The global concrete pump market is expected to grow at a significant rate during the forecast period. The market size was valued at $3,800.0 million in 2019 and is projected to reach $4,853.2 million by 2027, registering a CAGR of 3.9% from 2020 to 2027. The growth of the concrete pump market can be attributed to the increasing demand for infrastructure development in both developed and developing countries.
Concrete pumps are widely used in the construction industry for efficient pouring and placement of concrete. They are available in different types, including truck-mounted, stationary, and specialized concrete pumps. Among these, truck-mounted concrete pumps are the most widely used type, owing to their mobility, high pumping capacity, and ease of operation.
The truck-mounted concrete pump market is expected to exhibit significant growth during the forecast period, owing to the increasing demand for construction activities in both residential and commercial sectors. These pumps are capable of pumping large quantities of concrete at a high speed, making them ideal for large-scale projects. Moreover, the ability to reach inaccessible areas and pour concrete in a precise and efficient manner is expected to further drive the demand for truck-mounted concrete pumps.
The stationary concrete pump market is also expected to witness significant growth during the forecast period. These pumps are ideal for high-rise construction projects where the concrete needs to be pumped vertically or horizontally over long distances. They are also widely used in projects where the concrete needs to be placed at a precise location.
The specialized concrete pump market is expected to witness steady growth during the forecast period, as these pumps are designed for specific applications. For instance, trailer-mounted concrete pumps are ideal for small-scale construction projects where the access to the construction site is limited.
The Asia-Pacific region is expected to dominate the global concrete pump market during the forecast period, owing to the increasing demand for infrastructure development in countries such as China and India. Moreover, the growth of the construction industry in the region is expected to further drive the demand for concrete pumps.
In conclusion, the global concrete pump market is expected to witness significant growth during the forecast period. The increasing demand for infrastructure development and the growth of the construction industry are expected to drive the market growth. The truck-mounted concrete pump market is expected to dominate the market owing to its mobility, high pumping capacity, and ease of operation. The growth of the stationary concrete pump and specialized concrete pump markets is also expected to contribute to the market growth. The Asia-Pacific region is expected to dominate the market owing to the increasing demand for infrastructure development in the region.