Truck-mounted Concrete Pump Market is expected to reach US$161.0 mn at the end of 2024
The
key players in the MENA truck-mounted concrete pump market for 2015
were Putzmeister, Schwing, and The Liebherr Group. Their collective
share of 54.9% in the market’s overall value denotes a consolidated
playing field for all names in the truck-mounted concrete pump
manufacturing business. All existing players in the MENA
truck-mounted concrete pump market are involved in highly competitive
business strategies in order to gain the upper hand in sales and
overall revenue generation.
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According
to market intelligence provider Transparency Market Research, the
MENA truck-mounted concrete pump market is likely to be a field of
moderate competition. Current key players in the market are expected
to ramp up the competitive pricing strategies in order to gain a
better share of the burgeoning construction sector demand. At the
same time, the MENA truck-mounted concrete pump market is not a
favorable ground for new entrants due to the high capital required as
well as the high level of trust and client pool held by the current
key players such as Putzmeister and Schwing. The MENA truck-mounted
concrete pump market is expected to reach US$161.0 mn at the end of
2016. It is projected to reach US$253.4 mn by 2024 after experiencing
a CAGR of 5.8% from 2016 to 2024.
One
of the top factors boosting the MENA truck-mounted concrete pump
market currently is the region’s booming construction sector. There
is a very high demand for the creation of residential projects such
as large-scale housing areas. Outside of the residential sector, the
construction sector is also befitting from the massive demand for
more and better quality office spaces and industrial infrastructure.
This forms the core driver for all current manufacturers of
truck-mounted concrete pumps in the Middle East and North Africa. A
TMR analyst states, “Above all regions lay UAE and Qatar in terms
of the overall demand for truck-mounted concrete pumps. Both regions
are showing a staggering lead in construction activities within the
MENA region, Qatar especially is expected to show a very steep curve
in demand for construction project equipment over the coming years,
thanks to the upcoming FIFA World Cup in 2022 being hosted here.”
The
oil and gas sector has been exposed to a high degree of
unpredictability in terms of production volumes and overall pricing
scope over the past few years. This oil pricing volatility has had a
severely negative impact on a large number of industries,
particularly those that include transportation and travel as a key
part of their process. This is currently a primary restraint on the
MENA truck-mounted concrete pump market which is heavily dependent on
the consistent and even increasing supply of conventional fuels.
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“Several
advancements in the technologies in the truck-mounted concrete pumps
are expected to usher in a new wave of demand in the MENA
truck-mounted concrete pump market over the coming years. At the top
of the list in technological advancements are concepts such as better
design concepts that incorporate greater arm length and mounted
capacities, remote operation capabilities, enhanced warning systems
using modern sensors and audio-visual warning systems, and the
incorporation of multiple improvements in the implementation of these
pumps in the upcoming MENA irrigation projects,” adds the analyst.
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