North America Ride-on Power Trowel Components Market
Report ID: PMRREP33538
Number of Pages: 176
Format: PPT, PDF, EXCEL
Industry: Industrial Automation
Published Date: August-2023
As per a new study by Persistence Market Research, the North America ride-on power trowel components market recorded 4.8% Y-o-Y growth in 2022 and is estimated to be valued at US$ 26,462.6 thousand in 2023. The market is projected to reach US$ 43,243.9 thousand by the end of 2033, expanding steadily at 5% CAGR from 2023 to 2033.
Ride-on power trowels are used in the construction industry to deliver a precise finish to the surface of a floor, reducing the amount of time required to complete a project and stay within budget. Ride-on power Trowels components provide advantages such as improved safety features, higher efficiency, decreased processing time, improved component dispersion, enhanced mixing, better steering mechanism, and superior flow qualities.
Ride-on power trowels are popular in the rental equipment industry for retrofitting to improve component dispersion and decrease work time, consequently boosting efficiency and offering a high-quality finish. As such, trowel machine rental plays an important part in revenue generation for various stakeholders.
Trowel blades, rotary blades, and float pans are integral parts of ride-on power trowel machines, utilized in the construction industry for concrete finishing purposes. Trowel blades, which are rotating discs affixed to the underside of the machine, are instrumental in achieving a smooth and leveled concrete surface by smoothing and leveling the freshly poured concrete. Government investments in infrastructure development and urbanization projects are pushing the demand for trowel machine parts.
| Attribute | Key Insights |
|---|---|
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North America Ride-on Power Trowel Components Market Size (2022A) |
US$ 25,253.6 Thousand |
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Estimated Market Value (2023E) |
US$ 26,462.6 Thousand |
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Projected Market Value (2033F) |
US$ 43,243.9 Thousand |
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Value CAGR (2023 to 2033) |
5% |
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Collective Value Share of Top 1 Countries (2023E) |
86.4% |
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From 2018 to 2022, the market expanded at a CAGR of 4.8%. Demand for ride-on power trowel components in the region was driven by factors such as rising infrastructure development and urbanization projects.
The market is anticipated to progress at a CAGR of 5% through 2033. Increasing utilization of ride-on power trowel components in construction is a key driver for the growth of the market. This machine offers various benefits such as being more efficient and accurate and safer to use. Road construction, airport runways, and commercial and residential building projects are generating high demand for ride-on power trowels components.
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Get a Customized Version“Government Investments in Infrastructure Development and Urbanization Projects”
Growing demand for efficient and high-quality equipment in the North American construction industry, fueled by government investments in infrastructure development and urbanization projects, has led to an increase in the use of ride-on power trowels. Trowel blades and float pans used in these machines are designed to deliver a precise finish to the surface of a floor, reducing the amount of time required to complete a project and stay within budget.
“Growing Use of Ride-on Power Trowels for Repair & Maintenance of Existing Infrastructure”
Growing trend of renovation and repair projects in North America is driving demand for high-performance equipment, including ride-on power trowels. These machines offer several advantages over manual trowels, including faster completion times, improved consistency, and the ability to cover larger areas with ease.
Increasing use of ride-on power trowel components in the repair and restoration of infrastructure projects is also contributing to the demand for these machines. This, combined with the need to meet modern safety and functionality standards, has made ride-on power trowel components essential components in the repair and restoration sector.
“Rise of e-Commerce and Increasing Industrial Construction”
Growth of e-Commerce and the need for efficient warehousing solutions in North America has boosted construction projects. Distribution centers, logistics hubs, and manufacturing facilities require sturdy and functional concrete floors that can withstand heavy machinery, forklift traffic, and constant load-bearing.
Construction companies are turning to power trowels to increase the quality of finishing required on these industrial surfaces. Use of efficient ride-on power trowel components is essential in achieving the desired level of finish, durability, and levelness.
“High Cost and Rapid Wear Associated with Power Trowel Components”
Power trowel components play a crucial role in concrete finishing but they pose a significant restraint due to their high cost and rapid wear. The replacement frequency of these tools is influenced by various factors, including the concrete type, frequency of use, and tool quality.
Contractors often find themselves needing to replace power trowel blades and pans after just a few hours of use, which results in significant expenses and time consumption. The accumulated cost of frequent replacements over time further exacerbates the restraint, making it financially burdensome for contractors.
High cost of ride-on power trowels themselves can make them unaffordable for many contractors, thereby limiting the demand for power trowel blades and float pans as well. The combination of high replacement costs and the initial investment required for the equipment poses a significant restraint for the North America ride-on power trowel components market.
What is the Growth Outlook for the Market in Canada?
“Rising Use of Ride-on Power Trowel Components in Infrastructure Development”
The market in Canada is projected to expand at a CAGR of 5.3% during the forecast period, driven by significant growth in infrastructure development and urbanization projects. Demand for ride-on power trowels in industries such as construction, rental equipment industry, and infrastructure development is driving the need for efficient and effective solutions for achieving smooth and even finishes.
Significant investments in infrastructure development and urbanization projects, such as road networks, transportation systems, and construction projects, have heightened the importance of ride-on power trowel components. Anticipated urban expansion and rural decline in Canada are poised to heighten demands on both urban and rural infrastructure, consequently driving an increase in sales of components of ride-on power trowels.
Why is the United States a Key Market for Ride-on Power Trowel Component Manufacturers?
“Increasing R&D Investments in Development of Efficient Construction Equipment”
The market in the United States is projected to expand at a CAGR of 4.2% between 2023 and 2033.
By investing in R&D, companies in the United States are discovering and developing more effective and efficient tools for achieving smooth and even finishing of concrete surfaces to meet the changing needs of their customers.
The United States is one of the world's largest consumers and manufacturers of ride-on power trowel components. The country has advanced manufacturing capabilities, a commitment to R&D, a favorable business environment, and a strategic geographical location. As the market is growing, the United States is well positioned to maintain and expand its share in the ride-on power trowel components market.
Which Application of Ride-On Power Trowel Components is Poised to Generate High Revenue?
“Market Benefitting from Wide Use of Ride-on Power Trowels to Enhance Construction Efficiency”
The concrete finishing equipment segment is predicted to expand at a CAGR of 5% during the forecast period. Utilized in retrofitting and renovation endeavors, ride-on power trowel components contribute to tasks such as concrete leveling, imperfection removal, and uniform finishing. This expedites project completion and budget adherence. Employing top-tier trowel blades and float pans facilitates quicker and more effective finishing processes, culminating in the attainment of a superior-quality finish.
Ride-on trowel components machines offer several advantages over manual trowels, including faster completion times, improved consistency, and the ability to cover larger areas with ease. The increasing use of power trowel blades and float pans in the repair and restoration of infrastructure is also contributing to the demand for these machines.
The need to adhere to contemporary safety and functionality norms, coupled with the requirement for repair and restoration of infrastructure projects, has elevated the significance of power trowel blades and float pans as indispensable components.
Which Product Type Accounts for High Utilization?
“Cost-effectiveness of Float Pans Driving Widespread Utilization in Construction Sector”
Sales of float pans are anticipated to rise at 6.4% CAGR during the forecast period in the ride-on trowel market. These circular metal plates affix to trowel arms or spiders, boasting a proven track record in enhancing slab flatness. Employed in initial concrete finishing, float pans effectively level surfaces by redistributing materials from higher to lower areas on the floor.
Increasing demand for float pans is propelled by rising construction endeavors, driven by the need for economical solutions. In comparison to conventional trowel blades, float pans present an array of advantages, rendering them enticing for contractors and construction firms. Notably more budget-friendly, they aid in cost reduction for projects. Their lightweight nature and ease of handling contribute to swifter installation and enhanced on-site efficiency.
The North America ride-on power trowel components market is moderately fragmented, where tier-I trowel machine manufacturers hold 15% to 20% market share. Husqvarna Group, Multiquip, Allen, Bartell Global, Fayat Group, and Atlas Copco are leading companies operating in North America.
Market participants are strategically focusing on the introduction of durable and lightweight materials as well as public and private investments in construction and infrastructure projects to attain higher market shares. Companies are also looking to lower trowel machine prices to gain an edge in this competitive space.
| Attribute | Details |
|---|---|
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Base Year for Estimation |
2022 |
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Historical Data |
2018 to 2022 |
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Forecast Period |
2023 to 2033 |
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Quantitative Units |
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Report Coverage |
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Key Market Segments Covered |
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Regions Covered |
North America |
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Key Countries Covered |
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Key Companies Profiled |
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Customization and Pricing |
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The North America ride-on power trowel components market is valued at US$ 26,462.6 thousand in 2023.
Sales of ride-on power trowel components are predicted to increase at a CAGR of 5% through 2033.
The market is expected to reach US$ 43,243.9 thousand by the end of 2033.
Float pans hold a dominant share of the market in North America.
Increasing government investments in infrastructure development and rising infrastructure maintenance projects are key market trends.
Husqvarna Group, Multiquip, Allen, Bartell Global, Fayat Group, and Atlas Copco collectively account for 20% market share.
The market in Canada has been forecasted to rise at a CAGR of 5.3% through 2033.
