Global Truck Mounted Concrete Pump Market Insights and Trends, Positive and Negative Factors, Areas to Focus on, Potential Markets, Key Developments, Segments and Verticals, and Forecast 2019 – 2028

The Truck Mounted Concrete Pump Market Report has been divided on the basis of type, end-use application, and region.

Truck Mounted Concrete Pump: Product Overview

“The Truck Mounted Concrete Pump Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

Truck-mounted concrete pumps are among the key components in the construction industry, wherein remote-controlled robotic arms lift and pour cement in large volumes to speed up the construction process.

There are several key benefits offered by truck-mounted pumps and the robotic arm mechanism, commonly known as ‘boom’.

Apart from improving efficiency and productivity of the construction process, the concrete pumps reduce reliance on human labor, which is often costly in developing countries, and provide longer working hours, necessary for rapid completion of large construction projects.

Truck Mounted Concrete Pump Market: Growth Supporting and Hampering Forces

Drivers: The global truck-mounted concrete pump market is expected to witness significant growth, mainly driven by the rapidly growing construction industry in developed and developing countries, especially in countries such as China, India, and Brazil.

The market is also expected to be driven by low-interest rates, growing urbanization, and urban trends such as building skyscrapers making it essential to use mechanized processes to complete construction activities in a rapid manner.

These major factors are also aided by increasing household incomes in several emerging countries, which is expected to lead to funding for more private as well as public construction projects.

Additionally, the market would face encouraging conditions during the forecast period as increasing government-private partnerships and government initiatives around the world are expected to aid in the growth of the global truck-mounted concrete pump industry.

Also, growing advancements in concrete pump technology as well as emerging needs to modernize the construction process are expected to spur the growth of the global concrete pump market.

For instance:

• According to the US Census Bureau, the total number of authorized permits for new building construction went up to US$ 1,308.8 Bn in October 2018 from US$ 1,247.5 Bn in 2017, registering a growth of 4.9% from the previous year

• According to Timetric’s Construction Intelligence Center (CIC), the Chinese construction industry rose in value from US$ 2.0 Trillion in 2014 to US$ 2.5 Trillion in 2019. China's revenues increased by 8% or more as demand remains strong, mainly in the country's transport infrastructure segment.

• As per International Institute for Environment and Development – the ‘Belt and Road Initiative program initiated in September 2013, aims to strengthen China's rail, road, and sea-based infrastructure across Asia, Europe, Africa, and Latin America.

• PwC has sponsored a new report – Global Construction 2030 – which forecasts that the volume of construction output will increase by 85% to reach a value of US$ 15.5 Trillion worldwide by 2030, with three countries – China, the US, and India – leading the way and accounting for 57% of all global growth

Restraint: Growing cost of construction projects and political and economic issues are factors that could act as a barrier to growth in the upcoming future.

Truck Mounted Concrete Pump Market Regional Analysis:

The truck-mounted concrete pump market in North America is expected to hold a dominant position in terms of revenue share in the global market over the next few years.

Higher and earlier adoption of new technology, essential access to capital flow, and emerging need on the horizon to improve public infrastructure are expected to drive the concrete pump market in the region.

The Asia Pacific market is expected to register the highest growth in the global market due to growing construction developments in major emerging countries such as India, China, and Brazil.

In emerging countries, infrastructure has become the immediate crucial point for private as well as government, which is likely to boost demand for major construction projects in the near future.

Truck Mounted Concrete Pump Market Segmentation:

Segmentation, by Type:

• Truck Mounted Concrete Pumps
• Stationary Concrete Pumps
• Specialized Concrete Pumps

Segmentation, by End-use Application:

• Industrial
• Commercial
• Residential

Segmentation, by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa