What Is the Concrete Pump Price
What’s the Global Market Condition for the Concrete Pump Industry?
According to recent studies, the global concrete pump market is set to reach USD 5.9 billion between 2019 and 2025. With the increasing number of development projects worldwide, especially during recovery from the COVID-19 pandemic, the application of concrete pumps in the construction industry is also predicted to increase drastically.
How much does it cost to invest in a concrete pump?
Although the demand for concrete pumps has become higher and higher due to the causes mentioned earlier, the price for concrete pumps has remained between $2000 to $20,000, depending on its specifications. Based on this price range, the cheapest pumps are usually used small portable trailer pumps. Even though this type of pump is affordable and great for low-budget companies, the use for this pump is minimal such as residential and small renovation projects. There are also concrete pump trucks with mixers that you can use to feed raw materials and create your concrete mix on site.
Boom or truck-mounted concrete pumps, however, have always been and always will be in the higher price range even if they are already used units. Even if you are to sell your used procured boom truck, of course, the value of it will deteriorate. But during its time under your ownership, you will surely be able to regain what you invested if you consider renting it out.
How much does it cost to rent a concrete pump?
The monetary investment for concrete pumps is indeed quite hefty. But if this is the case, why is it that most contractors still prefer buying their own than settling on rentals? First of all, rentals are usually charged two ways, depending on the client’s preferred payment method.
The first one is based on hourly rates, and the second is per cubic meter rates. The average rental rate per hour is usually around $200. For bigger pump trucks, rates could go up to about $800 a day (for around 4 hours of use). If you were to opt for the per cubic meter option, rental companies usually have a minimum amount of concrete to profit from the task. Prior to the schedule, there will also be a calculation by the rental company for them to know which machine is perfect for the time and amount of concrete needed for the job.
Aside from these base rates, additional costs are also added to your bill once you exceed the allotted rental time. In some cases, rental companies charge extra for setting up the concrete pump as well. If you do not have your concrete pump operator, rental companies also provide this survey, but yet again, under additional costs. Because of these reasons, it is crucial to research as much as you can about concrete pump rentals in your area to make sure that you are getting your money’s worth and not being overcharged for services that the rental company did not provide to you.
Buying vs Renting: The Verdict
Given that the needed monetary investment for concrete pumps is quite hefty, there is still no debate against the fact that having your own concrete pump still offers several advantages in terms of efficiency and productivity. Having your own gives you a more flexible schedule by eliminating waiting times from rental companies. Also, the presence of this kind of equipment in your project sites is very appealing to current and potential clients, which reflects your commitment to your business by investing in heavy machinery (read more about this topic here).
If you think buying your own equipment is more economical for your company, visit https://www.junhuamachinery.com to browse through various world-class quality concreting machineries such as Concrete Pumps, Stationary Batching Plants, and Mixer Trucks.