GCC: Concrete Pump Market 2024

Concrete Pump Market Size in GCC

In 2021, the GCC concrete pump market increased by 244% to $X, rising for the third year in a row after three years of decline. Over the period under review, consumption saw a significant expansion. The level of consumption peaked in 2021 and is likely to see gradual growth in the immediate term.

Concrete Pump Production in GCC

In value terms, concrete pump production fell slightly to $X in 2021 estimated in export price. Overall, production recorded a mild slump. The most prominent rate of growth was recorded in 2017 with an increase of 13%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Concrete Pump Exports

Exports in GCC

In 2021, the amount of concrete pumps exported in GCC contracted sharply to X units, waning by -49.6% compared with the year before. Overall, exports continue to indicate a pronounced decrease. The growth pace was the most rapid in 2017 with an increase of 90%. As a result, the exports reached the peak of X units. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, concrete pump exports contracted sharply to $X in 2021. In general, exports saw a pronounced reduction. The growth pace was the most rapid in 2017 when exports increased by 130% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United Arab Emirates represented the key exporter of concrete pumps in GCC, with the volume of exports resulting at X units, which was approx. 59% of total exports in 2021. Saudi Arabia (X units) ranks second in terms of the total exports with a 26% share, followed by Kuwait (8.6%) and Oman (5.2%). Bahrain (X units) followed a long way behind the leaders.

Exports from the United Arab Emirates decreased at an average annual rate of -3.3% from 2012 to 2021. At the same time, Kuwait (+5.8%) and Oman (+4.6%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing exporter exported in GCC, with a CAGR of +5.8% from 2012-2021. Bahrain experienced a relatively flat trend pattern. By contrast, Saudi Arabia (-5.5%) illustrated a downward trend over the same period. While the share of Kuwait (+4.7 p.p.) and Oman (+2.6 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Saudi Arabia (-6.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest concrete pump supplying countries in GCC were the United Arab Emirates ($X), Saudi Arabia ($X) and Kuwait ($X), with a combined 91% share of total exports. Oman and Bahrain lagged somewhat behind, together comprising a further 9.3%.

Among the main exporting countries, Oman, with a CAGR of +11.2%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in GCC amounted to $X per unit, growing by 17% against the previous year. Over the period under review, the export price, however, continues to indicate a mild contraction. The most prominent rate of growth was recorded in 2017 an increase of 21%. Over the period under review, the export prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Kuwait ($X per unit), while the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+6.3%), while the other leaders experienced more modest paces of growth.

Concrete Pump Imports

Imports in GCC

In 2021, concrete pump imports in GCC surged to X units, jumping by 247% compared with 2020 figures. Over the period under review, imports enjoyed a significant increase. The most prominent rate of growth was recorded in 2019 with an increase of 263% against the previous year. Over the period under review, imports attained the maximum in 2021 and are likely to continue growth in years to come.

In value terms, concrete pump imports stood at $X in 2021. Overall, imports, however, saw a deep contraction. The most prominent rate of growth was recorded in 2019 when imports increased by 58%. The level of import peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Saudi Arabia (X units) represented the major importer of concrete pumps in GCC, comprising 99% of total import.

Saudi Arabia was also the fastest-growing in terms of the concrete pumps imports, with a CAGR of +38.3% from 2012 to 2021. Saudi Arabia (+24 p.p.) significantly strengthened its position in terms of the total imports, while 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 GCC.

In Saudi Arabia, concrete pump imports decreased by an average annual rate of -7.7% over the period from 2012-2021.

Import Prices by Country

In 2021, the import price in GCC amounted to $X per unit, shrinking by -69.4% against the previous year. In general, the import price recorded a sharp contraction. The pace of growth was the most pronounced in 2018 an increase of 68% against the previous year. The level of import peaked at $X per unit in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for Saudi Arabia.

From 2012 to 2021, the rate of growth in terms of prices for Saudi Arabia amounted to -33.3% per year.

Source: IndexBox Platform