India: Concrete Pump Market 2024

Concrete Pump Market Size in India

The Indian concrete pump market reduced to $X in 2021, shrinking by -8.2% against the previous year. Overall, consumption showed a slight contraction. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Concrete Pump Production in India

In value terms, concrete pump production declined to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.1% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2016 with an increase of 3.7% against the previous year. Over the period under review, production reached the peak level at $X in 2020, and then dropped slightly in the following year.

Concrete Pump Exports

Exports from India

In 2021, after two years of decline, there was significant growth in shipments abroad of concrete pumps, when their volume increased by 228% to X units. Over the period under review, exports posted a significant increase. The pace of growth was the most pronounced in 2013 when exports increased by 349%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, concrete pump exports surged to $X in 2021. In general, total exports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +9.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -20.3% against 2018 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 103% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Nepal (X units), Bangladesh (X units) and Liberia (X units) were the main destinations of concrete pump exports from India, together comprising 30% of total exports. Kenya, Russia, Saudi Arabia, Bhutan, the Philippines, Nigeria and Indonesia lagged somewhat behind, together comprising a further 12%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Saudi Arabia (with a CAGR of +62.5%), while the other leaders experienced more modest paces of growth.

In value terms, Bangladesh ($X) remains the key foreign market for concrete pumps exports from India, comprising 19% of total exports. The second position in the ranking was taken by the Philippines ($X), with a 9.2% share of total exports. It was followed by Nepal, with a 7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Bangladesh amounted to +13.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (+33.6% per year) and Nepal (+43.5% per year).

Export Prices by Country

The average concrete pump export price stood at $X per unit in 2021, waning by -55.7% against the previous year. Over the period under review, the export price continues to indicate a abrupt descent. The pace of growth was the most pronounced in 2016 when the average export price increased by 56%. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was the Philippines ($X per unit), while the average price for exports to Nepal ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+5.9%), while the prices for the other major destinations experienced more modest paces of growth.

Concrete Pump Imports

Imports into India

In 2021, supplies from 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, imports, however, saw a noticeable downturn. The most prominent rate of growth was recorded in 2018 when imports increased by 416% against the previous year. As a result, imports reached the peak of X units. From 2019 to 2021, the growth of imports remained at a lower figure.

In value terms, concrete pump imports skyrocketed to $X in 2021. Overall, imports, however, continue to indicate a relatively flat trend pattern. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Italy (X units) constituted the largest supplier of concrete pump to India, accounting for a 62% share of total imports. Moreover, concrete pump imports from Italy exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X units), sixfold. The third position in this ranking was held by China (X units), with a 10% share.

From 2012 to 2021, the average annual growth rate of volume from Italy stood at +66.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+90.0% per year) and China (-19.6% per year).

In value terms, the largest concrete pump suppliers to India were Italy ($X), China ($X) and Spain ($X), with a combined 66% share of total imports. These countries were followed by Germany, Australia, Hong Kong SAR, Israel, South Korea and the Netherlands, which together accounted for a further 1.9%.

In terms of the main suppliers, Hong Kong SAR, with a CAGR of +48.1%, saw the highest rates of growth with regard to 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 average concrete pump import price amounted to $X per unit, surging by 24% against the previous year. Over the period under review, the import price posted noticeable growth. The most prominent rate of growth was recorded in 2015 when the average import price increased by 201%. Over the period under review, average import prices hit record highs at $X per unit in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Spain ($X per unit), while the price for Israel ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+29.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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