North America Concrete Pumps Market Report (2021-2031) by Scope, Segmentation, Dynamics, and Competitive Analysis.
No. of Pages: 179 | Report Code: BMIRE00032014 | Category: Manufacturing and Construction
No. of Pages: 179 | Report Code: BMIRE00032014 | Category: Manufacturing and Construction
The North America concrete pumps market size is expected to reach US$ 841.78 million by 2031 from US$ 629.32 million in 2023. The market is estimated to record a CAGR of 3.7% from 2023 to 2031.
North America consists of the US, Canada, and Mexico. Factors such as the rise in demand for infrastructure development, an increase in the need for renovation and repair work, and rapid urbanization influence the concrete pumps market growth. The development in the construction sector is one of the prime reasons for the growth of the concrete pumps market in North America. As per the Association of Equipment Manufacturers (AEM), the US construction market is expected to grow by 3% in 2024. The growing investment in the development and expansion of energy & power and oil & gas infrastructure are anticipated to fuel the demand for concrete pumps in the coming years. Key government initiatives and policies toward growth in infrastructure include Inflation Reduction Act and Infrastructure Investment and Jobs Act. In addition, in October 2023, the governments of Canada and British Columbia financed more than US$ 10 million for three new water and wastewater facilities in Canada to provide purified and more consistent municipal services. The rising investment in the municipalities of Fraser Lake, Burns Lake, and the District of Mackenzie in Canada is anticipated to drive the growth of the construction sector, propelling the concrete pumps market growth.
Key segments that contributed to the derivation of the North America concrete pumps market analysis are type, reach, end user, and power capacity.
Factors such as increasing population, urbanization, and growing per capita income are increasing the demand for residential units across the globe. As per the data published by the United Nations in 2022, the share of urbanization increased to ~57% in 2022 compared to 52% in 2012. In addition, in 2021, the global population reached almost 8 billion from 7 billion in 2011. These statistics show increased urbanization and population trends globally. This has led to increased demand for residential units across the globe. As per the data published by the Global Cement and Concrete Association in 2020, global cement production reached 4 billion metric tons. All these factors show an increased need for residential units and cement across the globe, leading to a rise in demand for concrete pumps, ultimately driving the concrete pumps market.
Based on country, the North America Concrete Pumps Market comprises the US, Canada, and Mexico. The US held the largest share in 2023.
The US holds a prominent share of the concrete pumps market in North America. Rising demand for infrastructure development, increasing requirements for renovation and repair work, and growing urbanization influence the concrete pumps market. The growth in the construction sector is a major driving factor influencing the US concrete pumps market. For instance, as per the insights from the Associated General Contractors (AGC), the construction sector in the US is one of the key contributing sectors to the US economy and generates about ~US$ 2.1 trillion worth of structures every year. The key sectors in the US construction market are industrial construction, energy and utilities construction, commercial construction, infrastructure construction, and residential and institutional construction. The rise in demand for concrete pumps to transfer liquid concrete at construction projects efficiently and economically is projected to propel the US concrete pumps market growth during the forecast period.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 629.32 Million |
| Market Size by 2031 | US$ 841.78 Million |
| Global CAGR (2023 - 2031) | 3.7% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
Some of the key players operating in the market include Alliance Concrete Pumps Inc.; Concord Concrete Pumps Inc; DY Concrete Pumps Inc; Zoomlion Heavy Industry Science and Technology Co Ltd; XCMG Construction Machinery Co Ltd; Sany Heavy Industry Co Ltd; Liebherr-International AG; AJAX Engineering Limited; BETONSTAR; Sebhsa; Putzmeister America, Inc.; CIFA S.p.A.; KCP Concrete Pumps Ltd.; Sermac Srl; and LUTON Group, among others. These players are adopting various strategies such as expansion, product innovation, and mergers and acquisitions to provide innovative products to their consumers and increase their market share.
The following methodology has been followed for the collection and analysis of data presented in this report:
The research process begins with comprehensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data for each market. Commonly referenced secondary research sources include, but are not limited to:
Note: All financial data included in the Company Profiles section has been standardized to USD. For companies reporting in other currencies, figures have been converted to USD using the relevant exchange rates for the corresponding year.
The Insight Partners conducts a significant number of primary interviews each year with industry stakeholders and experts to validate its data analysis and gain valuable insights. These research interviews are designed to:
Primary research is conducted via email interactions and telephone interviews, encompassing various markets, categories, segments, and sub-segments across different regions. Participants typically include:
The North America Concrete Pumps Market is valued at US$ 629.32 Million in 2023, it is projected to reach US$ 841.78 Million by 2031.
As per our report North America Concrete Pumps Market, the market size is valued at US$ 629.32 Million in 2023, projecting it to reach US$ 841.78 Million by 2031. This translates to a CAGR of approximately 3.7% during the forecast period.
The North America Concrete Pumps Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Concrete Pumps Market report:
The North America Concrete Pumps Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Concrete Pumps Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Concrete Pumps Market value chain can benefit from the information contained in a comprehensive market report.
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