The construction industry has been growing rapidly, and the demand for concrete pumps has been on the rise. Concrete pumps are machines used to transfer liquid concrete from the mixer to the desired location on the construction site. They provide a cost-effective, efficient, and precise method of placing concrete, thereby reducing the need for manual labor.
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The concrete pumps market size was valued at $3,800.0 million in 2019, and is projected to reach $4,853.2 million by 2027, registering a CAGR of 4.0% from 2020 to 2027. A concrete pump is a machine used to transfer liquid concrete by means of pumping. The pump operates by one piston drawing liquid concrete into a cylinder from a hopper, while the other simultaneously pushes its concrete out into the discharge pipes.
Types of Concrete Pumps
There are two main types of concrete pumps – boom pumps and line pumps. Boom pumps are mounted on a truck or a trailer and are used for high-rise buildings and large construction projects. They have a long reach and can place concrete in difficult-to-reach areas. Line pumps, on the other hand, are smaller and more compact, and are used for smaller construction projects.
Regional Analysis
North America is the largest market for concrete pumps, followed by Europe and Asia-Pacific. The growth of the market in North America can be attributed to the increasing demand for infrastructure development projects and the presence of leading manufacturers in the region. Europe is expected to grow at a significant rate due to the rising construction activities in the region.
Asia-Pacific is expected to be the fastest-growing market for concrete pumps due to the increasing construction activities in emerging economies such as China and India. The growth of the market in the region can also be attributed to the increasing demand for high-rise buildings and infrastructural development projects.
Furthermore, increase in trend of high-rise buildings, complex designs, megastructure construction, and complicated structural plan and rise in strain for the delivery of projects result in the demand for high capacity, increased output, and improved productive concrete pumps, which, in turn, is anticipated to offer remunerative opportunities for the expansion of the global market. In addition, extensive R&D activities conducted by equipment manufacturers would enable them to develop low-cost machines with improved fuel efficiency and lower carbon emissions. For example, Germany-based concrete pump manufacturer, Schwing GmbH offers concrete pumps with an open loop hydraulic circuit, which results in high fuel efficiency, owing to less heat generation and efficient energy transfer. It saves at least 12% more fuel than the similar pump of competition.
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Key Players
The global concrete pumps market is highly fragmented, with several players operating in the market. Some of the key players in the market include Putzmeister Holding GmbH, Schwing Stetter GmbH, Liebherr Group, Sany Group, Zoomlion Heavy Industry Science and Technology Co., Ltd., XCMG Group, Alliance Concrete Pumps Inc., Concord Concrete Pumps, Junjin Heavy Industry Co., Ltd., and KCP Heavy Industries Co., Ltd.
The global concrete pumps market is expected to grow at a significant rate due to the increasing demand for infrastructure development projects and the rising construction activities in emerging economies. Boom pumps and line pumps are the two main types of concrete pumps used in the industry. North America is the largest market for concrete pumps, followed by Europe and Asia-Pacific. Innovation and product development are key strategies adopted by the key players in the market to gain a competitive advantage.
Key Benefits For Stakeholders
- The report provides an extensive analysis of the current and emerging concrete pumps market trends and dynamics.
- In-depth market analysis is conducted by constructing estimations for the key segments between 2019 and 2027.
- Extensive concrete pumps market analysis is conducted by following key product positioning and monitoring of the top competitors within the market framework.
- A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
- The global concrete pumps market forecast analysis from 2020 to 2027 is included in the report.
- The key market players operating in the market are profiled in this report, and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the concrete pumps market.
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