PUBLISHER: The Insight Partners | PRODUCT CODE: 1843390
PUBLISHER: The Insight Partners | PRODUCT CODE: 1843390
The concrete pumps market in South and Central America is projected to grow from USD 75.60 million in 2023 to USD 89.23 million by 2031, reflecting a compound annual growth rate (CAGR) of 2.1% during this period.
Executive Summary and Market Analysis
Brazil and Argentina are key players in the South American concrete pumps market, driven by a robust construction sector and government initiatives aimed at enhancing infrastructure. The demand for concrete pumps is expected to rise in Brazil, Argentina, Chile, Peru, the Dominican Republic, and Uruguay due to increased construction activities, including airports, bridges, and metro stations. Urbanization and population growth are further propelling the need for residential and commercial buildings, which in turn boosts the use of concrete pumps for efficient concrete transfer in construction projects.
Market Segmentation
The South and Central America concrete pumps market can be segmented based on type, reach, end user, and power capacity:
Market Outlook
Strong infrastructure is crucial for economic growth, prompting significant investments from governments and construction firms worldwide. In Brazil, notable projects include the GRU Airport People Mover in Sao Paulo, set to enhance connectivity at Latin America's busiest airport by February 2025. Additionally, the Senna Tower in Balneario Camboriu, a planned 544-meter residential skyscraper, aims to be the tallest solely residential building globally, with construction starting in late 2025 and completion expected by 2030. Other projects, such as the Avenida Liberdade highway in Belem and the Metrotranvia Mendoza light rail system, are also underway, with completion dates set for 2025 and 2027, respectively. These infrastructure developments are anticipated to create substantial opportunities for construction machinery and equipment, thereby driving the concrete pumps market forward.
Country Insights
The South and Central America concrete pumps market is primarily composed of Brazil, Argentina, and other countries in the region, with Brazil leading in market share as of 2023. The growth of the construction and infrastructure sectors in Brazil is fueled by economic development and population increases. Significant infrastructure projects, including expansions of major airports in Sao Paulo and Rio de Janeiro, are underway to accommodate growing passenger numbers. The Brazilian government's commitment to privatization is attracting both domestic and international investments. In August 2023, the Brazilian President announced a USD 200 billion investment plan for infrastructure, energy, and transportation from 2024 to 2027. Furthermore, the New Development Bank allocated USD 300 million in 2022 for smart infrastructure development in Sao Paulo, aimed at enhancing water supply and wastewater treatment capacity, which is expected to promote environmental sustainability. The focus on developing smart facilities to meet urban and rural demands is further stimulating construction activities, thus driving the concrete pumps market in Brazil.
Company Profiles
Key players in the South and Central America concrete pumps market include Alliance Concrete Pumps Inc., Concord Concrete Pumps Inc., DY Concrete Pumps Inc., Zoomlion Heavy Industry Science and Technology Co Ltd, XCMG Construction Machinery Co Ltd, Sany Heavy Industry Co Ltd, Liebherr-International AG, AJAX Engineering Limited, BETONSTAR, Sebhsa, Putzmeister America, Inc., CIFA S.p.A., KCP Concrete Pumps Ltd., Sermac Srl, and LUTON Group. These companies are employing various strategies such as market expansion, product innovation, and mergers and acquisitions to enhance their offerings and increase market share.