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Concrete Pumps Market Outlook & Growth Analysis, 2020–2027 | Key Drivers, Restraints & Opportunity
Concrete Pumps Market
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Concrete Pumps Market by Type (Truck-mounted Concrete Pumps, Stationary Concrete Pumps, and Specialized Concrete Pumps) and Industrial Verticals (Industrial, Commercial, and Domestic)
The commonly available types of concrete pumps are truck mounted concrete pumps, stationary concrete pumps, and specialized concrete pumps. Among these, the truck-mounted concrete pumps segment dominates the global market, in terms of value, owing to increase in demand from various industries such as construction and mining. The market is analyzed with respect to different industrial verticals such as industrial, commercial, and domestic.
Increase in demand for concrete pumps, owing to the implementation and planning of infrastructure projects is anticipated boost the global concrete pumps market growth during the forecast period. Furthermore, the growth of the global concrete pumps market is majorly driven by development in residential, commercial, & industrial construction sectors. However, volatile economic conditions in Latin America limit the growth of the concrete pumps market.
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Covid-19 Impact Analysis
The outbreak of COVID-19 has a negative impact on the manufacturing and production of concrete pumps in the first quarter of 2020, and is likely to hamper the market growth throughout the year. This has further affected the demand for concrete pumps from developing countries, including India, Brazil, Vietnam, and India, thereby halting the production activities. In addition, the disruption of supply chains is causing hindrance in manufacturing of the concrete pumps around the globe.
Geographic Review
Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific was the highest revenue contributor in 2019, and is expected to exhibit the highest CAGR from 2020 to 2027. This is attributed to the fact that emerging economies in the region are witnessing increase in infrastructural development and increase in construction projects. Moreover, rapid economic recovery significantly drives the market growth in this region.
Key Players
The key players profiled in the concrete pumps market report include Ajax Fiori Engineering, Alliance Concrete Pumps, Concord Concrete Pumps, DY Concrete Pumps, Junjin, Liebherr, PCP Group, Sany, Schwing Stetter, and Sebhsa.
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