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Truck Mounted Concrete Pump Market Present Scenario and the Growth Prospects with Forecast 2024
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Rapid growth in the construction sector in Middle East & North Africa benefitting the truck mounted concrete pump market in the region
Truck mounted concrete pumps are used for the efficient transportation of liquid concrete, especially in the construction industry. Increasing demand for multistory buildings, skyscrapers, and development projects in the Middle East and Africa region is anticipated to drive the truck mounted concrete pump market. Construction of tunnels, airports, seaports, high speed rail sites, and beam fields are also boosting the market for truck mounted concrete pumps. Below are some of the ongoing construction projects in the MENA region that are likely to give a fillip to the MENA truck mounted concrete pump market.
The Grand Egyptian Museum, also known as Giza Museum, is an ongoing construction project in Egypt. The project, which costs around US$ 795 Mn is expected to contribute to development of the tourism industry and creation of more job opportunities. The estimated year of completion of the project is 2022. Iran is planning to construct its second nuclear power plant in the southern port city of Bulshehr. Construction of this project, which costs US$ 8.5 Bn, is likely to commence by 2018. The project is aimed at producing 1057 MW of electricity.
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Algeria has started building a giant mosque in 2012. It is anticipated to be one of the largest mosques in the world and will have the world’s tallest minaret. Construction of this project is estimated to cost US$ 1.4 Bn and will be completed in 2018. Morocco has started constructing the Casablanca road network, to be developed with the cost of US$ 316 Mn. The ongoing project work is estimated to be accomplished by 2020.
The Omagine Pearl Project in Oman, costing US$ 2.5 Bn, is scheduled to commence by 2017. The project features seven pearl-shaped buildings. The project is anticipated to create more than 1000 jobs and the date of completion is 2024. Sobha Hartland, a mixed used development project in Dubai, is expected to be completed by 2017. The ongoing project costs US$ 4 Bn. It focuses on villas as well as modern, high-rise apartments.
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