Concrete Mixer Market

The global market for concrete mixers is expected to see an increase in consumption and value over the next eight years, with a forecasted CAGR of +1.0% and +2.9% respectively. Despite a decrease in consumption in 2022, global consumption reached record highs in 2020. China, the United States, and India were the top consuming countries in 2022. Production volumes saw a decline in 2022 after several years of growth. China was the largest producer of concrete mixers, while the United States and Russia were major importers. Global exports also saw a decline in 2022, with China being the leading exporter. The average export price per unit increased in 2022, with Germany having the highest price and Lebanon the lowest. Overall, the market shows mixed trends in consumption, production, imports, and exports, with varying growth rates amongst different countries.

Market Forecast

Driven by rising demand for concrete mixer 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 +1.0% for the period from 2022 to 2030, which is projected to bring the market volume to 7.3M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.9% for the period from 2022 to 2030, which is projected to bring the market value to $6.8B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Concrete Or Mortar Mixers

In 2022, consumption of concrete or mortar mixers decreased by -2.1% to 6.7M units, falling for the second year in a row after three years of growth. Overall, consumption saw a relatively flat trend pattern. Over the period under review, global consumption hit record highs at 7.3M units in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

The global concrete mixer market value shrank modestly to $5.4B in 2022, remaining stable 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). Over the period under review, consumption recorded a slight decline. The most prominent rate of growth was recorded in 2018 when the market value increased by 3.7% against the previous year. Over the period under review, the global market reached the maximum level at $6.4B in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (1.6M units), the United States (864K units) and India (612K units), together comprising 46% of global consumption. Russia, Japan, Brazil, Mexico, France, Turkey, Iran, Democratic Republic of the Congo and South Korea lagged somewhat behind, together accounting for a further 22%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by France (with a CAGR of +4.3%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest concrete mixer markets worldwide were the United States ($1.4B), China ($906M) and India ($541M), together comprising 52% of the global market. Turkey, Japan, Russia, Mexico, France, Brazil, South Korea, Iran and Democratic Republic of the Congo lagged somewhat behind, together accounting for a further 23%.

France, with a CAGR of +4.0%, saw the highest growth rate of market size in terms of the main consuming countries 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 per capita consumption in 2022 were the United States (2,577 units per million persons), France (1,985 units per million persons) and Japan (1,973 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 France (with a CAGR of +4.0%), while consumption for the other global leaders experienced mixed trends in the per capita consumption figures.

Production

World Production of Concrete Or Mortar Mixers

In 2022, production of concrete or mortar mixers decreased by -1.6% to 6.8M units, falling for the second consecutive year after three years of growth. Over the period under review, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the production volume increased by 12%. Over the period under review, global production reached the maximum volume at 7.2M units in 2012; however, from 2013 to 2022, production remained at a lower figure.

In value terms, concrete mixer production fell to $6B in 2022 estimated in export price. Overall, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 23%. As a result, production reached the peak level of $7.7B. From 2019 to 2022, global production growth failed to regain momentum.

Production By Country

China (2.4M units) constituted the country with the largest volume of concrete mixer production, accounting for 36% of total volume. Moreover, concrete mixer production in China exceeded the figures recorded by the second-largest producer, the United States (652K units), fourfold. The third position in this ranking was taken by India (644K units), with a 9.5% share.

In China, concrete mixer production expanded at an average annual rate of +4.1% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: the United States (-5.5% per year) and India (+1.0% per year).

Imports

World Imports of Concrete Or Mortar Mixers

In 2022, after four years of growth, there was significant decline in overseas purchases of concrete or mortar mixers, when their volume decreased by -7.4% to 2M units. The total import volume increased at an average annual rate of +1.5% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by 13% against the previous year. As a result, imports attained the peak of 2.1M units, and then shrank in the following year.

In value terms, concrete mixer imports declined slightly to $1.1B in 2022. Over the period under review, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 17%. Over the period under review, global imports reached the peak figure at $1.4B in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports By Country

In 2022, the United States (233K units), followed by Russia (147K units) represented the major importers of concrete or mortar mixers, together achieving 19% of total imports. Germany (83K units), France (80K units), Ghana (66K units), Nigeria (61K units), Romania (57K units), Kazakhstan (53K units), Uzbekistan (46K units), Indonesia (45K units), Australia (36K units), the UK (35K units) and Austria (33K units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Uzbekistan (with a CAGR of +9.9%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest concrete mixer importing markets worldwide were the United States ($106M), Russia ($87M) and France ($62M), with a combined 22% share of global imports. Germany, the UK, Romania, Uzbekistan, Kazakhstan, Australia, Austria, Indonesia, Nigeria and Ghana lagged somewhat behind, together accounting for a further 24%.

In terms of the main importing countries, Uzbekistan, with a CAGR of +12.5%, recorded the highest growth rate of 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 concrete mixer import price stood at $575 per unit in 2022, picking up by 3.3% against the previous year. In general, the import price, however, saw a pronounced setback. The most prominent rate of growth was recorded in 2021 when the average import price increased by 3.4%. Over the period under review, average import prices reached the peak figure at $732 per unit in 2014; however, from 2015 to 2022, import prices remained at a 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 the UK ($1,046 per unit), while Ghana ($242 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (+2.4%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Concrete Or Mortar Mixers

After five years of growth, shipments abroad of concrete or mortar mixers decreased by -5.8% to 2M units in 2022. Over the period under review, total exports indicated slight growth from 2012 to 2022: its volume increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +58.3% against 2016 indices. The pace of growth appeared the most rapid in 2021 when exports increased by 38% against the previous year. As a result, the exports reached the peak of 2.1M units, and then declined in the following year.

In value terms, concrete mixer exports reduced slightly to $1.1B in 2022. Overall, exports showed a slight shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of 27%. Over the period under review, the global exports reached the peak figure at $1.4B in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports By Country

In 2022, China (806K units) was the main exporter of concrete or mortar mixers, constituting 40% of total exports. It was distantly followed by Turkey (267K units), Germany (175K units) and Italy (128K units), together committing a 29% share of total exports. The following exporters - Canada (64K units), Mexico (56K units), Portugal (48K units), Serbia (43K units), India (42K units) and Lebanon (37K units) - together made up 15% of total exports.

Exports from China increased at an average annual rate of +9.0% from 2012 to 2022. At the same time, Canada (+10.6%), Mexico (+10.4%), India (+9.6%), Turkey (+7.4%) and Serbia (+1.7%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing exporter exported in the world, with a CAGR of +10.6% from 2012-2022. Portugal experienced a relatively flat trend pattern. By contrast, Lebanon (-2.0%), Germany (-3.1%) and Italy (-5.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China, Turkey, Canada and Mexico increased by +20, +5.4, +1.8 and +1.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest concrete mixer supplying countries worldwide were China ($278M), Germany ($193M) and Italy ($126M), together comprising 52% of global exports. Turkey, Canada, India, Mexico, Portugal, Serbia and Lebanon lagged somewhat behind, together comprising a further 26%.

Among the main exporting countries, India, with a CAGR of +10.3%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average concrete mixer export price amounted to $573 per unit, growing by 3.5% against the previous year. Overall, the export price, however, showed a perceptible curtailment. Over the period under review, the average export prices attained the peak figure at $800 per unit in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

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 Germany ($1,101 per unit), while Lebanon ($280 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Serbia (+3.8%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform