Ride-on Power Trowel Market
Ride-on Power Trowel Market by Product Type (Hydrostatic Ride-on Power Trowel, Mechanical Ride-on Power Trowel), by Troweling Diameter (36 inch, 48/49, 59/60 inch troweling diameter), by Region - Global Forecast 2022-2032
Analysis of Ride-on Power Trowel market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Ride-on Power Trowel Market Outlook
The global ride-on power trowel market is likely to reach a valuation of around US$ 87 Mn in 2022. The sales of ride-on power trowel are slated to accelerate at a steady CAGR of 4.6% to top US$ 137 Mn by 2032.
Ride-on power trowel is primarily used for troweling concrete surfaces during the finishing and floating processes. Because of the enormous loads in these areas, ride-on power trowels are employed in warehouses, residences, industrial structures, airports, and garages. Airports and large warehouse projects are increasing demand for ride-on power trowel since they have high requirement for levelled and smooth surfaces.
Rapid industrialization in countries like India, Indonesia, GCC Countries as well as growing infrastructural development in developing economies, are providing significant drivers for ride-on trowels market. However, finding cost effective ride-on trowels that possess greater fuel efficiency and lever controls is a significantly difficult however in forthcoming years this problem would be addressed by prominent players.
Mechanical ride-on trowel category dominated the global market with revenue share of around 70% over historic period, and is predicted to remain in same growth trajectory over the forecast period. Mechanical ride-on trowels are in high demand due to their superior maneuverability, increased operator comfort, and low maintenance requirements.
During the projection period, strict enforcement regulations in various developed and growing countries would be a crucial element in encouraging their adoption.
|Ride-on Power Trowel Market size value in 2022||US$ 87 Mn|
|Ride-on Power Trowel Project Market Forecast Value in 2032||US$ 137 Mn|
|Global Ride-on Power Trowel Growth Rate (2022-2032)||CAGR 4.6%|
|Ride-on Power Trowel Market Share of Top 5 Companies||17%-22%|
|Key Companies Profiled|
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Revenue of Ride-on Power Trowel Market from 2017 to 2021 Compared to Demand Outlook for 2022 to 2032
- North America is a prominent region in market due to the rising demand in ride-on power trowel market in U.S., which is anticipated to grow at a CAGR of 4.7%, and reach a market value of around US$ 33 Mn by 2032.
- The MEA is expected to hold a market value of nearly US$ 20 Mn in 2022 owing to high rate of technology adoption.
- The MEA and Europe contributed significantly to the growth of the ride-on power trowel market, and is expected to account for around 22.2% and 23.4% market share in 2022 respectively.
What are the Key Factors Impacting Global Ride-on Power Trowel Market?
Construction sector in North America will continue to grow as the economy expands with few challenges arising from the developing economics which are trying to mark their foot in the market.
Spending on construction industry in region has increased significantly in recent years, but end-use industry are still struggling to meet demand. Continued economic growth in region, along with a commercial real estate boom, has resulted in new job prospects in construction sector of North America.
However, a scarcity of competent workers will continue to be a key issue, resulting in longer project durations and rapid wage growth in the forthcoming years. These variables will have a substantial impact on North American market.
The residential construction, especially the new house construction, rather than renovation is driving the market in upcoming years according to Euroconstruct. The growing interest of European Union in construction industry is surging the demand in near future.
How the Rising Demand for Construction Industry Leading the Ride-on Power Trowel Market to Grow?
Since the construction industry is growing at a billion dollar pace, demand of construction equipment are rising. Emerging economies are acting as supporting pillar for construction industry because countries are not only depending on technology but infrastructure which is playing a vital part in economic growth of country.
Modernistic approach is required in infrastructure development and ride-on power trowel showing its presence in industry owing to its hassle free functionality which allow operator to use it in easy manner. This has led the ride-on power trowel market to evolve and expand at a growth rate of 4.6% over the assessment period.
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How the market in U.S. Shaping Up for Ride-on Power Trowel Sales?
Ride-on power trowel market in the US has been experiencing a accelerating growth in market driven by the innovations and technology advancement. U.S. is likely to dominate the ride-on power trowel market in North America region owed due to increase in usage of construction equipment and other machineries.
This is likely to hold a market share of more than 85% in North America and is expected to grow at a valuation of around US$ 33 Mn by the end of forecast period.
How is GCC Countries Ride on power Trowel Market Faring?
GCC is considered as the backbone of construction industry in Middle East region, and sales of ride-on power trowel in these six countries define the momentum. Ride-on power trowel companies around the globe look at their GCC country sales and draft growth strategy accordingly.
FIFA, one of the most followed events in the world, will be held in the GCC, and requires a large amount of construction equipment to level the stadium surface. Ride-on power trowel are one of the primary machinery which is poised to generate additional revenue for the region. In GCC, ride-on power trowel market is expected to hold a valuation of approximately US$ 12 Mn in 2022 and to grow at a valuation of nearly US$ 21 Mn in 2032.
How the Growing adoption of Mechanical Ride-on Power Trowel Add Value in Ride-on Power Trowel Market?
The primary reason why mechanical riders are a worthwhile investment is their low initial cost. Hydrostatic ride on power trowels cost more than mechanical trowels although they perform the same function. Hydrostatic rides are also significantly more expensive to repair if they break down due to the additional parts and engineering added in them to enhance their technology.
In levelling slabs, experience and visibility are required while operating the machinery. One of the prominent attributes of mechanical ride-on power trowel is that when they move trowlers operator easily feel the slab owing to which demand of mechanical ride-on power trowel market is achieving promising heights in terms of revenue generation. The mechanical ride-on trowel is expected to be valued at US$ 93 Mn in 2032.
How Construction Industry is Creating Lucrative Opportunities for ride-on power trowel Market?
The growing demand for mechanized concrete finishing in areas with large surfaces is the primary factor driving demand for ride-on power trowels. Consumer expectations for the smoothness and flatness of concrete surfaces in industrial, commercial, and residential buildings have fueled demand for improved ride-on power trowels which are capable of handling heavy loads.
With developing countries are focusing more on infrastructure development, the construction industry is expanding rapidly. Furthermore, in these economies, laborers are demanding more construction equipment, which has increased demand for efficient construction equipment like ride-on power trowels.
Heavy loads are involved in building activities in airports and large warehouses, necessitating the use of technologically advanced troweling methods that are well-suited for smoothing down high-tolerance concrete floors and to increase efficiency and precision mechanical components are required and ride-on power trowel is one of them.
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
According to the ride-on power trowel industry analysis, Multiquip, Allen Engineering, Wacker Neuson, Atlas Copco, Parchem Construction, Dragon, Bartell, MBW, Shenhua, Dynamic, Masterpac, and Roadway are identified as key players manufacturing ride-on power trowel.
The market frontrunner discussed in the report are focused on expansion, investment, acquisitions, delivery focus, portfolio expansion, and brand development. The companies are focused on developing robust distribution network to cater to the wide spread customer base due to growing number of construction and infrastructure development.
Competitive pricing strategy is followed by market participants to capture significant market share and create opportunities for additional revenue generation.
Similarly, recent developments by top providers of ride-on power trowel have been tracked by the team at Fact.MR, which are available in the detailed report.
Market Segments Covered in ride-on power trowel:
By Product Type
- Hydrostatic Ride-on Power Trowel
- Mechanical Ride-on Power Trowel
By Troweling Diameter
- 36 inch troweling diameter
- 48/49 inch troweling diameter
- 59/60 inch troweling diameter
- FAQs -
The global ride-on power trowel is likely to be worth more than US$ 87 Mn in 2022.
The ride-on power trowel is projected to increase at a CAGR of over 4.6% during 2022 – 2032.
The rising demand for smooth finishing of the concrete surfaces is driving the demand for ride-on power trowel.
Top 5 players of ride-on power trowel account for around 17% to 22% share in the market.
Top 5 countries driving demand for ride-on power trowel are the U.S., China, Germany, India and Japan.