Truck Mounted Concrete Pump Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2024 - 2030)

Truck Mounted Concrete Pump Market Data

Truck-Mounted Concrete Pump Market Analysis

The truck-mounted concrete pump market generated revenue of USD 2,887.8 million in 2023, and it is projected to expand at a rate of 4.0% from 2024 to 2030, reaching USD 3,776.2 million by 2030. This is due to the infrastructure development projects worldwide and the global trend of urbanization.

These machines are important for infrastructure development projects because they are able to move liquid concrete efficiently. They have a robotic arm, called the boom, which can be controlled remotely to accurately place the concrete where it is needed. This makes the process faster, relatively effortless, and, above all, safer for laborers.

This market is also influenced by the positive economic conditions, cheap loan rates, and high expenditures being made in building projects by the government and private sectors. By offering promising opportunities for growth, governments create an environment that is helpful for the success of companies operating in this sector.

The growing tourism sector and the initiation of smart city programs in various countries contribute to the growth of the construction industry. With the growth in infrastructure development activities, the truck-mounted concrete pump market grows because these vehicles help make the job work faster and more efficient.

Truck Mounted Concrete Pump Market Trends & Drivers

Technological Advancements Are Key Trend

• With the advancements in the construction industry, the machines used for these tasks are also being enhanced and made more productive. Through the boom, concrete pump operators are able to deliver concrete accurately where it is needed, without manual adjustments. This helps construction companies not only save time but also increase safety. by providing better control.
• As the demand for effective and eco-friendly construction machines increases, companies will raise their investment in research and development (R&D) to enhance the performance and strength of concrete mixtures.
• Manufacturers are now producing concrete pumps that consume less fuel and emit fewer emissions, through new technologies. This approach helps reduce population and operational costs and also promotes sustainable practices, without affecting the work efficiency.
• For example, Putzmeister launched its iONTRON hybrid truck-mounted concrete pumps, designed for a reduction of CO2 emissions and powerful performance for typical jobs.

Increment in Pace of Urbanization and Infrastructure Development

• The rapid growth of cities in various countries has increased building activity, particularly in developing countries. Due to this, the requirement for truck-mounted concrete pumps is increasing for effective and accurate work.
• The growing investments in infrastructure projects, including roads, bridges, and public utilities, necessitate efficient concrete pumping solutions, thereby boosting the market for truck-mounted concrete pumps.
• Additionally, this market is expected to grow due to the expansion of the housing and business sectors, mainly in developing countries like India and China.

High Initial Investment

• For smaller contractors and building companies, the large initial investment cost of concrete pump equipment is the main challenge. They may struggle to purchase these machines, thereby restraining the growth of the market.
• Since the high initial investment acts as a barrier for new players in the market, there is limited competition in the market, which also slows down its growth.
• In areas where the weather changes a lot, concrete pumps attached to trucks that use solar or wind power may not be able to work all the time. This can be a problem because they might not work when needed.
• The changes in government rules and benefits, such as subsidies and tax breaks, can also cause the market to grow slowly, because they make investors insecure.

Truck-Mounted Concrete Pumps Industry Outlook

Type Analysis

• The boom or truck-mounted category held the largest market share, of around 45%, in 2023. They have a distinctive robotic arm that pumps out the liquid directly at the construction site.
• Boom pumps can transfer concrete quickly and accurately, even from great heights, with accuracy. They require minimal labor; only a few workers are required to run it. This leads to a reduction in labor expenses and the quickness of work, which allows the contractor to take on new projects.
• Trailer, line, or stationary is the fastest-growing category, with an expected CAGR of 4.5% during 2024–2030. This is mainly due to its long pipeline, up to hundreds of meters below and kilometers away. 

Below are the types that were studied in this report

• Boom or Truck-Mounted (Largest Category)
• Trailer, Line, or Stationary (Fastest-Growing Category)
• Specialized-Usage

End Use Insights

• The commercial category held the largest market share, of around 50%, in 2023. This is mainly due to industrial growth and rising business activities in developing countries, such as India and China.
• Commercial construction around the world is driven by the growing demand for modern cities, better roads for safe driving, and more places for businesses to operate.
• The industrial category is expected to grow the fastest, with a CAGR of 4.3%, during 2024–2030. This is due to the increasing need for industrial infrastructure, especially with the governments of emerging economies promoting local manufacturing.

Below are the end uses that were studied in this report

• Industrial (Fastest-Growing Category)
• Commercial (Largest Category)
• Residential

Asia-Pacific is the Largest Regional Market

• Geographically, APAC held the largest share in the truck-mounted concrete pump market in 2023. This is due to the quick adoption of advanced technology and heavy investments in the construction of new residential and commercial buildings in emerging countries, including China and India.
• In APAC, governments are focused on public transport projects, such as bridges, roads, and railways. These projects require large amounts of concrete, thereby propelling the sale of truck-mounted concrete pumps to major real estate and infrastructure development companies.
• APAC is also expected to be the fastest-growing market, with a CAGR of 4.7%, during 2024–2030. This is due to the advancement in the technology in the region, particularly those that reduce the fuel consumption and enhance the eco-friendliness of such machines. This allows construction companies to use more trucks to supply concrete without harming the environment. 

The regions and countries analyzed for this report include:

• North America
  • U.S. (Larger and Faster-Growing Country Market)
  • Canada
• Europe
  • Germany (Largest and Fastest-Growing Country Market)
  • U.K.
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia-Pacific (APAC) (Largest and Fastest-Growing Regional Market)
  • China (Largest Country Market)
  • Japan
  • India (Fastest-Growing Country Market)
  • South Korea
  • Australia
  • Rest of APAC
• Latin America (LATAM)
  • Brazil (Largest and Fastest-Growing Country Market)
  • Mexico
  • Rest of LATAM
• Middle East and Africa (MEA)
  • Saudi Arabia
  • South Africa (Fastest-Growing Country Market)
  • U.A.E. (Largest Country Market)
  • Rest of MEA

Competitive Analysis

• Companies such as SANY GROUP, SCHWING Stetter, and CONCORD CONCRETE PUMPS INTERNATIONAL LTD. are continuously investing to improve the efficiency, accuracy, and safety of their truck-mounted concrete pumps.
• Companies such as AB Volvo, Daimler Truck AG, and Ford Motor Co. are able to reach a global customer base and fulfill consumer demands by providing diverse solutions.

Truck Mounted Concrete Pump Companies News

• In October 2023, Liebherr launched its 31 XXT truck-mounted concrete pump. It is designed for buildings and small-to-medium-sized construction sites. It has a low unfolding height and the LiDriveIn function for low entry into buildings.
• In October 2022, Putzmeister launched its iONTRON hybrid truck-mounted concrete pump. This zero-emission vehicle is available in the 20-to-40-m class.
• SCHWING Stetter India Pvt Ltd. has launched the S-36 truck-mounted concrete pump. It has a vector control system, which allows customers to maintain schedules in an efficient way and delivers an average output of 90 cubic meters of concrete per hour. Additionally, it allows for the placement of concrete at distances of more than 100 feet vertically and 90 feet horizontally.