Singapore: Concrete Pump Market 2024

Concrete Pump Market Size in Singapore

The Singaporean concrete pump market rose modestly to $X in 2021, with an increase of 3.8% against the previous year. Over the period under review, consumption showed a perceptible increase. Concrete pump consumption peaked at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Concrete Pump Production in Singapore

In value terms, concrete pump production expanded modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.0% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 when the production volume increased by 22% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2021, production growth remained at a lower figure.

Concrete Pump Exports

Exports from Singapore

For the third consecutive year, Singapore recorded decline in overseas shipments of concrete pumps, which decreased by -80.6% to X units in 2021. In general, exports recorded a sharp slump. The most prominent rate of growth was recorded in 2014 when exports increased by 103% against the previous year. As a result, the exports reached the peak of X units. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, concrete pump exports fell significantly to $X in 2021. Overall, exports continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2014 with an increase of 126%. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Indonesia (X units), China (X units) and Malaysia (X units) were the main destinations of concrete pump exports from Singapore, together comprising 74% of total exports. These countries were followed by Thailand, Taiwan (Chinese), Vietnam, Egypt, the UK and the United States, which together accounted for a further 19%.

From 2012 to 2021, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +24.1%), while shipments for the other leaders experienced a decline.

In value terms, Thailand ($X), China ($X) and Malaysia ($X) constituted the largest markets for concrete pump exported from Singapore worldwide, with a combined 77% share of total exports. Indonesia, Egypt, Vietnam, Taiwan (Chinese), the UK, the United States and the United Arab Emirates lagged somewhat behind, together comprising a further 14%.

Egypt, with a CAGR of +53.4%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average concrete pump export price amounted to $X per unit, jumping by 78% against the previous year. Over the period under review, the export price recorded significant growth. The growth pace was the most rapid in 2013 when the average export price increased by 123% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is likely to continue growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Thailand ($X per unit), while the average price for exports to Indonesia ($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 Thailand (+45.2%), while the prices for the other major destinations experienced more modest paces of growth.

Concrete Pump Imports

Imports into Singapore

In 2021, approx. X units of concrete pumps were imported into Singapore; declining by -12.2% against 2020 figures. In general, imports showed a deep setback. The growth pace was the most rapid in 2017 with an increase of 89% against the previous year. Over the period under review, imports reached the maximum at X units in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, concrete pump imports stood at $X in 2021. Overall, imports recorded a abrupt downturn. The pace of growth appeared the most rapid in 2015 when imports increased by 75% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest concrete pump supplier to Singapore, with a 73% share of total imports. Moreover, concrete pump imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), more than tenfold. Italy (X units) ranked third in terms of total imports with a 4.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled -13.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-2.2% per year) and Italy (-12.8% per year).

In value terms, the largest concrete pump suppliers to Singapore were China ($X), the United States ($X) and Japan ($X), with a combined 55% share of total imports. Italy, Malaysia, Thailand and Sweden lagged somewhat behind, together accounting for a further 16%.

Among the main suppliers, Thailand, with a CAGR of +72.4%, 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 mixed trend patterns.

Import Prices by Country

In 2021, the average concrete pump import price amounted to $X per unit, growing by 18% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the average import price increased by 161% against the previous year. As a result, import price attained the peak level of $X per unit. From 2016 to 2021, the average import prices remained 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 Japan ($X per unit), while the price for Sweden ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+13.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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