Concrete Pumps Market Developments, Trends, Opportunities, and Forecast by 2031

The concrete pumps market size is expected to reach US$ 5.05 billion by 2031 from US$ 3.35 billion in 2023. The market is estimated to record a CAGR of 5.3% from 2023 to 2031. The increasing demand for IoT-enabled concrete pumps is likely to bring new market trends.

Concrete Pumps Market Analysis

Governments of different countries continue to take various initiatives to improve and develop infrastructure, which leads to an increase in demand for scaffoldings. For instance, the Government of India introduced a scheme to provide affordable housing to all in 2015; through this scheme, ~10 million housing units were built between 2019 and 2024. In 2016, the government of Saudi Arabia announced the Saudi Arabia 2030 scheme and invested approximately US$ 1.3 trillion in 2024 for the development of residential, commercial, and public infrastructure. A shortage in the construction workforce is another factor driving the demand for concrete pumps. As per the data published by Worldwide Recruitment, a workforce solution provider company, in 2023, the construction industry in the US experienced a 650,000 workers shortage. The shortage of the workforce across the globe is supporting the demand for concrete pumps.

Concrete Pumps Market Overview

A concrete pump is one of the construction machines and equipment that helps the end user transfer freshly prepared concrete mixture to the worksite. Increased investments in residential and commercial construction owing to urbanization drive the demand for concrete pumps. According to the data published by the Word Bank in 2023, in 2022, approximately 56% of the total population, which was 4.4 billion people, was living in urban areas, while in 2010, 3.5 billion people were registered to be living in urban areas.

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Concrete Pumps Market: Strategic Insights

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Concrete Pumps Market Drivers and Opportunities

Growing Demand for Residential Construction

Factors such as increasing population, urbanization, and growing per capita income are fueling the demand for residential units across the globe. As per the data published by the United Nations in 2022, the share of urbanization increased to ~57% in 2022 compared to 52% in 2012. In addition, in 2021, the global population reached almost 8 billion from 7 billion in 2011. These statistics show increased urbanization and population trends globally. This has led to increased demand for residential units across the globe. According to the data published by the Pam Golding Property Group and Savills in 2021, during the first half of 2021, the demand for residential properties witnessed an increase compared to the first half of 2019. Further, in 2022, JLL India stated that in India, the demand for residential properties reached a record high of 215,000 units across the country; such a requirement for residential units led to increased demand for concrete and cement across the globe. As per the data published by the Global Cement and Concrete Association in 2020, global cement production reached 4 billion metric tons. Further, as per the data published by the Government of India in August 2024, India's total cement production reached 374.55 million metric tons in 2023, experiencing growth of approximately 7% compared to 2022. All these factors show an increased need for residential units and cement across the globe, leading to a rise in demand for concrete pumps, ultimately driving the concrete pumps market

Growing Investments in Infrastructure Development

Strong infrastructure in any country plays an important role in the country's economy and overall development; hence, governments and construction companies across the globe are investing heavily in the development of the infrastructure. In October 2024, the US government announced the Hudson River Tunnel Project worth US$ 16 billion. In this project, the government plans to construct a tunnel to build a railway track connecting the Hudson River to New Jersey. This project is expected to launch in 2025. In October 2024, the US Department of Transportation announced US$ 635 million in funding for 22 small and medium-sized bridge projects in rural and urban parts of the US. According to the data published by the European Construction Industry Federation in June 2024, the European Federal Government announced 400 bridge construction projects in 2026 in order to renovate the aged bridges across Europe. In November 2024, the UAE government announced the Dubai Exhibition Center expansion project plan worth US$ 2.7 billion. The project will be completed in three different phases; the first phase includes the expansion of its current 58,000 square meters to 140,000 square meters, which will be completed by 2026. The second phase includes the expansion of the exhibition phase to ~160,000 square meters, along with the development of multi-story parking and road infrastructure by 2028. The final phase includes the expansion of the space to 180,000 square meters, which will also include space for 26 halls and more than 300 hotel, retail, and commercial office spaces. In August 2024, the Government of India announced US$ 494 million for the development of hydropower projects in the northeastern part of the country to reach 15,000 MW of capacity in the coming 8 years. In addition, the government announced the construction of approximately 1,000 bridges across the Assam state by 2026. This project is expected to require ~US$ 50 million in funding. Such investments mentioned above by governments across the globe are expected to create lucrative opportunities for construction machines and equipment, ultimately driving the concrete pumps market during the forecast period.

Concrete Pumps Market Report Segmentation Analysis

Key segments that contributed to the derivation of the concrete pumps market analysis are type, end user, and power capacity.

• Based on type, the concrete pumps are segmented into boom pumps, line pumps, and specialized pumps. The boom pumps segment held the largest share of the concrete pumps market in 2023.
• Based on end user, the concrete pumps market is segmented into commercial, residential, and industrial. The commercial segment held the largest share of the concrete pumps market in 2023.
• Based on power capacity, the concrete pumps market is segmented into over 76 KW, 46–75 KW, and 30–45 KW. The over 76 KW segment held the largest share of the concrete pumps market in 2023.

Concrete Pumps Market Share Analysis by Geography

• The concrete pumps market is segmented into five major regions: North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. Asia Pacific dominated the concrete pumps market in 2023; it is expected to continue to dominate the market during the forecast period. Europe is the second-largest contributor to the global concrete pumps market, followed by North America.
• The North America concrete pumps market is growing significantly owing to its strong industrial base and technological advancements in the construction sector. China dominates the concrete pumps market in this region. The presence and expansion of industries such as automotive, aerospace, defense, and machinery manufacturing require advanced production infrastructure and large facilities, which is expected to fuel the demand for foreign investment and infrastructure development. This, in turn, fuels the demand for concrete pumps in Asia Pacific. Defense and aerospace sectors in China and India play a significant key role in driving the concrete pumps market owing to the rise in investment toward infrastructure development and expansion in the sector from 2023 to 2031.

Concrete Pumps Market Regional Insights

The regional trends and factors influencing the Concrete Pumps Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses Concrete Pumps Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Concrete Pumps Market Report Scope

Concrete Pumps Market Players Density: Understanding Its Impact on Business Dynamics

The Concrete Pumps Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Concrete Pumps Market News and Recent Developments

The concrete pumps market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the concrete pumps market are listed below:

• Alliance Concrete Pumps announced the opening of its new branch in Fort Worth, Texas. This expansion marks a significant milestone in the company's growth and commitment to serving customers across Canada and the United States. The demand for the company's products in Texas made this expansion the next logical step for Alliance Concrete Pumps. The new facility in Fort Worth increases their geographical footprint allowing the company to better serve their customers in the South, providing them with high-quality parts, service, and sales support.

(Source: Alliance Concrete Pumps, Press Release, August 2024)

• ZOOMLION showcased a 50m pump truck 50X-6RZ. This 50X-6RZ pump truck is lightweight, intelligent, digital, and green. For example, the application of active boom damping technology ensures its efficient and stable output; the adaptive power distribution control technology allows the pump truck to automatically adapt to working conditions, greatly improving the pumping efficiency and service life; the self-diagnosis electrical control system can monitor the equipment status in real-time and enable the truck self-check and self-diagnosis, delivering accurate fault locating, and making fault diagnosis and maintenance simpler, more convenient, and more efficient.

(Source: ZOOMLION, Press Release, May 2024)

Concrete Pumps Market Report Coverage and Deliverables

The "Concrete Pumps Market Size and Forecast (2021–2031)" provides a detailed analysis of the market covering the areas mentioned below:

• Concrete pumps market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Concrete pumps market trends, as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST and SWOT analysis
• Concrete pumps market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the concrete pumps market
• Detailed company profiles