Concrete Pumps Market – Technological Advancements, Evolving Industry Trends and Insights 2017 – 2026
The global concrete pumps market features an increasingly competitive landscape, notes Transparency Market Research. A majority of shares are in the hands of relatively few players. Numerous engineering companies in the concrete pumps market are launching technologically-advanced concrete pumps solutions.
The adoption of these solutions help meet the wide diversity of current as well as emerging needs in the construction industry, especially in emerging industrial nations. Key players looking to expand their production facilities in North America, the Middle East and Africa, and Asia Pacific, in order to consolidate their positions in the concrete pumps market.
The global concrete pumps market stood at US$3.5 bn in 2017 and is projected to clock a CAGR of over 6% during 2017 – 2026.
Rising Application in Large Construction Projects propel Demand
The global concrete pumps market rides on the back of strides made construction activities, where the pumping technology is employed for transporting liquid concrete. Rapid pace of urbanization and burgeoning industrialization in various developing economies have created ample scope for construction activities across the globe. This in turn is propelling the growth in the global concrete pumps market.
Rising demand for concrete pumps for high-rise buildings in urban dwellings in developing and developed countries are expected to contribute substantial revenues in near future.
Growing focus on clean energy technologies in residential and industrial constructions is creating large lucrative avenues for manufacturers and vendors of concrete pumps. This has stimulated constant technological advancements in these equipment by manufacturers. The enormity of construction projects in countries such as India, China, and Brazil is spurring the demand for concrete pumps.
Rising demand for concrete pumps technologies for specialized jobs is bolstering the prospects of the global concrete pumps market. These need higher capacity concrete pumps in operations. Moreover, equipping concrete pumps with advanced components to make them useful in larger mobile applications bodes well for specialized applications.
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The residential segment to dominate the concrete pumps market
Concrete pumps are utilized for residential placements, including vertical and horizontal placement. Truck mounted concrete pumps are extensively employed for low-budget residential applications. Rise in investments in construction activities due to rapid industrialization and urbanizations propel demand for concrete pumps.
Development & innovation in product and technology
Recently, Putzmeister introduced latest concrete pump technologies such as free flow hydraulics, S-valve, cross outriggers, and highly wear resistant steel components. Launch of concrete pumps with advanced technologies in Asia Pacific is anticipated to help increase productivity in placement of concrete.
Demand for concrete pumps is likely to increase in Asia Pacific
Asia Pacific is estimated to emerge as a prominent market for the concrete pumps. High environment-consciousness in Europe and North America are projected to drive the global concrete pumps market in the near future. Large number of collaborations between manufacturers and technology developers during the next few years is likely to drive the concrete pumps market.
Highly competitive market with a few dominant players
The global concrete pumps market is a highly competitive, with a few dominant players. Key players operating in the concrete pumps market are Sany Group, Zoomlion Heavy Machinery Co, Ltd., LIEBHERR Group, SCHWING GmbH, PUTZMEISTER, Alliance Concrete Pumps Inc., Concord Concrete Pumps, and Apollo Infratech Pvt. Ltd.