Bucket Type Continuous-Action Elevator and Conveyor Market

The global market for bucket type continuous-action elevators and conveyors is poised for growth over the period 2022-2030. Consumption, production, imports, and exports data from various countries are examined in detail. South Africa, Bolivia, and China are among the top consumers, while China, India, and the United States lead in production. Thailand, the United States, and China are significant importers, while India, China, and Taiwan are top exporters. Prices and growth rates vary by country, with Germany and China standing out as key suppliers. Overall, the market is forecast to see positive growth trends in both volume and value terms.

Market Forecast

Driven by rising demand for bucket type continuous-action elevator and conveyor worldwide, the market is expected to start an upward consumption trend over the next eight years. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +12.8% for the period from 2022 to 2030, which is projected to bring the market volume to 945K units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +23.3% for the period from 2022 to 2030, which is projected to bring the market value to $17.7B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Bucket Type Continuous-Action Elevators And Conveyors For Goods Or Materials

In 2022, consumption of bucket type continuous-action elevators and conveyors for goods or materials was finally on the rise to reach 361K units after two years of decline. In general, consumption, however, continues to indicate a slight curtailment. As a result, consumption attained the peak volume of 4.5M units. From 2017 to 2022, the growth of the global consumption of remained at a lower figure.

The value of the market for bucket type continuous-action elevators and conveyors for goods or materials worldwide soared to $3.3B in 2022, jumping by 23% 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 enjoyed a remarkable increase. As a result, consumption attained the peak level of $85.2B. From 2017 to 2022, the growth of the global market remained at a somewhat lower figure.

Consumption By Country

South Africa (87K units) constituted the country with the largest volume of consumption of bucket type continuous-action elevators and conveyors for goods or materials, comprising approx. 24% of total volume. Moreover, consumption of bucket type continuous-action elevators and conveyors for goods or materials in South Africa exceeded the figures recorded by the second-largest consumer, Bolivia (33K units), threefold. The third position in this ranking was held by China (27K units), with a 7.5% share.

From 2012 to 2022, the average annual growth rate of volume in South Africa totaled -11.0%. In the other countries, the average annual rates were as follows: Bolivia (+81.5% per year) and China (+3.3% per year).

In value terms, the largest bucket type continuous-action elevator and conveyor markets worldwide were the United States ($612M), China ($392M) and Russia ($357M), together comprising 41% of the global market. Thailand, Japan, the Philippines, Germany, Brazil, India, Kuwait, Pakistan, South Africa and Bolivia lagged somewhat behind, together comprising a further 28%.

Kuwait, with a CAGR of +59.2%, saw the highest growth rate of market size among the main consuming countries over the period under review, while materials for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of bucket type continuous-action elevator and conveyor per capita consumption in 2022 were Bolivia (2,779 units per million persons), Kuwait (1,827 units per million persons) and South Africa (1,429 units per million persons).

From 2012 to 2022, the most notable rate of growth in terms of materials, amongst the leading consuming countries, was attained by Bolivia (with a CAGR of +78.6%), while materials for the other global leaders experienced more modest paces of growth.

Production

World Production of Bucket Type Continuous-Action Elevators And Conveyors For Goods Or Materials

After two years of growth, production of bucket type continuous-action elevators and conveyors for goods or materials decreased by -1.9% to 230K units in 2022. Overall, the total production indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +5.9% 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 +21.8% against 2019 indices. The pace of growth appeared the most rapid in 2016 when the production volume increased by 47% against the previous year. Global production peaked at 235K units in 2021, and then reduced slightly in the following year.

In value terms, production of bucket type continuous-action elevators and conveyors for goods or materials expanded slightly to $2.7B in 2022 estimated in export price. In general, the total production indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +3.2% 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 +5.7% against 2019 indices. The pace of growth appeared the most rapid in 2016 when the production volume increased by 43% against the previous year. Over the period under review, global production of hit record highs at $3B in 2017; however, from 2018 to 2022, production failed to regain momentum.

Production By Country

The countries with the highest volumes of production in 2022 were China (50K units), India (39K units) and the United States (16K units), with a combined 45% share of global production. Germany, Brazil, Japan, Pakistan, Turkey, Taiwan (Chinese), Italy, the UK, Russia and Mexico lagged somewhat behind, together comprising a further 28%.

From 2012 to 2022, the most notable rate of growth in terms of materials, amongst the main producing countries, was attained by Turkey (with a CAGR of +29.6%), while materials for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Bucket Type Continuous-Action Elevators And Conveyors For Goods Or Materials

In 2022, purchases abroad of bucket type continuous-action elevators and conveyors for goods or materials was finally on the rise to reach 209K units after two years of decline. Over the period under review, imports, however, continue to indicate a pronounced decline. The most prominent rate of growth was recorded in 2016 with an increase of 4,029%. As a result, imports attained the peak of 4.4M units. From 2017 to 2022, the growth of global imports of remained at a lower figure.

In value terms, imports of bucket type continuous-action elevators and conveyors for goods or materials expanded significantly to $379M in 2022. In general, imports, however, showed a mild curtailment. The most prominent rate of growth was recorded in 2019 when imports increased by 28% against the previous year. Global imports peaked at $551M in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports By Country

South Africa was the key importer of bucket type continuous-action elevators and conveyors for goods or materials in the world, with the volume of imports recording 87K units, which was approx. 42% of total imports in 2022. Bolivia (33K units) ranks second in terms of the total imports with a 16% share, followed by the Philippines (11%), Thailand (7.3%) and the United States (4.6%). Kuwait (7.9K units) and Belarus (5.9K units) held a minor share of total imports.

Imports into South Africa decreased at an average annual rate of -11.0% from 2012 to 2022. At the same time, Bolivia (+81.5%), Kuwait (+60.4%), the Philippines (+52.7%), Thailand (+32.3%), the United States (+23.2%) and Belarus (+21.1%) displayed positive paces of growth. Moreover, Bolivia emerged as the fastest-growing importer imported in the world, with a CAGR of +81.5% from 2012-2022. While the share of Bolivia (+16 p.p.), the Philippines (+11 p.p.), Thailand (+7 p.p.), the United States (+4.2 p.p.), Kuwait (+3.8 p.p.) and Belarus (+2.5 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of South Africa (-50.5 p.p.) displayed negative dynamics.

In value terms, Thailand ($22M), the United States ($21M) and the Philippines ($4.8M) appeared to be the countries with the highest levels of imports in 2022, together comprising 13% of global imports. Kuwait, Bolivia, South Africa and Belarus lagged somewhat behind, together comprising a further 1.6%.

Among the main importing countries, Kuwait, with a CAGR of +12.4%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average import price for bucket type continuous-action elevators and conveyors for goods or materials stood at $1,816 per unit in 2022, dropping by -43.2% against the previous year. Overall, the import price, however, continues to indicate a notable expansion. The most prominent rate of growth was recorded in 2017 an increase of 1,365%. Over the period under review, average import prices reached the maximum at $4,051 per unit in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($2,166 per unit), while South Africa ($15 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (-0.3%), while the other global leaders experienced a decline in the import price figures.

Exports

World Exports of Bucket Type Continuous-Action Elevators And Conveyors For Goods Or Materials

In 2022, overseas shipments of bucket type continuous-action elevators and conveyors for goods or materials decreased by -9.6% to 78K units for the first time since 2019, thus ending a two-year rising trend. Overall, exports, however, recorded a resilient increase. The growth pace was the most rapid in 2016 with an increase of 140% against the previous year. As a result, the exports attained the peak of 91K units. From 2017 to 2022, the growth of the global exports of failed to regain momentum.

In value terms, exports of bucket type continuous-action elevators and conveyors for goods or materials surged to $380M in 2022. Over the period under review, exports showed a mild descent. The pace of growth appeared the most rapid in 2021 with an increase of 22%. Over the period under review, the global exports of attained the maximum at $440M in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports By Country

India (30K units) and China (25K units) dominates materials structure, together generating 71% of total exports. It was distantly followed by Taiwan (Chinese) (6.1K units), comprising a 7.8% share of total exports. The following exporters - Italy (2.3K units), Germany (2K units), Australia (1.9K units), the Netherlands (1.4K units), Canada (1.3K units) and Singapore (1.2K units) - together made up 13% of total exports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +42.8%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, China ($124M) remains the largest bucket type continuous-action elevator and conveyor supplier worldwide, comprising 33% of global exports. The second position in the ranking was held by Germany ($45M), with a 12% share of global exports. It was followed by Italy, with an 11% share.

From 2012 to 2022, the average annual growth rate of value in China stood at -1.8%. The remaining exporting countries recorded the following average annual rates of exports growth: Germany (-1.7% per year) and Italy (+10.0% per year).

Export Prices By Country

The average export price for bucket type continuous-action elevators and conveyors for goods or materials stood at $4,853 per unit in 2022, increasing by 32% against the previous year. Overall, the export price, however, recorded a abrupt contraction. The growth pace was the most rapid in 2018 when the average export price increased by 107%. Over the period under review, the average export prices hit record highs at $14,133 per unit in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Germany ($22,091 per unit), while India ($133 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+7.4%), while the other global leaders experienced mixed trends in the export price figures.

Source: IndexBox Market Intelligence Platform