Ready-Mix concrete market growing to exhibit a remarkable CAGR of 8.50% by 2029
Global Ready-Mix Concrete Market was valued at USD 181.14 billion in 2021 and is expected to reach USD 1427.31 billion by 2029, registering a CAGR of 8.50% during the forecast period of 2022-2029. The increasing investments in the construction industry extend profitable opportunities to the market players in the forecast period of 2022 to 2029.
North America dominates the market in terms of market share and market revenue, and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth over this region is attributed to the increase in new infrastructure projects within the region.
We know that the recent outbreak of coronavirus had a negative impact on the ready-mix concrete market. The severe disruptions in various manufacturing, as well as the supply chain operations due to the various precautionary lockdowns, hampered the market. During the COVID-19 outbreak’s lockdown, the various end users of the ready-mix concrete market were impacted. Construction activity had slowed around the world, resulting in a considerable reduction in the demand for ready-mix concrete.
On the brighter side, the increasing investments in the construction industry extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, due to its great convenience, improved quality, and ease of use, the product is frequently utilized as a substitute for unusual concrete, further expanding the future growth of the ready-mix concrete market.
Managing the Fleet
To deliver ready-mixed concrete profitably, communications between dispatchers, drivers, and customers are crucial. Along with time constraints of a perishable product comes the need to balance customer orders with available trucks.
The vehicle location system’s versatility has a major impact on coordinating business. That’s because the system integrates a real-time, enhanced Global Positioning System (GPS) vehicle tracking function with an onboard data recorder, wireless, real-time, and two-way in-cab communications terminals. All vehicle location and status information, as well as fleet management reports, are delivered via the Internet.
The status and location of each truck needs to be as accurate as the driver’s input. There was constant chatter between dispatchers trying to confirm or get updates on locations and the status of each truck. This results in a much quieter, much more efficient dispatch department.