Wilmington, Delaware, United States, July 24, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global concrete mixer market is projected to expand at a CAGR of 6.0% from 2023 to 2031 and reach US$ 5.2 Bn by 2031.
Introduction of all-electric concrete mixer trucks is anticipated to fuel market development. Rise in demand for drum concrete mixers is anticipated to create substantial business opportunities for companies in the market.
Integration of in-drum sensors and other sensors with concrete mixer trucks helps operators/drivers ensure that concrete mix is achieved as per quality and specification requirements.
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Concrete Mixer Market: Prominent Players
Leading players are focusing on technological advancements, strategic partnerships, and acquisitions to increase their market share. Most prominent companies are unveiling next-generation concrete mixers to increase sustainability in construction activities.
Ammann Group, Caterpillar Inc., Crown Construction Equipment, Fangyuan Group Co. Ltd, Liebherr-International AG, Lino Sella World, Multiquip Inc., SANY Group Co., Ltd., Terex Corporation, and Zhengzhou Great Wall Machinery Manufacture Co., Ltd.
Key Findings of Study of Concrete Mixer Market
Incorporation of Advanced Technologies (IoT) in Concrete Mixers
Constant technological advancements in concrete mixers are enabling the construction industry to improve the quality of concrete and reduce waste. Significant emphasis on adopting technologies that enhance sustainability of concrete plants is a key market trend. For instance, increase in usage of Internet-of-Things (IoT) has helped companies recycle concrete post-use instead of disposing it as waste. Increasing incidence of concrete theft is spurring the demand for mixers that are equipped with real-time positioning monitoring technology. For instance, AT&T introduced platform-as-a-service (PaaS) solution for smart concrete mixers.
Self-loading and Mobile Concrete Mixers Gaining Traction in Construction Industry
Increase in utilization of self-loading concrete mixers in the construction of roads and infrastructure is expected to bolster the global concrete mixer market. Self-loading concrete mixers are likely to gain traction in the construction industry due to benefits such as versatility (they can be used to batch, mix, and transport concrete), high reliability, and low-operating & maintenance costs. Manufacturers in the global concrete mixer market are incorporating health monitoring system in self-loading concrete mixers. Increasing rate of adoption of mobile concrete mixers is anticipated to augment the market. These are characterized by advanced proportioning system which helps operators minimize any overages and shortages.
Key Growth Drivers of Concrete Mixer Market
Significant increase in private infrastructure investments in developing countries is a key driver of the global concrete mixer market. Governments are strengthening initiatives to boost infrastructure development. In developing countries, they are undertaking measures to support sustainable housing, which, in turn, is likely to spur the concrete mixer market growth.
According to most recent data by the World Bank, private participation in infrastructure (PPI) commitments in low- and middle-income countries reached US$ 91.7 Bn across 263 projects, registering an increase of 23% from 2021. PPI investments is also increasing at a rapid pace in emerging economies, such as China, India, and Africa.
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Regional Landscape
Asia Pacific is projected to account for the leading market share during the forecast period. Singapore, China, and India offer significant opportunities in the market. Rapid expansion of the construction industry in Asia is expected to offer significant opportunities for companies in the market. Mega-construction projects, such as The Belt and Road Initiative in China and The Diamond Quadrilateral high-speed rail network project in India, are boosting the market in Asia Pacific.
Vendors in the market are focusing on expanding their geographical footprint in Asia in order to drive business growth in the next few years. Rapid adoption of compact concrete mixers in urban construction activities in the region is a key trend expected to augment market value in the near future.
Presence of prominent companies is propelling market growth in in North America. Significant demand for concrete in the construction of dams, ports, airports, and power plants in developed as well as developing countries is projected to accelerate market development. Rise in investment in dam safety and rehabilitation projects in developed countries, especially in the U.S., is anticipated to create significant opportunities in the concrete mixer market.
Segmentation
The concrete mixer market is segmented based on
Type
- Fixed
- Batch Mixers
- Drum Product Type Mixer
- Tilting Drum Mixer
- Non-tilting Mixer
- Reversing Drum Mixer
- Pan Product Type Mixer
- Drum Product Type Mixer
- Continuous Mixers
- Batch Mixers
- Portable
- Batch Mixers
- Drum Product Type Mixer
- Tilting Drum Mixer
- Non-tilting Mixer
- Reversing Drum Mixer
- Pan Product Type Mixer
- Drum Product Type Mixer
- Continuous Mixers
- Batch Mixers
Power Source
- Diesel Operated
- Electric Operated
Drum Capacity
- Less Than 200 Liter
- 201- 450 Liter
- 451 – 750 Liter
- More Than 750 Liter
Operation Mode
- Manual
- Semi-automatic
- Automatic
End-use
- Heavy and Civil Engineering
- Bridges
- Roads
- Railways
- Airports
- Others
- General Construction
Distribution Channel
- Direct
- Indirect
Region
- North America
- South America
- Middle East & Africa
- Europe
- Asia Pacific
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