Concrete Pumps Market is expected to reach US$ 5.05 Billion by 2031

Increasing Labor Shortage Issues to Fuel Concrete Pumps Market Growth During Forecast Period 

According to our latest study, "Concrete Pumps Market Size and Forecast (2021–2031), Global and Regional Share, Trend, and Growth Opportunity Analysis – by Type, End User, Power Capacity, and Geography," the market was valued at US$ 3.35 billion in 2023 and is expected to reach US$ 5.05 billion by 2031; it is estimated to record a CAGR of 5.3% from 2023 to 2031. The report includes growth prospects owing to the current concrete pumps market trends and their foreseeable impact during the forecast period.    

For the last few years, the construction industry has been witnessing labor shortage issues globally. According to the data published by Europe's Employment and Social Developments in 2023, the labor shortage issues increased by three times compared to those observed in 2013. According to the European Construction Industry Federation, in 2023, in the Netherlands, 27,000 positions in the construction industry remained unfilled, whereas Spain experienced demand for 500,000 workers in the construction industry in 2023. In Bulgaria, the overall labor shortage reached 38.5%, whereas in Germany, the Federal Employment Agency recorded ~52,000 vacancies in 2023. Further, as per the data published by Worldwide Recruitment, a workforce solution provider company, in 2023, the construction industry in the US experienced a 650,000 workers shortage. Due to the increased labor shortage issues across the globe, many real estate developers and construction companies started adopting machines and equipment to increase the efficiency and productivity of the current workforce. Concrete pumps are one of such machines and equipment that are helping construction companies to increase efficiency and productivity. In addition to increased productivity, concrete pumps help reduce the wastage of construction materials. Concrete pumps use less water, which leads to improved quality of the concrete mix, resulting in fewer cracks and other deformities in the construction. In addition, in complex structures, the concrete pumps transfer the concrete mixture to desired areas accurately without any spoilage, which leads to reduced material wastage. Further, the concrete pumps prepare and transfer the concrete mixture at a higher speed compared to manual operations, which leads to decreased construction process time, ultimately increasing profits. Thus, owing to the increasing labor shortage issues and the high efficiency of concrete pumps, the adoption of concrete pumps has increased in the last few years, ultimately driving the market.  

Concrete Pumps Market Analysis — by Geography

Source: The Insight Partners Analysis

Alliance Concrete Pumps Inc.; Concord Concrete Pumps Inc.; DY Concrete Pumps Inc.; KCP Concrete Pumps Ltd.; Zoomlion Heavy Industry Science and Technology Co Ltd.; XCMG Construction Machinery Co Ltd; Sany Heavy Industry Co Ltd; Liebherr-International AG; AJAX Engineering Limited; Sermac Srl; BETONSTAR; LUTON Group; Sebhsa; Putzmeister America, Inc.; and CIFA S.p.A. are among the key players profiled in the concrete pumps market report. Several other major players were also studied and analyzed during the market study to get a holistic view of the market and its ecosystem.

The report includes the concrete pumps market forecast by type, end user, and power capacity. By type, the market is divided into boom pumps, line pumps, and specialized concrete pumps. In terms of revenue, the boom pumps segment held the largest concrete pumps market share and is expected to record the highest CAGR during the forecast period.

The scope of the concrete pumps market report focuses on North America (the US, Canada, and Mexico), Europe (Spain, the UK, Germany, France, Italy, and the Rest of Europe), Asia Pacific (South Korea, China, India, Japan, Australia, and the Rest of Asia Pacific), the Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America). Asia Pacific dominated the market in 2023, followed by Europe and North America.

The Asia Pacific concrete pumps market is segmented into Australia, South Korea, India, China, Japan, and the Rest of Asia Pacific. In terms of revenue, China held the largest concrete pumps market share in APAC. The construction and infrastructure sector in China has witnessed transformative developments driven by rapid economic growth and the nation's ascent as a global economic powerhouse. The country is one of the largest construction markets in the world. The government included an expenditure of US$ 4 trillion on infrastructure development in 2024, which is an increase of ~3.8% compared with the 2023 Budget. In February 2024, the Shanghai government announced its target to initiate work on 24 projects with a combined investment of US$ 5.8 billion in 2024. In March 2024, the government of China announced its target to fund US$ 173 billion in transport infrastructure projects by the end of 2024. Moreover, it announced an investment of US$ 19.6 billion to build 32 railway infrastructure projects in the Yangtze River Delta region through 2024. The government's commitment to repositioning its key airports as international hubs has resulted in massive investments in airport infrastructure development activities, encompassing new runways, cutting-edge terminals, and advanced technologies. According to the government's transportation network planning outline, the country had ~240 airports in 2022, and it aims to raise the number to 400 airports by 2035. According to the Civil Aviation Administration of China (CAAC), 32 large and busy airports in the country are suffering from capacity overload, and 40 of its 50 largest airports need renovation or expansion. China's 14th Five-Year Plan covers 140 airport projects, including greenfield construction, relocation, renovation, and expansion by 2025. Such a rise in government initiatives and a surge in investments in infrastructure development in various sectors are expected to fuel the demand for concrete pumps in China during the forecast period.

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