Press release
Concrete Mixer Market Is Expected To Be Valued at US$ 9.1 Billion by 2033
Concrete mixer sales are expected to reach US$ 9.1 billion by the end of 2033 from an estimated US$ 6.5 billion in 2023. Over the study period (2023 to 2033), the worldwide concrete mixer market is expected to grow at a CAGR rate of 3.4%.The concrete mixer market is a pivotal component of the construction industry, playing a vital role in the preparation and mixing of concrete for a wide range of construction projects. These projects encompass residential, commercial, industrial, and infrastructure developments, and the demand for concrete mixers is intricately linked to the overall performance and growth of the construction sector. Economic development, urbanization trends, and the execution of large-scale infrastructure projects significantly contribute to the demand dynamics of concrete mixers.
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The construction equipment industry is already heavily reliant on connected technology, as evidenced by the emergence of GPS-powered and IoT-enabled concrete mixers in recent years. Smart operations, reduced ownership costs, and increased fuel efficiency are the main characteristics that have increased sales of smart concrete mixers and promoted their efficacy.
Concrete Mixer Market Drivers:
Large-scale infrastructure development projects stand out as a key driver, encompassing the construction of highways, bridges, airports, and urban development initiatives. The relentless need for concrete in these ambitious ventures underscores the importance of efficient and reliable concrete mixers.
Technological advancements represent another pivotal driver, with the integration of cutting-edge technologies like automation, digital controls, and improved mixing mechanisms. These innovations not only enhance the overall efficiency of concrete mixers but also contribute to heightened precision and sustainability in the concrete mixing process.
Sustainability considerations have become increasingly crucial in driving market trends. Growing environmental awareness and stringent regulations advocating for sustainable construction practices have led to the development of eco-friendly concrete mixers. Manufacturers are now under pressure to create equipment that minimizes environmental impact by reducing waste, energy consumption, and emissions.
Key Companies Profiled in This Report
• Caterpillar
• KYB Conmat Pvt. Ltd.
• Sinotruk Hong Kong Ltd.
• Shantui Construction Machinery Co. Ltd.
• Akona Engineering Pvt. Ltd.
• Zoomlion Heavy Industry Science & Technology Co. Ltd.
• Lino Sella World
• Metalgalante SPA
• Altrad Investment Authority SAS
• Liebherr-International AG
• SANY GROUP
• Xuzhou Construction Machinery Group Co. Ltd.
• ATIKA Gmbh
• Jaypee India Limited
• Henan EP Machinery Co. Ltd.
• Henan Sanq Group Machinery Co. Ltd.
• Universal Construction Machinery & Equipment
• Yiwu Shanghong Hardware Factory
• Laizhou Zhishan Machinery Co. Ltd.
• Safari Construction Equipments Pvt. Ltd.
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Competitive Landscape
• Renault Truck UK and TVS Interfleet collaborated and created an e-mixer that was the first of its kind all-electric concrete mixer available in the United Kingdom in 2023 with zero emissions per mile and saving around 42 tonnes of CO2 emissions per year.
• In September 2023, Te-rex Corporation, a renowned manufacturer of material handling equipment based in the United States, announced that it would start offering hydrogen engines in its concrete mixer trucks soon. The engines would come from Cummins, a leading provider of engines and engine components as it signed a letter of intent to integrate the X15H engine with the Te-rex Advance Commander Series.
• In October 2019, Schwing Stetter India, a renowned Indian concrete equipment provider, announced the launch of its new concrete truck mixers in collaboration with Mahindra Powerol. The newly launched Stetter Super 7 mixers were IoT-ready.
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