A recent report published by
Infinium Global Research on the concrete mixing machines and tools market provides
in-depth analysis of segments and sub-segments in the global as well as
regional concrete mixing machines and tools market. The study also highlights
the impact of drivers, restraints, and macro indicators on the global and
regional concrete mixing machines and tools market over the short term as well
as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the global concrete mixing machines and tools market. According
to the report, the global concrete mixing machines and tools market is
projected to grow at a CAGR of around 7% over the forecast period of 2022-2028.
The revenue generated by the
market was over USD 10 billion in 2022 and is expected to reach more than USD
15 billion in 2028 and is expected to grow with a CAGR of around 7% over the
forecast period 2022-2028. Concrete mixing machines homogeneously combine
cement water and produce concrete mechanically. There are various types of
concrete available that make concrete production quick and economical. A
typical concrete mixer uses a revolving drum to mix the components and the
alternative method of mixing concrete is by hand. The interior of the drum for
concrete mixing is fitted with a spiral blade. Portable concrete mixers may
power gasoline engines, although it is more common than they are powered by
electric motors using standard mains current. For smaller jobs, such as
residential repairs and renovations many cubic yards of concrete are not
required hence handheld concrete machines are preferred more as they are more
handy and easy to use.
The introduction of handheld portable
mixing tools for residential repairs is the major factor driving the growth of
the concrete mixing machines and tools market. In addition, changing trends in
the construction industry have resulted in the enhancement of mixing
technologies for concrete production as today's industries require shorter
mixing times for industrial production of concrete. This, in turn, is fuelling
the growth of the concrete machines and tools market. However, the construction
industry is slow to adopt new technologies hence productivity has been
quiet and even declined in some cases, which in turn is hampering the growth of
the concrete mixer machines and tools market during the forecast period. Furthermore,
Digitization has added several features and has resulted in huge growth
opportunities for the concrete mixing machines and tools market. Therefore, the new
technologies are incorporating systems with intelligent systems, new
software applications, and digital sensors that are integrated with the
platform of building information modeling. The construction sector felt the
severe effects of the covid-19 pandemic. The pandemic spread around the world
in no time. In order to curb the spread of the pandemic, stringent measures
were adopted by countries around the world with immediate effect. This
caused the postponing of construction projects and the halting of work on the
construction sites. This led to cost overruns and the workforce was available
in limited numbers. With the stopping of work at construction sites and no skilled
labor to operate, the use of concrete mixing machines and tools declined
drastically. The concrete companies limited their production in response to
stringent physical restrictions. This caused a severe decline in the demand for
concrete mixing machines and tools in the construction sector around the world.
As the world is recovering from the pandemic, the demand is again rising in the
market.
Among the geographies, Asia Pacific dominated
the concrete mixing machines and tools market. The growth in the Asia Pacific
region is increasing at a rapid pace owing to rapid urbanization and
infrastructure in countries such as India, China, and Indonesia. Moreover, the expansion of road infrastructure along with government initiatives towards
construction and industrial development in the Asia Pacific region is
anticipated to have a positive impact on the concrete mixing machines and tools
market. Many concrete mixing machines and tool manufacturers are setting up
their manufacturing plants as the demand from the construction sector is
growing and setting up a manufacturing plant is relatively less costly and very
convenient in developing countries of Asia-Pacific. Furthermore, Asia-Pacific
is one of the leading regions in the production of concrete and the construction
of industrial, commercial, and residential buildings is also growing.
The report on the global concrete
mixing machines and tools market covers segments such as types, mobility, and
end use. On the basis of types, the sub-markets include concrete mixers, and
concrete tools. On the basis of mobility, the sub-markets include portable, and
non-portable. On the basis of end use, the sub-markets include building works,
civil works, power plants, and others.
The report provides profiles of the companies in the market such as Terex Corporation, Zoomlion Heavy Industry Science & Technology Co., Ltd, Shantui Construction Machinery Co. Ltd, Sinotruk Hong Kong Ltd., Sany Group, Caterpillar, Liebherr-International AG, Schwing Stetter, AJAX.
Report Highlights:
The report provides deep insights
into demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of the concrete mixing machines and tools market. Moreover, the study
highlights current market trends and provides forecast from 2022-2028. We also
have highlighted future trends in the market that will affect the demand during
the forecast period. Moreover, the competitive analysis given in each regional
market brings an insight into the market share of the leading players.
Please Choose One of them.