Rising Demand for Truck-Mounted Concrete Pumps in Smart City Initiatives and Construction Projects Propel Market Growth

DUBLIN, Nov. 1, 2023 /PRNewswire/ -- The "Global Truck Mounted Concrete Pump Market (2023-2028) by Type, End-Use, and Geography, Competitive Analysis, Impact of Covid-19 and Ansoff Analysis" report has been added to  ResearchAndMarkets.com's offering.

The Global Truck Mounted Concrete Pump Market is estimated to be USD 4.78 Bn in 2023 and is expected to reach USD 6.92 Bn by 2028, growing at a CAGR of 7.67%.

Truck-mounted concrete pumps are specialized vehicles that combine a truck chassis with a concrete pump, allowing for efficient and rapid transfer of liquid concrete. These pumps utilize a remote-controlled articulated robotic arm, commonly referred to as a boom, to deliver concrete precisely to its desired location. Primarily utilized within the construction industry, these pumps offer significant advantages by enabling the quick and high-volume pumping of concrete, resulting in enhanced productivity and cost savings.

The global demand for truck-mounted concrete pumps is experiencing robust growth, largely driven by the ongoing urbanization process and the subsequent rise in construction activities. As cities expand and infrastructural development projects multiply, the need for efficient concrete placement becomes paramount. Truck-mounted concrete pumps address this demand by minimizing labor requirements while delivering superior accuracy and efficiency within a short timeframe.

Furthermore, the emergence of smart city initiatives in various countries and the booming tourism industry further contribute to expanding the construction sector worldwide. These factors necessitate the use of advanced machinery, such as truck-mounted concrete pumps, to meet the growing construction demands. Consequently, the increasing number of construction projects drives economic growth and creates job opportunities for local communities.

Also, favorable economic conditions, low-interest rates, and substantial investments by both governmental and private entities in construction projects play a pivotal role in shaping the truck-mounted concrete pump market. These factors create a conducive environment for companies operating in this sector, fostering lucrative growth prospects and encouraging further innovation in the industry.

However, the breakdown of concrete pumps leading to the halt of construction activities has a direct negative impact on the growth of the truck-mounted concrete pump market. Concrete pumps play a crucial role in the efficient and timely delivery of concrete to construction sites. When breakdowns occur, it disrupts ongoing construction projects and result in delays, additional costs, and loss of productivity. These setbacks discourage construction companies from investing in truck-mounted concrete pumps, as they require reliable and uninterrupted equipment to meet project timelines.

In addition to that, fluctuations in construction costs have a detrimental effect on the growth of the truck-mounted concrete pump market. Construction projects heavily rely on cost estimations and budget allocations, and unpredictable cost fluctuations create uncertainty and financial challenges for construction companies. Such fluctuations lead to budget constraints, delayed projects, or even cancellations, as companies may hesitate to invest in expensive equipment like truck-mounted concrete pumps. The uncertainty surrounding construction costs makes it difficult for businesses to make long-term investment decisions, challenging the growth of the truck-mounted concrete pump market.

Market Dynamics

Drivers

• Development of high-rise buildings and construction of commercial skyscrapers
• Increasing smart city projects in emerging countries

Restraints

• Breakdown of concrete pump leading to a halt in construction

Opportunities

• Rising economic conditions and substantial investments in construction by the government and private organizations

Challenges

• Fluctuations in construction costs

Companies Mentioned

• AB Volvo
• AJAX Engineering Pvt. Ltd.
• Alliance Concrete Pumps Inc.
• Caterpillar
• Daimler Truck Ag
• DY Concrete Pump Inc.
• Ford Trucks
• KCP Concrete Pumps Ltd.
• Kyokuto Kaihatsu Kogyo Co.,Ltd.
• Liebherr-International Deutschland GmbH
• Putzmeister Holding GmbH
• Sany Heavy Industry Co., Ltd.
• Scania
• Schwing America Inc.
• Sebhsa
• Sermac Srl
• XCMG Group
• Xuzhou Construction Machinery Co,Ltd.
• Zhejiang Truemax Engineering Co., Ltd.
• Zoomlion Heavy Industry Science & Technology Co., Ltd.

Market Segmentation

The Global Truck Mounted Concrete Pump Market is segmented based on Type, End-Use, and Geography.

• By Type, the market is classified into Truck Mounted Pumps, Stationary Pump, and Specialized Usage Pump.
  • The truck-mounted concrete pump segment holds the highest market share due to its high usage in the construction industry because it comprises a distinctive robotic arm that pumps out the liquid directly on the construction site.
• By End-Use, the market is classified into Commercial, Industrial, and Domestic.
  • The commercial segment holds the largest market share due to the expansion of industrialization, increasing commercial activities, and the development of smart cities, highways, business parks, shopping malls, etc.
• By Geography, the market is classified into the Americas, Europe, Middle East & Africa, and Asia-Pacific.
  • Asia-Pacific holds the largest market share due to the rapid adoption of advanced technology and heavy investments in huge infrastructure in emerging countries, including China and India.

Report Highlights:

• A complete analysis of the market, including the parent industry
• Important market dynamics and trends
• Impact Analysis - a comprehensive assessment to confront risk and make strategic & operational decisions to counter the changes in the market environment.
• Market segmentation
• Competitive Analysis: Comparative analysis of competitor
• Historical, current, and projected size of the market based on value and volume
• Market size of the US states
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market

For more information about this report visit https://www.researchandmarkets.com/r/138u61

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SOURCE Research and Markets