Ride-on Power Trowel Market is expected to grow at a CAGR of 2.70%
Ride-on power trowels are construction equipment employed for trowelling concrete surfaces through floating and finishing operations. Operated by a human riding over the machine, ride-on power trowels provide smooth finishes to concrete surfaces. The power trowel situated at the bottom of the equipment is controlled by the riding operator based on the requirement.
Burgeoning Growth of Construction Sector driving Need for Ride-on Power Trowels
Growing need for mechanized concrete finishing in areas with large surfaces is the primary factor stoking demand for ride-on power trowels. Consumer expectations associated with smoothness and flatness of concrete surfaces in industrial, commercial, and residential buildings has been increasing, which in turn has bolstered demand for advanced ride-on power trowels for catering heavy load requirements. The construction industry is witnessing a burgeoning expansion, with emerging economies focusing more on their infrastructure development. Moreover, the once low-cost labor is demanding for higher wages in these economies, which in turn has driven the need for effective construction equipment such as ride-on power trowels. Operations related to construction activities in airports and huge warehouses involve heavy loads, which in turn make adoption of technologically advanced trowelling technologies that are well-suited for smooth finishing of high-tolerance concrete floors.
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Intensifying demand for high production and superior floating & finishing jobs has been simulating technology improvements. Non-overlapping ride-on power trowels are in high demand among contractors on the back of their superior floating provision and cost-effectiveness. However, lack of operator comfort, and need for regular maintenance of this sophisticated equipment, coupled with the high operation costs are key factors expected to stymie adoption of ride-on power trowels, particularly among small contractors. According to a recent research study compiled by Fact.MR, global ride-on power trowel market will exhibit an average growth throughout the forecast period, 2017 to 2026. Over 33,000 units of ride-on power trowels are estimated to be sold globally by 2026-end.
APEJ to Remain Dominant Market for Ride-on power trowel
Burgeoning infrastructural development in countries such as India and China, along with rising gross household disposable income of the population will stoke demand for ride-on power trowels in Asia-Pacific excluding Japan (APEJ). In terms of revenues as well as sales expansion, APEJ is estimated to remain the dominant market for ride-on power trowels, trailed by Europe and North America. Middle East & Africa (MEA), on the other hand, is expected to be the least lucrative market for ride-on power trowels through the forecast period.
Facilitated use and relatively lower cost of mechanical ride-on power trowels have made them preferred product for finishing of concrete surfaces in various construction sites. Revenues from mechanical ride-on power trowel sales will account for nearly three-fourth market share by 2026-end.
Ride-on power trowels with 36 inch and 48/9 inch trowelling diameter are anticipated to remain financially rewarding in the global market. In contrast, 59/60 inch diameter ride-on power trowels will remain less lucrative through the forecast period.
Many prominent players are focusing on engineering products, which enable more convenience in operations for extended durations. Emerging players are making significant investments in research & development activities for eating into shares of the market. Opportunities exist for market players with regard to development of advanced ride-on power trowels providing user-friendly controls, optimum operational requirements, and easy maneuverability.
Fact.MR’s report profiles key players supporting expansion of the global ride-on power trowel market, which include Multiquip, Allen Engineering, Wacker Neuson, Atlas Copco, Parchem Construction, Dragon, Bartell, MBW, Shenhua, Dynamic, Masterpac, and Roadway.
Report Overview at https://www.factmr.com/report/373/ride-on-power-trowel-market