Product Code: 69551
The concrete mixer market is anticipated to register a CAGR of about 3% during the forecast period (2020 - 2025).
- The rapid urbanization, rising populations, strong economic growth, and growth in construction activity in both developed and developing countries, are expected to fuel the demand of the concrete mixers in the forecast period. Global Construction Perspectives Limited and Oxford Economics Limited have estimated that the global construction industry accounts for 14.7% of global GDP by 2030.
- Applications such as the construction of concrete roads, power plants, canals, airports, dams, harbors, and other large-scale construction sites are posing huge demand for large quantities of concrete. Concrete mixing plants that can yield up to 330 m³ of hardened concrete per hour and concrete mixer truck which can transport up to 10 m³ of concrete at a time are the perfect solution where large volumes of concrete to be mixed on-site.
- According to Global Construction 2030 cumulative volume of construction will reach USD 212 trillion by 2030, with more than one third that is USD 77.8 trillion contributions is from emerging Asian economies. In addition to that China, the United States, India, Indonesia, UK, Mexico, Canada, and Nigeria will account for 70% of all global growth in construction to 2030. In this study, the UK and Nigeria are the two major positives as the UK government is coming up with several global megaprojects similarly Nigeria is set to witness significant population growth by 2030, and likely exceed that of the US to become the fifth most populous country in the world.
- With an estimated worldwide annual output of 4 billion cubic meters, concrete is the most widely used construction material in the world. Ready-mixed concrete is being prepared in a mixing plant instead of being mixed on the job site and being transported in concrete mixing transport trucks. These tracks consist of the drum, which is installed on a chassis of a truck, which is either driven by the truck engine or by a separate device with many spiral blades inside the drum. The concrete mixing systems are designed for rapid setup within 36-40 hours. Fully electrically and pneumatically pre-installed transport units are linked up with ease using plug-in connections. These systems are easy to operate, robust and come with good accessibility for maintenance work.
Key Market Trends
Residential Construction is Contributing the Concrete Mixer Market Growth
Cities are growing at a prodigious rate, providing an amazing opportunity for the development of local economies, where the residents need good, affordable housing. Governments are including plans in their budget to support sustainable community and housing developments to provide affordable housing for homeless and vulnerable families. For instance,
- In India, the housing industry is one of the fastest-growing sectors as it has an estimated shortage of around 18 million houses, in which 99% is in the economically weaker sections of society. The Indian government has come up with various housing schemes with an ambitious plan for offering people affordable housing under the Housing for All initiative, by the year 2022.
Asia-Pacific Is Expected to Lead the Concrete Mixer Market
China, Singapore, and India are driving the global concrete mixer market growth, whereas Japan is struggling owing to the decline in housing, as Japan's population is shrinking. China's multibillion-dollar 'one-belt, one-road' policy, or China Silk Road which is connecting South-east Asia to Eastern Europe and Africa, includes 71 countries that account for half the world's population and a one-fourth of global GDP, it is providing good opportunities across Asia and neighboring countries. Although this initiative has raised concerns as it is a form of economic imperialism that gives China too much leverage over other smaller and underdeveloped countries. Whereas India is one of the fastest-growing construction markets in the world, as India will likely to overtake China as the most populated country by 2022.
Owing to that India is also the largest market for housing in the world and will need to build millions of houses over the years to meet the needs of its growing and rapidly urbanizing population.
Additionally, Asia is the home for top construction companies whose collective sales account for around 50% of the global sales in the construction industry.
The concrete mixer market is moderately consolidated owing to a limited number of active players and the requirement of high initial investment cost. Some of the major players in the market are, Liebherr Group, SANY GROUP, Shantui Construction Machinery Co. Ltd., Terex Corporation, and Zoomlion Heavy Industry Science & Technology Co., Ltd, amongst others. The companies are expanding their presence by opening new plants and making existing concrete mixers more advanced. For instance,
- In 2020, Liebherr Mobilmix 3.5 was involved in approx. USD 800 million projects of construction of the world's largest lock in the world in IJmuiden, which will be connecting Amsterdam with the sea. This project has a requirement or around 300,000 m³ of concrete.
- In 2019, Schwing Stetter India signed an MoU with the Tamil Nadu Government during, according to the MoU, Schwing Stetter India will invest of USD 32 million in a new plant and will be scaling it up to USD 47 million over four years.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
Table of Contents
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
- 4.1 Market Drivers
- 4.2 Market Restraints
- 4.3 Industry Attractiveness - Porter's Five Forces Analysis
- 4.3.1 Threat of New Entrants
- 4.3.2 Bargaining Power of Buyers/Consumers
- 4.3.3 Bargaining Power of Suppliers
- 4.3.4 Threat of Substitute Products
- 4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
- 5.1 By Type
- 5.1.1 Mixer Trucks
- 5.1.2 Mixing Plants
- 5.2 By Application Type
- 5.2.1 Residential
- 5.2.2 Commercial
- 5.3 By Geography
- 5.3.1 North America
- 126.96.36.199 United States
- 188.8.131.52 Canada
- 184.108.40.206 Rest of North America
- 5.3.2 Europe
- 220.127.116.11 Germany
- 18.104.22.168 United Kingdom
- 22.214.171.124 France
- 126.96.36.199 Rest of Europe
- 5.3.3 Asia-Pacific
- 188.8.131.52 India
- 184.108.40.206 China
- 220.127.116.11 Japan
- 18.104.22.168 South Korea
- 22.214.171.124 Rest of Asia-Pacific
- 5.3.4 Rest of the World
- 126.96.36.199 Brazil
- 188.8.131.52 Mexico
- 184.108.40.206 United Arab Emirates
- 220.127.116.11 Other Countries
6 COMPETITIVE LANDSCAPE
- 6.1 Vendor Market Share
- 6.2 Company Profiles
- 6.2.1 Liebherr Group
- 6.2.2 SANY Group
- 6.2.3 SCHWING Stetter
- 6.2.4 Shantui Construction Machinery Co. Ltd.
- 6.2.5 XCMG Co. Ltd
- 6.2.6 Zoomlion Heavy Industry Science & Technology Co., Ltd
- 6.2.7 BHS-Sonthofen GmbH
- 6.2.8 Terex Corporation
- 6.2.9 Anhui Hualing Automobile Group Co Ltd
- 6.2.10 Akona Engineering Pvt. Ltd.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS