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.
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.
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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.