A concrete mixer homogeneously combines cement and other aggregates such as gravel, sand, and water to form concrete. It uses a revolving drum for mixing the components. The universal concrete use in engineering construction has resulted in placing variety of devices and machines for mixing the materials. These mixers need to employ distinct methods for measuring and mixing the concrete in the desired shape. Throughout the year, there are continuous maintenance and construction jobs in both urban and rural regions. Changing trends in the construction industry has resulted in refinement of the mixing technologies for concrete production as today’s industry increasingly requires shorter mixing times and consistent homogeneity for industrial production of the ready mix concrete (RMC) and pre-cast concrete.
In 2016, total construction spending increased 6.5% as compared to 2015, according to U.S. Census Bureau data. The construction spending for 2018 is expected to increase about 4.8% which is forecasted to be around US$ 773.1 billion. Commercial construction which includes offices, transportation terminals, and parking garages is anticipated to witness 12.4% growth throughout till 2021. Retail construction is expected to drop 2.8% in 2018 as compared to 16.5% decline in 2017. The AIA (American Institute of Architects) Consensus Construction Forecast Panel for the non-residential buildings construction is expected to grow by 3.8% on 2018.
The construction and engineering industry is slower to adopt new technologies and has never gone through a major transformation. Therefore, productivity has been stagnant since the last 40 years and even declined in some cases. These parameters are set to change very soon as profound modifications are being witnessed in the industry. Digitalization has added more construction project opportunities in incorporating systems of intelligent machines, digital sensors, mobile devices, and new software applications which are integrated with platforms of Building Information Modelling (BIM).
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Construction equipment purchases involve huge initial investment; as a result, medium and small enterprises are hesitant to buy new equipment. Renting the construction equipment helps these companies to utilize newer technologies without investing much on the equipment ownership, thus compelling manufacturers to follow leasing and rental techniques for promoting their concrete mixing equipment.
The concrete mixer market can be segmented by product into drum rotating mixer, diesel mixer, twin shaft mixer, non-tilting mixer, and tilting mixer. By end-use, the concrete mixer market is segmented into industrial, commercial, and residential uses. The industry can be further classified by region into Europe, North America, Middle East & Africa, Asia Pacific, and South America.
The Asia Pacific region is expected to have the highest CAGR from 2018 to 2026 as the construction rate is growing at a rapid rate in emerging economies such as India, China, Malaysia, Indonesia, and Vietnam. The increased focus on transportation network developments to encourage cycling and public transport use in Europe and North America is expected to drive the demand for concrete mixers over the forecast timeline.
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Economic events continue to impact the construction industry, resulting in several closures, consolidations, and acquisition activities. However, this industry has stabilized owing to economic growth and surging trends in infrastructure and housing sectors. Rising government spending on infrastructure development is responsible for the indirect growth of the concrete mixer market. The industry is highly competitive and vendors are constantly trying to develop and innovate new varieties of concrete mixers to cater to changing customer needs.
Industry participants in the concrete mixer market are Liebherr-International AG, Caterpillar, Sany Group, Sinotruk Hong Kong Ltd., Shantui Construction Machinery Co. Ltd., Zoomlion Heavy Industry Science & Technology Co., Ltd., and Terex Corporation.