Singapore: Concrete Mixer Market 2024

Concrete Mixer Market Size in Singapore

The Singaporean concrete mixer market surged to $X in 2021, jumping by 85% against the previous year. Over the period under review, consumption continues to indicate a notable expansion. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Concrete Mixer Production in Singapore

In value terms, concrete mixer production declined sharply to $X in 2021 estimated in export price. Over the period under review, production, however, posted a prominent expansion. The pace of growth appeared the most rapid in 2015 when the production volume increased by 275% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2021, production growth remained at a somewhat lower figure.

Concrete Mixer Exports

Exports from Singapore

For the third consecutive year, Singapore recorded decline in shipments abroad of concrete or mortar mixers, which decreased by -22.8% to X units in 2021. Over the period under review, exports showed a abrupt decline. The pace of growth appeared the most rapid in 2013 with an increase of 115% against the previous year. As a result, the exports attained the peak of X units. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, concrete mixer exports soared to $X in 2021. In general, exports continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2013 with an increase of 159%. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

The Philippines (X units), Indonesia (X units) and Thailand (X units) were the main destinations of concrete mixer exports from Singapore, together comprising 71% of total exports.

From 2012 to 2021, the biggest increases were recorded for the Philippines (with a CAGR of +33.2%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the Philippines ($X) remains the key foreign market for concrete or mortar mixers exports from Singapore, comprising 56% of total exports. The second position in the ranking was held by Australia ($X), with a 13% share of total exports. It was followed by Thailand, with a 4.9% share.

From 2012 to 2021, the average annual growth rate of value to the Philippines stood at +25.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (-21.9% per year) and Thailand (-18.1% per year).

Export Prices by Country

In 2021, the average concrete mixer export price amounted to $X per unit, increasing by 111% against the previous year. Overall, the export price enjoyed a strong increase. Over the period under review, the average export prices hit record highs at $X per unit in 2015; afterwards, it flattened through to 2021.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Australia ($X per unit), while the average price for exports to Georgia ($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 Australia (+12.9%), while the prices for the other major destinations experienced mixed trend patterns.

Concrete Mixer Imports

Imports into Singapore

In 2021, supplies from abroad of concrete or mortar mixers increased by 117% to X units for the first time since 2017, thus ending a three-year declining trend. Overall, imports, however, saw a abrupt downturn. The most prominent rate of growth was recorded in 2017 with an increase of 122% against the previous year. Over the period under review, imports attained the peak figure at X units in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, concrete mixer imports soared to $X in 2021. In general, imports, however, showed a abrupt contraction. The pace of growth was the most pronounced in 2017 when imports increased by 168% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Vietnam (X units), China (X units) and Italy (X units) were the main suppliers of concrete mixer imports to Singapore, together accounting for 69% of total imports. These countries were followed by the United Arab Emirates and Thailand, which together accounted for a further 15%.

From 2012 to 2021, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +118.2%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, China ($X), Vietnam ($X) and Italy ($X) constituted the largest concrete mixer suppliers to Singapore, with a combined 56% share of total imports. These countries were followed by the United Arab Emirates, Thailand and Indonesia, which together accounted for a further 18%.

The United Arab Emirates, with a CAGR of +170.5%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average concrete mixer import price amounted to $X per unit, falling by -27.9% against the previous year. Overall, the import price, however, saw perceptible growth. The pace of growth appeared the most rapid in 2018 when the average import price increased by 155% against the previous year. As a result, import price attained the peak level of $X per unit. From 2019 to 2021, the average import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Indonesia ($X per unit), while the price for Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+70.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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