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The truck mounted concrete pumps are trucks with attached concrete pumps that are used to transfer liquid with the help of remote-controlled articulated robotic arm called as boom. They are mainly used in the construction industry because they can pump large amounts of concrete in a very short time. The growing urbanization coupled with the increasing demand for construction is driving the growth of the truck mounted concrete pump as it minimizes the labour cost, and provides accuracy and efficiency in low amount of time. Also, the increasing smart city projects in the emerging counties and the growing tourism is expected to contribute toward the development of the construction sector across the world and create more job opportunities for the locals. Moreover, the rise in economic conditions, low rate of interest, and substantial investments in construction by the government and private organizations are likely to create lucrative growth opportunities for the companies working in the truck mounted concrete pump market.
Globally, the truck mounted concrete pump market is segmented by type, by end-use type, and by geographic coverage. Based on type, the market is further segmented into, stationary pump, truck mounted pump, and specialized usage pump. The truck mounted concrete pump holds the major share in the global market owing to its wide usage in the construction industry. The truck mounted concrete pump comprises of a distinctive robotic arm that is mounted on the back side of the truck.
The robotic arm pumps out the liquid concrete directly on the construction site. These pumps have a long range, larger volume of liquid concrete carrying capability, high transmission speed, flexibility in usage, and minimum requirement of labour which is expected to create high demand for the use of truck-mounted concrete pumps. Thus, the truck-mounted concrete pump market is expected to uphold its leading position during the forecast period. The end-use type is further segmented into commercial, industrial and domestic. The commercial segment holds the significant share in the global market owing to the expansion of the industrialization along with the increasing demand for construction activities. Also, the development of smart cities, highways, business parks, dams, hospitals, airport buildings, shopping malls, and hotels requires advanced machinery along with precise and efficient working. All this development consequently fuelling the growth of the truck mounted concrete pump market.
Key Market Driver -
Increase in the construction sector is expected to drive the growth of the market in the forecast period.
Key Market Restraint -
Fluctuations in construction costs may hinder the growth of the market during the forecast period.
Major players operating in the global Truck Mounted Concrete Pump market include Putzmeister Concrete Machines Pvt. Ltd, CONCORD CONCRETE PUMPS INTERNATIONAL LTD, Shantui Construction Machinery co.,Ltd., Liugong Machinery Co., Ltd., Zoomlion Heavy Industry Science&Technology Co., Ltd., Junjin, SANY GROUP, Sermac Srl, Kyokuto Kaihatsu Kogyo Co., Ltd., Liebherr, XCMG Group, and SCHWING Stetter among others.
Geographically, the Truck Mounted Concrete Pump market is segmented into North America, Europe, Asia Pacific, and the rest of the world. Asia pacific holds the largest share in the global market and is expected to maintain its dominant position over the forecast period. Rapid adoption of advanced technology and large investments in huge infrastructure projects by emerging countries including, China and India is driving the development of the construction industry which in turn is expected to stimulate the demand for truck-mounted concrete pumps in this region. Moreover, the rapid development in the infrastructure and residential sectors along with the increasing investments into roads and highways projects in the coming years is expected to boost the demand for truck-mounted concrete pumps during the forecast period.
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