The
top six players in the global truck mounted concrete pump market accounted
for around 95% of the market in 2016, hinting at an extremely consolidated
vendor landscape. It is noted by Transparency Market Research in a recent
report that these organizations – SCHWING, LIEBHERR, Concord Concrete Pumps,
XCMG, Zoomlion Heavy Machinery Co. Ltd., and Sany Group & Putzmeister hold
strong foot in the market with their expanding portfolios for global business
operations.
Competition
level is high among the leading organization and is said to remain same
throughout the forecast period. To strengthen their positions in the global
market, these companies are concentrating on aggressive pricing, reaching out
to larger communities through expanding in new regional markets, and collaborating
with other promising players.
It is
estimated by TMR that the world truck mounted concrete pump market will show a
5.8% CAGR between 2017 and 2025, rising from a valuation of US$2.79 bn in 2016
to US$4.64 bn by 2025.
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Increase
in Construction Activities Leads to High Demand in Truck Mounted Mobile Pumps
in Asia Pacific Region
Of the key
truck mounted concrete pump varieties covered in the report, the segment of
truck mounted mobile pumps is presently the leading contributor to the world
market. Demand for mobile pumps is likely to rise steadily throughout the
forecast period as well, thanks to their increased usage in both small and big
construction sites across the world. The Asia Pacific region, in terms of the
market for truck mounted concrete pump market is dominating the rest of world,
with a 55% of global share. Booming infrastructure development sector in
developing countries such as China, Thailand, Vietnam, Indonesia, India,
Malaysia, and some more countries in Southeast Asia region have surged the need
for construction tools, as a result the demand has increased exponentially.
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Steady Pace of Urbanization for
better lifestyles helps in the growth of World Truck Mounted Concrete Pump
Market
Rise in the
use of precast concrete structures across tons of construction projects
accompanied by high impact of certain political and economic factors
surrounding the construction sector across a number of countries have become a
threat to the growth prospects of the global truck mounted concrete pumps
market. These factors have made a negative impact on the market by bringing
down demand and restraining R&D activities as companies focus on other
lucrative businesses.
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Despite
this, it has been seen that the steady pace of urbanization of several cities
in emerging economies is presenting promising growth avenues before the market.
Governments are spending increased funds and resources towards infrastructure
development projects in order to meet the requirements of a rising population
that wants to shift towards urban settings for better lifestyles, healthcare,
and infrastructure in regions such as Latin America, Asia Pacific, Middle East,
Oceanic Sub Region, South America, and Africa. Thus has resulted in the
stream of construction across the world leading to a high demand for concrete
pumps. It is expected that in the coming years these factors will continue to
motivate to a healthy growth in global market.
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