A concrete mixer homogeneously combines cement and other aggregates such as gravel, sand, and water to form concrete. It uses a revolving drum for mixing the components. The universal concrete use in engineering construction has resulted in placing variety of devices and machines for mixing the materials. These mixers need to employ distinct methods for measuring and mixing the concrete in the desired shape. Throughout the year, there are continuous maintenance and construction jobs in both urban and rural regions. Changing trends in the construction industry has resulted in refinement of the mixing technologies for concrete production as today’s industry increasingly requires shorter mixing times and consistent homogeneity for industrial production of the ready mix concrete (RMC) and pre-cast concrete.
In 2016, total construction spending increased 6.5% as compared to 2015, according to U.S. Census Bureau data. The construction spending for 2018 is expected to increase about 4.8% which is forecasted to be around US$ 773.1 billion. Commercial construction which includes offices, transportation terminals, and parking garages is anticipated to witness 12.4% growth throughout till 2021. Retail construction is expected to drop 2.8% in 2018 as compared to 16.5% decline in 2017. The AIA (American Institute of Architects) Consensus Construction Forecast Panel for the non-residential buildings construction is expected to grow by 3.8% on 2018.
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The construction and engineering industry is slower to adopt new technologies and has never gone through a major transformation. Therefore, productivity has been stagnant since the last 40 years and even declined in some cases. These parameters are set to change very soon as profound modifications are being witnessed in the industry. Digitalization has added more construction project opportunities in incorporating systems of intelligent machines, digital sensors, mobile devices, and new software applications which are integrated with platforms of Building Information Modelling (BIM).
Construction equipment purchases involve huge initial investment; as a result, medium and small enterprises are hesitant to buy new equipment. Renting the construction equipment helps these companies to utilize newer technologies without investing much on the equipment ownership, thus compelling manufacturers to follow leasing and rental techniques for promoting their concrete mixing equipment.
The concrete mixer market can be segmented by product into drum rotating mixer, diesel mixer, twin shaft mixer, non-tilting mixer, and tilting mixer. By end-use, the concrete mixer market is segmented into industrial, commercial, and residential uses. The industry can be further classified by region into Europe, North America, Middle East & Africa, Asia Pacific, and South America.
The Asia Pacific region is expected to have the highest CAGR from 2018 to 2026 as the construction rate is growing at a rapid rate in emerging economies such as India, China, Malaysia, Indonesia, and Vietnam. The increased focus on transportation network developments to encourage cycling and public transport use in Europe and North America is expected to drive the demand for concrete mixers over the forecast timeline.
Economic events continue to impact the construction industry, resulting in several closures, consolidations, and acquisition activities. However, this industry has stabilized owing to economic growth and surging trends in infrastructure and housing sectors. Rising government spending on infrastructure development is responsible for the indirect growth of the concrete mixer market. The industry is highly competitive and vendors are constantly trying to develop and innovate new varieties of concrete mixers to cater to changing customer needs.
Industry participants in the concrete mixer market are Liebherr-International AG, Caterpillar, Sany Group, Sinotruk Hong Kong Ltd., Shantui Construction Machinery Co. Ltd., Zoomlion Heavy Industry Science & Technology Co., Ltd., and Terex Corporation.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
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The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?