As per Future Market Insights (FMI), Australia concrete pump market size is projected to top a valuation of USD 372.3 million by 2033. It is projected to witness astonishing growth at a CAGR of 6.0% from 2023 to 2033. A valuation of USD 208.4 million is likely to be recorded by the market in 2023.
Australia concrete pump industry is set to be pushed by rising demand from the construction industry. Concrete pumps offer high accuracy and quality in terms of concrete pouring, which is expected to augment their demand.
Concrete pumps are considered to be essential equipment in the construction sector across Australia. Their ability to efficiently transfer liquid concrete from a mixing truck to the concrete site is likely to make them immensely popular. High demand for residential and commercial buildings in the country is projected to accelerate concrete pump demand in the forecast period.
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The government of Australia is estimated to invest in several infrastructure projects such as roads, bridges, and public transportation. Such projects require concrete pumps and the factor is set to lead to increased demand across different regions in Australia.
Growing usage of building information modeling (BIM) to create digital models of construction projects is another crucial factor that would drive sales. Concrete pumps are expected to be integrated with BIM models in Australia in the next ten years.
These would also allow for accurate planning and execution of concrete placement. These pumps are also expected to aid in reducing waste and improving concrete efficiency.
Key manufacturers are developing automated concrete pumping systems that are self-level, self-compacting, and self-smoothing. These systems are likely to help in correcting concrete consistency without any interventions.
Key Takeaways from Australia Concrete Pump Market Study:
- By type, mobile concrete pumps are estimated to create an incremental opportunity of US$ 123.0 million during the forecast period.
- In terms of end use, the residential segment is anticipated to exhibit a CAGR of 8% from 2023 to 2033.
- Queensland region is projected to hold a market share of about 8% by the end of 2023.
- New South Wales is expected to generate an Australia concrete pump industry share of around 0% in 2033.
- Tasmania concrete pump market is anticipated to hold a share of 9% in 2023.
Competitive Landscape
Australia concrete pump market is fairly consolidated owing to the presence of prominent players across various regions. Unorganized players are estimated to account for around 25% to 30% of market shares. Prominent players are focusing on the development of new products and are collaborating with dealers to meet changing requirements of consumers.
For instance,
- In November 2022, A China-based manufacturer called SANY Group increased emphasis on the creation of new products and invested in research initiatives to boost its position. It specializes in the research, manufacturing, and global distribution of machinery and equipment for the construction industry.
- In February 2022, Zoomlion Heavy Industry Science & Technology Co., Ltd. announced that it creates and produces high-tech equipment. The company has primary consumers in the technical and agricultural sectors. It is actively pursuing strategic transformation in an effort to become a producer of high-end machinery. By fusing financial services, agricultural equipment, and technical equipment, it aims to expand its presence.
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