Press release
Concrete Pumps Market to Witness Substantial Growth, Outlook and Analysis 2027
concrete pumps market
Concrete pumps play a vital role in transferring liquid concrete from containers to construction sites, primarily for building purposes. Widely utilized in various construction projects such as railways, commercial structures, and residential buildings, these pumps serve as efficient alternatives to manual labor in the construction industry.
The anticipated surge in construction activities is poised to significantly drive the demand for concrete pumps. Factors such as rapid urbanization, evolving lifestyles, the emergence of new households, and the increasing mechanization of construction processes are expected to fuel the growth of the global concrete pump market in the foreseeable future.
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The global concrete pumps market size was valued at $3.8 billion in 2019, and is projected to reach $4.8 billion by 2027, registering a CAGR of 4.0% from 2020 to 2027. Concrete pump is a construction equipment, which is mounted on a truck used for construction activities.
Concrete pumps facilitate the seamless transfer of liquid concrete from storage containers to job sites, particularly catering to the needs of construction projects. They find extensive application across a spectrum of construction endeavors, ranging from large-scale infrastructure projects like railways to smaller-scale developments including commercial and residential buildings. As a result, concrete pumps are integral components within the construction sector, serving as efficient substitutes for manual labor.
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Overview:
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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Top 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.
Regional Analysis:
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.
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