According to a new report published by Allied Market Research, titled, “Flexible Concrete Vibrator Market," The flexible concrete vibrator market size was valued at $266.42 million in 2020, and is estimated to reach $376.00 million by 2030, growing at a CAGR of 3.3% from 2021 to 2030.
Commonly observed types of flexible concrete vibrator are hand held flexible concrete vibrator and stand mounted flexible concrete vibrator. Among these, the hand-held segment accounted for the highest flexible concrete vibrator market share in 2020, owing to surge in spending on construction of residential and non-residential buildings, and infrastructure development projects. The market is analyzed with respect to different applications such as construction & infrastructure and by fuel type into electric, gasoline, and diesel. The market is mainly driven by rise in construction activities by private and public entities along with high government spendings on infrastructure projects across the world. However, fluctuating prices of raw materials that are used for manufacturing flexible concrete vibrators constraints growth of the market.
In 2020, Asia-Pacific dominated the global flexible concrete vibrator market, in terms of revenue, followed by North America and Europe. Moreover, the market in Asia-Pacific has grown with high CAGR, owing to growth in construction activities by government and private entities.
Advancements in cordless flexible concrete vibrator technologies have significantly increased usability of flexible concrete vibrators in construction sites, where electricity is not readily available. Hand-held flexible concrete vibrators are suitable for small concrete pouring. These are best for operators standing on elevated platforms, owing to their lightweight feature. In addition, development in battery technology has enabled users to operate vibrators without concerns of tripping over the electric cords. These factors positively influence the flexible concrete vibrator market growth.
Furthermore, on the basis of fuel type, the electric segment is anticipated to grow rapidly during the forecast period, owing to development of advanced batteries.
For instance, in May 2021, Shandong Hiking Machinery Co., Ltd., launched Lzb-3500, a cordless hand-held flexible concrete vibrator. It is powered by a 21v lithium-ion battery, which has a battery life of more than 90 minutes on a single charge. It is light in weight, easy to carry and produces less noise. In addition, lzb-3500 can prevent risk of electric shocks to construction workers.
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However, during the pandemic lockdown, various manufacturers in the flexible concrete vibrator market had to stop their business in countries such as China, the U.S., and India. This break directly impacted sales of flexible concrete vibrator manufacturing companies. In addition, lack of manpower and raw materials constricted supply of flexible concrete vibrator components; and has negatively influenced growth of the market. However, reopening of production facilities and introduction of vaccines for coronavirus disease are anticipated to lead to re-opening of flexible concrete vibrator manufacturers
Key companies profiled in the flexible concrete vibrator market report include Atlas Copco Group, Badger Meter, Inc., Enar Group, Exen Group, Foshan Yunque Vibrator Co., Ltd., Multiquip Inc., Vibco Inc., Wacker Neuson Group, Wamgroup S.p.A, and Weber Maschinentechnik GmbH.
KEY FINDINGS OF THE STUDY
- The report provides an extensive analysis of the current and emerging flexible concrete vibrator market Trends and dynamics.
- Depending on product type, the hand held flexible concrete vibrator dominated the flexible concrete vibrator market, in terms of revenue in 2020 and it is projected to grow at a significant CAGR during the forecast period.
- By fuel type, the electric segment registered highest revenue in 2020.
- Asia-Pacific is projected to register highest growth rate in the coming years.
- Key players within the flexible concrete vibrator market are profiled in this report and their strategies are analyzed thoroughly, which help understand competitive outlook of the flexible concrete vibrator industry.
- The report provides an extensive analysis of the emerging flexible concrete vibrator market opportunity.
- In-depth flexible concrete vibrator market analysis is conducted by constructing estimations for the key segments between 2021 and 2030.
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