ALBANY, New York, June 21, 2018 /PRNewswire/ --
The global Concrete Pumps Market was valued at US$ 3.5 Bn in 2017 and is anticipated to expand at a CAGR of more than 6% from 2017 to 2026, according to a new report titled 'Concrete Pumps Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017- 2026" published by Transparency Market Research (TMR).
Concrete pump is a machine utilized for transporting liquid concrete through pumping. A common type of concrete pump is the one attached to a truck. Growth of the concrete pumps market is highly dependent on construction activities. Shift toward clean energy is expected to drive the demand for concrete pumps in the near future. Upsurge in construction activities across the globe has led to a significant rise in demand for construction equipment, such as, concrete pumps. These factors are likely to continue to drive the global concrete pumps market during the forecast period.
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Across segments of the construction industry, demand for concrete pumps has been strongly influenced by the wide-scale construction activities in various developing and developed countries.
Rise in concern about economic recession and delay in projects
Unforeseen political scenario across the globe is likely to delay or abandon infrastructure activities due to political instability and insufficient funding. Moreover, construction activities are likely to be hampered due to economic recession, causing delay in multiple projects. This, in turn, can hamper the demand for concrete pumps. Rise in concern regarding the environment is likely to compel industries to adopt concrete pumps as a necessary solution in order to gain public acceptance. High installation cost of concrete pumps can be a restraining factor, especially for small-scale industries with inadequate capital.
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Truck mounted concrete pumps segment is anticipated to expand significantly
In terms of type, the truck mounted concrete pumps segment currently holds a major share of the global concrete pumps market due to their ability to pump large quantity of cement slurries for high-rise buildings quickly and efficiently. Development of the construction industry in Europe and Asia Pacific has propelled the demand for truck mounted concrete pumps. The stationary concrete pumps segment is likely to expand at a CAGR of more than 5% during the forecast period, followed by the specialized concrete pumps segment during the forecast period.
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Innovation, quality improvement, and recent developments in concrete pumps
Concrete pump manufacturers are focusing on making compact truck mounted concrete pumps by reducing the weight of the components, without affecting the optimum efficiency of the product. This can help reduce the price of concrete pumps considerably. Concrete pumps can be operated through radio remote control from distant locations.
Asia Pacific to lead concrete pumps market
Asia Pacific is estimated to emerge as one of the prominent markets for concrete pumps during the forecast period. Environment-conscious Europe and North America are projected to lead the global concrete pumps market in the near future. The concrete pumps market is projected to witness a large number of collaborations among manufacturers and technology developers during the next few years. Over the years, China has become a strategic center for development of concrete pumps. This is projected to boost the demand for concrete pumps systems in Asia Pacific in the near future.
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Highly competitive market with domination of top players
The global concrete pumps market is highly competitive. In order to acquire higher market share, companies operating in North America, Middle East & Africa, and Asia Pacific are rapidly expanding their production facilities of concrete pumps. Leading players are dominating the market. Key players operating in the concrete pumps market are Zoomlion Heavy Machinery Co. Ltd, SCHWING GmbH, Sany Group, and LIEBHERR Group.
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Concrete Pumps Market, by End-user Industry
Concrete Pumps Market, by Type
- Truck Mounted
Concrete Pumps Market, by Region
- North America
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
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SOURCE Transparency Market Research