PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1555518
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1555518
Concrete Placing Booms Market size was valued at USD 5,124.6 Million in 2023, expanding at a CAGR of 3.2% from 2024 to 2032.
A mobile truck-mounted concrete placing boom is equipped with a knuckle boom that can be raised to place concrete through an arm-mounted pipeline. During construction, it is employed to pump concrete into the proper location. Large construction and mining sites frequently use concrete laying booms because of their high pumping and time-saving capabilities. Usually, steel beams or concrete floor slabs provide support for concrete placing booms. Areas inaccessible to a truck-mounted or stationary concrete pump are a great fit for spider concrete placing booms. It may be connected to any concrete pump and is simple to install on the job site.
Concrete Placing Booms Market- Market Dynamics
Growing Construction Sector to Propel Market Growth
In the near future, there is expected to be a further increase in the construction of buildings, which has increased dramatically in recent years. There are supposedly 100 million structures in the world now. To accommodate the predicted 9.8 billion people on Earth by 2050, the United Nations estimates that about 1.6 billion additional structures will be required. Therefore, a rise in construction activity is driving up the market value of concrete placings. Populations around the world are growing dramatically, particularly in China and India. 7.9 billion people and 2.3 billion residential homes existed worldwide in 2021, according to Architecture and Design. According to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development's jointly released residential construction figures for June 2023, 1,440,000 buildings were approved nationwide, and 1,434,000 of those buildings have already started construction. Thus, it is anticipated that the growing global population will accelerate the concrete laying booms market's growth in the near future.
Concrete Placing Booms Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 3.2% over the forecast period (2024-2032)
Based on type segmentation, the hydraulic category was predicted to show maximum market share in the year 2023
Based on installation type segmentation, the tower category was the leading segment in 2023
Based on application segmentation, the railway category was predicted to show maximum market share in the year 2023
Based on region, North America was the leading revenue generator in 2023
The Global Concrete Placing Booms Market is segmented based on Type, Installation Type, Radius, Application and Region.
The market is divided into three categories based on type: Hydraulic, Electric, and Manual. The hydraulic category dominates the market. The boom is made up of an enclosed cabin at the end of a steel pipe. After placing the concrete foam inside the cabin, use a rope or chain to pull it to the proper location manually. Suitable for modest projects requiring the placement of concrete in difficult-to-reach areas.
The market is divided into the following categories based on application: Construction, Energy & Power, Mining, Railway, and Others (Tunneling, Airport, etc.). The railway category dominates the market and is likely to maintain its dominance during the forecast period. Booms are frequently utilized in railway building, upkeep, and repair operations. To guarantee a strong foundation for the track, the blocks must be precisely positioned in the concrete before the track is laid. The infrastructure-such as bridges, highways, and railroad stations-that supports electric rail transport systems must have a high degree of longevity and operational performance, and the industry is calling for an increase in the deployment of diverse applications.
Concrete Placing Booms Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
Throughout the forecast period, North America is anticipated to hold the greatest share of the global market for Concrete Placing Booms. The market is also expected to be helped by the growing need for truck mounted concrete pumps, stationary concrete pumps, and specialized concrete pumps in these nations as a result of the construction of new infrastructure. Furthermore, it is anticipated that the growing residential and commercial development activities in these nations will benefit the North American market. Sales of concrete putting booms are also anticipated to be supported by the region's rapidly growing nuclear power, railway, mining, and construction industries, as well as by an ageing population.
In addition, the Concrete Placing Booms market is anticipated to expand at the fastest rate in the world during the projected period in Asia Pacific. Growing numbers of private, public, and commercial buildings are being built, which is influencing the region's market dynamics. Asia Pacific's two largest markets for concrete placing booms are China and India. The International Trade Administration states that new infrastructure projects in the areas of energy, transportation, water systems, and urbanization are prioritized in China's 14th Five-Year Plan. Approximately US$ 4.2 trillion is anticipated to be invested overall in new infrastructure during the 14th Five-Year Plan period (2021-2025). Nine essential factors for energy efficiency and the development of green buildings are highlighted in the new strategy. Additionally, it mandates the construction of over 50 million square meters of net zero energy buildings and the retrofitting of over 350 million square meters of existing buildings. As a result, the boom in infrastructure development funding is also accelerating market growth in Asia Pacific.
The majority of concrete placing boom companies are making large investments in thorough R&D endeavors, mainly to create novel items. Furthermore, to enhance their concrete placing booms market share, they are implementing M&A, partnership, and collaboration tactics. Prominent companies in this sector include Schwing America Inc., Action Construction Equipment Ltd., Betonstar, Concord Concrete Pumps, Hyundai Everdigm, and others.
August 2023: The new 3S plant of Putzmeister Concrete Machines Pvt. Ltd. in Bengaluru, India, was enlarged. The company offers a range of products, such as line pumps, mining equipment, crawler concrete pumps, truck mixer concrete pumps, placement systems, and mixer pumps.
August 2022: ITAS-Cas d.0.0., a dependable provider in the truck mixer industry, was purchased by Putzmeister Concrete Machines Pvt. Ltd.