Concrete Equipment Market to Witness 3.29% CAGR Growth Through 2032 | Report by SNS Insider
Concrete Equipment Market to Reach USD 24.97 Billion by 2032, Owing to Rapid Urbanization and Infrastructure Development.
AUSTIN, TX, UNITED STATES, February 5, 2025 /EINPresswire.com/ -- According to SNS Insider, the Concrete Equipment Market size was valued at USD 18.66 billion in 2023. The market size is anticipated to reach USD 24.97 billion by 2032, growing at a CAGR of 3.29% during the forecast period of 2024-2032.The Concrete Equipment Market is anticipated to grow significantly in the coming time period owing to rapid urbanization and high investment in the infrastructure development in the developing economies.
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Key Players:
- Schwing (Concrete Pumps, Concrete Mixers)
- Liebherr (Concrete Mixers, Mobile Concrete Pumps)
- Gough Engineering (Concrete Batching Plants, Concrete Mixers)
- Sicoma (Concrete Mixers, Batching Plants)
- KYB (Concrete Pumps, Concrete Mixers)
- IHI (Concrete Pumps, Batching Plants)
- Alliance (Concrete Pumps, Mixers)
- Continental (Concrete Mixers, Concrete Batching Plants)
- SANY (Concrete Pumps, Concrete Mixers, Batching Plants)
- Zoomlion (Concrete Pumps, Concrete Mixers, Batching Plants)
- CAMC (Concrete Mixers, Pumps)
- XCMG (Concrete Pumps, Concrete Mixers, Batching Plants)
- SHANGHAI HUAJIAN (Concrete Mixers, Concrete Pumps)
- Fangyuan Group (Concrete Batching Plants, Concrete Mixers)
- NFLG (Concrete Batching Plants, Concrete Mixers)
- Janeoo (Concrete Batching Plants, Concrete Mixers)
- Volvo Construction Equipment (Concrete Mixers, Mobile Concrete Pumps)
- Cifa (Concrete Pumps, Concrete Mixers)
- Terex (Concrete Pumps, Batching Plants)
- Doosan Infracore (Concrete Mixers, Concrete Pumps)
Market Insights: Concrete Pumps by Type and Road Construction by Application in 2023
By Type
- Concrete Pumps
- Concrete Mixers
The Concrete Pumps segment captured over 58% of the market share in 2023, owing to their efficient pumping of concrete to hard-to-reach areas at construction sites. They are essential in urban settings, when you need to move concrete across long distances and heights.
By Application
- Road Construction
- Industrial Building
- Commercial Building
The Road Construction segment accounted for more than 42% of the market in 2023, primarily due to growing infrastructure development worldwide. The growing demand for strength and longevity in roadways has increased the use of specialized concrete machines in the paving and bridge construction areas.
In 2023, North America accounted for more than 42% of the Concrete Equipment Market.
It is supported by significant building construction in the U.S. and Canada, large-scale infrastructure projects covering highways, bridges and commercial buildings. Moreover, the region's focus on technology and strict standards for construction continue to drive growth in the market. Moreover, significant investments in infrastructure, as well as the reshoring of manufacturing activities, further bolster the demand for concrete equipment in North America.
Europe, with an increase in infrastructure projects such as road and bridge construction, is enhancing the growth of the Concrete Equipment Market at a fast pace. This growth can largely be attributed to the region's commitment to sustainable building practices and the implementation of advanced concrete technologies. Governments and private entities are making critical investments to update outdated infrastructure requires new concrete solutions. Reflecting Europe's innovative construction industry, eco-friendly construction methods, and energy-efficient machinery means it is the fastest-growing market, with the largest market share.
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Recent Developments
- In May 2024: Volvo CE launched the EC230, the largest electric excavator, at the Japan CSPI-Expo. This introduction marks the EC230 Electric's first commercial entry into Asia, with subsequent launches planned for North America and select European markets. The EC230 features advanced electric propulsion, offering zero emissions and reduced operational noise, catering to the growing demand for sustainable construction equipment.
- In March 2024: Sumitomo Corporation acquired 100% of the assets and operations of Trench Shore Rentals, Inc., a U.S.-based construction equipment rental company, to expand its presence in North America. This strategic acquisition enhances Sumitomo's portfolio in the concrete equipment sector, providing a broader range of services and strengthening its market position.
About Us:
SNS Insider is a global leader in market research and consulting, shaping the future of the industry. Our mission is to empower clients with the insights they need to thrive in dynamic environments. Utilizing advanced methodologies such as surveys, video interviews, and focus groups, we provide up-to-date, accurate market intelligence and consumer insights, ensuring you make confident, informed decisions.
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