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NEWARK, DE / ACCESSWIRE / May 1, 2023 / According to Future Market Insights (FMI), the Australia Concrete Pump Market will be worth US$ 372.3 Million by 2033. It is expected to grow at an astounding 6.0% CAGR from 2023 to 2033. The market is expected to record a valuation of US$ 208.4 Million in 2023.
Australia concrete pump industry is set to be pushed by rising demand from the construction industry. Concrete pumps offer high accuracy and quality in terms of concrete pouring, which is expected to augment their demand.
Concrete pumps are considered to be essential equipment in the construction sector across Australia. Their ability to efficiently transfer liquid concrete from a mixing truck to the concrete site is likely to make them immensely popular. High demand for residential and commercial buildings in the country is projected to accelerate concrete pump demand in the forecast period.
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The government of Australia is estimated to invest in several infrastructure projects such as roads, bridges, and public transportation. Such projects require concrete pumps and the factor is set to lead to increased demand across different regions in Australia.
The growing usage of building information modeling (BIM) to create digital models of construction projects is another crucial factor that would drive sales. Concrete pumps are expected to be integrated with BIM models in Australia in the next ten years.
These would also allow for accurate planning and execution of concrete placement. These pumps are also expected to aid in reducing waste and improving concrete efficiency.
Key manufacturers are developing automated concrete pumping systems that are self-level, self-compacting, and self-smoothing. These systems are likely to help in correcting concrete consistency without any interventions.
Key Takeaways:
- By type, mobile concrete pumps are estimated to create an incremental opportunity of US$ 123.0 Million during the forecast period.
- In terms of end-use, the residential segment is anticipated to exhibit a CAGR of 5.8% from 2023 to 2033.
- Queensland region is projected to hold a market share of about 24.8% by the end of 2023.
- New South Wales is expected to generate an Australia concrete pump industry share of around 22.0% in 2033.
- The Tasmania concrete pump market is anticipated to hold a share of 4.9% in 2023.
‘Need for highly sustainable construction practices is expected to boost sales of concrete pumps in Australia through 2033. Concrete pumps can help to reduce waste and improve efficiency in the construction process, which can have a positive impact on the environment.'- says a lead analyst at FMI.
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Competitive Landscape:
Australia concrete pump market is fairly consolidated owing to the presence of prominent players across various regions. Unorganized players are estimated to account for around 25% to 30% of market shares. Prominent players are focusing on the development of new products and are collaborating with dealers to meet changing requirements of consumers.
For instance,
- In November 2022, A China-based manufacturer called SANY Group increased emphasis on the creation of new products and invested in research initiatives to boost its position. It specializes in the research, manufacturing, and global distribution of machinery and equipment for the construction industry.
- In February 2022, Zoomlion Heavy Industry Science & Technology Co., Ltd. announced that it creates and produces high-tech equipment. The company has primary consumers in the technical and agricultural sectors. It is actively pursuing strategic transformation in an effort to become a producer of high-end machinery. By fusing financial services, agricultural equipment, and technical equipment, it aims to expand its presence.
Get Find More Valuable Insights:
The research report analyzes the market demand trends of the Australia concrete pump industry. The market estimation and growth projection are based on factors such as end-use industries development, COVID-19 crisis impact, replacement ratio, and adoption rate of concrete pumps.
As per Future Market Insights (FMI) research scope, the Australia concrete pump market has been studied and segmented on the basis of type (static concrete pump, mobile concrete pump, specialized concrete pump), end use (residential, commercial, industrial), and region. The report provides qualitative and quantitative information on various players in the market. This report also tracks the supply and demand sides of the market.
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Table of Content (ToC):
1. Executive Summary | Australia Concrete Pump Market
1.1. Australia Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends
4. Key Success Factors
4.1. Product Adoption / Usage Analysis
4.2. Product USPs / Features
4.3. Strategic Promotional Strategies
5. Australia Concrete Pump Market Demand Analysis 2018 to 2022 and Forecast, 2023 to 2033
5.1. Historical Market Volume (Units) Analysis, 2018 to 2022
5.2. Current and Future Market Volume (Units) Projections, 2023 to 2033
5.3. Y-o-Y Growth Trend Analysis
6. Australia Concrete Pump Market - Pricing Analysis
6.1. Regional Pricing Analysis By Type
6.2. Australia Average Pricing Analysis Benchmark
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
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