Ride-on Trowel Market to Perceive Substantial Growth During 2025
Some
of the prominent players operating in the ride-on trowel market are
Allen Engineering, Bartell Machinery Systems, Atlas Copco, Shanghai
Dragon Construction Equipment Co., Ltd., Multiquip-Whiteman,
Masterpac, MBW Inc., Ltd., Parchem Construction Supplies Pty. Ltd.,
Shanghai Dynamic Construction Machinery Co. Ltd. and Wacker Neuson,
finds Transparency Market Research (TMR). Several of these players
are offering a wide product portfolio featuring user-friendly,
ergonomic control systems for various applications and are focused on
strengthening their sales strategies, in order to consolidate their
shares in various regions, notes TMR.
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A
number of emerging and leading players are investing in product
innovations. They are developing robust technologies featuring a
combination of size and power to enable more time-efficient
operation, in a move to stay ahead of others, observes the market
research firm. As a result, the overall market is fairly competitive.
Witnessing
ample opportunities in the construction industry in several developed
and developing regions and continued expansion of infrastructural
developments worldwide, the global ride-on trowel market is
prognosticated to rise at a CAGR of 4.7% from 2017 to 2025, according
to TMR. The market stood at US$67.0 Mn in 2016 and is predicted to
reach a valuation of US$101.0 Mn by the end of 2025.
Based
on type of fuel used, ride-on trowels are powered by petrol, diesel,
and electric. Of these, petrol-based ride-on trowel held the leading
market share in 2016 and is projected to dominate throughout the
forecast period. The demand for these will primarily be driven by a
burgeoning construction industry in various parts of the world,
especially in emerging countries. Regionally, currently North America
leads the global market, vis-Ã -vis revenue, and is expected to
retain its dominance throughout the assessment period.
Rapid
Pace of Infrastructural Development to Stoke Demand
The
need for mechanized concrete finishing technology for trowelling
concrete surfaces is a key factor boosting the demand for ride-on
trowels. The rising demand for flat and smoother concrete surfaces in
residential, commercial, and industrial buildings to meet heavy load
requirements is a key aspect bolstering the demand for better ride-on
trowel technology. A burgeoning construction industry in various
developing regions and the rapid pace of infrastructural development
in several emerging economies, coupled with the increasing labor
cost, are prominent trends stoking the demand for these construction
equipment.
The
presence of heavy loads in airports, garages, and warehouses is a key
factor driving the demand for advanced trowelling technologies
suitable for high-tolerance concrete floors, thereby boosting the
overall ride-on trowel market. The intensifying demand for superior
floating and high production finishing jobs in developing and
developed nations is a prominent factor that will stimulated
technology improvements. A number of emerging players investing in
research and development activities bodes well for the market. There
is prominent demand for non-overlapping machines among contractors
owing to their cost-effectiveness and ability to provide superior
floating for high production finishing jobs. This augurs well for the
ride-on trowel market.
Operator
Comfort Key Constraint Impeding Adoption
The
lack of operator comfort and high maintenance of sophisticated
machinery, along with their high cost of operation, are key factors
likely to impede the adoption of ride-on trowels among relatively
small contractors. Nevertheless, several prominent players are
focused on engineering products that allow more convenient operation
over extended period of time. The advent of advanced ride-on trowel
lines with user friendly controls, easy maneuverability, and optimum
operational requirements is a crucial factor opening lucrative
avenues for market players.
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Strict
implementation of enforcement of labor laws and expanding
infrastructure size are expected to accentuate the demand for
power-based trowels. In addition, the launch of product lines that
cater to less-intensive production finishing jobs and provides fuel
economy and better finishing results is a notable development
expected to augur well for the growth of the market over the forecast
period.
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