ASEAN: Concrete Pump Market 2024

Concrete Pump Market Size in ASEAN

The ASEAN concrete pump market rose slightly to $X in 2021, surging by 2.1% against the previous year. The total consumption indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +2.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +9.0% against 2018 indices. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Concrete Pump Production in ASEAN

In value terms, concrete pump production reached $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.2% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 when the production volume increased by 22%. As a result, production reached the peak level of $X. From 2017 to 2021, production growth remained at a lower figure.

Concrete Pump Exports

Exports in ASEAN

In 2021, concrete pump exports in ASEAN shrank remarkably to X units, which is down by -77.2% on the previous year. Overall, exports recorded a dramatic shrinkage. The most prominent rate of growth was recorded in 2014 when exports increased by 102%. As a result, the exports reached the peak of X units. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, concrete pump exports dropped markedly to $X in 2021. In general, exports faced a abrupt downturn. The most prominent rate of growth was recorded in 2014 with an increase of 121%. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Singapore prevails in exports structure, amounting to X units, which was near 77% of total exports in 2021. Myanmar (X units) held a 7.7% share (based on physical terms) of total exports, which put it in second place, followed by Malaysia (4.7%). The following exporters - Vietnam (X units), Thailand (X units) and Indonesia (X units) - together made up 9.5% of total exports.

From 2012 to 2021, average annual rates of growth with regard to concrete pump exports from Singapore stood at -36.4%. At the same time, Myanmar (+23.1%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +23.1% from 2012-2021. Thailand experienced a relatively flat trend pattern. By contrast, Malaysia (-4.4%), Indonesia (-7.4%) and Vietnam (-13.9%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Myanmar, Malaysia, Vietnam, Thailand and Indonesia increased by +7.7, +4.6, +3.8, +2.9 and +2.3 percentage points, respectively.

In value terms, Singapore ($X) remains the largest concrete pump supplier in ASEAN, comprising 64% of total exports. The second position in the ranking was held by Malaysia ($X), with a 10% share of total exports. It was followed by Myanmar, with a 9.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Singapore stood at -17.4%. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (-11.3% per year) and Myanmar (+40.6% per year).

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per unit, jumping by 53% against the previous year. Over the period under review, the export price recorded significant growth. The growth pace was the most rapid in 2013 when the export price increased by 98%. Over the period under review, the export prices reached the maximum in 2021 and is likely to see gradual growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Thailand ($X per unit), while Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+29.7%), while the other leaders experienced more modest paces of growth.

Concrete Pump Imports

Imports in ASEAN

Concrete pump imports declined sharply to X units in 2021, dropping by -16.7% compared with 2020. Over the period under review, imports recorded a abrupt slump. The most prominent rate of growth was recorded in 2017 when imports increased by 44% against the previous year. Over the period under review, imports hit record highs at X units in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, concrete pump imports fell to $X in 2021. In general, imports recorded a deep setback. The most prominent rate of growth was recorded in 2013 when imports increased by 91%. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Singapore represented the major importer of concrete pumps in ASEAN, with the volume of imports accounting for X units, which was near 67% of total imports in 2021. It was distantly followed by the Philippines (X units), comprising a 22% share of total imports. Thailand (X units) and Malaysia (X units) took a little share of total imports.

From 2012 to 2021, average annual rates of growth with regard to concrete pump imports into Singapore stood at -14.1%. At the same time, the Philippines (+8.5%) and Thailand (+3.6%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +8.5% from 2012-2021. By contrast, Malaysia (-22.4%) illustrated a downward trend over the same period. The Philippines (+19 p.p.) and Thailand (+3.1 p.p.) significantly strengthened its position in terms of the total imports, while Malaysia and Singapore saw its share reduced by -6.6% and -16.6% from 2012 to 2021, respectively.

In value terms, the Philippines ($X), Thailand ($X) and Malaysia ($X) appeared to be the countries with the highest levels of imports in 2021, together comprising 57% of total imports.

The Philippines, with a CAGR of +4.2%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in ASEAN stood at $X per unit in 2021, growing by 14% against the previous year. Import price indicated a buoyant expansion from 2012 to 2021: its price increased at an average annual rate of +5.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, concrete pump import price decreased by -31.0% against 2016 indices. The most prominent rate of growth was recorded in 2013 when the import price increased by 53% against the previous year. The level of import peaked at $X per unit in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Malaysia ($X per unit), while Singapore ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+19.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform