Pune, India, March 09, 2023 (GLOBE NEWSWIRE) -- The global Concrete Pump market size is set to gain impetus from the increasing investments in research and development activities by numerous prominent manufacturers. In June 2021, for instance, SCHWING America announced the expansion of the pumping season with a newly designed chassis for SX III, S 47, and S 43 SX. It would enable boom pump operators to drive on highways and roads according to Minnesota restrictions. As per a report by Fortune Business Insights™, in a report, titled, “Concrete Pump Market, 2021-2028,” the Concrete Pump market size was USD 4.57 billion in 2020. It is projected to grow from USD 4.74 billion in 2021 to USD 6.61 billion in 2028 at a CAGR of 4.9% in the forecast period.
Industry Development
Putzmeister and Sany expanded its concrete product range at Excon 2019. The new product range includes Putzmeister BSF 47 – 5, Sany SYG5180THB300C-8, and Batching Plant MT 0.35.
Axio (Special Works) Limited had to provide a fine of £20,000 as one of its employees was injured by a concrete pump. As per a HSE inspector, proper guidelines should be followed while working with such equipment.
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Report Highlights:
| Report Coverage | Details |
| Forecast Period | 2021-2028 |
| Forecast Period 2021 to 2028 CAGR | 4.9% |
| 2028 Value Projection | USD 6.61 Billion |
| Base Year | 2020 |
| Market Size in 2020 | USD 4.47 Billion |
| Historical Data for | 2017-2019 |
| No. of Pages | 120 |
| Segments covered | By Product Type, By Industry and By Region |
| Growth Drivers | Development of High-rise Buildings and Construction of Commercial Skyscrapers to Boost Growth |
| Breakdown of Concrete Pump Leading to Halt of Construction May Hinder Growth |
Key Takeaways:
- Severe Shortage of Labor and Need to Adopt Automation in Construction Industry to Aid Growth
- Truck-mounted Segment is Estimated to Dominate in the Forthcoming Years
- Commercial Segment to Hold Major Share Backed by Surging Initiatives by Developers to Increase Fleets
- India to Witness Noteworthy CAGR with Increasing Development of Smart Cities
- Key Companies Focus on Collaborations and Joint Ventures across Various Regions
COVID-19 Impact
COVID-19 Pandemic: Halt of Construction Activities to Obstruct Growth
The COVID-19 pandemic has halted construction activities happening across the globe because of stringent lockdown and social distancing norms. Many investors cancelled their plans to invest in the field of Concrete Pump, resulting in low cash liquidity. The International Labour Organization, for instance, declared that the Indian construction industry is facing severe problems post the two waves of COVID-19 because of the shortage of labourers. At the same time, the declining demand for commercial outlets in malls would hamper growth amid the pandemic.
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Drivers & Restraints
- Rising Development in Metropolitan Cities and Urbanization to Aid Growth
- The rapid urbanization and development in metropolitan cities worldwide is set to propel the demand for high-rise buildings.
- Concrete Pump can transport the concrete mixture easily at far reaching high-rise buildings with ease.
- ANAROCK Property Consultants, for instance, mentioned that in the top 7 cities across India, 52% out of the total 1,816 housing projects in 2019 were high-rise buildings. They had a 20 plus floor structure.
- However, the breakdown of these pumps at construction sites can lead to the waste of ready mix concrete and stop operations temporarily.
- It may hamper the Concrete Pump market growth in the upcoming years.
Report Coverage
The research report contains an in-depth study of various regions. It was curated by our analysts after studying and observing numerous factors that determine regional growth, such as political, technological, social, economic, and environmental status of that particular region. The competitive landscape section was developed to help our clients better understand the collaborations and strategies that key manufacturers of Concrete Pump are focusing on to compete with their rivals globally.
List of Key Players Present in the Market
- Alliance Concrete Pump (Pennsylvania, the U.S.)
- Liebherr (Kirchdorf an der Iller, Germany)
- Schwing Stetter (Herne, Germany)
- Ajax Fiori Engineering (Karnataka, India)
- Sany Heavy Industry Co., Ltd. (Changsha , China)
- DY Concrete Pump (Calgary, Canada)
- PCP Group LLC (Florida, the U.S.)
- Xuzhou Construction Machinery Co,Ltd (Jiangsu, China)
- Zoomlion Heavy Industry Science & Technology Co., Ltd. (Hunan Province, China)
- Zhejiang Truemax Engineering Co., Ltd. (Hangzhou, China)
- Sebhsa (Girona, Spain)
- Concord Concrete Pump (Port Coquitlam, Canada)
- Junjin (China)
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Stationary Segment Held 13.2% Share in 2020: Fortune Business Insights™
Based on product type, the market is trifurcated into specialized, stationary, and truck mounted. Out of these, the stationary segment earned 13.2% in terms of the Concrete Pump market share in 2020. The truck mounted segment is set to remain dominant throughout the forthcoming years because of its ability to provide high accuracy and precision.
Regional Insights-
Rising Construction of Skyscrapers to Help Asia Pacific Dominate
Geographically, Asia Pacific stood at USD 1.62 billion in 2020 in terms of revenue. India is set to contribute to this growth because of the surging construction of skyscrapers and high-rise buildings in this country. According to Mumbai Metropolitan Region (MMR), around 734 upcoming projects are under the high-rise category. On the other hand, North America is anticipated to show stable growth backed by the rising demand for performance oriented Concrete Pump.
Competitive Landscape-
Key Players Focus on Introducing Novel Products to Intensify Competition
The global market for Concrete Pump contains a large number of companies that are presently striving to keep up with the high demand from customers worldwide. To do so, they are launching innovative products to attract more customers. A few others are trying to follow guidelines given by governments to prevent accidents.
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Major Table of Contents:
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Product Types
- Executive Summary
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19 on Concrete Pump Market
- Short-term Impact
- Long-term Impact
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Porter’s Five Forces Analysis
- Global Concrete Pump Market Share Analysis and Matrix, 2020
- Key Market Insights and Strategic Recommendations
- Profiles of Key Players (Would be provided for 10 players only)
- 6.1. Overview
-
- Key Management
- Headquarters etc.
- Offerings/Business Segments
-
-
- Key Details (Key details are subjected to data availability in public domain and/or on paid databases)
- Employee Size
- Past and Current Revenue
- Geographical Share
- Business Segment Share
- Recent Developments
- Key Details (Key details are subjected to data availability in public domain and/or on paid databases)
- Primary Interview Responses
- Annexure / Appendix
- Global Concrete Pump Market Analysis, Insights and Forecast (Quantitative Data), By Segments, 2017-2028
- By Product Type (Value)
- Truck Mounted
- Stationary
- Specialized
- By Industry (Value)
- Commercial
- Industrial
- Domestic
- By Geography (Value)
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South America
- By Product Type (Value)
- Global Concrete Pump Market Analysis, Insights and Forecast (Quantitative Data), By Segments, 2017-2028
TOC Continued…!
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FAQ’s
How big is the Concrete Pump Market?
The global Concrete Pump Market size was estimated at USD 4.57 billion in 2020 and is expected to reach USD 4.74 billion in 2021
What is the Concrete Pump Market growth?
The global Concrete Pump Market is expected to grow at a compound annual growth rate of 4.9% from 2021 to 2028 to reach USD 6.61 billion by 2028
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