New York, Feb. 07, 2023 (GLOBE NEWSWIRE) -- The global truck mounted concrete mixer market is estimated to be valued at US$ .63 billion in 2023, with steady long-term projections, according to the latest insights by Persistence Market Research. The report estimates the market to expand at 5.2% CAGR from 2023 to 2033. Truck Mounted Concrete Mixer Market is expected to reach US$ 12.49 billion by 2033.
Leading regions are experiencing a sharp increase in the ready-mix concrete market. The concrete industry has been experiencing a technological revolution, making it easier to produce concrete with tighter controls.
With the use of sensors installed on trucks, systems are being used to convert the qualities of ready-mix concrete. For manufacturers of truck-mounted concrete mixers who focus on product innovation to acquire a competitive advantage, this is anticipated to present lucrative growth prospects. Rising demand from end users and contractors for truck mounted concrete mixers is further expected to drive market growth over the coming years.
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Key Takeaways from Market Study
- By product type, volumetric mixers are anticipated to witness prominent demand at 4.1% CAGR by volume during the forecast period 2023 to 2033
- By drum capacity, 6.1 m3 to 10 m3 truck mounted concrete mixers and being increasingly used in large commercial, residential, and infrastructure projects.
- The global truck mounted concrete mixers market is predicted to grow significantly in East Asia and South Asia Pacific. Sales in China, ASEAN nations, and India are anticipated to increase rapidly over the coming years.
“Rise in construction activity in both residential and non-residential sectors is having a significant impact on the demand for truck mounted concrete mixers. The market is anticipated to benefit from growing capital expenditure on the development of industrial and transportation infrastructure. Product introductions that combine better fuel efficiency with safety and user-friendly features are quite popular with manufacturers,” says a Persistence Market Research analyst.
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Competitive Landscape
Leading manufacturers of truck mounted concrete mixers include
- Liebherr
- AB Volvo
- KYB Corporation
- Liebherr-International AG
- Navister Inc.
- Oshkosh Corporation
- Sany Group
- Schwing Stetter Group
- Sinotruk, Tata Motors
- Zoomlion Heavy Industry Science and Technology Co., Ltd.
- XCMG
Truck mounted concrete mixer producers also follow significant supply trends, such as the launch of new goods and considerable R&D expenditures. Additionally, to increase their worldwide footprint, market players are aggressively investing in expansion, mergers, acquisitions, and strategic partnerships.
For instance:
- In October 2022, Schwing introduced new models of concrete mixers S 56 SXF, which offer large pumping capacity and simplified operation.
- In January 2022, Holcombe Mixers launched new concrete mixers G2 with advanced features.
More Valuable Insights on Offer
Persistence Market Research, a research and consulting firm, has published a new market research report on the global truck mounted concrete mixer market that contains industry analysis of 2018 to 2022 and opportunity assessment for 2023 to 2033.
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The report provides in-depth analysis of the market through different segments, namely, product type, drum capacity, and region. The report also provides supply and demand trends along with an overview of the parent market.
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About Persistence Market Research – Automotive and Transportation
The Automotive and Transportation division of Future Market Insights provides exclusive coverage and actionable insights about the automotive and transportation industry encompassing the automotive, aviation, shipping and marine, and railway sectors. Market findings and competition intelligence of OEM, aftermarket, services, and technology landscape have helped numerous industry stakeholders’ right from automakers, component manufacturers, channel partners, and service providers in taking informed decisions and keeping them up-to-date with market behavior.
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