Some of the prominent players operating in the
ride-on trowel market are Allen Engineering, Bartell Machinery
Systems, Atlas Copco, Shanghai Dragon Construction Equipment Co.,
Ltd., Multiquip-Whiteman, Masterpac, MBW Inc., Ltd., Parchem
Construction Supplies Pty. Ltd., Shanghai Dynamic Construction
Machinery Co. Ltd. and Wacker Neuson, finds Transparency Market
Research (TMR). Several of these players are offering a wide product
portfolio featuring user-friendly, ergonomic control systems for
various applications and are focused on strengthening their sales
strategies, in order to consolidate their shares in various regions,
notes TMR.
A number of emerging and leading players are
investing in product innovations. They are developing robust
technologies featuring a combination of size and power to enable more
time-efficient operation, in a move to stay ahead of others, observes
the market research firm. As a result, the overall market is fairly
competitive.
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Witnessing ample opportunities in the construction
industry in several developed and developing regions and continued
expansion of infrastructural developments worldwide, the global
ride-on trowel market is prognosticated to rise at a CAGR of 4.7%
from 2017 to 2025, according to TMR. The market stood at US$67.0 Mn
in 2016 and is predicted to reach a valuation of US$101.0 Mn by the
end of 2025.
Based on type of fuel used, ride-on trowels are
powered by petrol, diesel, and electric. Of these, petrol-based
ride-on trowel held the leading market share in 2016 and is projected
to dominate throughout the forecast period. The demand for these will
primarily be driven by a burgeoning construction industry in various
parts of the world, especially in emerging countries. Regionally,
currently North America leads the global market, vis-à-vis revenue,
and is expected to retain its dominance throughout the assessment
period.
Rapid Pace of Infrastructural Development to
Stoke Demand
The need for mechanized concrete finishing
technology for trowelling concrete surfaces is a key factor boosting
the demand for ride-on trowels. The rising demand for flat and
smoother concrete surfaces in residential, commercial, and industrial
buildings to meet heavy load requirements is a key aspect bolstering
the demand for better ride-on trowel technology. A burgeoning
construction industry in various developing regions and the rapid
pace of infrastructural development in several emerging economies,
coupled with the increasing labor cost, are prominent trends stoking
the demand for these construction equipment.
The presence of heavy loads in airports, garages,
and warehouses is a key factor driving the demand for advanced
trowelling technologies suitable for high-tolerance concrete floors,
thereby boosting the overall ride-on trowel market. The intensifying
demand for superior floating and high production finishing jobs in
developing and developed nations is a prominent factor that will
stimulated technology improvements. A number of emerging players
investing in research and development activities bodes well for the
market. There is prominent demand for non-overlapping machines among
contractors owing to their cost-effectiveness and ability to provide
superior floating for high production finishing jobs. This augurs
well for the ride-on trowel market.
Operator Comfort Key Constraint Impeding
Adoption
The lack of operator comfort and high maintenance
of sophisticated machinery, along with their high cost of operation,
are key factors likely to impede the adoption of ride-on trowels
among relatively small contractors. Nevertheless, several prominent
players are focused on engineering products that allow more
convenient operation over extended period of time. The advent of
advanced ride-on trowel lines with user friendly controls, easy
maneuverability, and optimum operational requirements is a crucial
factor opening lucrative avenues for market players.
Complexity in Compatibility Hindering Growth
Compatibility of refrigeration oil with
refrigerants and the need for proper oil control function are two
restraints over the global refrigeration oil market. For ideal
functioning of compressor systems, refrigeration oil should be
compatible with the refrigerant in terms of viscosity, solubility,
miscibility, and chemical stability. The choice of refrigeration oil
depends on the design of the air-conditioner, chiller, refrigerator,
and its compressor. The process becomes complex due to compatibility
of the refrigeration oil with the refrigerant. Nevertheless,
transportation refrigeration systems and new product development are
expected to open new opportunities in the global refrigeration oil
market.
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Strict implementation of enforcement of labor laws
and expanding infrastructure size are expected to accentuate the
demand for power-based trowels. In addition, the launch of product
lines that cater to less-intensive production finishing jobs and
provides fuel economy and better finishing results is a notable
development expected to augur well for the growth of the market over
the forecast period.
The study presented here is based on a report by
Transparency Market Research (TMR) titled “Ride-on Trowel Market
(Steering Type - Mechanical and Hydraulic; Blade Diameter - 36”,
46”/48”, Above 48”; Fuel Type - Petrol, Diesel, and Electric) -
Global Industry Analysis, Size, Share, Growth, Trends and Forecast
2017 - 2025.”
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