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The Concrete Mixer Market size is forecast to increase by USD 4.55 billion, at a CAGR of 5.31% between 2023 and 2028. The market's growth hinges on multiple factors, notably the expanding construction sector, widespread uptake of smart concrete, and the cost-effectiveness of maintaining concrete roads. The construction industry's ongoing expansion fuels demand, with projects ranging from infrastructure to residential and commercial developments. The integration of smart concrete, leveraging technologies like IoT sensors for real-time monitoring and data analytics, drives efficiency and durability. Additionally, the comparatively low maintenance costs associated with concrete roads compared to alternative materials make them increasingly attractive for long-term infrastructure planning. These factors collectively contribute to a positive trajectory for the concrete market, emphasizing sustainability, innovation, and economic viability.
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Our analysis of the adoption life cycle of the market indicates its movement between the innovator's stage and the laggard's stage. The report illustrates the lifecycle of the market, focusing on the adoption rates of the major countries. Technavio has included key purchase criteria, adoption rates, adoption lifecycles, and drivers of price sensitivity to help companies evaluate and develop growth strategies from 2022 to 2027.
Market Customer Landscape
The market is fuelled by escalating construction activities globally, spurred by rapid urbanization and a rising population. Demand for mixer trucks and mixing plants is soaring due to largescale construction projects like concrete roads, power plants, and harbors. Embracing sustainability goals, the industry is transitioning towards electric concrete mixers and cleaner construction equipment. Challenges include mitigating losses through efficient fleet management amid economic stability concerns and the need for substantial infrastructure investment in road construction, bridge repair, and public transportation projects. Our researchers studied the data for years, with 2023 as the base year and 2024 as the estimated year, and presented the key drivers, trends, and challenges for the market.
The increasing expansion of the construction industry is driving growth in the mixer market. The increased number of housing constructions, which are projected to be a key factor driving the growth in the world market for concrete mixers during the forecast period, will be driven by growing building and renovation activities as a result of Global Economic Development, rising income levels, increase in urbanization or rise in living standards. The rising commitment among this industry stakeholders toward green construction, energy efficiency, and the main selling point of the dry building industry is also that it uses modern materials to build buildings. The mobile market is expected to witness growth across all regions during the forecast period.
Moreover, the rise in residential and commercial building activities and increasing investments in infrastructure development in several countries, such as India, the US, and China across the world will present considerable opportunities for global market growth. The Global Market is expected to grow due to the growing adoption of sustainable infrastructure building, new building standards, and a focus on energy savings in buildings. Furthermore, factors such as the increase in disposable incomes in emerging economies, rapid industrialization, the changing preference for and perception of sustainable building practices, and the durability of such buildings are expected to drive the growth of the focused market during the forecast period.
The increasing demand for precast concrete for non-residential construction is a primary trend in market companies. Precast concrete is the kind of cement used for mixing, blending, and drying in reusable molds that are manufactured on-site. This procedure is normally carried out in a controlled manufacturing setting, where precast concrete parts can be linked to make a full structure. Precast concrete may be more affordable and, in some cases, even more, useful than conventional infrastructure building materials.
Moreover, precast concrete elements are used in the construction and building sector for non-residential purposes. This is having a significant impact on the time needed for construction, worker numbers, and costs. The gradual shifting of building contractors and customers toward eco-friendly, cost-effective, modern building designs, especially in non-residential infrastructure building, would increase the demand for concrete. The demand for concrete mixers will therefore be driven by these factors. Furthermore, an increase in the disposable income of people and changing infrastructure building methods from conventional to modern are driving the growth of the focused market during the forecast period.
The growing second-hand machine market is a major challenge in a major in the market. High labor costs and strict pollution legislation have led to the closure of several manufacturing and mining sectors both in the US and Europe, particularly in countries like Romania and Germany. As a result, second-hand machines are more easily available. Since many manufacturing industries have moved to APAC, owing to the low-cost manufacturing facilities in the region, secondhand machines from the US and Europe are being used, especially in emerging economies such as China, India, and Pakistan. In addition, among European manufacturers of construction machinery, China is a major market for used machines. Therefore, in the forecast period, there will be a reduced demand for new cement mixers due to an increasing secondhand machine market.
However, to achieve flexibility and respond to the current market conditions, mining and construction companies prefer leasing machinery over a long period according to their requirements for building projects. This helps construction and mining companies save the cost of buying new equipment as well as the associated maintenance costs. For a specified period, infrastructure building equipment may be rented to the mining or construction company and it may also be used by other companies once projects have been completed. Thus, the steady growth of the global mobile concrete mixer rental market is expected to challenge the growth of the global market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
We also have detailed analyses of the market's competitive landscape and offer information on 20 market companies, including:
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The market growth analysis classifies companies based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The industry, marked by Largescale construction and Concrete roads, is a cornerstone of global development. However, it faces challenges like Losses due to inefficiencies and rising costs. The backdrop of Rapid urbanization and a Rising population demands innovative solutions for sustainable construction activity. Concrete infrastructure, including Power plants, Dams, and Harbors, relies heavily on Concrete mixing plants and Concrete mixer trucks for efficient operations. As Global Construction trends towards Cumulative construction projects, the need for Commercial transportation in the industry grows. Achieving sustainability goals is paramount, leading to the adoption of electric concrete mixers and cleaner construction equipment with advanced mixing capabilities. Efficient fleet management solutions, coupled with real-time tracking and continuous mixing technologies like fixed batch mixers and continuous mixers, enhance productivity and reduce environmental impact.
The mixing plants segment will account for a major share of the market's growth during the forecast period. A concrete mixing plant is a machine that mixes and blends the ingredients of concrete, such as cement, aggregates, and water, homogeneously to produce concrete of desired strength and quality. Concrete mixing plants are composed of two types, which include mainly Ready-Mix Plants and Central Mix Plants.
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The mixing plants segment was valued at USD 8.22 billion in 2018. The precise way this concrete is produced results in lesser wastage, thus leading to less pollution and higher energy conservation. In addition, businesses do not need to store ready mix concrete at their premises to eliminate storage costs. As a result, demand for mixing plants is set to increase over the forecast period and that will in turn lead to increased growth of the construction mixer market worldwide.
Based on application, the market has been segmented into non-residential and residential. The non-residential segment will account for the largest share of this segment. A considerable number of non-residential buildings, including offices, hospitals, educational institutions, retail stores, and malls, utilize dry infrastructure building owing to its various advantages, including cost-effectiveness and reduced wastage, over brick-and-mortar construction. Because it finds extensive use in office buildings and thus needs a mobile concrete mixer for its construction work, dried architecture may be able to temporarily change offices or retail areas according to the requirements of the business entity.
Moreover, the growing demand for office space in metropolitan cities, such as Bengaluru or Delhi, is driven by the rapid expansion of India's services sector, which includes IT, telecommunication, and outsourcing to foreign companies. Thus, India has become one of the top destinations for business real estate investments. A sizable proportion of these investments was in commercial construction, including offices and retail space and the hospitality sector. Similarly, Malaysia and Saudi Arabia are planning to develop their major cities as commercial business hubs, which is expected to draw considerable investments for the construction market.
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APAC is estimated to contribute 58% to the growth by 2028. Technavio's analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period. In APAC, the increasing number of construction projects is expected to drive the regional market during the forecast period. The growth of the region's economy is expected to be driven by increased infrastructure and construction activities, particularly in India, China, Japan, Thailand, Indonesia, and the Philippines.
In addition, the Asia Pacific region's tourism industry also contributes to the development of this market for Concrete Mixers. Precast products are mainly used for restaurants, hotels, and resorts in the tourism sector. The growing per capita income and the rising standards of living have further increased the demand for precast concrete in the region. This is due to increased development of the housing and business sector, e.g. multipartite buildings, shopping malls, tech parks, or retail stores. Therefore, a rise in the construction and industrial sectors will drive the growth of the regional market during the forecast period.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments
The rapid urbanization and rising population globally have catalyzed a boost in construction activity, necessitating advanced infrastructure like power plants, dams, and harbors. This has fueled the demand for large-scale construction equipment, particularly concrete mixer trucks, which are vital in global construction endeavors. In this landscape of cumulative construction, a pivotal shift is seen towards commercial transportation tools, such as fire trucks, aiding construction growth and residential construction alike. An urgent focus on affordable housing and sustainable communities has brought attention to bridges, urban infrastructure, and the retrofitting of existing structures.
Moreover, to ensure longevity and efficiency, regular maintenance is crucial, often enhanced by telematics for monitoring and controlling mixing processes. The integration of real-time data analytics and predictive maintenance aligns with environmental consciousness, promoting eco-friendly materials and lightweight, recyclable components to reduce emissions and achieve sustainability goals. The advent of electric concrete mixers and cleaner construction equipment has revolutionized mixing capabilities and efficient fleet management, bolstered by real-time tracking and continuous mixing technologies like fixed batch mixers, continuous mixers, and portable batch mixers. These advancements not only ensure economic stability but also drive infrastructure investment for road construction, bridge repair, public transportation projects, and facility expansionsâushering in an era of smarter, more sustainable concrete solutions.
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Industry Scope |
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Report Coverage |
Details |
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Page number |
153 |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.31% |
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Market growth 2024-2028 |
USD 4.55 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
4.76 |
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Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 58% |
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Key countries |
China, US, Germany, India, and Japan |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Akona Engineering Pvt. Ltd., Altrad Group, Caterpillar Inc., Crown Construction Equipment, Gaode Equipment Co. Ltd., Guangxi LiuGong Machinery Co. Ltd., Henan DASION Machinery Co. Ltd., ITOCHU Corp., Jurong Topall Machinery Co. Ltd., Kushlan Products LLC, Liebherr International Deutschland GmbH, Lino Sella Srl , Right Manufacturing Systems Inc., SANY Group, Shandong Heavy Industry Group Co. Ltd., Speedcarfts Ltd., Terex Corp., The Toro Company, Zhengzhou great wall machinery manufacture Co. ltd. , and Zoomlion Heavy Industry Science and Technology Co. Ltd. |
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Market dynamics |
Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the market forecast period. |
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Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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