Concrete Equipment Market Size, Share, Growth, And Industry Analysis, By Type (Concrete Pump, Concrete Mixer, and Others), By Application (Construction Site, Road, and Bridge Projects and Industrial), Regional Insights, and Forecast From 2024 To 2031

Concrete Equipment Market Report Overview

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The global concrete equipment market size was USD 18410 million in 2022 and is expected to reach USD 24444.09 million in 2031, exhibiting a CAGR of 3.2% during the forecast period.

Equipment used to create and prepare concrete is referred to as concrete equipment. This includes vibrators for compaction, batching facilities for mass manufacturing, pumps for moving concrete, and concrete mixers for mixing components. Concrete finishing, drilling, and cutting tools are also available, along with equipment for evaluating its quality. Concrete is poured into forms and moulds, which shape and enclose it. The scope, goals, and financial constraints of the project will influence the equipment selection.

These machines are used to blend cement, water, and aggregates to create a consistent and homogeneous mixture. There are different types of mixers, including drum mixers, pan mixers, and twin-shaft mixers.

COVID-19 Impact: Pandemic Hamper the Demand of Concrete Equipment to Market Growth

The global Covid-19 pandemic has been unprecedented and staggering, with the concrete equipment market experiencing Higher than anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

The COVID-19 pandemic has had various impacts on the concrete equipment industry. Many concrete equipment manufacturers and suppliers faced disruptions in their supply chains due to lockdown measures and restrictions on movement. This led to delays in the production and delivery of equipment, affecting project timelines and availability. This reduction in construction projects resulted in a decreased demand for concrete equipment.

Latest Trends

"Sustainability and Green Initiatives Will Drive Market Growth "

There has been a growing focus on sustainability in the construction industry, and this trend extends to concrete equipment. Manufacturers have been exploring ways to reduce energy consumption, emissions, and waste in the production and operation of concrete equipment. This includes the development of more energy-efficient machines, the use of alternative materials, and the implementation of recycling and waste reduction measures.

Concrete Equipment Market Segmentation

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• By Type Analysis

According to type, the concrete equipment market can be segmented into concrete pump, concrete mixer, and others.

In terms of type, concrete pump is anticipated to be the largest segment during the forecast period.

• By Application Analysis

Based on application, the concrete equipment market can be construction site, road, and bridge projects and industrial.

In terms of application, the road market is projected to hold a concrete equipment market share through 2028.

Driving Factors

"Infrastructure Development Will Boost Market Growth "

The demand for concrete equipment is strongly tied to infrastructure development projects such as highways, bridges, airports, and urban infrastructure. Government investments in infrastructure, population growth, urbanization, and the need for modernization and maintenance of existing infrastructure all drive the demand for concrete equipment.

"Construction Industry Growth Will Fuel Market Growth "

The growth of the construction industry directly impacts the demand for concrete equipment. Factors such as population growth, urbanization, industrial development, commercial projects, and residential construction contribute to the increased need for concrete equipment.

Restraining Factors

"High Equipment Costs Will Limit Market Growth"

Concrete equipment can be expensive to purchase and maintain. The high upfront costs of acquiring equipment, along with ongoing maintenance, repair, and operating expenses, can pose financial challenges for construction companies, especially for smaller or emerging firms.

Concrete Equipment Market Regional Insights

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"The North America Region will Dominate Market Due to Strong Demand of Aging Infrastructure"

The construction industry in North America, particularly in the United States, is a significant driver of the demand for concrete equipment. Infrastructure projects, commercial and residential construction, and the renovation of aging infrastructure contribute to the demand. There is also an increasing focus on sustainability and green building practices, influencing the adoption of eco-friendly concrete equipment.

Europe has a well-established construction industry with a strong emphasis on infrastructure development, particularly in Western European countries. The demand for concrete equipment is driven by urbanization, renovation projects, and investments in transportation networks. The region also places importance on safety and environmental regulations, impacting the design and operation of concrete equipment.

Key Industry Players

"Adoption Recycling Services by Key Players Influencing Market Development"

The top key players in the concrete equipment market are SANY, ZOOMLION, Kyokuto Kaihatsu Kogyo Co., Ltd., Shandong Hongda. Most of the top players hold the concrete equipment market share. In addition, the strategies to develop new technologies, capital investment in R&D, improve product quality, acquisitions, mergers, and compete for the concrete equipment market growth in the competition help them to perpetuate their position and value in the market. Besides, collaboration with other companies & extensive possession of market shares by the key players stimulates the concrete equipment market.

LIST OF TOP CONCRETE EQUIPMENT COMPANIES

• SANY (China)
• ZOOMLION (China)
• Kyokuto Kaihatsu Kogyo Co., Ltd. (Japan)
• Shandong Hongda (China)
• Guangxi Liugong (China)
• Junjin (South Korea)
• TEREX (U.S.)
• Oshkosh (U.S.)
• Liebherr (Switzerland)
• SICOMA (Italy)
• TORO (U.S.)
• Ajax Fiori Engineering (India)
• XCMG (China)
• Shanghai Jiangong (China)
• Betonstar (Turkey)
• Altrad (France)
• Fangyuan Group (China)
• Concord Concrete Pumps (Canada)
• ELKON (Turkey)
• Multiquip Inc. (U.S.)
• DY Concrete Pumps (Canada)

Report Coverage

This report examines an understanding of the concrete equipment market’s size, share, growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.

Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.

This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.