Concrete Pumps Market Outlook 2031
The global concrete pumps market size was valued at USD 4.27 Billion in 2022 and is likely reach to USD 6.08 Billion by 2031, expanding at a CAGR of 4% during the forecast period 2023 - 2031. The growth of the market is attributed to increasing construction activities across the globe.
Concrete pump is a machine that utilizes pumping action to transport concrete slurry from one point to another. Pumps provide constant supply of concrete with help of hose or pipe. The placement of concrete in inaccessible areas has mandated the use of pumps in the construction industry.
The type of pump to be utilized on construction site depends on two major factors. The first one is distance over which the concrete is to be pumped and the second one is the properties of the concrete slurry.
The trend of high-rise buildings, complex designs, massive construction, and complicated structural plan has been possible due to the improvement in the design of concrete pumps. Increasing demand for high-capacity concrete pumps is anticipated to boost the growth of the market.
Concrete Pumps Market Drivers, Restraints, Trends, and Opportunities
- Rapid urbanization in emerging economies such as India and China is anticipated to spur the concrete pumps market growth.
- Increasing demand for ready-mixed concrete is driving the growth of the market.
- Countries around the globe have imposed lockdown to minimize the impact of COVID -19, which have negatively affected the concrete pumps market growth. Construction developers had to halt their construction projects owing to lack of labour and government restrictions. However, the concrete pumps market is anticipated to recover till the end of 2021.
- Ongoing advancement and innovation in concrete pump design are driving the growth of the market segment. Features such as integration of hydraulic switching and measuring equipment are the recent trends of the concrete pumps market.
Scope of Concrete Pumps Market Report
The report on the global concrete pumps market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Concrete Pumps Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Types (Truck Mounted Concrete Pumps, Stationary Concrete Pumps, and Specialized Concrete Pumps) and Applications (Industrial, Commercial, and Domestic)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered
Ajax Fiori Engineering, Alliance Concrete Pumps, Concord Concrete Pumps, DY Concrete Pumps, Junjin, Liebherr, PCP Group
Global Concrete Pumps Market Segment Insights
Truck mounted concrete pumps segment to hold significant market share
On the basis of types, the concrete pumps market share segmented into truck mounted concrete pumps, stationary concrete pumps, and specialized concrete pumps. The truck mounted concrete pumps segment is anticipated to account for a significant market share during forecast period. Increasing number for skyscrapers and commercial buildings in emerging countries is anticipated to drive the truck-mounted concrete pumps segment globally.
Domestic segment to hold a considerable market share
On the basis of applications, the global concrete pumps market share segmented into industrial, commercial, and domestic. The domestic segment is anticipated to exhibit a high CAGR during the forecast period.
The COVID-19 pandemic has acted as one of the major drivers of this segment. Increasing construction activities of residential buildings is anticipated to spur the segment growth. Rapid urbanization and changing lifestyles of people across the world are acting as prominent drivers for the domestic segment growth.
Concrete Pumps Market Regional Outlook
Asia Pacific to dominate the market
On the basis of regions, the market segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific is anticipated to dominate the market during the forecast period. Increasing funding grants by state government bodies and rising focus to develop residential and commercial infrastructure are driving the regional market growth.
Increasing number of manufacturing plants, rapid urbanization, and rising population are some of the other factors are anticipated to propel the growth of the market in the region.
- Truck-mounted Concrete Pumps
- Stationary Concrete Pumps
- Specialized Concrete Pumps
- North America
- Latin America
- Middle East
Key players operating in the concrete pumps market are Ajax Fiori Engineering, Alliance Concrete Pumps, Concord Concrete Pumps, DY Concrete Pumps, Junjin, Liebherr, and PCP Group.
Companies are focusing on partnering with construction developers and investing in developing advanced concrete pumps to expand their market share.