LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global concrete pump market report. This research report also lists 12 other prominent vendors that are expected to impact the market during the forecast period.
The global concrete pump market is expected to grow at a steady pace in the predicted period. The application of concrete pumps is a direct derivative of the construction sector. The increasing investment in the infrastructure sector coupled with strong government initiatives is likely to drive the market toward growth. Worldwide, countries are experiencing rapid urbanization, especially in Asia and Africa, as more people are migrating toward urban areas to pursue better opportunities and lifestyle.
Competitive vendor landscape
The global concrete pump market is highly consolidated with major market shares held by international vendors such as SCHWING Stetter and Putzmeister. These two vendors are the market leaders in the global concrete pump market. The innovation-based development of new products and efficient after-sales service by these vendors have made them the top leaders of the industry.
“The market is expected to witness growth in the coming years due to rapid residential construction around the world and development of infrastructure facilities in developing countries, such as India, Malaysia, and Indonesia,” says Gaurav Mohindru, a lead construction research analyst from Technavio.
Strategic mergers and acquisitions can provide the industry with necessary developments where international players will grow inorganically during forecast period by acquiring local vendors, resulting in market consolidation at a later stage.
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Top five concrete pump market vendors
Concord Concrete Pumps
Concord Concrete Pumps is one of the leading manufacturers of concrete pumps in the global market. The company started the manufacturing of truck-mounted or boom pumps for the North America market. The company came into limelight with the introduction of the largest boom pump in the world.
JUNJIN started as the manufacturer of spare parts and maintenance parts for concrete pumps and was later incorporated as JUNJIN Corporation. In 1991, the company manufactured its first concrete pump truck. By 2010, the company was manufacturing 35 models of concrete pumps, with a presence in 60 countries.
LIEBHERR is a Swiss-based manufacturer of the large equipment. The decentrally organized LIEBHERR Group has eleven companies under it. The company has its presence in the hospitality sector, and has hotel properties in Germany, Austria, and Ireland.
Putzmeister was initially founded to manufacture plastering machines. In 2012, Putzmeister and Sany merged to form the new global leader in concrete pumps. In the same year, the company acquired Intermix from Hans-Georg Stetter to strengthen its market position as a global leader in the concrete pump market.
SCHWING Stetter is a German-based manufacturer of concrete technology, and is one of the leading companies in the global concrete pump market. The company manufactured its first hydraulic twin-cylinder concrete pump in 1957 and its first truck mixer in 1958.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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