Thetop six players in the global truckmounted concrete pump market accounted for around 95% ofthe market in 2016, hinting at an extremely consolidated vendorlandscape. It is noted by Transparency Market Research in a recent reportthat these organizations – SCHWING, LIEBHERR, Concord Concrete Pumps, XCMG,Zoomlion Heavy Machinery Co. Ltd., and Sany Group & Putzmeister hold strongfoot in the market with their expanding portfolios for global businessoperations.
Competitionlevel is high among the leading organization and is said to remain samethroughout the forecast period. To strengthen their positions in the globalmarket, these companies are concentrating on aggressive pricing, reaching outto larger communities through expanding in new regional markets, andcollaborating with other promising players.
It isestimated by TMR that the world truck mounted concrete pump market will show a5.8% CAGR between 2017 and 2025, rising from a valuation of US$2.79 bn in 2016to US$4.64 bn by 2025.
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Increasein Construction Activities Leads to High Demand in Truck Mounted Mobile Pumpsin Asia Pacific Region
Of the keytruck mounted concrete pump varieties covered in the report, the segment oftruck mounted mobile pumps is presently the leading contributor to the worldmarket. Demand for mobile pumps is likely to rise steadily throughout theforecast period as well, thanks to their increased usage in both small and bigconstruction sites across the world. The Asia Pacific region, in terms of themarket for truck mounted concrete pump market is dominating the rest of world,with a 55% of global share. Booming infrastructure development sector indeveloping countries such as China, Thailand, Vietnam, Indonesia, India,Malaysia, and some more countries in Southeast Asia region have surged the needfor construction tools, as a result the demand has increased exponentially.
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Steady Pace of Urbanization forbetter lifestyles helps in the growth of World Truck Mounted Concrete PumpMarket
Rise in theuse of precast concrete structures across tons of construction projectsaccompanied by high impact of certain political and economic factorssurrounding the construction sector across a number of countries have become athreat to the growth prospects of the global truck mounted concrete pumpsmarket. These factors have made a negative impact on the market by bringingdown demand and restraining R&D activities as companies focus on otherlucrative businesses.
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Despitethis, it has been seen that the steady pace of urbanization of several citiesin emerging economies is presenting promising growth avenues before the market.Governments are spending increased funds and resources towards infrastructuredevelopment projects in order to meet the requirements of a rising populationthat 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 thestream of construction across the world leading to a high demand for concretepumps. It is expected that in the coming years these factors will continue tomotivate to a healthy growth in global market.
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