The Concrete Finishing Equipment Market industry is projected to grow from Significant Value by 2032, exhibiting a compound annual growth rate (CAGR) of 7.00% during the forecast period (2024 - 2032). The rise in the number of active residential and commercial projects as well as the future building permissions provided by the appropriate governmental agencies are expected to be a significant market driver for the Concrete Finishing Equipment Market.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Market CAGR for concrete finishing equipment is being driven by the increasing number of residential and commercial projects and a surge in consumers opting for remodeling or renovating existing houses. The concrete finishing equipment market is experiencing heightened utilization by regional municipal corporations for the construction of roads and essential infrastructure in urban and semi-urban areas. Additionally, the market is poised for substantial growth, driven by the escalating number of ongoing residential and commercial projects, coupled with the anticipated approvals for future constructions by relevant governmental bodies. According to the US Census, the annual rate of privately-owned housing units authorized by building permits in November registered at 1,460,000, reflecting a 2.5% decline from the revised October rate of 1,498,000 but a 4.1% increase compared to the November 2022 rate of 1,402,000.
Furthermore, the surge in consumers opting for remodeling or renovating their existing houses and apartments is expected to contribute significantly to the concrete finishing equipment market's growth. The primary driver behind the increasing preference for concrete-based surfaces is the remarkable durability and resistance of concrete to extreme climatic conditions. This underscores the market's potential for expansion as it aligns with the evolving needs and preferences within the construction and remodeling sectors. As a result, it is anticipated that throughout the projection period, demand for the Concrete Finishing Equipment Market will increase due to the Increasing residential and commercial projects and a surge in consumers opting for remodeling or renovating existing houses. Thus, driving the Concrete Finishing Equipment Market revenue.
The Concrete Finishing Equipment Market segmentation, based on Type includes Trowel Blades, Long Handle Float, Power Trowels, Mechanical Tube Finisher, Vibratory Screed Finisher, Tining Machine, Concrete Edger, and Others. The power trowels segment dominated the market, accounting for 58% of market revenue (XX Billion). Power trowels offer swift coverage of large areas, significantly minimizing time and effort compared to manual troweling. The automation of most tasks reduces physical fatigue and strain for operators compared to traditional manual troweling methods.
Figure 1: Concrete Finishing Equipment Market, by Type, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The Concrete Finishing Equipment Market segmentation, based on End-User includes Residential, Commercial, and Industrial. The residential segment dominated the market, accounting for 58% of market revenue (XX Billion). Achieving higher-quality and aesthetically pleasing finishes for residential properties is becoming more and more important to developers and homeowners. The use of advanced concrete finishing tools that produce polished, smooth, and aesthetically pleasing surfaces has increased due to this trend.
By region, the study provides market insights into North America, Europe, Asia-Pacific, and Rest of the World. The anticipated expansion of the Concrete Finishing Equipment market in North America can be attributed to several key factors. Government-led initiatives and private investments in infrastructure, encompassing projects like roads, bridges, and public facilities, act as catalysts for the construction sector. Notably, in 2020, state and local governments allocated a substantial $211.8 billion towards transportation and infrastructure projects, excluding government transfers, representing 57% of the total government expenditure in this domain. The execution of such projects frequently demands the utilization of sophisticated concrete finishing equipment to guarantee the superior quality and durability of the constructed structures.
Further, the major countries studied in the market report are the US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: CONCRETE FINISHING EQUIPMENT MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe's Concrete Finishing Equipment Market accounts for the second-largest market share as Urbanization is a dominant trend in Europe, driving the establishment of smart cities and the revitalization of existing urban regions. New housebuilding constitutes a substantial 20.6% of the overall investment in construction, emerging as a primary catalyst for the notable upswing in construction investment witnessed in 2021. Renovation investments account for a significant 29.9% of the total construction investment. In these endeavors, the use of concrete finishing equipment is imperative for attaining superior-quality and visually appealing surfaces in various structures, including buildings, walkways, and public spaces. This underscores the essential role of advanced concrete finishing equipment in catering to the demands of these prominent construction segments. Further, the German Concrete Finishing Equipment Market held the largest market share, and the UK Concrete Finishing Equipment Market was the fastest-growing market in the European region
The Asia-Pacific Concrete Finishing Equipment Market is expected to grow at the fastest CAGR from 2023 to 2032. Government initiatives, policies, and investments are instrumental in propelling the construction industry forward. Numerous countries in the Asia-Pacific region are actively prioritizing the enhancement of their infrastructure. These initiatives frequently demand the deployment of advanced concrete finishing equipment to align with contemporary construction standards. Notably, transformative programs like the Smart City Mission, aiming for 100 smart cities, signify a commitment to improving the quality of life through modern and technology-driven urban planning. Additionally, the identification of 54 global innovative construction technologies under the Technology Sub-Mission of PMAY-U marks the initiation of a new era in the Indian construction technology sector. Moreover, China’s Concrete Finishing Equipment Market held the largest market share, and the Indian Concrete Finishing Equipment Market was the fastest-growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development to expand their product lines, which will help the Concrete Finishing Equipment market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Concrete Finishing Equipment industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Concrete Finishing Equipment industry to benefit clients and increase the market sector. In recent years, the Concrete Finishing Equipment industry has offered some of the most significant advantages to the construction sector. Major players in the Concrete Finishing Equipment Market, including Beton Tool Company, Allen Engineering Corporation, Atlas Copco Limited, Mekaster Engineering Limited, Ligchine International, Masterpac Corporation, Gomaco Corporation, Multivibe, Universal Construction Machinery, Bartell Global, KYB Conmat Pvt. Ltd., Flextool, Cessco, Inc., Somero Enterprises, Inc., Wacker Neuson SE, and Jurong Topall Machinery Co. Ltd are attempting to increase market demand by investing in research and development operations.
Established in 1964 by Dewayne and Mary Ann Allen in Piggott, Arkansas, Allen Engineering Corp. (AEC) originated as a Ready-Mix Concrete Operation. Over the years, the company transitioned from being a Ready Mix and Aggregate Producer with six locations in Arkansas and Missouri to becoming a Concrete Pumping operation and later transforming into a full-fledged Concrete Contractor. In 1977, Dewayne Allen pioneered the manufacturing of Allen's inaugural concrete equipment, the Razorback® Truss Screed, at an old Truck Repair Shop in Paragould, Arkansas. Today, AEC has evolved into a prominent entity as a designer, manufacturer, distributor, and marketer of the Allen® line of Concrete and Related Equipment. This product line is not only distributed nationwide but also has a global presence, catering to diverse needs in the construction industry. The comprehensive Allen product line offers an integrated system for site preparation, concrete placement, finishing, and paving across various concrete applications.
GOMACO Corporation specializes in the production of a diverse range of equipment suitable for various concrete construction endeavors. The product lineup includes curb and gutter machines, concrete slip-form pavers, placer/spreaders, trimmer/placers, cylinder finishers, canal machinery, and accompanying accessories. These offerings cater to a broad spectrum of concrete construction projects, encompassing streets, highways, airport runways, curb and gutter installations, sidewalks, recreational trails, safety barriers, bridge parapets, and irrigation canals. The comprehensive support equipment includes grade trimmers, concrete placers, and concrete placer/spreaders, as well as texturing and curing machines. Additionally, GOMACO provides equipment designed for finishing flat slabs, bridges, and slopes. For extensive or unique concrete paving projects, GOMACO offers consultation services to guide clients in selecting the most suitable equipment for their specific needs.
December 2020: In December 2020, Husqvarna Group's Construction Division successfully acquired Blastrac N.A., a prominent provider of surface preparation technologies catering to the global construction and remediation industry. The addition of Blastrac's product range synergistically enhances the comprehensive offerings of Husqvarna's Construction Division in the realm of concrete surfaces and floors.
March 2017: In March 2017, Husqvarna Group's Construction Division bolstered its capabilities by acquiring HTC's floor grinding solutions division. This strategic move was aimed at fortifying their capacity to develop and provide customers with comprehensive floor solutions in the construction segment, further solidifying their position in the market through this acquisition.
| Report Attribute/Metric | Details |
| Market Size 2022 | Significant Value |
| Market Size 2023 | Significant Value |
| Market Size 2032 | Significant Value |
| Compound Annual Growth Rate (CAGR) | 7.00% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2023 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, End-User, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Beton Tool Company, Allen Engineering Corporation, Atlas Copco Limited, Mekaster Engineering Limited, Ligchine International, Masterpac Corporation, Gomaco Corporation, Multivibe, Universal Construction Machinery, Bartell Global, KYB Conmat Pvt. Ltd., Flextool, Cessco, Inc., Somero Enterprises, Inc., Wacker Neuson SE, and Jurong Topall Machinery Co. Ltd |
| Key Market Opportunities | · The rising urbanization coupled with the setting up of several industries |
| Key Market Dynamics | · The high number of ongoing and upcoming construction projects of residential accommodation as well as commercial spaces |
Frequently Asked Questions (FAQ) :
The Concrete Finishing Equipment Market size was valued at significant value in 2022.
The Concrete Finishing Equipment Market is projected to grow at a CAGR of 7.00% during the forecast period, 2024-2032.
North America had the largest share of the global market
The key players in the market are Beton Tool Company, Allen Engineering Corporation, Atlas Copco Limited, Mekaster Engineering Limited, Ligchine International, Masterpac Corporation, Gomaco Corporation, Multivibe, Universal Construction Machinery, Bartell Global, KYB Conmat Pvt. Ltd., Flextool, Cessco, Inc., Somero Enterprises, Inc., Wacker Neuson SE, and Jurong Topall Machinery Co. Ltd
The Power Trowels segment dominated the market in 2022.
The Residential segment had the largest share in the global market.
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Research Analyst Level II I have a degree in engineering (civil), with masters in business administration (marketing). with more than 4 years of experience in market research and consulting, i am involved in end-to-end process of market research, proposals, project kickoffs and delivery. i have research knowledge and expertise in consumer goods/packaging domain. also i have worked for various other domains like construction & equipment. effectively managed and delivered more than 60 report studies for regional as well as global clientele.
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