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Concrete Pump Market to Hit USD 6.7 Bn Valuation by 2031 with CAGR of 4.3% | Transparency Market Research

The global concrete pump market growth is driven by the rapid urbanization, changes in lifestyle, growth in new households, and increase in mechanization.

Wilmington, Delaware, United States, March 23, 2023 (GLOBE NEWSWIRE) -- According to latest study by Transparency Market Research, The global concrete pump market size was valued at USD 4.4 Bn in 2022 and it is projected to reach USD 6.7 Bn by 2031 with CAGR of 4.3%.

Burgeoning growth of the construction sector to serve the ever-increasing demand for residential and commercial spaces is creating opportunities in the concrete pump market. Large-scale migration to urban areas for work opportunities is necessitating the construction of hospitals, educational institutions, and other public welfare service buildings. This, in turn, is propelling concrete pump market development.

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Market Snapshot:

Market Revenue  USD 4.4 Bn in 2022
Estimated Value  USD 6.7 Bn 2031
Growth Rate - CAGR  4.3%  
Forecast Period  2023–2031
No. of Pages  140 Pages
Market Segmentation  By Type, End-use Application, Distribution Channel
Regions Covered  North America, Europe, Asia Pacific, Middle East & Africa, South America
Format  Electronic (PDF) + Excel

Concrete pumps are integral equipment of modern construction undertakings to transfer large amounts of liquid concrete in one go. Rise in labor cost and relatively low efficiency of manual labor is leading to adoption of motorized equipment, such as concrete pumps for construction projects. These factors are anticipated to boost the global concrete pump industry in the next few years.

Concrete Pump Market – Key Findings of Report

  • Rise in Government Investments and Schemes – Massive capital estimates of the Asian Development Bank for investment in infrastructure across Asia Pacific to maintain growth momentum, is leading governments to invest heavily in infrastructure projects. Toward this end, several governments are introducing urban development schemes that are aimed to improve the quality of life through technology-driven urban planning. Such initiatives involve voluminous construction projects, thereby fueling the concrete pump market growth.

  • Tangible Benefits Substantiate Growth of Truck Mounted Pumps Segment – Based on type, the key segments into which the concrete pump market is segmented include truck mounted pumps, specialized pumps, and stationary pumps. Of them, the truck mounted pumps segment is anticipated to dominate the market. Truck mounted pumps utilize a remote-controlled robotic arm to place the concrete accurately at the construction site. Truck mounted pumps enable significantly faster flow volume of concrete than other types of pumps. Ability to multitask due to the presence of a multi-purpose robotic arm leading to significant savings of labor cost is another key advantage of truck mounted pumps.

  • Residential End-use Application Segment to Emerge Dominant – By end-use application, the global concrete pump market has been segmented into industrial, commercial, and residential. Of them, the residential segment is likely to offer promising opportunities to the market, ascribed to the surge in construction of high-rise buildings, housing communities, and township projects in urban areas.

Concrete Pump Market – Growth Drivers

  • Exponential growth of the construction sector leading to surge in demand for an array of construction equipment fuels the concrete pump market
  • Mega budgets of governments in developing countries for infrastructure development, aimed at improving the quality of life of the population bolsters demand for concrete pumps for construction undertakings

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Concrete Pump Market – Regional Outlook

Asia Pacific is anticipated to dominate the global market during the forecast period. Rapid industrialization and urbanization in developing economies of the region which involves large-scale construction is driving demand for numerous construction equipment, including concrete pumps. Key role of governments in countries such as India, China, and Japan to construct railways and seaports to facilitate economic growth favors market progress in the region.

The concrete pump market share of North America and Europe is anticipated to rise at a moderate pace during the forecast period.

Concrete Pump Market – Competition Landscape

Competition in the concrete pump market is intense due to the presence of numerous local and global players. This is compelling manufacturers to invest in R&D to introduce next-gen products and capitalize on concrete pump market opportunities. Furthermore, key players are entering into partnerships with distributors to garner higher sales.

Some of the key players in the operating in the global concrete pump market include Sany Group, Fangyau Group Inc., Concord Concrete Pumps, Zoomlion Heavy Machine Co-Ltd., Apollo Infratech Pvt. Ltd., KCP Heavy Industries, SCHWING GmbH, Putzmeister, LIEBHERR Group, and Alliance Concrete Pumps.

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The concrete pump market is segmented as follows;

Concrete Pump Market, by Type

  • Truck Mounted Pumps
  • Stationery Pumps
  • Specialized Pumps

Concrete Pump Market, by End-use Application

  • Residential
  • Commercial
  • Industrial

Concrete Pump Market, by Distribution Channel

  • Direct Sales
  • Indirect Sales

Concrete Pump Market, by Region

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • South America

About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

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