Concrete-Mixer Lorry Market

The article discusses the rising demand for concrete-mixer lorries worldwide, with forecasts indicating an upward trend in market consumption. It provides detailed insights on market performance, consumption patterns, production trends, imports, and exports, highlighting key countries and growth rates. The data covers market volume, value, and price trends, offering a comprehensive overview of the global concrete-mixer lorry market.

Market Forecast

Driven by rising demand for concrete-mixer lorry 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 +3.3% for the period from 2022 to 2030, which is projected to bring the market volume to 19K units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +5.6% for the period from 2022 to 2030, which is projected to bring the market value to $2.3B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Concrete-Mixer Lorries

For the fourth consecutive year, the global market recorded decline in consumption of concrete-mixer lorries, which decreased by -12.2% to 14K units in 2022. Over the period under review, consumption saw a perceptible reduction. The pace of growth was the most pronounced in 2016 with an increase of 9.7% against the previous year. Over the period under review, global consumption hit record highs at 20K units in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

The global concrete-mixer lorry market value reduced to $1.5B in 2022, which is down by -10.2% 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). In general, consumption recorded a noticeable shrinkage. The most prominent rate of growth was recorded in 2016 with an increase of 8.9% against the previous year. Over the period under review, the global market attained the maximum level at $2.2B in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were Germany (1.3K units), Japan (1K units) and Spain (816 units), with a combined 22% share of global consumption.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +47.3%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest concrete-mixer lorry markets worldwide were Germany ($211M), the United States ($127M) and Russia ($74M), together accounting for 28% of the global market. Japan, Vietnam, Turkey, Spain, South Korea, Mexico, China, the Philippines, Italy and Saudi Arabia lagged somewhat behind, together accounting for a further 27%.

Among the main consuming countries, Spain, with a CAGR of +43.7%, saw the highest growth rate of market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of concrete-mixer lorry per capita consumption in 2022 were Spain (17 units per million persons), Germany (16 units per million persons) and South Korea (11 units per million persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by Spain (with a CAGR of +47.1%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Concrete-Mixer Lorries

In 2022, the amount of concrete-mixer lorries produced worldwide was estimated at 21K units, almost unchanged from the year before. Over the period under review, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 2.4% against the previous year. Global production peaked in 2022 and is expected to retain growth in years to come.

In value terms, concrete-mixer lorry production reduced to $1.8B in 2022 estimated in export price. Overall, production, however, recorded a slight decline. The pace of growth appeared the most rapid in 2021 with an increase of 13%. Over the period under review, global production reached the maximum level at $2.3B in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Production By Country

China (10K units) remains the largest concrete-mixer lorry producing country worldwide, comprising approx. 48% of total volume. Moreover, concrete-mixer lorry production in China exceeded the figures recorded by the second-largest producer, Germany (2.7K units), fourfold. Japan (1.3K units) ranked third in terms of total production with a 6.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China was relatively modest. In the other countries, the average annual rates were as follows: Germany (+0.3% per year) and Japan (-0.1% per year).

Imports

World Imports of Concrete-Mixer Lorries

Global concrete-mixer lorry imports expanded markedly to 11K units in 2022, with an increase of 11% on the previous year's figure. Overall, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 27% against the previous year. Over the period under review, global imports hit record highs at 11K units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, concrete-mixer lorry imports skyrocketed to $1.1B in 2022. In general, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 28%. Global imports peaked at $1.2B in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports By Country

The purchases of the twelve major importers of concrete-mixer lorries, namely Russia, the United States, Canada, Vietnam, Germany, Romania, France, the Philippines, Saudi Arabia, Egypt, Kazakhstan and Thailand, represented more than third of total import. Austria (204 units) held a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Vietnam (with a CAGR of +23.1%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($129M), Russia ($70M) and Canada ($57M) appeared to be the countries with the highest levels of imports in 2022, together accounting for 24% of global imports.

The United States, with a CAGR of +25.9%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average concrete-mixer lorry import price stood at $100,388 per unit in 2022, with an increase of 6.4% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. Over the period under review, average import prices reached the peak figure at $112,979 per unit in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($191,337 per unit), while Thailand ($56,408 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+10.2%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Concrete-Mixer Lorries

In 2022, the amount of concrete-mixer lorries exported worldwide surged to 17K units, picking up by 22% compared with the previous year. Overall, exports showed a buoyant increase. The growth pace was the most rapid in 2021 with an increase of 39%. The global exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, concrete-mixer lorry exports surged to $1.1B in 2022. Over the period under review, exports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 32%. Over the period under review, the global exports attained the maximum at $1.1B in 2013; afterwards, it flattened through to 2022.

Exports By Country

China was the main exporter of concrete-mixer lorries in the world, with the volume of exports accounting for 9.5K units, which was near 56% of total exports in 2022. Germany (1.7K units) took the second position in the ranking, followed by Canada (1.2K units) and the United States (0.8K units). All these countries together held approx. 22% share of total exports. The following exporters - Italy (543 units), France (321 units), Turkey (314 units), Japan (309 units) and Poland (272 units) - together made up 10% of total exports.

Exports from China increased at an average annual rate of +14.2% from 2012 to 2022. At the same time, Canada (+27.1%), Poland (+12.9%), Turkey (+8.3%) and France (+6.1%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing exporter exported in the world, with a CAGR of +27.1% from 2012-2022. Germany experienced a relatively flat trend pattern. By contrast, the United States (-1.1%), Italy (-2.5%) and Japan (-3.8%) illustrated a downward trend over the same period. China (+30 p.p.) and Canada (+6 p.p.) significantly strengthened its position in terms of the global exports, while Japan, Italy, the United States and Germany saw its share reduced by -2.8%, -3.9%, -4.3% and -6.9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($448M) remains the largest concrete-mixer lorry supplier worldwide, comprising 41% of global exports. The second position in the ranking was taken by Germany ($194M), with an 18% share of global exports. It was followed by Canada, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled +5.5%. In the other countries, the average annual rates were as follows: Germany (-3.9% per year) and Canada (+29.2% per year).

Export Prices By Country

The average concrete-mixer lorry export price stood at $64,184 per unit in 2022, which is down by -5.2% against the previous year. Overall, the export price showed a abrupt descent. The most prominent rate of growth was recorded in 2017 when the average export price increased by 4% against the previous year. The global export price peaked at $120,760 per unit in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Turkey ($148,993 per unit), while Poland ($32,901 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+1.7%), while the other global leaders experienced a decline in the export price figures.

Source: IndexBox Market Intelligence Platform