North America Concrete Pumps Market Report (2021-2031) by Scope, Segmentation, Dynamics, and Competitive Analysis

The North America concrete pumps market is projected to grow from US$ 629.32 million in 2023 to US$ 841.78 million by 2031, reflecting a compound annual growth rate (CAGR) of 3.7% during this period.

Executive Summary and Market Analysis

The North American market encompasses the United States, Canada, and Mexico. Key drivers of growth in the concrete pumps market include increasing infrastructure development, a rising need for renovation and repair, and rapid urbanization. The construction sector's expansion is a significant factor contributing to this growth. According to the Association of Equipment Manufacturers (AEM), the US construction market is anticipated to grow by 3% in 2024. Additionally, investments in energy, power, and oil and gas infrastructure are expected to boost demand for concrete pumps in the coming years. Government initiatives such as the Inflation Reduction Act and the Infrastructure Investment and Jobs Act are also pivotal in promoting infrastructure growth. For instance, in October 2023, the Canadian government allocated over US$ 10 million for the development of three new water and wastewater facilities, enhancing municipal services in regions like Fraser Lake, Burns Lake, and the District of Mackenzie. This investment is likely to stimulate the construction sector and, consequently, the concrete pumps market.

Market Segmentation Analysis

The North America concrete pumps market can be segmented based on type, reach, end user, and power capacity:

• By Type: The market is divided into boom pumps, line pumps, and specialized pumps, with boom pumps holding the largest market share in 2023.
• By Reach: Segmentation includes ranges of 30 to 44 m, 45 to 59 m, over 60 m, and less than 29 m, where the 30 to 44 m category dominated in 2023.
• By End User: The market is categorized into commercial, residential, and industrial sectors, with the commercial sector leading in market share in 2023.
• By Power Capacity: This includes categories of over 76 KW, 46-75 KW, and 30-45 KW, with the over 76 KW segment being the largest in 2023.

Market Outlook

The increasing population, urbanization, and rising per capita income are driving the demand for residential units globally. The United Nations reported that urbanization rose to approximately 57% in 2022, up from 52% in 2012. Furthermore, the global population reached nearly 8 billion in 2021, up from 7 billion in 2011. These trends indicate a growing need for residential construction and cement, which in turn fuels the demand for concrete pumps. According to the Global Cement and Concrete Association, global cement production reached 4 billion metric tons in 2020, underscoring the rising need for concrete and related equipment.

Country Insights

The North American concrete pumps market is primarily composed of the US, Canada, and Mexico, with the US holding the largest market share in 2023. The US market is significantly influenced by the demand for infrastructure development, renovation, and urbanization. The construction sector is a vital part of the US economy, generating approximately US$ 2.1 trillion in structures annually, as reported by the Associated General Contractors (AGC). Key areas of construction include industrial, energy and utilities, commercial, infrastructure, and residential sectors. The increasing demand for efficient concrete transfer at construction sites is expected to drive growth in the US concrete pumps market during the forecast period.

Company Profiles

Key players in the North America concrete pumps market include Alliance Concrete Pumps Inc., Concord Concrete Pumps Inc., DY Concrete Pumps Inc., Zoomlion Heavy Industry Science and Technology Co Ltd, XCMG Construction Machinery Co Ltd, Sany Heavy Industry Co Ltd, Liebherr-International AG, AJAX Engineering Limited, BETONSTAR, Sebhsa, Putzmeister America, Inc., CIFA S.p.A., KCP Concrete Pumps Ltd., Sermac Srl, and LUTON Group, among others. These companies are focusing on strategies such as expansion, product innovation, and mergers and acquisitions to enhance their market presence and offer innovative solutions to customers.

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