Rise in government expenditures for infrastructural development, high yield and decrease in raw material wastage, and easy transportation of the mixture have boosted the growth of the global mobile concrete mixer market. The market across Asia-Pacific held the lion’s share in 2020, accounting for nearly two-fifths of the market. However, the world is slowly recovering from the pandemic and all industries would resume their regular manufacturing and services.
Portland,OR, July 28, 2021 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global mobile concrete mixer market was pegged at $6.75 billion in 2020, and is expected to reach $11.81 billion by 2030, growing at a CAGR of 5.6% from 2021 to 2030.
Rise in government expenditures for infrastructural development, high yield and decrease in raw material wastage, and easy transportation of the mixture have boosted the growth of the global mobile concrete mixer market. However, high investment and regular maintenance hinder the market growth. On the contrary, demand for energy-efficient and eco-friendly mixers is expected to open lucrative opportunities for the market players in the future.
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Due to Covid-19 outbreak, the construction activities were restricted to a huge extent. The lack of workforce and disrupted supply chain hampered the market.
The manufacturing and oil & gas industries were among the worst-hit industries during the pandemic, which hampered the demand for mobile concrete mixers.
However, the world is slowly recovering from the pandemic and all industries would resume their regular manufacturing and services.
The report segments the global mobile concrete mixer market on the basis of capacity, product type, vehicle type, and region.
Based on product type, the standard segment held the largest share in 2020, accounting for more than 98% of the market. However, the volumetric segment is expected to register the highest CAGR of 6.9% from 2021 to 2030.
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On the basis of vehicle type, the truck segment held the lion’s share in 2020, contributing to more than 90% of the market. However, the trailer segment is expected to manifest the highest CAGR pf 6.4% during the forecast period.
The global mobile concrete mixer market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific held the lion’s share in 2020, accounting for nearly two-fifths of the market. However, the market across LAMEA is projected to portray the highest CAGR of 6.6% during the forecast period.
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The global mobile concrete mixer market includes an in-depth analysis of the prime market players such as KYB Corporation, AB Volvo, Navister Inc., Liebherr-International AG, Sany Group, Oshkosh Corporation, Sinotruk, Schwing Stetter Group, Tata Motors and Zoomlion Heavy Industry Science and Technology Co., Ltd.
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