The Global Concrete Pump Market Size was Worth USD 4.15 Billion in 2022 and is Estimated to Grow to USD 5.60 Billion by 2030, with a CAGR of Approximately 3.8 % Over the Forecast Years From 2023 To 2030.
Concrete Pump Market: Overview
The use of concrete pumps has significantly changed the way high-rise buildings and other structures are built. In the current construction phase, placing concrete in difficult-to-reach places has forced the usage of pumps. The demand for pumping has grown significantly, particularly with the spread of ready-mixed concrete worldwide. The distance the concrete must be pumped over, the concrete’s properties, as well as several smaller details can all have an impact on the operation. The ease of pumping depends on the type of pump available. One major factor driving the global demand for concrete pumps is an increase in infrastructure spending. Other significant factors that increase demand for concrete pumps, particularly in developing regions, include rapid urbanization and consumer lifestyle improvements worldwide. Another significant trend projected to contribute to the growth of the global market during the forecast period is the spike in demand for high-capacity concrete pumps.
The demand for and subsequent development prospects of high-rise structures developed significantly in the global market due to the metropolis’s quick growth and the unparalleled rate of urbanization. These pumps can deliver the concrete mix efficiently and with great ease to locations that are far away and have a steep ascent. The capability is anticipated to increase use at building sites, improving the market’s growth prospects. For instance, data from ANAROCK Property Consultants shows that in 2019, out of 1,816 housing developments in the top 7 cities in India, 52% were high-rise structures with a 20-floor or higher construction, which suggests rising demand for these pumps on the international market.
The potential failure of these pumps can be disastrous at building sites because it could halt all activities and squander ready-mix concrete. The catastrophic failure of these pumps could cause harm to the workers at the construction site and occasionally even the finished building. Although these pumps can be reduced with prompt maintenance and repairs, a serious breakdown is always possible. Many real estate developers rely on the traditional transportation of concrete mix because they are concerned about the effects of a serious breakdown, which can limit application and sales across various locations.
The global concrete pump market is segregated based on type and end user.
- Based on type, the market is divided into truck-mounted concrete pumps, stationary concrete pumps, and specialized concrete pumps. Among these, the truck-mounted concrete pumps category led the market in 2021 and is expected to maintain its dominance throughout the forecast period. The significant production of these pumps and the creation of cutting-edge truck mounts would be factors in its global market dominance. Truck-mounted pumps can be used more often over the planned period due to their capacity for faster concrete pouring, high precision, and significant accuracy in pouring operations. Due to its capacity to access difficult areas of tall buildings, the development of a truck-mounted concrete pump with an attachment of flexible concrete laying hoses is predicted to gain substantial traction in the market. Customers in the market above category would also be interested in novel truck-mounted pumps developed by well-known companies and major international market competitors.
- Based on end users, the market is divided into industrial, commercial, and domestic. The commercial category dominated the market in 2021 due to commercial real estate developers buying these pumps. A small percentage of the residential segment is because most home and industrial enterprises prefer to rent services over purchasing a complete system. Commercial pump owners that want to enter the rental industry are also looking to expand their fleets.
Concrete Pump Market: Regional Landscape
- In 2022, the Asia Pacific dominated the market for concrete pumps. The growth is mostly related to the region’s major cities’ rising development of high-rise structures and multistory high-tech infrastructure. In addition, many developers are working to avoid the labor shortage and build technology-driven infrastructure to assure quicker and less expensive operations in the local market. India is predicted to increase at the quickest rate due to the advancement of high-end infrastructure and smart cities that encourage the construction of skyscrapers. 734 high-rise projects are now under construction in the Mumbai Metropolitan Region (MMR), according to data provided by Anarock Property Consultants. These projects account for 72% of all planned infrastructure in the land-scarce metropolis.
Concrete Pump Market: Competitive Landscape
- Some of the main competitors dominating the global concrete pump market include– Concord Concrete Pumps, LIEBHERR Group, Ajax Fiori Engineering, PUTZMEISTER, Sany Group, PCP Group, Apollo Infratech Pvt. Ltd., SCHWING GmbH, Zoomlion Heavy Machinery Co, Ltd., and Alliance Concrete Pumps Inc.
The labor-intensive infrastructure and construction development sector is affected significantly by COVID-19 in many different regions of the world. The strict rules and lockdowns had halted all ongoing construction projects, which had caused the construction market to decline suddenly. The increase in COVID-19 cases in various parts of the world also made investors less willing to risk their money on the market, reducing cash liquidity and worsening the crisis. The construction industry’s supply chain disruption and complete breakdown are other factors that should worry the market.
- November 2020: To introduce fresh and cutting-edge pumping solutions, German firm Putzmeister invests heavily in R&D projects. In partnership with its parent company, Sany Heavy Industries, the business stated its intention to introduce a new line of concrete pumps that will be among the best in its class and draw in many customers.
Global Concrete Pump Market is segmented as follows:
Concrete Pump Market by Type Outlook (Revenue, USD Million, 2017 – 2030)
- Truck-Mounted Concrete Pumps
- Stationary Concrete Pumps
- Specialized Concrete Pumps
Concrete Pump Market by End User Outlook (Revenue, USD Million, 2017 – 2030)
Concrete Pump Market by Region Outlook (Revenue, USD Million, 2017 – 2030)
- North America
- The UK
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
|Concrete Pump Market Report Scope
|Market Size Value in 2022
|USD 4.15 billion
|Revenue Forecast in 2030
|USD 5.60 billion
|CAGR of 3.8 % from 2023 to 2030
|Base Year for Estimation
|2017 – 2022
|2023 – 2030
|Revenue in USD million and CAGR from 2023 to 2030
|Revenue forecast, company ranking, Trends
competitive landscape, and growth factors
|Type, End User, and Region
|North America; Europe; Asia Pacific; Latin America; Middle East & Africa
|U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico and Others
|Key Companies Profiled
|Concord Concrete Pumps, LIEBHERR Group, Ajax Fiori Engineering, PUTZMEISTER, Sany Group, PCP Group, Apollo Infratech Pvt. Ltd., SCHWING GmbH, Zoomlion Heavy Machinery Co, Ltd., and Alliance Concrete Pumps Inc.