The key players in the MENA truck-mounted concrete pump market for 2015 were Putzmeister, Schwing, and The Liebherr Group. Their collective share of 54.9% in the market’s overall value denotes a consolidated playing field for all names in the truck-mounted concrete pump manufacturing business. All existing players in the MENA truck-mounted concrete pump market are involved in highly competitive business strategies in order to gain the upper hand in sales and overall revenue generation.
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According to market intelligence provider Transparency Market Research, the MENA truck-mounted concrete pump market is likely to be a field of moderate competition. Current key players in the market are expected to ramp up the competitive pricing strategies in order to gain a better share of the burgeoning construction sector demand. At the same time, the MENA truck-mounted concrete pump market is not a favorable ground for new entrants due to the high capital required as well as the high level of trust and client pool held by the current key players such as Putzmeister and Schwing. 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 2024 after experiencing a CAGR of 5.8% from 2016 to 2024.
UAE and Qatar Beacons for Truck-mounted Concrete Pump Makers
One of the top factors boosting the MENA truck-mounted concrete pump market currently is the region’s booming construction sector. There is a very high demand for the creation of residential projects such as large-scale housing areas. Outside of the residential sector, the construction sector is also befitting from the massive demand for more and better quality office spaces and industrial infrastructure. This forms the core driver for all current manufacturers of truck-mounted concrete pumps in the Middle East and North Africa. A TMR analyst states, “Above all regions lay UAE and Qatar in terms of the overall demand for truck-mounted concrete pumps. Both regions are showing a staggering lead in construction activities within the MENA region, Qatar especially is expected to show a very steep curve in demand for construction project equipment over the coming years, thanks to the upcoming FIFA World Cup in 2022 being hosted here.”
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Crude Price Volatility Continues to Deter Growth in Demand for Truck-mounted Concrete Pumps
The oil and gas sector has been exposed to a high degree of unpredictability in terms of production volumes and overall pricing scope over the past few years. This oil pricing volatility has had a severely negative impact on a large number of industries, particularly those that include transportation and travel as a key part of their process. This is currently a primary restraint on the MENA truck-mounted concrete pump market which is heavily dependent on the consistent and even increasing supply of conventional fuels.