Published By : 06 Jan 2017 | Published By : QYRESEARCH
As a result of the towering number of housing projects undertaken, the MENA truck-mounted concrete pump market appears to be a profit-making enterprise. Having replaced the tedious and inconvenient method of using cranes to lift up the concrete, the MENA truck-mounted concrete pumps are much easier to operate, with the benefit of low-priced labor. These factors might influence the growth of the MENA truck-mounted concrete pump market in coming years.
Recent trends bring out the efforts of manufacturers of upgrading their products. A variety of in-built features is provided by them. It has been predicted that by 2024, the MENA truck-mounted concrete pump market will rise up to US$253.4 mn. Between the years 2016 and 2024, the CAGR rate of expansion of the market will be 5.8%.
Truck-mounted mobile pumps, truck mixer concrete pumps and truck-mounted static pumps are the three ways of dividing the MENA truck-mounted concrete pump market. In terms of earnings, the truck-mounted mobile pumps are expected to be the most sought-after products in the MENA truck-mounted concrete pump market. In the year 2015, this segment contributed to about 51% of the entire MENA truck-mounted concrete pump market, followed by the truck-mounted static pump segment.
The key end-user segments
The market can be segmented into domestic, industrial and commercial units. The leading segment in terms of revenue generation is the domestic segment that held about 48% of the total market for MENA truck-mounted concrete pumps in 2015, followed by the commercial segment.
Major geographical segments
Between the years 2016 and 2024, UAE and Qatar can be the leading countries owing to the heightened levels of construction. Between 2016 and 2024, the truck-mounted concrete pump market in Qatar is predicted to rise to a promising CAGR of 7.5%. Besides these, North America also holds a potentially favorable growth rate.
The key companies in the MENA truck-mounted concrete pump market are the Leibherr Group, Putzmeister, Sany Group, KCP Heavy Industries among many. All of these players are working on the expansion of their clientele and upgrading their manufacturing units.