A booming MENA construction sector attributed to the increasing demand for large-scale housing projects, along with the need for improvements in quality of all construction projects is expected to drive the MENA truck-mounted concrete pump market in the next few years. Additionally, the manufacturers of truck-mounted concrete pumps in this region are improving their efforts to provide better quality pumps by implementing enhancements such as an increase in the arm length and capacity of the pumps. Manufacturers intend to grow their possession of technologies towards irrigation projects as well by including features such as the provision of adjustable molds, water stop attachments, and needle vibrators. However, the MENA truck-mounted concrete pump market is currently being restricted by safety issues related to the operation of the pumps, as well as the volatility of oil prices that are affecting the transportation sector in general.
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The MENA truck-mounted concrete pump market is expected to reach US$161.0 mn at the end of 2016. It is projected to reach US$253.4 mn by the end of 2024 after expanding at a CAGR of 5.8% within a forecast period from 2016 to 2024.
Residential Sector Racks Up High Points in Concrete Demand
Based on type, the MENA truck-mounted concrete pump market can be divided into truck-mounted mobile pumps, truck-mounted static pumps, and truck mixer concrete pumps. By revenue, the MENA truck-mounted concrete pump market is expected to be dominated by truck-mounted mobile pumps over the coming years. This segment had already taken up more than 51% of the MENA truck-mounted concrete pump market in 2015, while the truck mounted static pump segment came second for the same year.
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End user in the MENA truck-mounted concrete pump market include industrial, residential and commercial sectors. Of these, the residential segment is primarily projected to lead the MENA truck-mounted concrete pump market in terms of revenue. The residential segment held over 48% of the MENA truck-mounted concrete pump market in 2015. The commercial segment was the second in terms of revenue generation for 2015.
FIFA World Cup Key in Putting Qatar at the Top in terms of Demand for Truck-mounted Concrete Pumps
UAE and Qatar are expected to lead the MENA truck-mounted concrete pump market in terms of revenue generation over the above forecast period. Both regions hold a high level of construction activities which is additionally expected continue expanding over the coming years. There is a massive demand for skyscrapers, luxury hotels, and office buildings in the Middle East & North Africa – and especially in Qatar and UAE – and is projected to drive overall MENA truck-mounted concrete pump market. The construction sector in Qatar is expanding at a very fast pace, thanks to its implementations of comprehensive and ambitious infrastructure and economic development programs. Qatar is already involved in heavy construction activities due to hosting the upcoming FIFA World Cup and the construction of the related football stadiums, slated to be accomplished before 2022, and the MENA truck-mounted concrete pump market is expected to benefit significantly from this. The Qatar truck-mounted concrete pump market is expected to expand at a very positive CAGR of 7.5% from 2016 to 2024.
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The leading players in the MENA truck-mounted concrete pump market till and for 2015, include Putzmeister, Schwing, The Liebherr Group, Sany Group, Concord Concrete Pump, XCMG Co., Ltd, and KCP Heavy Industries. Of these, Putzmeister, The Leibherr Group, and Schwing are expected to be top players for the time being, within the MENA truck-mounted concrete pump market. All key players are expected to be focusing on improving their manufacturing capacities and installing new business units in the emerging markets of the region to improve their overall client pool reach.
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