain the same over the report’s forecast period as well. To
strengthen their hold on the world market, companies are focusing on
adopting strategic collaborations, aggressive pricing, and ways of
reaching out to a larger consumer base through geographical
expansion. These factors are expected to further intensify the level
of competition in the market.
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TMR
estimates that the global truck mounted concrete pump market will
exhibit a promising 5.8% CAGR over 2017 and 2025, rising from an
opportunity of US$2.79 bn in 2016 to US$4.64 bn by 2025.
Truck
Mounted Mobile Pumps to Remain Most In-demand Product Variety
In
terms of the type of truck mounted concrete pumps analyzed in the
report, the segment of truck mounted mobile pumps is presently the
leading revenue contributor to the global market. The trend is
expected to remain strong over the forecast period as well, with
mobile pumps likely to find favorable demand across small and big
construction sites across the globe. In terms of geography, the
market for truck mounted concrete pumps in Asia Pacific presently
holds the lion’s share in the global market owing to a thriving
construction industry in some of its top developing economies. The
region, accounting got over 55% of the global market in 2016, is
expected to continue to have a significant influence on the overall
market over the forecast period as well.
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Steady
Pace of Development of Urban Settings in Developing Economies to
Drive Market
To
support the development of an ever-rising population moving to urban
settings and the rapid pace of development of the industrial sector,
especially in emerging economies in regions such as Asia Pacific,
Latin America, and Middle East and Africa, governments are investing
vast funds towards infrastructure development projects. The resultant
surge in construction activities across the globe has led to the
significant rise in demand for construction equipment such as
concrete pumps. In the next few years as well, these factors will
continue to drive the global truck mounted concrete pumps market
towards a healthy growth path.
Rising
Usage of Precast Concrete Structures to Hamper Growth Prospects
Despite
having promising growth prospects, some factors continue to challenge
the overall growth prospects of the global truck mounted concrete
pumps market. Factors such as the increased usage of precast concrete
structures across a number of construction projects and the high
influence of economic and political factors on the overall
development of the construction industry are projected to impact the
market negatively. Nevertheless, companies operating in the sector
could benefit from the vast growth opportunities present in emerging
economies.
Global
Truck Mounted Concrete Pump Market Report is available at US$ 5795 -
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