Industry: Industrial Automation
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Report Type: Ongoing
Report ID: PMRREP16156
The market is estimated to reach a valuation of US$257.5 Mn by the year 2033, at a estimated CAGR of 4.8% during the forecast period 2024 to 2031.
Key Highlights of the Market
|
Attributes |
Key Insights |
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Market Size (2024) |
US$154.2 Mn |
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Market Size (2031) |
US$257.5 Mn |
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Forecast Growth Rate (2024 to 2031) |
4.8% |
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Historical Growth Rate (2019 to 2023) |
4.2% |
The ride on trowel market's expansion is attributed to the rising demand for ride-on trowel due to its use in commercial buildings, industrial buildings, and other applications globally.
The ride-on trowels market is being significantly driven by rapid industrialization in nations such as India, Indonesia, and GCC countries, as well as the expanding infrastructural development in developing economies.
However, the task of developing ride-on trowels that are both cost-effective and fuel-efficient lever controls is quite challenging. Nevertheless, this issue is expected to be resolved in the years to come by leading industry participants.
Ride on power trowel is mainly used for trowelling concrete surface through finishing and floating operations, and is used in warehouses, housing, industrial buildings, airports and garages since heavy loads in these areas.
Speeding construction activities across the globe is a key trend aiding the global ride on power trowel market share. The global construction industry has seen a rapid growth in last decade along with the economy growth while sustaining new challenges arising in the market.
Expenditure on the infrastructure and building sector globally has experienced a substantial rise in recent years. The ongoing economic expansion in some of the major regions, along with a surge in commercial real estate, has led to the emergence of fresh employment opportunities in the construction industry on a global note.
Nevertheless, the persistent lack of skilled labour will remain a significant problem, leading to extended project timelines and substantial increases in wages in the future years.
These elements will significantly influence the global market. The said industry will be primarily driven by residential building, particularly new house construction, rather than renovation, in the future years.
The global ride on power trowel market saw an impeccable growth during the historical period from 2019 to 2023, where the market saw a staggering growth rate of 4.2%.
The market has experienced substantial growth in recent years, which is primarily fuelled by the rapid growth in the global construction industry and the extensive research and development activities for new and enhanced tools and equipment’s in the construction industry.
One immediate benefit provided by a power trowel floater is the exceptional smoothness it imparts to the surface it travels on. Upon initial pouring, concrete exhibits undulations, crests, and assorted irregularities.
The surface can be levelled to a certain extent via the use of certain manual methods; however, the attainment of uniformity through the use of power trowelling is a level higher.
Spinning blades ensure that high points are pushed down and valleys are appropriately filled, resulting in a surface that is usable in areas such as basketball courts and warehouses. Spinning blades are used in the construction of these surfaces.
Furthermore, throughout the forecast period, the said market is expected to capitalize on the rapid adoption and growing acceptance of new technologies, particularly in emerging economies, and aiding the growth of the global market.
Demand for Smooth Concrete Slabs
An immediate advantage of the Ride on Power Trowel Market is the ultra-smoothness it imparts to the surface it travels on. The initial pour of concrete is characterized by a variety of inconsistencies, including valleys, and ridges.
Power trowelling achieves a higher level of uniformity than certain manual methods, which can only level the surface to a certain extent.
The spinning blades ensure that high points are pushed down and valleys are correctly filled, resulting in a surface that is functional for surfaces such as warehouses and basketball courts.
If executed accurately, power trowelling can contribute to the reduction of the water-cement ratio at the surface. A denser and more durable concrete surface is inversely proportional to the water-cement ratio.
This increases the concrete's durability, thereby reducing its susceptibility to environmental factors like freeze-thaw cycles that could result in surface flaking and scaling.
Moreover, the formation of the less porous surface layer results in the displacement of larger aggregates in the concrete mix to the bottom, resulting in the formation of a substance of rich cement on the surface. The surface is more resistant to water penetration due to this minimal permeability.
Improvements in Aesthetics Quotient
The reflectivity of interior spaces, such as warehouses or garages, has been enhanced by a smooth, power-trowelled concrete surface. In other words, the reflection of light is directly proportional to the uniformity of the surfaces.
This could, in turn, decrease the necessity for additional artificial illumination and, as a result, the energy costs.
The polished appearance of a residential patio or commercial space can be enhanced by power trowelling, in addition to its functional advantages. It also allows for additional treatments, such as coatings, sealants, or stains.
Power trowelling is not solely concerned with the establishment of a flawless surface; it also involves the full utilization of concrete's durability, strength, and aesthetic appeal.
The longevity of concrete surfaces is guaranteed by the reduction of permeability and the enhancement of abrasion resistance.
Impact of COVID-19, and Supply Chain Disruptions
The ride-on power trowel market has been considerably affected by the post-COVID-19 pandemic and the Russia-Ukraine unrest. Raw material, and component shortages have been the consequence of the ongoing conflict, which has disrupted supply chains.
Consequently, the prices of ride-on power trowels have risen, and production costs have increased. Furthermore, the demand for trowels has been further impacted by the economic instability that has resulted from the conflict, which has lowered consumer confidence and investment in construction projects.
Conversely, the post-COVID-19 pandemic has expedited the adoption of ride-on power trowels in construction projects as companies seek to enhance productivity and efficiency.
The demand for ride-on power trowels is anticipated to be driven by the increased emphasis on infrastructure development and construction activities in the wake of the pandemic.
In general, the Ride on Power Trowel Market is anticipated to experience moderate growth in the years ahead, despite the obstacles imposed by the Russia-Ukraine conflict, and the pandemic.
The primary beneficiaries of this market are likely to be companies that provide cost-effective and innovative products.
Rocketing Construction Activity
The construction sector will continue to expand as the global economy continues to grow, with few challenges originating from the developing economies that are attempting to establish a presence in the market.
In recent years, the construction industry has experienced a substantial increase in spending in the major emerging economies; however, the end-use industry continues to struggle to satisfy the demand.
New employment opportunities in the construction sector have been created due to the commercial real estate boom and the region's ongoing economic growth.
In the years ahead, the scarcity of competent workers will persist as a significant concern, leading to extended project durations and accelerated wage growth, and will be significantly influenced by these variables.
According to Euro construct, the ride on power trowel market will be driven by residential construction, particularly new house construction, rather than renovation in the future years.
The demand is expected to increase in the upcoming years due to the increasing interest of the European Union in the construction industry.
Mechanical Trowels Account for 60% Market Share
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Market Segment by Type |
Market Value Share |
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Mechanical |
60% |
Based on type, the ride on power trowel market is further segmented into mechanical and hydrostatic, where the mechanical segment dominates the global market share.
The growing demand for mechanical ride-on trowels can be attributed mostly to their exceptional manoeuvrability, enhanced operator comfort, and minimal maintenance requirements.
The rising usage of stricter enforcement laws in both industrialized and developing nations is a significant factor driving their adoption during the forecast period.
Mechanical-drive ride-on trowels are equipped with a range of advanced features and advantages that surpass industry norms. These include robust gearboxes, Twin pitch controls, steering aid, and constant-velocity joints.
Investing in mechanical riders is a wise choice primarily because they have a very affordable initial price. Hydrostatic ride-on power trowels have a higher cost compared to mechanical trowels, but they fulfil the same function.
Hydrostatic rides incur higher repair costs due to the inclusion of extra components and advanced engineering in its technology.
Construction Industry’s Market Share Extends up to 55%
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Market Segment by Type |
Market Value Share |
|
Construction |
55% |
Based on application, the market is further divided into construction and industrial, where the construction segment dominates the global market share in the said segmentation.
The primary catalyst behind the rising demand for ride-on power trowels is the growing need for mechanical concrete finishing over large and vast areas.
The demand for more efficient and durable ride-on power trowels has risen due to heightened consumer expectations regarding the smoothness and flatness of concrete surfaces in industrial, commercial, and residential buildings.
With the increasing focus of developing nations on infrastructure development, the construction industry is experiencing rapid growth.
Furthermore, in these countries, workers are increasingly demanding additional construction machinery, resulting in a significant increase in the need for high-performance construction equipment like ride-on power trowels.
Construction activities in airports and large warehouses require the use of advanced trowelling techniques to smooth high-quality concrete floors and improve the efficiency and precision of mechanical components, such as ride-on power trowels.
These techniques are specifically designed to handle heavy loads and ensure optimal results.
North America accounted for the highest proportion of revenue in the global market and is expected to continue its dominance during the projected period at an estimated CAGR of 5%.
The European market closely monitors this regional market and is expected to have significant growth in the coming years. India is expected to be the driving force behind the moderate growth in the Asia Pacific region.
Although there has been a significant decrease in construction projects in China and Japan, the rapid rise of infrastructure development in India is anticipated to greatly enhance the regional sector.
Asia Pacific is projected to experience substantial growth throughout the projection period. India, and Germany are expected to make significant contributions to the growth of the ride on power trowel market.
The rise of the market in the Asia Pacific region is primarily driven by the existence of a substantial population and car businesses that cater to the demands of this population.
China is excelling in the market, and this industry presents the potential for market growth. North America presently holds the largest market share in the global ride-on power trowel manufacturing business in terms of volume.
Japan is a major market for ride on power trowels because it has automobile enterprises that cater to the consumer needs of the general population.
On the other hand, Latin America is expected to excel in the market because to the significant prospects it offers for market growth.
April 2024 –
Atlas Copco announced that it is introducing its new Variable Speed Drive (VSD) technology to its screw compressor range.
January 2024 –
Allen Engineering signed a strategic partnership deal with Messersi SPA to expand its business operations.
The major competitors in the ride on power trowel market are primarily evaluated based on their product or service offerings, their financial statements, developments and the approaches implemented, the company's position in the global market scenario and its geographical reach.
Apart from this, the key competitors studied have also been accessed through the SWOT analysis to understand their strengths, weaknesses, opportunities and threats.
The key competitors in the industry employ crucial strategies like partnership deals, mergers and acquisitions, and business expansion deals to strengthen their hold on a particular region or a particular service offering.
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Attributes |
Details |
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Forecast Period |
2024 - 2034 |
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Historical Data Available for |
2019 - 2023 |
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Market Analysis |
US$ Billion for Value |
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Key Countries Covered |
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Key Companies Profiled |
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Pricing |
Available upon request |
By Type
By Application
By Region
To know more about delivery timeline for this report Contact Sales
The market for ride on power trowels is projected to see an estimated CAGR of 4.8% during 2024-2031.
Mechanical trowels maintain a dominant position in the market.
North America holds the major market share globally.
As of 2023, the market was worth around US$257.5 million.
The growing construction activity worldwide is the major market driving factor.
