Asia: Concrete Pump Market 2024

Concrete Pump Market Size in Asia

In 2021, the Asian concrete pump market increased by 53% to $X, rising for the third year in a row after two years of decline. The total consumption indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +6.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +101.0% against 2018 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Concrete Pump Production in Asia

In value terms, concrete pump production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production recorded a prominent increase. The level of production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Concrete Pump Exports

Exports in Asia

In 2021, approx. X units of concrete pumps were exported in Asia; picking up by 54% on the year before. In general, exports, however, recorded a noticeable setback. The pace of growth was the most pronounced in 2014 when exports increased by 56%. As a result, the exports reached the peak of X units. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, concrete pump exports surged to $X in 2021. The total export value increased at an average annual rate of +6.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X units) and South Korea (X units) dominates exports structure, together comprising 81% of total exports. Turkey (X units) took the next position in the ranking, followed by India (X units). All these countries together held approx. 15% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Turkey (with a CAGR of +21.9%), while the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X) remains the largest concrete pump supplier in Asia, comprising 53% of total exports. The second position in the ranking was held by Turkey ($X), with a 22% share of total exports. It was followed by China, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value in South Korea amounted to +9.0%. The remaining exporting countries recorded the following average annual rates of exports growth: Turkey (+25.7% per year) and China (-2.5% per year).

Export Prices by Country

The export price in Asia stood at $X per unit in 2021, waning by -8.5% against the previous year. Over the period under review, the export price, however, continues to indicate resilient growth. The pace of growth was the most pronounced in 2015 when the export price increased by 83% against the previous year. Over the period under review, the export prices attained the peak figure at $X per unit in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

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 Turkey ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+5.1%), while the other leaders experienced mixed trends in the export price figures.

Concrete Pump Imports

Imports in Asia

Concrete pump imports skyrocketed to X units in 2021, growing by 157% on the previous year. Over the period under review, imports saw prominent growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, concrete pump imports surged to $X in 2021. In general, imports, however, saw a pronounced downturn. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

Saudi Arabia prevails in imports structure, amounting to X units, which was approx. 84% of total imports in 2021. It was distantly followed by Singapore (X units), creating a 5.9% share of total imports. The Philippines (X units) followed a long way behind the leaders.

Saudi Arabia was also the fastest-growing in terms of the concrete pumps imports, with a CAGR of +38.3% from 2012 to 2021. At the same time, the Philippines (+8.5%) displayed positive paces of growth. By contrast, Singapore (-14.1%) illustrated a downward trend over the same period. Saudi Arabia (+74 p.p.) significantly strengthened its position in terms of the total imports, while Singapore saw its share reduced by -48.7% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) constitutes the largest market for imported concrete pumps in Asia, comprising 16% of total imports. The second position in the ranking was taken by the Philippines ($X), with a 3.7% share of total imports.

In Saudi Arabia, concrete pump imports declined by an average annual rate of -7.7% over the period from 2012-2021. In the other countries, the average annual rates were as follows: the Philippines (+4.2% per year) and Singapore (-14.7% per year).

Import Prices by Country

In 2021, the import price in Asia amounted to $X per unit, falling by -46.9% against the previous year. Over the period under review, the import price saw a abrupt curtailment. The most prominent rate of growth was recorded in 2015 when the import price increased by 20% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was the Philippines ($X per unit), while Saudi Arabia ($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 (-0.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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