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Asia Pacific Mobile Concrete Mixer Market

Asia Pacific Mobile Concrete Mixer Market Share to Hit USD 4,926 Million by 2030, at CAGR of 6.1%

Published On : 02 Nov, 2022
Updated On : 14 Nov, 2022
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Market Snapshot

Base Year:
2021
Study Period:
2020-2030
CAGR:
6.1 %

Mobile concrete mixers are movable trucks or trailers that are used to produce concrete by mixing cement, sand, water, gravel, and occasionally binding adhesives on the building site. Concrete mixing drums positioned on a truck chassis are self-driven, however drums mounted on trailer chassis need to be pushed by attaching it to another vehicle.

The Asia Pacific mobile concrete mixer market size is expected to reach a valuation of USD 4,926 million by 2030, growing at a CAGR of 6.1% during the forecast period (2022-2030). According to the volume of concrete that each mobile concrete mixer is capable of producing, these mixers are divided into three categories. These concrete mixers are transported to the construction sites by being mounted on the frames of trucks or trailers before being transported there. In order to prevent the unnecessary disposal of fresh concrete at certain locations, it must be manufactured there. This prevents an increase in building expenses that would have been caused by unused concrete. Sand, cement, water, gravel, and occasionally glues that keep them together are the ingredients that go into making concrete, and mobile concrete mixers are the tools that are used to manufacture the substance. After that, the concrete is poured out of a nozzle that is either located on the front or back of the truck or trailer, depending on how the concrete was created.

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Market Dynamics

Drivers

Concrete mixers are used in the construction business because of their capacity to make maintenance work easier. This has led to their increased prevalence in the industry. In recent years, there has been a significant increase in the demand for environmentally responsible housing that is also affordable. It is anticipated that the expansion of sales will be driven by this element in the market for concrete mixers in the years to come.

In recent years, there has been a rise in the number of people migrating from rural regions to metropolitan centres as a result of the growing pace of industrialisation that has occurred in many developing nations throughout the world. This aspect is causing an increase in the number of residential projects in these regions, which is, in turn, contributing to the rise of sales in the market for concrete mixers.

The market in Asia Pacific is anticipated to acquire excellent growth possibilities in the approaching years as a result of many variables including fast urbanisation, an increase in industrialisation, and increased efforts made by regional government authorities toward the construction of infrastructure.

Restraints

Asia Pacific Mobile concrete mixers market are often high-priced construction vehicles that are either huge trucks or other types of heavy machinery. People who do not use the equipment on a consistent basis or for an extended period of time typically rent it rather than purchasing an expensive machine that they only use a few times each year. Customers just do not have the financial means to invest in such pricey machinery, and it's possible that they won't always want the exact same unit. In addition, a large number of clients are unable to purchase the equipment because they are unable to obtain loans with exorbitant interest rates. For instance, there are times when the building site need machinery for excavating, other times when it requires machinery for transferring materials, and still other times when it requires machinery for mixing concrete. Customers do not have enough money to purchase all of the equipment, thus this option is unavailable to them. However, if you rent only the machine that you require, you will be able to save a significant amount of money on equipment and put that savings toward other endeavours.

Segment Overview

When broken down according to capacity, the aforementioned market may be divided into two primary categories: 6–10 m3 and more than 10 m3. The 6–10m3 category now holds the majority of the market share and is projected to be worth USD 6,901 million by the year 2030 at a CAGR of 5.5%. Concrete mixers that fall within the 6–10 m3 capacity range are often considered to be of a medium size.

The number of construction sites that require Asia Pacific mobile concrete mixer market is expected to increase as a result of increased funding from the government for the construction of new infrastructure. As a result, governments have begun purchasing their own construction equipment, such as mobile concrete mixers, especially those with capacities ranging from 6 to 10 m3 and having a preference for the medium size. It is anticipated that the market value of the over 10m3 category in the aforementioned segmentation would reach USD 3,363 million by the year 2030, expanding at a compound annual growth rate of 5.7%. Large in size, these mixers are typically put to use in the construction of concrete highways and other labor-intensive building projects.

When the market for mobile concrete mixers is broken down by chassis type, it is then broken down even further into two categories: trucks and trailers. Trucks are the primary market participants, and analysts anticipate that the market value of trucks will reach $10,978 million by the year 2030, growing at a compound annual growth rate of 5.6%. The mobile concrete mixers with drums that are installed on truck chassis are the topic of discussion in this part. The concrete mixer on a truck-type Asia Pacific mobile concrete mixer market is self-driven; it has the engine situated in the back, along with a seat for the driver, and it is coupled to the chassis of the truck.

The trailer is the second classification of this market, and it is anticipated that it will develop at a compound annual growth rate of 6.4 % until 2030, when it will be worth USD 8, 34.2 million. In this particular sector, the mobile concrete mixer that consists of a drum is installed on a trailer chassis. The drum of the concrete mixer is mounted on wheels, and the chassis of the trailer that it is being pulled by is hitched up to another vehicle.

Regional Overview

Asia Pacific Mobile Concrete Mixer Market Countrywise Analysis

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The Asia-Pacific region holds the largest market share, which was estimated to be worth USD 2,882 million in 2021. This share is forecast to increase to USD 4,926 million by 2030 at a CAGR of 6.1 %, making it the most dominating region in the market. The Asia-Pacific region is the one that is expanding at the quickest rate and has the most ongoing construction development projects.

In India, the housing business is one of the fastest-growing industries, since it has an estimated deficit of roughly 18 million residences, among which 99 % is in the economically poorer parts of the community. The government of India has introduced a number of housing plans, one of which is called the "Home for All project," and its primary objective is to provide people with access to affordable housing by the year 2022.

China, Singapore, and India are driving the growth of the concrete mixer market, but Japan is struggling owing to the drop in housing since Japan's population is falling. China, Singapore, and India are driving the growth of the concrete mixer market. China's "One Belt, One Road" initiative, also known as the China Silk Road and consisting of a multibillion-dollar investment, plans to connect Southeast Asia to Eastern Europe and Africa. The initiative includes 71 countries, which collectively account for half of the world's population and one-fourth of the global GDP. The programme is making a number of promising prospects available across Asia and the nations that border it. Worries have been expressed, however, because the effort is a type of economic imperialism that provides China influence over other nations that are smaller and less developed. This has led to the concerns. On the other hand, India is anticipated to be one of the building markets that is expanding at one of the quickest rates in the globe, as the country is on track to overtake China as the country with the most inhabitants by the year 2022.

In addition, Asia is home to a number of the world's leading construction firms, the combined sales of which account for almost half of the industry's total revenue worldwide.

Major Players

  • KYB Corporation
  • Sany Group
  • Tata Motors
  • Zoomlion

Recent Developments

September 20, 2021 - Zoomlion increased its business activities in China in order to facilitate high-quality manufacturing at a brisk pace and better meet the requirements of its customers.

Asia Pacific Mobile Concrete Mixer Market: Segmentation

By Capacity 

  • 6-10m3
  • Above 10m3

By Chassis Type

  • Truck
  • Trailers

By Country

  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia Pacific
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