Concrete Mixer Market Analysis APAC, North America, Europe, Middle East and Africa, South America - China, US, Germany, India, Japan - Size and Forecast 2024-2028

Concrete Mixer Market Size 2024-2028

The concrete mixer market size is forecast to increase by USD 4.55 billion, at a CAGR of 5.31% between 2023 and 2028.

• The market is witnessing significant growth due to the expanding construction industry, particularly In the non-residential sector. Precast concrete's increasing popularity for non-residential construction projects is fueling the demand for concrete mixers. Moreover, the secondhand market is experiencing notable growth as these cost-effective alternatives offer an attractive solution for small-scale contractors and DIY projects. These trends are expected to continue driving market growth In the coming years. However, challenges such as the high initial investment cost and the need for regular maintenance remain key concerns for market participants. Despite these challenges, the market is poised for steady growth, driven by the construction industry's continued expansion and the increasing adoption of precast concrete solutions.

What will be the Size of the Concrete Mixer Market During the Forecast Period?

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• The market experiences significant growth due to the increasing construction activities driven by rapid urbanization and a rising population. Concrete is a versatile building material used extensively in various sectors, including the construction of roads, bridges, power plants, dams, harbors, and large-scale commercial and industrial facilities. Concrete mixing plants and concrete mixer trucks play a crucial role in supplying the required concrete mixture for these projects. Global construction activities, particularly In the infrastructure sector, have seen a cumulative increase, leading to the expansion of concrete mixing capacity.
• Commercial transportation and sustainable construction goals are driving the demand for efficient fleet management, real-time tracking, and cleaner construction equipment, such as electric concrete mixers. Continuous mixing technologies, including fixed batch mixers, continuous mixers, portable batch mixers, and portable continuous mixers, offer enhanced mixing capabilities and economic stability to the market. Overall, economic stability and infrastructure investment continue to fuel the growth of the market.

How is this Concrete Mixer Industry segmented and which is the largest segment?

The concrete mixer industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

• Type
  • Mixing plants
  • Mixer trucks
• Application
  • Non-residential
  • Residential
• Geography
  • APAC
    • China
    • India
    • Japan
  • North America
    • US
  • Europe
    • Germany
  • Middle East and Africa
  • South America

By Type Insights

• The mixing plants segment is estimated to witness significant growth during the forecast period.

Concrete mixing plants are essential infrastructure for producing high-quality concrete for various construction projects. These plants blend cement, aggregates, and water to create homogeneous concrete mixtures, which are then transported to construction sites. Central mix plants mix all ingredients, including water, at a central location, while ready-mix plants combine all materials except for water at the plant, adding water during transportation. Construction activities, such as roads, bridges, power plants, dams, harbors, and large-scale projects, drive the demand for concrete.

Urbanization and population growth further increase the need for concrete in constructing urban infrastructure, including residential and commercial buildings. Concrete mixer trucks and concrete mixing plants are integral components of the global construction industry, facilitating efficient and effective construction processes. Real-time data analytics, predictive maintenance, and environmental consciousness are key trends shaping the market. Eco-friendly materials, lightweight components, and reduced emissions are essential sustainability goals. The construction growth in various sectors necessitates economic stability and infrastructure investment, driving the demand for advanced concrete mixing solutions.

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The mixing plants segment was valued at USD 8.22 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

• APAC is estimated to contribute 58% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The market in APAC is poised for significant growth due to the rise in construction activities. Countries like India, Vietnam, Indonesia, and Thailand are projected to expand at a rate of 4%-5% during the forecast period, surpassing the regional average. Infrastructure development and construction sectors in nations such as India, China, Japan, Thailand, Indonesia, and the Philippines are expected to fuel market growth. For instance, India's government plans to construct over 200,000 kilometers of national highways by 2037. Urbanization, rising population, and the demand for concrete in construction projects for roads, bridges, power plants, dams, harbors, and large-scale construction are primary factors contributing to market expansion.

In addition, the need for concrete mixer trucks, portable batch mixers, and continuous mixers in commercial transportation, fire trucks, and construction equipment for maintenance, renovation, and retrofitting of existing structures further boosts the market. The focus on economic stability and infrastructure investment, coupled with the adoption of eco-friendly materials, lightweight components, and reduced emissions, aligns with sustainability goals. Market players are investing in real-time tracking, continuous mixing, telematics, monitoring, and control mixing processes to enhance fleet management and improve operational efficiency.

Market Dynamics

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

What are the key market drivers leading to the rise In the adoption of the Concrete Mixer Industry?

Increasing expansion of the construction industry is the key driver of the market.

• The market is poised for significant expansion due to the increasing construction activities worldwide. Fueled by rapid urbanization, a rising population, and economic stability, the demand for concrete in large-scale construction projects, such as power plants, dams, harbors, and commercial transportation infrastructure, is surging. Concrete mixing plants and concrete mixer trucks are essential components of these projects, enabling the production and transportation of concrete for the construction of roads, bridges, and other infrastructure. Moreover, the construction industry's growing focus on sustainability and eco-friendly materials is driving the adoption of concrete mixers with recyclable components, reduced emissions, and environmental consciousness.
• The use of real-time data analytics, predictive maintenance, and telematics for monitoring and controlling mixing processes is also gaining popularity, ensuring efficient fleet management and continuous mixing. In addition, the need for regular maintenance, renovation, and retrofitting of existing structures is creating new opportunities for the market. Contractors and construction companies are increasingly investing in infrastructure to meet the growing demand for affordable housing, sustainable communities, and urban infrastructure. The market is expected to witness strong growth across all regions during the forecast period, with a focus on economic stability and infrastructure investment.

What are the market trends shaping the Concrete Mixer Industry?

Increasing demand for precast concrete for non-residential construction is the upcoming market trend.

• Precast concrete, a type of concrete mixed, cast, and cured off-site in reusable molds, is gaining popularity In the construction sector due to its cost-effectiveness and practicality. The production process, carried out in controlled manufacturing settings, results in precast concrete elements that can be linked to create entire structures, reducing construction time, labor requirements, and costs. The trend toward modern, eco-friendly, and cost-effective building designs, particularly in non-residential construction, fuels the demand for precast concrete. Rapid urbanization and rising population growth lead to an increased need for urban infrastructure development, including concrete roads, power plants, dams, harbors, and other large-scale construction projects.
• Concrete mixing plants, concrete mixer trucks, and other construction equipment are essential for these projects, necessitating efficient fleet management and real-time tracking. Additionally, the focus on sustainability goals, such as the use of eco-friendly materials, lightweight components, recyclable components, and reduced emissions, further drives the market's growth. Predictive maintenance, continuous mixing, and real-time data analytics are crucial for maintaining the performance and longevity of concrete mixing equipment and ensuring economic stability and infrastructure investment.

What challenges does the Concrete Mixer Industry face during its growth?

The growing adoption of secondhand concrete mixers is a key challenge affecting the industry growth.

• The market is significantly impacted by the ongoing trend of rapid urbanization and rising population growth, leading to an increased demand for construction activities in various sectors. Construction projects encompassing roads, bridges, commercial transportation infrastructure, power plants, dams, harbors, and large-scale construction projects require substantial amounts of concrete. Concrete mixing plants and concrete mixer trucks play a crucial role in supplying the necessary concrete mix for these projects. However, the market faces challenges, including losses due to the increasing availability of secondhand concrete mixers from Europe and the US. Several manufacturing industries in Europe and the US, such as coal and steel, have faced closure due to high labor costs and stringent pollution regulations.
• As a result, these countries' secondhand concrete mixers are being exported to emerging economies, particularly in Asia, for use in construction activities. Contractors In these regions, including Glencore PLC and BHP Group Limited, are keen to acquire secondhand European concrete mixers at lower prices. This trend is expected to continue, impacting the demand for new concrete mixers In the market. Furthermore, the growing emphasis on sustainability goals, eco-friendly materials, and lightweight components in the construction industry is driving the adoption of electric concrete mixers and cleaner construction equipment. Additionally, real-time data analytics, predictive maintenance, and telematics are being used to monitor and control mixing processes, ensuring efficient fleet management and continuous mixing capabilities.

Exclusive Customer Landscape

The concrete mixer market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the concrete mixer market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, concrete mixer market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence In the industry.

The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• Akona Engineering Pvt. Ltd.
• Altrad Group
• Caterpillar Inc.
• Crown Construction Equipment
• Gaode Equipment Co. Ltd.
• Guangxi Liugong Machinery Co. Ltd.
• Henan DASION Machinery Co. Ltd.
• ITOCHU Corp.
• Jurong Topall Machinery Co. Ltd.
• Kushlan Products LLC
• Liebherr International AG
• Lino Sella Srl
• Right Manufacturing Systems Inc.
• Sany Group
• Shandong Heavy Industry Group Co. Ltd.
• Speedcarfts Ltd.
• Terex Corp.
• The Toro Co.
• Zhengzhou Great Wall Machinery Manufacture Co. Ltd.
• Zoomlion Heavy Industry Science and Technology Co. Ltd.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Research Analyst Overview

The market is experiencing significant growth due to the increasing demand for concrete in various sectors. The expansion of urban infrastructure, including roads, bridges, power plants, dams, harbors, and large-scale construction projects, is driving the market's growth. The rising population and subsequent residential and commercial construction activities are also contributing to the market's expansion. Construction growth in various sectors necessitates the use of concrete as a primary building material. Concrete mixers are essential equipment In the construction industry, and their demand is on the rise. Concrete mixers are used in various applications, such as constructing concrete roads, commercial transportation infrastructure, and fire trucks.

Further, the global construction sector's cumulative growth is leading to an increase In the number of concrete mixing plants and concrete mixer trucks. The market's dynamics are influenced by several factors, including the demand for concrete, maintenance and renovation of existing structures, and the adoption of advanced technologies. The construction industry's focus on sustainability is driving the adoption of eco-friendly materials and lightweight components in concrete mixers. These components help reduce emissions and contribute to sustainability goals. Electric concrete mixers are gaining popularity due to their cleaner construction equipment capabilities. Advanced technologies, such as telematics, monitoring, and control mixing processes, are being integrated into concrete mixers to improve efficiency and productivity.

Real-time data analytics and predictive maintenance are also being used to optimize fleet management and reduce downtime. Environmental consciousness is a critical factor influencing the market's growth. Manufacturers are focusing on reducing emissions and developing recyclable components to meet sustainability goals. Continuous mixing technologies, such as fixed batch mixers and continuous mixers, are gaining popularity due to their energy efficiency and cost savings. Portable batch mixers and portable continuous mixers are also gaining traction In the market due to their flexibility and ease of use. Economic stability and infrastructure investment are essential factors influencing the market's growth, particularly in developing countries.

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What are the Key Data Covered in this Concrete Mixer Market Research and Growth Report?

• CAGR of the Concrete Mixer industry during the forecast period
• Detailed information on factors that will drive the market growth and forecasting between 2024 and 2028
• Precise estimation of the size of the market and its contribution of the industry in focus to the parent market
• Accurate predictions about upcoming growth and trends and changes in consumer behaviour
• Growth of the market across APAC, North America, Europe, Middle East and Africa, and South America
• Thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the concrete mixer market growth of industry companies

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