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Truck Mounted Concrete Pump Market Size

Report ID: GMI11671
Published Date: Oct 2024
Report Format: PDF

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Truck Mounted Concrete Pump Market Size

The global truck mounted concrete pump market size was valued at USD 4.9 billion in 2023 and is anticipated to grow at a CAGR of 6% between 2024 and 2032, attributed to the global infrastructure development especially in emerging economies. Countries including India, China, Saudi Arabia and Brazil are investing in projects such as roads, bridges, airports and railways.

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Rapid urbanization in developing countries is driving a higher demand for housing and urban infrastructure. The migration of populations from rural to urban areas is driving the need for residential construction. These buildings often require boom pumps for efficient concrete placement. The Asia Pacific region, including countries such as Singapore, Australia, Vietnam, and India, is a key market for residential construction.

Truck Mounted Concrete Pump Market Report Attributes
Report Attribute	Details
Base Year:	2023
Truck Mounted Concrete Pump Market Size in 2023:	USD 4.9 billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	6%
2032 Value Projection:	USD 8.1 Billion
Historical Data for:	2021-2023
No. of Pages:	250
Tables, Charts & Figures:	200
Segments covered:	Product, Propulsion, Boom Length, and End-user Industry
Growth Drivers:	Rising commercial & industrial construction Technological advancements improve efficiency and safety Labor shortages in the construction industry Government investments in infrastructure development
Pitfalls & Challenges:	High initial investment costs Maintenance and repair challenges

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Authors: Preeti Wadhwani, Aishwarya Ambekar

Frequently Asked Questions (FAQ) :

The truck-mounted concrete pump market hit over $4.9 billion in 2023 and is set to grow at about 6% CAGR through 2032, driven by technological advancements that enhance efficiency and safety.

The infrastructure segment accounted for over 43% share of the truck-mounted concrete pump market in 2023, driven by the government investments in smart cities.

The boom pump segment held around 65% of the market share in 2023 and is expected to exceed USD 5 billion by 2032, on account of the increasing focus on reducing labour and construction time is driving the growth of boom pumps.

Asia Pacific region dominated 45% share of the truck mounted concrete pump market in 2023, driven by rapid growth in the real estate sector and increasing demand for residential and commercial buildings in major cities.

Some of the major key players in the truck-mounted concrete pump market include Action Construction Equipment Ltd., Alliance Concrete Pumps, Anhui Hualing Xingma Automobile Co., Ltd., Concord Concrete Pumps, JunJin Heavy Industry Co., Ltd., KCP Heavy Industries, Liebherr, SANY Group, XCMG, and Zoomlion Heavy Industry.