The global concrete placing booms market size is expected to reach US$ 4.1 Billion in 2022. The rapid expansion of the construction industry and rising urbanization are anticipated to drive the demand for concrete placing booms in future. As per the study, the concrete placing booms market is projected to grow at a CAGR of 2.6% in the forecast period from 2022 to 2032 and be valued at USS$ 8.9 Billion in 2032.
| Report Attribute | Details |
|---|---|
| Concrete Placing Booms Market Estimated Base Year Value (2021) | US$ 3.7 Billion |
| Concrete Placing Booms Market Expected Market Value (2022) | US$ 4.1 Billion |
| Concrete Placing Booms Market Anticipated Forecast Value (2032) | US$ 8.9 Billion |
| Concrete Placing Booms Market Projected Growth Rate (2022 to 2032) | 2.6% CAGR |
Concrete placing booms or concrete pumping machines are considered to be a significant machinery in the construction industry today. The liquid concrete is transferred or pumped at the construction site by piping.
The machine has three major units, namely, truck mounted boom pump, line pump (stationary pump), and concrete placing boom. The rising construction of high-rise structures and buildings in both developed and developing countries is projected to propel the sales of concrete placing booms in the near future.
Concrete placing booms are mainly a structure on a rotating platform or a pedestal that can be connected with a pipeline system, as well as located hundreds of feet from the point of action.
The global concrete placing booms market size is anticipated to surge at a fast pace owing to their ability to enhance the working efficiency and deliver high-quality concrete distribution at construction sites.
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The increasing usage of concrete placing booms in large mining and construction sites backed by their high time saving and pumping capabilities is projected to push the concrete placing booms market growth in the upcoming years. The increasing replacement of cranes with concrete buckets for usage in mega construction projects and high-rise buildings is another major factor that is likely to propel the market.
Moreover, rapid urbanization and constantly changing lifestyles of people, especially in developing countries have led to the surging need for residential construction activities. Growing infrastructural investments by both government and private agencies to improve the lifestyles of people is also expected to bode well for the global market.
The COVID-19 pandemic that started back in December 2019, had restricted the movement of people owing to stringent lockdown norms in various parts of the world. Many construction projects were either postponed or canceled due to the lack of available funds, as well as social distancing norms.
As several suppliers and firms are highly dependent on other countries for gaining raw materials, travel restrictions led to shortages. However, the industry is gradually getting back to normalcy as coronavirus cases are declining worldwide, thereby augmenting the demand for concrete placing booms.
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Based on regions, Asia Pacific is anticipated to generate the largest concrete placing booms market share in the evaluation period. This growth is attributable to the increasing focus of government bodies on the development of infrastructures across India and China.
In addition to that, the rising development of the infrastructure sector, including roads, dams, bridges, power, and urban development in emerging economies is another vital factor that is estimated to bolster growth. As per the India Brand Equity Movement (IBEF), by 2022, India is anticipated to become the third-largest construction market in the world.
For sustainable development in the country, India will need investments worth US$ 777.73 billion by 2022 across infrastructures. This trend is projected to continue, thereby accelerating the Asia Pacific market.
North America is set to remain in the second position throughout the forthcoming years with the presence of various construction equipment manufacturers across the U.S. and Canada. The rising demand for specialized concrete pumps, stationary concrete pumps, and truck mounted concrete pumps in these countries for the development of new infrastructures is also likely to boost the market.
Besides, the increasing residential and commercial construction activities in these countries is projected to augur well for the North America market. The rapid expansion of the nuclear power, railway, mining, and construction industries in this region backed by increasing population is another factor that is expected to foster the sales of concrete placing booms.
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Some of the renowned companies operating in the global concrete placing booms market include Hangzhou Truemax Machinery & Equipment Co., Ltd., Putzmeister America, Inc., Everdigm, Sany Group, XCMG, ALTERMEKA Mühendislik ve Tic. Ltd., Zoomlion, Camelway Machinery Equipment Co., Ltd., Liebherr, and Dawin Machinery among others.
The majority of the leading companies are focusing on new product developments to cater to the surging demand from customers. A few other organizations are engaging in collaborations, joint ventures, and partnerships to co-develop novel products and gain a competitive edge in the global market. The market is anticipated to witness the entry of many small-scale enterprises, especially in untapped regions to generate more sales.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 2.6% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2020 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Billion, Volume in Kilotons and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Length, End User, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; APEJ; Japan; Middle East and Africa |
| Key Countries Profiled | USA, Canada, Brazil, Argentina, Germany, UK, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASEAN, GCC, South Africa |
| Key Companies Profiled | Hangzhou Truemax Machinery & Equipment Co., Ltd.; Putzmeister America, Inc.; Everdigm; Sany Group; XCMG; ALTERMEKA Mühendislik ve Tic. Ltd.; Zoomlion; Camelway Machinery Equipment Co., Ltd.; Liebherr; Dawin Machinery |
| Customization | Available Upon Request |
The global concrete placing booms market is anticipated to surpass US$ 8.9 Billion in 2032.
Asia Pacific is set to lead the concrete placing booms market in the forecast period.
Hangzhou Truemax Machinery & Equipment Co., Ltd., Putzmeister America, Inc., Everdigm, Sany Group, and XCMG are some of the renowned companies in the concrete placing booms market.
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Concrete Placing Booms Market
