New York, Aug. 23, 2023 (GLOBE NEWSWIRE) -- The North America ride-on power trowel components market is estimated to be valued at US$ 26,462.6 thousand in 2023 and is predicted to expand at 5% CAGR over the forecast period (2023 to 2033).
Ride-on power trowels are critical components in the construction industry as they play a major role in concrete finishing purposes. These devices help in floating the concrete surface, eliminating imperfections and air pockets, allowing the car to maintain a stable path even on rough and uneven terrain.
In recent years, repair projects have generated significant demand for high-performance power trowels, as drivers have grown more conscious about the safety, comfort, and smooth finishing of concrete. Manufacturers are designing power trowels with advanced technologies such as sensors that allow for precise control over the movement and pressure of trowels, resulting in a more consistent finish.
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Power trowels have become a key focus area for construction companies operating in Ontario and Florida, as these states account for a large share of warehouse construction projects in the region. Increasing renovation and repair projects are driving the need for high-performance equipment, including ride-on power trowels that can offer faster completion times and improved consistency.
The construction industry is undergoing a significant transformation due to advancements in power trowels, leading to enhanced safety, performance, and refinement in concrete finishing. Businesses that prioritize research and development to create cutting-edge technologies are anticipated to achieve a competitive advantage, given the enduring significance of safety and user comfort in the choices made by users.
Key Takeaways from Market Study
- The North America ride-on power trowel components market is expected to reach US$ 43,243.9 thousand by 2033.
- The market in the United States is predicted to reach US$ 37,207.4 thousand by 2033, advancing at 5% CAGR.
- The market in Canada is estimated to reach US$ 6,036.5 thousand by 2033, expanding at a CAGR of 5.3%.
- Float pans are expected to hold a leading share of the market over the forecast period.
- Steel blades are projected to account for high sales during the forecast period.
- Demand for specialty trowel blades is set to rise at a CAGR of 5.3% from 2023 to 2033.
“Increasing construction & infrastructure projects and high demand for ride-on power trowels are factors set to significantly contribute to market growth over the decade,” says a Persistence Market Research analyst.
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Competitive Landscape
Tier-I market players, who account for a 15% to 20% share, are investing in technological advancements and expansion of their distribution networks to maintain their market presence.
The ride-on power trowel components market in North America is highly competitive due to the presence of several established and emerging players.
Some of the leading players in this market include Multiquip Inc., Allen Engineering Corporation, Whiteman/Multiquip, Wacker Neuson, MBW Inc., Bartell Global, Husqvarna Construction Products, Marshalltown Company, Bon Tool Co., Stow Construction Equipment, EZG Manufacturing, Kraft Tool Co., BonWay Inc., QLT by Marshalltown, Beton Trowel NV, Atlas Copco, Allen Razorback Concrete Tools, Crown Construction Equipment, Bunyan Industries, Stone Construction Equipment, Inc.
Find More Valuable Insights
The research report by Persistence Market Research covers demand analysis of the North America ride-on power trowel components market, the impact of COVID-19, macroeconomic factors, market trends, and market background.
The analysis is based on product type, material, size, application, sales channel, and region. The report provides qualitative and quantitative information on various players in this market. This report also tracks the market on the basis of supply-side and demand-side factors.
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Market Segmentations
- By Product Type: Trowel Blades, Standard Trowel Blades, Finishing Trowel Blades, Combination Trowel Blades, Specialty Trowel Blades, Float Pans, Standard Float Pans, Finishing Float Pans, Combination Float Pans, Specialty Float Pans
- By Material: Trowel Blades, Steel Blades, Stainless Steel Blades, Carbon Steel Blades, High Carbon Blades, Others, Float Pans, Steel Pans, Stainless Steel Pans, Carbon Steel Pans, High Carbon Pans, Others
- By Size: Trowel Blades, Less Than 12 Inches, 12 to 24 Inches, Greater than 24 Inches, Float Pans, Less than 12 Inches, 12 to 24 Inches, Greater than 24 Inches
- By Application: Concrete Finishing, Edging, Others
- By Sales Channel: OEMs, Aftermarket
- By Region: North America, United States, Canada
For additional insights on how the North America ride-on power trowel components market will shape up over the decade, write to media@persistencemarketresearch.com
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