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Concrete Placing Booms Market Poised to Surpass USD 6.3 Billion by 2031, TMR Analysis Suggests

Submitted by BhushanTMR on Fri, 04/19/2024 - 07:07

Market Overview

The global concrete placing booms market, valued at approximately USD 4.9 billion in 2022, is projected to reach USD 6.3 billion by 2031, with a compound annual growth rate (CAGR) of around 2.9%. These booms play a vital role in construction projects, facilitating the efficient pouring of concrete at elevated heights and distances.

Their adoption has surged due to the expansion of the construction industry, especially in urban areas and emerging economies, alongside advancements in construction techniques.

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Market Drivers and Challenges

• Rapid Urbanization and Infrastructure Development: Urbanization and infrastructure projects globally drive the demand for concrete placing booms, especially in high-rise construction and large-scale infrastructure endeavors.
• Demand for Faster Construction: To meet tight project deadlines and enhance construction productivity, there's a growing need for efficient concrete pouring solutions, fueling the adoption of placing booms.
• Safety and Regulatory Compliance: Stringent safety regulations necessitate the use of certified and reliable equipment, contributing to the demand for safe and compliant concrete placing booms.
• Operational Challenges: Limited access to construction sites, uneven terrain, and logistical constraints pose operational challenges, requiring innovative solutions and skilled operators.
Competitive Landscape

The concrete placing booms market features established players and emerging companies:

• Action Construction Equipment Ltd.
• Betonstar
• Concord Concrete Pumps
• Hyundai Everdigm
• Liebherr-International Deutschland GmbH
• SANY Group
• Schwing America Inc.
• Sermac Srl
• XCMG Group

Recent Developments

• Technological Innovations: Manufacturers incorporate advanced features like remote-controlled operation, telescopic booms, and hydraulic systems for enhanced maneuverability and precision.
• Integration of Automation: Automation and robotics are integrated to improve efficiency, reduce manual labor, and enhance safety on construction sites.

Key Players and Strategies

• Putzmeister Holding GmbH: Offers a wide range of products with innovative features such as modular designs and advanced control systems.
• Schwing Stetter (India) Pvt. Ltd.: Focuses on product quality and reliability, leveraging extensive experience to develop durable and high-performance concrete placing booms.
• Zoomlion Heavy Industry Science & Technology Co., Ltd.: Emphasizes research and development to introduce technologically advanced solutions.
• SANY Group: Emphasizes market expansion through strategic partnerships and acquisitions, offering a comprehensive portfolio worldwide.

Future Outlook and Opportunities

• Technological Advancements: Continued advancements in automation, robotics, and IoT technology are expected to enhance efficiency, safety, and precision.
• Focus on Sustainability: Growing emphasis on sustainability in construction practices may drive demand for energy-efficient and environmentally friendly solutions.
• Market Expansion in Emerging Economies: Rapid urbanization and infrastructure development present opportunities for market expansion and strategic partnerships.

Frequently Asked Questions (FAQs)

1. Key Factors Driving Market Growth: Rapid urbanization, infrastructural development, and increasing demand for high-rise construction projects globally.
2. Major Players: Putzmeister, Schwing, SANY, Zoomlion, and Concord Concrete Pumps, among others.
3. Challenges Faced by Manufacturers: High initial investment costs, stringent regulations, technical complexities, fluctuating raw material prices, and intense competition.
4. Recent Developments: Introduction of new truck-mounted concrete boom pumps with advanced features and technologies.
5. Growth Prospects: Steady growth expected due to increasing construction activities globally, ongoing technological advancements, and emerging market opportunities.

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