Market Size of Concrete Mixer Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 3.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Concrete Mixer Market Analysis
- The Concrete Mixer market was valued at USD 14.1 billion in 2021. It is expected to reach USD 16.4 billion by 2027, registering a CAGR of around 3% during the forecast period.
- The COVID-19 outbreak and propagation had a detrimental impact on the construction industry in 2020, resulting in lower demand for concrete mixers. As a result, the revenues earned by them decreased. Hence, the market's growth trajectory slowed during the first half of 2020. This pattern was maintained until the first quarter of 2021. However, the rise in construction activities was observed globally after the pandemic due to the easing of restrictions in the country. The market will cope with all the losses during the period and grow at a certain pace.
- Over the long term, rapid urbanization, rising population, strong economic growth, and growth in construction activity in both developed and developing countries are expected to fuel the demand for concrete mixers during the forecast period. Global Construction Perspectives Limited and Oxford Economics Limited have estimated that the worldwide construction industry may account for 14.7% of the global GDP by 2030.
- Applications such as the construction of concrete roads, power plants, canals, airports, dams, harbors, and other large-scale construction sites, are increasing the demand for large quantities of concrete. Concrete mixing plants that can yield up to 330 m³ of hardened concrete per hour and concrete mixer trucks, which can transport up to 10 m³ of concrete at a time, are the perfect solutions to mix large volumes of concrete on-site.
- According to Global Construction, the cumulative construction volume may reach USD 212 trillion by 2030, with more than one-third of the contribution, i.e., USD 77.8 trillion, coming from emerging Asian economies.
- For instance, in April 2022, Tiger Car Supply Trading collaborated with Daewoo, a Korean truck manufacturer, to create the brand's first assembly factory in the Philippines. The almost one-hectare assembly factory has a monthly capacity of 50 to 80 units. Commercial transportation, construction, and industrial vehicles such as concrete mixers, fire trucks, and government vehicles are examples of assembled trucks.
- In addition, China, the United States, India, Indonesia, the United Kingdom, Mexico, Canada, and Nigeria may account for 70% of the overall growth in construction by 2030. The study also stated that the United Kingdom and Nigeria are likely to be the two major countries contributing toward the growing construction activities, as the UK government is coming up with several global megaprojects. Furthermore, Nigeria is set to witness significant population growth by 2030, exceeding that of the United States to become the fifth most populous country in the world.
Concrete Mixer Industry Segmentation
A concrete mixer is a device that mixes cement, aggregate (such as sand or gravel), and water to create concrete. To mix the components, a standard concrete mixer employs a spinning drum. Portable concrete mixers are frequently used for lower volume jobs so that the concrete may be prepared on the building site, providing the workers plenty of time to utilize the concrete before it hardens.
The concrete mixer market is segmented by type (mixer trucks and mixing plants), application (residential and commercial), and geography (North America, Europe, Asia-Pacific, and the Rest of the World).
The report offers the market size in value (USD Billion), and forecasts for all the above segments.
| By Type | |
| Mixer Trucks | |
| Mixing Plants |
| By Application Type | |
| Residential | |
| Commercial |
| By Geography | |||||||
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Concrete Mixer Market Size Summary
The concrete mixer market is poised for steady growth, driven by factors such as rapid urbanization, increasing population, and robust economic development in both developed and developing regions. The market experienced a slowdown due to the COVID-19 pandemic, which adversely affected the construction industry and reduced demand for concrete mixers. However, as construction activities resumed globally with the easing of restrictions, the market began to recover. The demand for concrete mixers is expected to be bolstered by the need for large-scale construction projects, including roads, power plants, and airports, which require substantial quantities of concrete. The market is characterized by the presence of large concrete mixing plants and mixer trucks capable of handling significant volumes of concrete on-site, catering to the growing needs of the construction sector.
China, India, and Indonesia are key players driving the growth of the concrete mixer market, with China anticipated to emerge as the largest market. The country's extensive infrastructure projects, such as the Belt and Road Initiative, necessitate substantial construction equipment, including concrete mixers. Meanwhile, India is witnessing a surge in construction activities to meet the demands of its rapidly urbanizing population, positioning it as one of the fastest-growing construction markets globally. The market is moderately consolidated, with major players like Liebherr Group, SANY GROUP, and Zoomlion Heavy Industry Science & Technology Co. Ltd. expanding their presence and introducing innovative products, such as electric and lightweight mixer trucks, to enhance sustainability and efficiency in construction operations.
Concrete Mixer Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Industry Attractiveness - Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Value in USD Billion/Million)
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2.1 By Type
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2.1.1 Mixer Trucks
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2.1.2 Mixing Plants
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2.2 By Application Type
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2.2.1 Residential
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2.2.2 Commercial
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2.3 By Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Rest of North America
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 United Kingdom
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2.3.2.3 France
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2.3.2.4 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 India
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2.3.3.2 China
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2.3.3.3 Japan
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2.3.3.4 South Korea
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2.3.3.5 Rest of Asia-Pacific
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2.3.4 Rest of the World
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2.3.4.1 Brazil
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2.3.4.2 Mexico
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2.3.4.3 United Arab Emirates
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2.3.4.4 Other Countries
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Concrete Mixer Market Size FAQs
What is the current Concrete Mixer Market size?
The Concrete Mixer Market is projected to register a CAGR of greater than 3% during the forecast period (2024-2029)
Who are the key players in Concrete Mixer Market?
Liebherr Group, Sany Group, Shantui Construction Machinery Co. Ltd, Zoomlion Heavy Industry Science & Technology Co. Ltd and Terex Corporation are the major companies operating in the Concrete Mixer Market.
