Lack of local manufacturing capabilities in majority of the African countries is driving international players from China, India, Turkey, Korea and European countries to capture Africa’s concrete batching plants market with their competitive price offerings, enhanced quality and strong distribution network.
According to 6Wresearch, Africa Concrete Batching Plant market is projected to reach $35.6 Million by 2023. Batching plant market is anticipated to register substantial growth during the forecast period on account of increasing demand to bridge the infrastructural gap in the residential sector, power utilities and manufacturing industries. However, slump in average selling price as a result of intense competition among companies has affected the total revenue generation.
According to Ravi Bhandari, Assistant Manager, 6Wresearch, "The Eastern region countries such as Kenya, Tanzania and Ethiopia are expected to demonstrate highest growth during the forecast period due to development in tourism, infrastructural and industrial sectors. According to IMF, it is estimated that East African countries would grow at a rate of 5% in 2017.
"Public Transportation and Commercial are other key sectors that would boost the demand for concrete batching plant in Africa owing to increase in residential and retail sectors construction in the continent" Ravi further added.
According to Anuj Sharma, Research Associate, Research and Consulting, 6Wresearch, "Medium capacity concrete batching plant (60 CuM/Hr to 160 CuM/Hr) captured majority of the revenue share in 2016 due to rising demand by construction and industrial sector in countries such as South Africa, Egypt, Kenya, Nigeria and Ethiopia. Burgeoning urban population and growth of middle income countries are pushing the infrastructural development in the region."
"Development of infrastructure in tourism and renewable energy sectors are also expected to drive the market of batching plant over the next six years on the back of diversification of economies and increasing need of power in Africa region."
Some of the major companies in Africa Concrete Batching Plant market include- Liebherr, CIFA S.P.A, Sany Group, Elkon and Meka.
"Africa Concrete Batching Plant Market (2017-2023)" provides in-depth analysis with 92 figures and 12 tables covered in 197 pages. The report estimates and forecast the overall Africa Concrete Batching Plant market by revenues, volume, capacity and verticals such as Infrastructure, Buildings, Retail, Commercial and Renewable energy. The report also gives insights on competitive landscape, companies benchmarking, company profiles, market drivers and restraints.