list of the Companies Profiled in the Market: Alliance Concrete Pump, Liebherr, Schwing Stetter, Ajax Fiori Engineering, Sany Heavy Industry Co.,DY Concrete Pump, PCP Group LLC, Xuzhou Construction Machinery Co,Ltd, Zoomlion Heavy Industry Science & Technology Co., Ltd, Zhejiang Truemax Engineering Co., Sebhsa, Concord Concrete Pump, Junjin
Pune, India, Aug. 19, 2021 (GLOBE NEWSWIRE) — The global Concrete Pump market is set to gain impetus from the increasing investments in research and development activities by numerous prominent manufacturers. In June 2021, for instance, SCHWING Americaannounced the expansion of the pumping season with a newly designed chassis forSX III, S 47, and S 43 SX. It would enable boom pump operators to drive on highways and roads according to Minnesota restrictions. As per a report by Fortune Business Insights™, in a report, titled, “Concrete Pump Market, 2021-2028,” the market size wasUSD 4.57 billion in 2020. It is projected to grow from USD 4.74 billion in 2021 to USD 6.61 billion in 2028 at a CAGR of 4.9% in the forecast period.
A list of renowned manufacturersoperating in the global market:
- Alliance Concrete Pump (Pennsylvania, the U.S.)
- Liebherr (Kirchdorf an der Iller, Germany)
- Schwing Stetter (Herne, Germany)
- Ajax Fiori Engineering (Karnataka, India)
- Sany Heavy Industry Co., Ltd. (Changsha, China)
- DY Concrete Pump (Calgary, Canada)
- PCP Group LLC (Florida, the U.S.)
- Xuzhou Construction Machinery Co,Ltd (Jiangsu, China)
- Zoomlion Heavy Industry Science & Technology Co., Ltd. (Hunan Province, China)
- Zhejiang Truemax Engineering Co., Ltd. (Hangzhou, China)
- Sebhsa (Girona, Spain)
- Concord Concrete Pump (Port Coquitlam, Canada)
- Junjin (China)
Report Scope & Segmentation -
| Report Coverage | Details |
| Forecast Period | 2021-2028 |
| Forecast Period 2021 to 2028 CAGR | 4.9 % |
| 2028 Value Projection | USD 6.61 Billion |
| Base Year | 2020 |
| Market Size in 2020 | USD 4.57 Billion |
| Historical Data for | 2017-2019 |
| No. of Pages | 120 |
| Segments covered | Product Type; Industry; Regional |
| Growth Drivers | Development of High-rise Buildings and Construction of Commercial Skyscrapers to Boost Growth. Severe Shortage of Labor and Need to Adopt Automation in Construction Industry to Aid Growth. |
| Pitfalls & Challenges | Breakdown of Concrete Pump Leading to Halt of Construction May Hinder Growth. |
COVID-19 Pandemic: Halt of Construction Activitiesto Obstruct Growth
The COVID-19 pandemic has halted construction activities happening across the globe because of stringent lockdown and social distancing norms. Many investors cancelled their plans to invest in the field of Concrete Pump, resulting in low cash liquidity. The International Labour Organization, for instance, declared that the Indian construction industry is facing severe problems post the two waves of COVID-19 because of the shortage of labourers. At the same time, the declining demand for commercial outlets in malls would hamper growth amid the pandemic.
Stationary Segment Held 13.2% Share in 2020: Fortune Business Insights™
Based on product type, the market is trifurcated into specialized, stationary, and truck mounted. Out of these, the stationary segment earned 13.2% in terms of the Concrete Pump market share in 2020. The truck mounted segment is set to remain dominant throughout the forthcoming years because of its ability to providehigh accuracy and precision.
Rising Development inMetropolitan Cities and Urbanization to Aid Growth
The rapid urbanization and development in metropolitan cities worldwide is set to propel the demand for high-rise buildings. These Pumps can transport the concrete mixture easily at far reaching high-rise buildings with ease. ANAROCK Property Consultants, for instance, mentioned that in the top 7 cities across India, 52% out of the total 1,816 housing projects in 2019 were high-rise buildings. They had a20 plus floor structure. However, the breakdown of these pumps at construction sites can lead to the waste of ready mix concrete and stop operations temporarily. It may hamper theConcrete Pump market growth in the upcoming years.
Competitive Landscape-
Key Players Focus on Introducing Novel Products to Intensify Competition
The global market contains a large number of companies that are presently striving to keep up with the high demand from customers worldwide. To do so, they are launching innovative products to attract more customers. A few others are trying to follow guidelines given by governments to prevent accidents. Below are the two significant industry developments:
- January2020:Putzmeister and Sany expanded its concrete product range at Excon 2019. The new product range includesPutzmeister BSF 47 – 5, Sany SYG5180THB300C-8, and Batching Plant MT 0.35.
- November 2020:Axio (Special Works) Limited had to provide a fine of £20,000 as one of its employees was injured by a concrete pump. As per aHSE inspector, proper guidelines should be followed while working with such equipment.
Post time: Oct-08-2022
