Industry: Automotive
Published Date: September-2024
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 174
Report ID: PMRREP33270
The truck mounted concrete mixers market is estimated to reach a valuation of US$12.3 Bn by 2031 from the value US$8.6 recorded in 2024. The market is estimated to capture a CAGR of 5.3% during the forecast period from 2024 to 2031.
Key Highlights of the Market
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Attributes |
Key Insights |
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Market Size (2024E) |
US$8.6 Bn |
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Projected Market Value (2031F) |
US$12.3 Bn |
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Global Market Growth Rate (CAGR 2024 to 2031) |
5.3% |
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Historical Market Growth Rate (CAGR 2019 to 2023) |
4.6% |
According to Persistence Market Research, the United States holds 88% share in North American truck mounted concrete mixers market. Despite a decline in residential building, impacting mobile concrete mixer demand, the country is expected to experience a surge in demand due to increasing non-residential construction activities. The rising capital expenditure on industrial plants, non-residential infrastructure projects, and commercial spaces is anticipated to drive strong demand for truck-mounted concrete mixers in the United States.
East Asia is poised to generate significant demand for truck mounted concrete mixers in the coming years. With projects in power and utility, housing, petrochemicals, telecom, and industrial construction, countries like China, Japan, and South Korea are leading the way.
China, in particular, accounted for an 81.4% market share in East Asia in 2022, fueled by international investments in non-residential infrastructure projects. The growing need for residential spaces, driven by the rise in nuclear family households is further propelling construction activities and creating substantial demand for truck mounted concrete mixers market in the region. East Asia market is projected to expand at a CAGR of 4.8% from 2024 to 2031.
Based on vehicle type, the market is categorized into trucks, trailers, and skid-mounted mixers. In the industry, trucks hold the largest share among other vehicle types. Trucks are the prevalent mounting vehicle type, offering mobility and versatility for transporting concrete to different construction sites.
Trailers provide flexibility for temporary batching plants or remote locations with limited truck access. Skid-mounted mixers, on the other hand, are compact and portable, ideal for smaller-scale projects or where space is limited. These segments are expected to boost the truck mounted concrete mixers market value.
Based on type, the market is classified into standard transit mixers, volumetric mixers, and front discharge mixers. Each offering distinct features to meet specific application requirements. Among them, standard transit mixers held significant market shares in 2023.
These mixers are commonly used and feature a rotating drum for concrete mixing during transportation. Volumetric mixers allow on-site mixing with adjustable proportions. Front discharge mixers provide enhanced visibility and maneuverability making them ideal for urban areas and tight construction sites.
The truck mounted concrete mixers market refers to the segment of the construction equipment industry that deals with concrete mixers mounted on trucks. These mixers are used for transporting and mixing concrete at construction sites, providing a convenient and efficient solution for concrete production.
The market growth is attributed to investments in construction activities driven by the demand for residential and commercial spaces, contribute to the expansion of the market for mobile concrete mixers. The market is anticipated to expand due to the rising number of nuclear family households and the demand for residential spaces in China and East Asia.
Technological advancements allow for precise control of the amount of concrete needed and provide the ability to add additional media to the batch. Further, governments and industry players are increasingly focusing on sustainable construction practices. All these efforts and trends create market opportunities to drive industry growth.
The truck mounted concrete mixers market has witnessed significant growth in recent years and is expected to continue its upward trajectory in the coming years. According to the industry assessment, the truck-mounted concrete mixers market shares were valued at US$6.8 Bn in 2019 and is projected to reach US$8.6 Bn in 2024.
From 2019 to 2023, the market exhibited a CAGR of 4.6%. This growth can be attributed to factors such as the increasing demand for residential and commercial spaces, investments in infrastructure development, and technological advancements in truck-mounted concrete mixers.
The market is projected to capture a CAGR of 5.3% during the forecast period from 2024 to 2031.Many industry players are actively engaging in mergers and acquisitions to broaden their product portfolios, acquire new technologies, and penetrate emerging markets. Technological advancements in the concrete industry are simplifying the achievement of high-performance concrete and tighter controls.
Adapting to evolving regulations and embracing innovative solutions will be crucial for companies to remain competitive and thrive in the industry. All these truck mounted concrete mixers market trends are positively influencing the industry growth.
Increasing Construction Activities
The construction industry is a key driver for the truck mounted concrete mixers market. The demand for residential and commercial spaces, infrastructure development, and renovation projects contribute to market growth. Truck-mounted mixers for concreters provide efficient and portable concrete mixing solutions, ensuring the delivery of fresh and high-quality concrete to construction sites.
Truck-mounted concrete mixers offer the advantage of mixing and delivering concrete in one mobile unit, which improves efficiency and convenience. This is particularly important in construction projects where timely delivery and precise mixing of concrete are essential to meet project deadlines and quality standards.
Rising Demand for Efficient Concrete Mixing Solutions
The demand for efficient and convenient concrete mixing solutions has led to the popularity of truck mounted mixers. These vehicles facilitate on-site mixing, eliminating the need for separate concrete mixing plants and reducing transportation costs. Delivering fresh concrete directly to construction sites enhances productivity and saves time, boosting the truck mounted concrete mixers market sales.
Technological Advancements
Technological advancements in the truck mounted concrete mixers industry are driving growth. Manufacturers are focusing on improving the efficiency and performance of their products through innovations such as using volumetric trucks. These trucks allow for precise control of the amount of concrete needed and the ability to add additional media to the batch, resulting in more accurate and customizable concrete mixing.
Impact of Economic Downturns
The truck mounted concrete mixers market is influenced by economic downturns, which can have a negative impact on construction activities. During periods of economic uncertainty or recession, construction projects may be delayed or canceled leading to a decrease in demand for truck-mounted concrete mixers. The market growth is closely tied to the overall health of the construction industry making it susceptible to fluctuations in economic conditions.
Regulations and Compliance
Laws and regulations related to road infrastructure repair and maintenance can impede the market sales. Compliance with these regulations may require additional investments in equipment, training, and adherence to safety standards.
The need to meet regulatory requirements can increase costs for manufacturers and operators, potentially affecting market growth. However, these regulations are essential for ensuring the safety and quality of road infrastructure.
Infrastructure Development Projects
The increasing focus on infrastructure development globally presents a significant opportunity for the truck-mounted mixers for concrete. Governments and private entities are investing in the construction and expansion of roads, bridges, ports, and other infrastructure projects. This creates a strong demand for truck-mounted concrete mixers to efficiently deliver and mix concrete at these construction sites offering a lucrative opportunity for truck mounted concrete mixers market expansion.
Emerging Markets in Leading Regions
Emerging markets, particularly in Asia-Pacific, Latin America, and the Middle East offer untapped potential for the truck mounted concrete mixers industry. These regions are witnessing rapid urbanization, population growth, and increased investments in construction and infrastructure. As these markets continue to develop, the demand for efficient and portable concrete mixing solutions is expected to rise, providing a significant growth opportunity for manufacturers and suppliers in the market.
The market is witnessing rapid growth, driven by industry participants introducing new products and incorporating innovative technologies. Companies are implementing essential business strategies to expand their product offerings, capture large market share, invest in research and development, expand globally, and optimize supply chains.
The market report highlights the dynamic nature of the industry showcasing its potential for growth and fresh opportunities. The market is driven by the growing construction industry, increasing investments in infrastructure development projects, and the integration of advanced technologies such as sensors into trucks.
Recent Developments in the Truck Mounted Concrete Mixer Market
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Attributes |
Details |
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Forecast Period |
2024 to 2031 |
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Historical Data Available for |
2019 to 2023 |
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Market Analysis |
US$ Billion for Value |
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Key Country Covered |
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Key Market Segments Covered |
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Key Companies Profiled |
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Report Coverage |
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Customization & Pricing |
Available upon request |
By Product Type
By Vehicle Type
By Region
To know more about delivery timeline for this report Contact Sales
The market is predicted to rise from US$ 6.8 Bn in 2024 to US$12.3 Bn by 2031.
Growing demand for efficient concrete mixing solutions is a key driver for market growth.
AB Volvo, KYB Corporation, Liebherr, Sany, Schwing, Zoomlion, and Navistar are some of the leading industry players in the market.
Based on vehicle type, trucks hold the largest share among other vehicle types in the industry.
Continuous growth of the construction industry and increasing focus on infrastructure development are the major factors creating opportunities in the market.
