Concrete Pump Market

The global concrete pump market is projected to grow over the next eight years, with forecasted increases in consumption, production, imports, and exports. Consumption peaked in 2022 at 829K units but saw a decline in subsequent years. Saudi Arabia led in both consumption and imports, while the UK and Australia were prominent in production. Overall, the market is expected to expand, driven by factors such as increasing demand and favorable growth rates in key countries.

Market Forecast

Driven by increasing demand for concrete pumps worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +3.1% for the period from 2022 to 2030, which is projected to bring the market volume to 878K units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.0% for the period from 2022 to 2030, which is projected to bring the market value to $10.2B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Concrete Pumps

In 2022, after four years of growth, there was significant decline in consumption of concrete pumps, when its volume decreased by -17% to 687K units. In general, consumption, however, enjoyed buoyant growth. As a result, consumption reached the peak volume of 829K units, and then fell notably in the following year.

The global concrete pump market value contracted markedly to $7.5B in 2022, with a decrease of -23.4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, posted prominent growth. As a result, consumption reached the peak level of $9.8B, and then reduced notably in the following year.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were Saudi Arabia (284K units), the UK (144K units) and Italy (78K units), with a combined 74% share of global consumption.

From 2012 to 2022, the biggest increases were recorded for Saudi Arabia (with a CAGR of +48.4%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($4.5B) led the market, alone. The second position in the ranking was taken by Australia ($463M). It was followed by the Netherlands.

In Saudi Arabia, the concrete pump market increased at an average annual rate of +48.1% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of market growth: Australia (+8.6% per year) and the Netherlands (+1.7% per year).

In 2022, the highest levels of concrete pump per capita consumption was registered in Saudi Arabia (7.9 units per 1000 persons), followed by Singapore (3.5 units per 1000 persons), Australia (2.6 units per 1000 persons) and the UK (2.1 units per 1000 persons), while the world average per capita consumption of concrete pump was estimated at 0.1 units per 1000 persons.

In Saudi Arabia, concrete pump per capita consumption increased at an average annual rate of +45.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Singapore (+21.1% per year) and Australia (+7.0% per year).

Production

World Production of Concrete Pumps

In 2022, production of concrete pumps was finally on the rise to reach 362K units after two years of decline. Over the period under review, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 0.9%. As a result, production reached the peak volume of 369K units. From 2020 to 2022, global production growth remained at a lower figure.

In value terms, concrete pump production fell to $3.2B in 2022 estimated in export price. In general, the total production indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +10.3% against 2020 indices. The growth pace was the most rapid in 2021 when the production volume increased by 20%. Over the period under review, global production attained the peak level at $4.4B in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were the UK (128K units), Italy (80K units) and Australia (68K units), together comprising 76% of global production.

From 2012 to 2022, the biggest increases were recorded for Australia (with a CAGR of +1.2%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Concrete Pumps

After four years of growth, overseas purchases of concrete pumps decreased by -30.9% to 344K units in 2022. In general, imports, however, showed buoyant growth. The growth pace was the most rapid in 2016 with an increase of 287% against the previous year. Global imports peaked at 498K units in 2021, and then declined remarkably in the following year.

In value terms, concrete pump imports rose notably to $604M in 2022. The total import value increased at an average annual rate of +1.9% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth was the most pronounced in 2021 with an increase of 29% against the previous year. Over the period under review, global imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Imports By Country

Saudi Arabia prevails in imports structure, reaching 284K units, which was approx. 82% of total imports in 2022. It was distantly followed by the UK (18K units), achieving a 5.2% share of total imports. Singapore (11K units) took a minor share of total imports.

Saudi Arabia was also the fastest-growing in terms of the concrete pumps imports, with a CAGR of +48.4% from 2012 to 2022. At the same time, the UK (+20.1%) and Singapore (+2.1%) displayed positive paces of growth. Saudi Arabia (+74 p.p.) significantly strengthened its position in terms of the global imports, while Singapore saw its share reduced by -10.9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($24M) constitutes the largest market for imported concrete pumps worldwide, comprising 4% of global imports. The second position in the ranking was taken by the UK ($12M), with a 1.9% share of global imports.

In Saudi Arabia, concrete pump imports shrank by an average annual rate of -7.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the UK (+11.7% per year) and Singapore (-2.1% per year).

Import Prices By Country

In 2022, the average concrete pump import price amounted to $1,755 per unit, growing by 56% against the previous year. Over the period under review, the import price, however, continues to indicate a deep setback. The growth pace was the most rapid in 2017 an increase of 291% against the previous year. Global import price peaked at $13,280 per unit in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Singapore ($1,017 per unit), while Saudi Arabia ($85 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (-4.1%), while the other global leaders experienced a decline in the import price figures.

Exports

World Exports of Concrete Pumps

After two years of growth, overseas shipments of concrete pumps decreased by -39.3% to 19K units in 2022. Over the period under review, exports faced a deep reduction. The most prominent rate of growth was recorded in 2016 when exports increased by 37% against the previous year. The global exports peaked at 86K units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, concrete pump exports totaled $499M in 2022. Overall, exports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 28%. Over the period under review, the global exports attained the maximum at $577M in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports By Country

China (4.8K units), Italy (3.4K units) and South Korea (2.3K units) represented roughly 56% of total exports in 2022. It was distantly followed by the UK (1.3K units), comprising a 7% share of total exports. India (802 units), Turkey (795 units), Germany (702 units), the Netherlands (565 units), South Africa (539 units), the United States (473 units), Belgium (339 units) and Belarus (286 units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for South Africa (with a CAGR of +36.5%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, South Korea ($132M), Germany ($93M) and Turkey ($68M) constituted the countries with the highest levels of exports in 2022, with a combined 59% share of global exports.

Turkey, with a CAGR of +24.7%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average concrete pump export price stood at $26,678 per unit in 2022, with an increase of 67% against the previous year. Overall, the export price continues to indicate a resilient increase. The most prominent rate of growth was recorded in 2015 an increase of 144% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Germany ($133,097 per unit), while South Africa ($3,003 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+22.7%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform