Thetop six players in the global truck mounted concretepump market accountedfor around 95% of the market in 2016, hinting at an extremely consolidatedvendor landscape. It is noted by Transparency Market Research in a recentreport that these organizations – SCHWING, LIEBHERR, Concord Concrete Pumps,XCMG, Zoomlion Heavy Machinery Co. Ltd., and Sany Group & Putzmeister holdstrong foot in the market with their expanding portfolios for global businessoperations.
Competitionlevel is high among the leading organization and is said to remain same throughoutthe forecast period. To strengthen their positions in the global market, thesecompanies are concentrating on aggressive pricing, reaching out to largercommunities through expanding in new regional markets, and collaborating withother promising players.
Itis estimated by TMR that the world truck mounted concrete pump market will showa 5.8% CAGR between 2017 and 2025, rising from a valuation of US$2.79 bn in2016 to 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
Ofthe key truck mounted concrete pump varieties covered in the report, thesegment of truck mounted mobile pumps is presently the leading contributor tothe world market. Demand for mobile pumps is likely to rise steadily throughoutthe forecast period as well, thanks to their increased usage in both small andbig construction sites across the world. The Asia Pacific region, in terms ofthe market for truck mounted concrete pump market is dominating the rest ofworld, 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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SteadyPace of Urbanization for better lifestyles helps in the growth of World TruckMounted Concrete Pump Market
Risein the use 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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The truck mounted concrete pump market hasbeen undergoing some remarkable growth dynamics, shaped increasingly by digitaltechnologies and environmental sustainability concerns of product development.Over the decades, the feedstock variability and the onslaught of cheapersubstitutes have squeezed in profit margins of the chemical and materialssector. On the other hand, the value chain of several businesses in the truck mounted concrete pump market hasundergone overhaul, increasingly rendering some aspiring players with greatercontrol over the forces and demand. The penetration of Industry 4.0 in in themarket has stirred game-changing trends for range of stakeholders in theoverall chemicals and materials sector. Manufacturing and productionenvironments of businesses in the truckmounted concrete pump market are keen on formulating andimplementing strategic frameworks that will turn them into digital enterprises.
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