Global Concrete Pumps Market to be Worth US$ 6 Billion by 2026 - TMR

ALBANY, New York, June 21, 2018 /PRNewswire/ --

The global Concrete Pumps Market was valued at US$ 3.5 Bn in 2017 and is anticipated to expand at a CAGR of more than 6% from 2017 to 2026, according to a new report titled 'Concrete Pumps Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017- 2026" published by Transparency Market Research (TMR).

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Concrete pump is a machine utilized for transporting liquid concrete through pumping. A common type of concrete pump is the one attached to a truck. Growth of the concrete pumps market is highly dependent on construction activities. Shift toward clean energy is expected to drive the demand for concrete pumps in the near future. Upsurge in construction activities across the globe has led to a significant rise in demand for construction equipment, such as, concrete pumps. These factors are likely to continue to drive the global concrete pumps market during the forecast period.  

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Across segments of the construction industry, demand for concrete pumps has been strongly influenced by the wide-scale construction activities in various developing and developed countries.

Rise in concern about economic recession and delay in projects 

Unforeseen political scenario across the globe is likely to delay or abandon infrastructure activities due to political instability and insufficient funding. Moreover, construction activities are likely to be hampered due to economic recession, causing delay in multiple projects. This, in turn, can hamper the demand for concrete pumps. Rise in concern regarding the environment is likely to compel industries to adopt concrete pumps as a necessary solution in order to gain public acceptance. High installation cost of concrete pumps can be a restraining factor, especially for small-scale industries with inadequate capital.

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Truck mounted concrete pumps segment is anticipated to expand significantly 

In terms of type, the truck mounted concrete pumps segment currently holds a major share of the global concrete pumps market due to their ability to pump large quantity of cement slurries for high-rise buildings quickly and efficiently. Development of the construction industry in Europe and Asia Pacific has propelled the demand for truck mounted concrete pumps. The stationary concrete pumps segment is likely to expand at a CAGR of more than 5% during the forecast period, followed by the specialized concrete pumps segment during the forecast period.