Portland, OR, Aug. 04, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global concrete pumps market generated $3.80 billion in 2019, and is estimated to reach $4.85 billion by 2027, registering a CAGR of 4.0% from 2020 to 2027. The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenarios.
Surge in construction of high-rise buildings and mega structures and growing demand for increased output, high capacity, and improved productive concrete pumps across the globe drive the growth of the global concrete pumps market. However, high cost associated with installation processes of concrete pumps is anticipated to restrain the market growth. Furthermore, development of truck mounted pumps is expected to provide new growth opportunities during the forecast period.
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Covid-19 scenario:
- The manufactrurers across the globe have halted their assembling activities due to disrupted pump component supply chain.
- The demand for concrete pumps, on the other hand, is anticipated to decline as construction and infrastructure development activities across the developing nations such as China and India as been halted amid lockdown.
The report offers a detailed segmentation of the global concrete pumps market based on type, industrial verticals, and region.
Based on type, the truck mounted concrete pumps segment contributed to the largest share in 2019, accounting for nearly two-thirds of the total share, and is estimated to maintain its dominant position during the forecast period. In addition, it is also estimated to portray the highest CAGR of 4.2% during the forecast period.
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Based on industry verticals, the commercial segment accounted for the largest share in 2019, holding for nearly half of the total share, and is expected to maintain the largest share throughout the forecast period. However, the domestic segment is expected to register the highest CAGR of 4.8% from 2020 to 2027.
Based on region, Asia-Pacific contributed the highest share, accounting for nearly half of the total market share in 2019, and will maintain its dominance throughout the forecast period. In addition, the region is also expected to grow at the highest CAGR of 5.0% from 2020 to 2027.
Leading market players analyzed in the research include Alliance Concrete Pumps, Ajax Fiori Engineering, DY Concrete Pumps, Concord Concrete Pumps, Liebherr, Junjin, Sany, PCP Group, Sebhsa, and Schwing Stetter.
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About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.