(MENAFN- EIN Presswire) Growth of the mobile concrete mixer market is majorly driven by rise in construction actives in developing countries.
WILMINGTON, DELAWARE, UNITED STATES, May 30, 2024 /EINPresswire / -- Market Outlook:
The mobile concrete mixer market size was valued at $6,755.0 million in 2020, and is expected to reach $ 11,812.2 million by 2030, registering a CAGR of 5.6% from 2021 to 2030.
Some sites require fresh concrete that is prepared on construction sites itself to avoid wastage, which eventually saves construction cost occurring due to wastage of concrete. Hence, owing to this demand, mobile concrete mixers are used to prepare concrete from raw material such as sand, cement, water, gravel, and sometimes binding adhesives. The concrete is than discharged though outlet nozzle mounted on front or back of the truck or trailer as per design.
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Driving Demands:
Major driving factors of the mobile concrete mixer market are extensive increase in investments by governments, majorly in developing countries on constructing new infrastructures such as roads, dams, tunnels, residential & commercial buildings, and other public infrastructures. In addition, ease of transportation of concrete in remote areas where roads are not well built or construction sites that have no proper access drives the mobile concrete mixer market.
Moreover, decrease in wastage of concrete saves construction project costs and eventually helps in saving natural resources. However, cost of mobile concrete mixers is slightly high. Further, it also needs regular maintenance for its smooth working. Thus, high investment and maintenance costs acts as restraint for the mobile concrete mixer market growth.
In addition, outbreak of COVID-19 has led to halt in construction and manufacturing activates across the globe. Halt in logistics services has led to halt in the construction industry, which, in turn, hinders growth of the mobile concrete mixer market.
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Players Include:
The major players profiled in the mobile concrete mixers market include AB Volvo, KYB Corporation, Liebherr-International AG, Navister Inc., Oshkosh Corporation, Sany Group, Schwing Stetter Group, Sinotruk, Tata Motors and Zoomlion Heavy Industry Science and Technology Co., Ltd. Major companies in the market have adopted strategies such as business expansion and partnership to offer better products and services to customers in the mobile concrete mixers market.
Key Segments:
The mobile concrete mixer market is segmented on the basis of capacity, product type, chassis type, and region. On the basis of capacity, the market is divided into less than 6 m3, 6–10 m3, and above 10 m3. Depending on product type, it is classified into standard and volumetric. On the basis of chassis type, it is divided into truck and trailer. By region, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Italy and rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
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Key Findings of The Study:
By capacity, the 6-10 m3 segment was the highest revenue contributor in 2020.
By product type, the standard segment generated the highest revenue in 2020.
By chassis type, the truck segment generated the highest revenue in 2020.
By region, Asia-Pacific generated the highest revenue in 2020.
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