Pune, Sept. 11, 2024 (GLOBE NEWSWIRE) -- Concrete Pump Market Size & Growth Analysis:
“According to SNS Insider Research, The Concrete Pump Market was valued at USD 5.18 Billion in 2023 and is projected to reach USD 8.06 Billion by 2032, with growing CAGR of 5.03% from 2024 to 2032.”
Rapid Growth in Concrete Pump Market Fuelled by Surge in Construction and Urbanization
The Concrete Pump Market is seeing great growth and it is led by the rising global construction and urbanization activity. Construction projects are becoming larger and more complicated which increases the need for efficient, practical, and sustainable solutions. On the one hand, concrete pumps provide a more precise and faster alternative to the manual inputs of cement. Manual labor and traditional methods are inconvenient for high-rise buildings and industrial construction. On the other hand, the surge in its construction whether it is residential, commercial, or industrial development in developing regions is driving the market. Furthermore, significant government investments in infrastructure projects such as highways, railway lines, bridges, and airports are advancing technological developments of the concrete pump segment.
Technological advancements are a key factor for the market growth. New equipment provides precise placement of concrete with the availability of remote-control devices. Technological developments are also reflected in the creation of eco-friendly equipment which requires less power and emits less if any at all, and provides for environment protection policy of the world and sustainable development. The demand for high-capacity concrete pumps is essential for the production of large public works infrastructure as they may be transported over great distances, thus, being an important component of mega construction project. Truck-mounted equipment is also seeing great demand in urban regions as they lack the space for stationary facilities. The U.S. will likely be the leading market in North America due to a large number of high-rise buildings and industrial activities in the country and a need for modernization.
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Key Players Analysis Listed in this Report are:
- Ajax Fiori Engineering
- Alliance Concrete Pumps
- Concord Concrete Pumps
- DY Concrete Pumps
- Junjin
- Liebherr
- PCP Group
- Sany
- Schwing Stetter
- Sebhsa
- Zoomlion Heavy Industry Science & Technology Co., Ltd.
- Other Players
Concrete Pump Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 5.18 Billion |
| Market Size by 2032 | USD 8.06 Billion |
| CAGR | CAGR of 5.03% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
Segmentation Analysis | Truck-Mounted Concrete Pumps Lead Market With 62.04% Share
By Type: The Truck-mounted Concrete Pumps dominating the market with a share of around 62.04% in 2023, truck-mounted concrete pumps are favored for large-scale constructions. These pumps offer mobility, high-speed concrete delivery, and remote-controlled arms, making them ideal for reaching inaccessible areas and complex construction sites. Their versatility and efficiency drive their dominance in the market.
By Vertical: In 2023, the industrial segment led the market, driven by substantial infrastructure projects requiring high-capacity concrete delivery. This sector includes projects such as highways, airports, and bridges, which demand reliable and efficient concrete pumping solutions for long-distance transportation and large-scale applications. The industrial segment's growth is supported by increasing investments in infrastructure and the need for advanced construction technologies.
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Concrete Pump Market Segmentation:
By Type
- Truck-mounted Concrete Pumps
- Stationary Concrete Pumps
- Specialized Concrete Pumps
By Vertical
- Industrial
- Commercial
- Domestic
Asia Pacific Leads Concrete Pump Market With 56.8% Share | Urbanization, Population Growth, And Infrastructure Investments Fuel Regional Dominance.
Asia Pacific: In 2023, Asia Pacific held the largest market share at approximately 56.8%. The region's rapid urbanization, population growth, and government investments in infrastructure development are key drivers of this dominance. Countries like India, China, and Indonesia are seeing increased foreign direct investments, which boost the demand for concrete pumps in various construction projects. For instance, companies such as SANY Group and XCMG are actively involved in the Asia Pacific market, offering advanced concrete pumping solutions tailored to the region's needs.
Recent Developments
In July 2024: Hindustan Infrastructure Solution has introduced a state-of-the-art concrete pump for the SOBHA Dream Heights project in Gujarat. This advanced equipment is designed to enhance efficiency in delivering concrete to high elevations, addressing the challenges associated with high-rise construction. The new pump reflects the increasing demand for modern solutions in vertical construction projects, such as the prominent SOBHA Dream Heights development.
In October 2022: Liebherr Company presented its new 36 XXT truck-mounted concrete pump for the first time. It was sold to Betonpumpenunion GmbH & Co. KG. The machine has features such as low unfolding height along with an innovative XXT support system.
Key Takeaways
- The report provides a comprehensive analysis of the Concrete Pump Market, offering insights into global construction trends, technological advancements, and regional growth drivers.
- Truck-mounted concrete pumps lead the market in terms of share and growth, driven by their efficiency and versatility in large-scale construction projects.
- Asia Pacific holds the largest market share, bolstered by rapid infrastructure development and substantial investments in construction projects.
- Recent product innovations, including eco-friendly designs and advanced remote-control features, are enhancing market growth and addressing modern construction challenges.
- It explores regional dynamics, particularly the dominance of the Asia Pacific region, and the impact of urbanization, population growth, and infrastructure investments on market demand and opportunities.
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Table of Contents - Major Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Concrete Pump Market Segmentation, by Type
8. Concrete Pump Market Segmentation, by Vertical
9. Regional Analysis
10. Company Profiles
11. Use Cases and Best Practices
12. Conclusion
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