The concrete pumps market has witnessed significant growth to rise in investment in various industrial verticals such as construction and infrastructure.
WILMINGTON, DELAWARE, UNITED STATES, May 30, 2024 /EINPresswire.com/ — Market Outlook:
The global concrete pumps market size was valued at $3.8 billion in 2019, and is projected to reach $4.8 billion by 2027, registering a CAGR of 4.0% from 2020 to 2027. Concrete pump is a construction equipment, which is mounted on a truck used for construction activities.
The truck-mounted concrete pumps segment garnered the largest share in the market in 2019, growing at a CAGR of 4.2% during the forecast period, as these concrete pumps ensure high performance, improved output, cost-effectiveness, and enhanced efficiency. The concrete pumps market is expected to exhibit a robust growth, owing to increase in use of concrete equipment attributable to their advanced feature and high working efficiency in the construction industry.
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Driving Demands:
The commonly available types of concrete pumps are truck mounted concrete pumps, stationary concrete pumps, and specialized concrete pumps. Among these, the truck-mounted concrete pumps segment dominates the global market, in terms of value, owing to increase in demand from various industries such as construction and mining.
The market is analyzed with respect to different industrial verticals such as industrial, commercial, and domestic. Increase in demand for concrete pumps, owing to the implementation and planning of infrastructure projects is anticipated boost the global concrete pumps market growth during the forecast period. Furthermore, the growth of the global concrete pumps market is majorly driven by development in residential, commercial, & industrial construction sectors. However, volatile economic conditions in Latin America limit the growth of the concrete pumps market.
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Key Players:
The key players profiled in the concrete pumps market report include Ajax Fiori Engineering, Alliance Concrete Pumps, Concord Concrete Pumps, DY Concrete Pumps, Junjin, Liebherr, PCP Group, Sany, Schwing Stetter, and Sebhsa.
Key Findings Of The Study:
The report provides an extensive analysis of the current and emerging concrete pumps market trends and dynamics.
Depending on industrial verticals, the commercial segment dominated the concrete pumps market, in terms of revenue in 2019 and domestic segment is projected to grow at a significant CAGR during the forecast period.
By type, the truck-mounted concrete pumps segment registered highest revenue in 2019.
Asia-Pacific is projected to register the highest growth rate in the coming years.
The key players within the concrete pumps market are profiled in this report, and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the concrete pumps industry.
The report provides an extensive analysis of the current trends and emerging opportunities of the market.
In-depth concrete pumps market analysis is conducted by constructing estimations for the key segments between 2020 and 2027.
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