What Fueled The Previous Growth In The Concrete Mixer Trucks Market?
The concrete mixer trucks market has seen considerable growth due to a variety of factors.
• The concrete mixer trucks market has experienced strong growth in recent years. It is expected to rise from $26.51 billion in 2024 to $28.54 billion in 2025, at a compound annual growth rate (CAGR) of 7.6%.
Growth drivers include urban development, population growth leading to increased construction activity, economic expansion, government initiatives, and a shift toward sustainable building practices.
How Does the Forecast Look for the Concrete Mixer Trucks Market?
The concrete mixer trucks market is expected to maintain its strong growth trajectory in upcoming years.
• The concrete mixer trucks market is forecasted to reach $38.1 billion by 2029, growing at a CAGR of 7.5%.
Factors driving this growth include infrastructure upgrades, stricter emissions and safety regulations, replacement demand, the push for sustainable construction, and increased urban development. Key trends include the rise of electric-powered mixers, real-time monitoring via telematics, IoT integration, advancements in engine technology and fuel systems, and improved safety features.
What Are The Leading Drivers Of Growth In The Concrete Mixer Trucks Market?
The expansion of the construction industry is expected to support the growth of the concrete mixer trucks market. As urbanization increases and demand for infrastructure and real estate rises, concrete mixer trucks play a key role in ensuring the efficient delivery and mixing of concrete on construction sites. According to a report by the US Census Bureau in July 2024, the value of construction operations increased from $2.01 trillion in May 2023 to $2.14 trillion in May 2024, supporting the market for concrete mixer trucks.
How Are The Segments Defined Within The Global Concrete Mixer Trucks Market?
The concrete mixer trucks market covered in this report is segmented –
1) By Product Type: Front Discharge Concrete Mixer Trucks, Rear Discharge Concrete Mixer Trucks, Other Product Types
2) By Drum Capacity: Under 6m3, 6.1 to 10 m3, 10.1 to 15 m3, 15.1 to 20 m3, Above 20 m3
3) By Propulsion: Gasoline, Other Propulsions
4) By Application: On-site Mixing, Ready-Mix Concrete Delivery
5) By End-Use Industry: Residential Construction, Commercial Construction, Infrastructure Construction
Subsegments:
1) By Front Discharge Concrete Mixer Trucks: Standard Front Discharge Mixers, Articulated Front Discharge Mixers
2) By Rear Discharge Concrete Mixer Trucks: Standard Rear Discharge Mixers, High-Capacity Rear Discharge Mixers
3) By Other Product Types: Trailer-Mounted Concrete Mixers, Mini Concrete Mixer Trucks
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Which Emerging Market Trends Are Altering The Concrete Mixer Trucks Industry?
Companies in the concrete mixer trucks market are working on electric concrete mixers to reduce carbon emissions and enhance sustainability. These electric mixers provide a cleaner, quieter alternative to diesel-powered mixers. For instance, in February 2023, Volvo Trucks, a Sweden-based truck manufacturer, launched the Volvo FMX electric concrete mixer truck, which features a fully electric powertrain and regenerative braking technology to minimize energy consumption and environmental impact.
Who Are the Key Players In The Concrete Mixer Trucks Market?
Major companies operating in the concrete mixer trucks market are:
• Hyundai Motor Company
• Scania AB
• China National Heavy Duty Truck Group Co. Ltd.
• Liebherr-International AG
• Dongfeng Motor Corporation
• Foton Motor Group Co. Ltd.
• JAC Motors
• Zoomlion Heavy Industry Science & Technology Co. Ltd.
• SANY Group Co. Ltd.
• Terex Corporation
• LiuGong Machinery Corporation
• KYB Corporation
• ShinMaywa Industries Ltd.
• Fangyuan Group Co. Ltd.
• Shanxi Construction Machinery Group Co. Ltd.
• XCMG Group
• Janeoo Machinery Co. Ltd.
• Hainuo Group Co. Ltd.
• Linyi Construction Machinery Co. Ltd.
• Yate Auto Group Co. Ltd.
• Shandong Rujin Machinery Co. Ltd.
What Is The Most Dominant Region In The Concrete Mixer Trucks Market?
Europe was the largest region in the concrete mixer trucks market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the concrete mixer trucks market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
