ALBANY, New York, January 3, 2017 /PRNewswire/ --
Transparency Market Research has released a new market report titled "Truck-mounted Concrete Pump Market (Type - Truck Mounted Mobile Pump, Truck Mounted Static Pump and Truck Mixer Concrete Pump; End Use - Industrial, Residential and Commercial) - Middle East & North Africa (MENA) Industry Analysis, Size, Share, Growth, Trends and Forecast, 2016-2024." According to the report, the truck-mounted concrete pump market in Middle East was valued at US$ 152.6 Mn in 2015 and is projected to reach US$ 253.4 Mn by 2024, expanding at a CAGR of 5.8% from 2016 to 2024.
Rapid growth in the construction sector due to growing demand for mass housing projects coupled with need for improved productivity and quality at construction projects is projected to increase the demand for concrete pumps in the Middle East & North Africa in the next few years. However, safety issues related to the operation of truck mounted concrete pumps and volatility in prices of oil could hamper the market.
Based on type, the truck-mounted concrete pump market in Middle East & North Africa can be segmented into truck-mounted mobile pumps, truck-mounted static pumps and truck mixer concrete pumps. In terms of revenue, truck-mounted mobile pumps is anticipated to be the largest segment of the truck-mounted concrete pump market during the forecast period. The truck-mounted mobile pumps segment accounted for more than 51% share of the truck-mounted concrete pump market in Middle East & North Africa in 2015. Truck mounted static pump was the second-largest segment of the market in 2015.
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End use segments include industrial, residential and commercial. Among these, the residential segment is primarily projected to boost the demand for truck-mounted concrete pump in the region. In terms of revenue, the residential segment held more than 48% share of the truck-mounted concrete pump market in Middle East & North Africa in 2015. The commercial segment was the second-largest segment in 2015.
UAE was the largest market for truck-mounted concrete pump in terms of revenue in 2015. It was followed by Qatar, Egypt, Iran, Morocco, Algeria and Oman. The truck-mounted concrete pump market in UAE and Qatar is likely to expand at a significant rate due to increasing demand for truck mounted concrete pumps in building and construction applications. The truck-mounted concrete pump market in other emerging economies of Middle East & North Africa is projected to experience modest growth during the forecast period.
The truck-mounted concrete pump market is moderately concentrated; large and medium companies operate across the region. Companies are using aggressive marketing strategies and strategic acquisitions to gain competitive advantage over their rivals. Key players operating the market include Putzmeister, Schwing, Liebherr Group, Sany Group, Concord Concrete Pump, XCMG Co., Ltd, and KCP Heavy Industries.
The report segments the truck-mounted concrete pump market in Middle East & North Africa into:
Truck-mounted concrete pump Market - Type Analysis
- Truck Mounted Mobile Pump
- Truck Mounted Static Pump
- Truck Mixer Concrete Pump
Truck-mounted concrete pump Market - End Use Analysis
Truck-mounted concrete pump Market - Country Analysis
Global Truck-mounted Concrete Pump Market: http://www.transparencymarketresearch.com/truck-mounted-concrete-pump-market.html
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SOURCE Transparency Market Research