Asia-Pacific: Concrete Pump Market 2024

Concrete Pump Market Size in Asia-Pacific

In 2021, after two years of growth, there was significant decline in the Asia-Pacific concrete pump market, when its value decreased by -13.8% to $X. The market value increased at an average annual rate of +3.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2020, and then fell in the following year.

Concrete Pump Production in Asia-Pacific

In value terms, concrete pump production shrank slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.6% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2020 with an increase of 8.6%. Over the period under review, production reached the peak level at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Concrete Pump Exports

Exports in Asia-Pacific

In 2021, shipments abroad of concrete pumps was finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports, however, showed a abrupt decline. The volume of export peaked at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, concrete pump exports skyrocketed to $X in 2021. Total exports indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

China (X units) and South Korea (X units) were the major exporters of concrete pumps in 2021, finishing at approx. 41% and 33% of total exports, respectively. Australia (X units) took a 17% share (based on physical terms) of total exports, which put it in second place, followed by India (6.7%).

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +21.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X) remains the largest concrete pump supplier in Asia-Pacific, comprising 68% of total exports. The second position in the ranking was taken by China ($X), with a 19% share of total exports. It was followed by India, with an 8.7% share.

In South Korea, concrete pump exports expanded at an average annual rate of +9.0% over the period from 2012-2021. In the other countries, the average annual rates were as follows: China (-2.5% per year) and India (+9.0% per year).

Export Prices by Country

In 2021, the export price in Asia-Pacific amounted to $X per unit, which is down by -6.7% against the previous year. Over the period under review, the export price, however, enjoyed a significant expansion. The pace of growth was the most pronounced in 2013 an increase of 142% against the previous year. The level of export peaked at $X per unit in 2020, and then reduced in the following year.

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 South Korea ($X per unit), while Australia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+32.5%), while the other leaders experienced mixed trends in the export price figures.

Concrete Pump Imports

Imports in Asia-Pacific

After three years of decline, purchases abroad of concrete pumps increased by 3.1% to X units in 2021. Overall, imports, however, continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2013 when imports increased by 43% against the previous year. The volume of import peaked at X units in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, concrete pump imports surged to $X in 2021. In general, imports saw a relatively flat trend pattern. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

Singapore was the main importing country with an import of about X units, which resulted at 40% of total imports. The Philippines (X units) took a 13% share (based on physical terms) of total imports, which put it in second place, followed by Australia (11%) and India (9%). The following importers - China (X units), Pakistan (X units), Thailand (X units), New Zealand (X units), Malaysia (X units), Japan (X units) and Taiwan (Chinese) (X units) - together made up 18% of total imports.

Imports into Singapore decreased at an average annual rate of -14.1% from 2012 to 2021. At the same time, New Zealand (+8.6%), the Philippines (+8.5%), Australia (+8.4%), Taiwan (Chinese) (+5.6%), Thailand (+3.6%) and Japan (+2.3%) displayed positive paces of growth. Moreover, New Zealand emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +8.6% from 2012-2021. By contrast, China (-1.5%), India (-3.4%), Pakistan (-3.6%) and Malaysia (-22.4%) illustrated a downward trend over the same period. The Philippines (+11 p.p.), Australia (+8.6 p.p.), India (+3.8 p.p.), China (+2.2 p.p.), Thailand (+1.7 p.p.), New Zealand (+1.6 p.p.) and Pakistan (+1.5 p.p.) significantly strengthened its position in terms of the total imports, while Malaysia and Singapore saw its share reduced by -6% and -27% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest concrete pump importing markets in Asia-Pacific were Australia ($X), China ($X) and India ($X), together comprising 47% of total imports. The Philippines, Japan, Taiwan (Chinese), New Zealand, Thailand, Malaysia, Singapore and Pakistan lagged somewhat behind, together comprising a further 33%.

In terms of the main importing countries, New Zealand, with a CAGR of +22.5%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Asia-Pacific amounted to $X per unit, picking up by 45% against the previous year. In general, the import price saw a strong expansion. The most prominent rate of growth was recorded in 2015 an increase of 51% against the previous year. Over the period under review, import prices hit record highs in 2021 and is likely to see gradual growth in years to come.

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 China ($X per unit), while Singapore ($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 more modest paces of growth.

Source: IndexBox Platform

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