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The concrete pump market share is expected to increase by USD 1.59 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 10.87%.
This concrete pump market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers concrete pump market segmentations by product (stationary concrete pump, specialized concrete pump, and truck-mounted concrete pump) and geography (APAC, North America, Europe, MEA, and South America). The concrete pump market report also offers information on several market vendors, including Concord Concrete Pumps Inc., JUNJIN Corp., KOREA FLANGE Co. Ltd., Kyokuto Kaihatsu Kogyo Co. Ltd., Liebherr-International AG, Putzmeister Holding GmbH Aichtal, Robert Bosch GmbH, SANY Group, SCHWING GmbH, and Zoomlion Heavy Industry Science and Technology Co. Ltd. among others.
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Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The cities evolving into megacities are notably driving the concrete pump market growth, although factors such as blockages in concrete pumps may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the concrete pump industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Concrete Pump Market Driver
The cities that are evolving into megacities are a major factor driving the global concrete pump market share growth. In 2016, more than half of the world's population lived in urban areas; the figure is expected to grow by a single-digit percentage by 2030, when one in every three people will be living in urban areas. In 2018, the number of megacities across the world was 33, and it is expected that by 2030, the number will increase by an additional 10. Rapid urbanization will be a key driver for the growth in the residential sector in the coming years, which in turn will produce huge demand for concrete pumps in the forecast period. Out of the 31 megacities, 77% are in developing or less developing countries. China is home to 6 megacities, whereas India has five megacities. The tremendous growth in these countries is likely to exhibit strong demand for residential units in the coming years. These countries are expected to witness vital residential unit construction in the coming years, which will further drive the demand for concrete pumps.
Key Concrete Pump Market Trend
The global platform for innovative products is another factor supporting the global concrete pump market share growth. The concrete and masonry industry caters to the residential, commercial, and infrastructure sectors. The industry needs constant innovations to address the needs of the present world. All vendors associated with the concrete and masonry industry submit their best innovative products to the concrete construction's most innovative product award program World of Concrete. This is an annual award show that recognizes new technologically innovative products in the concrete and masonry industry. There are various product categories that include segments such as materials for concrete construction, repair/demolition tools, materials, and equipment, and general construction tools, and equipment. Therefore, the market will continue to grow during the forecast period.
Key Concrete Pump Market Challenge
The blockages in concrete pumps will be a major challenge for the global concrete pump market share growth during the forecast period. The rise in the construction of high-rise buildings is resulting in increased demand for higher productivity pumps with longer-distance pumping options. However, longer distances and taller heights bring in challenges, such as blockages, pipeline installations, and wrong mixtures. These challenges pose a serious threat to the global concrete pump market. The basic reason for the blockage of concrete pumps is the use of the wrong mix, which leads to blockage and a decrease in productivity. Also, sometimes concrete does not retain its water mix, thereby resulting in the bleeding of concrete. Additionally, the use of poorly graded sand directly contributes to the bleeding of water through small voids formed due to the poor quality of sand. Another challenge is the insufficient mixing of the concrete, which leads to segregation of the mix. Blockages could also occur due to improper cleaning of the pipelines. Old concrete set on the walls of the pipeline can cause concrete segregation and bleed, and this hinders the global concrete pump market share growth.
This concrete pump market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Technavio categorizes the global concrete pump market as a part of the global heavy electrical equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the concrete pump market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the concrete pump market encompasses successful business strategies deployed by the key vendors. The concrete pump market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The concrete pump market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the concrete pump market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the global heavy electrical equipment market includes the following core components:
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
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45% of the market's growth will originate from APAC during the forecast period. China is the key market for the concrete pump market in APAC. Market growth in this region will be faster than the growth of the market in all other regions.
The rising infrastructural investment will facilitate the concrete pump market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
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The concrete pump market share growth by the stationary concrete pump segment will be significant during the forecast period. The stationary category pumps are economical in price compared with the boom or specialized concrete pumps. These pumps are meant for small-time operations such as concreting single housing units that require consistent efficiency and the right type of concrete mix. Therefore, these factors are expected to contribute to the growth of the market in focus on the stationary pumps segment.
This report provides an accurate prediction of the contribution of all the segments to the growth of the concrete pump market size and actionable market insights on post COVID-19 impact on each segment.
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Concrete Pump Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 10.87% |
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Market growth 2021-2025 |
$ 1.59 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
10.21 |
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Regional analysis |
APAC, North America, Europe, MEA, and South America |
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Performing market contribution |
APAC at 45% |
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Key consumer countries |
China, US, UK, Germany, and Saudi Arabia |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Concord Concrete Pumps Inc., JUNJIN Corp., KOREA FLANGE Co. Ltd., Kyokuto Kaihatsu Kogyo Co. Ltd., Liebherr-International AG, Putzmeister Holding GmbH Aichtal, Robert Bosch GmbH, SANY Group, SCHWING GmbH, and Zoomlion Heavy Industry Science and Technology Co. Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our 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 Five Forces Analysis
5 Market Segmentation by Product
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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