Africa's Concrete-Mixer Lorry Market to Witness Modest Growth with Expected CAGR of +1.2% Leading to $172M Market Value by 2035 - News and Statistics - IndexBox

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IndexBox has just published a new report: Africa - Concrete-Mixer Lorries - Market Analysis, Forecast, Size, Trends And Insights.

The African market for concrete-mixer lorries is set to experience an upward consumption trend in the coming years, with a forecasted increase in market volume to 1.6K units and market value to $172M by 2035. The performance of the market is expected to improve slightly, with an anticipated CAGR of +1.2% for volume and +1.8% for value from 2024 to 2035.

Driven by rising demand for concrete-mixer lorry in Africa, the market is expected to start an upward consumption trend over the next decade. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +1.2% for the period from 2024 to 2035, which is projected to bring the market volume to 1.6K units by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of +1.8% for the period from 2024 to 2035, which is projected to bring the market value to $172M (in nominal wholesale prices) by the end of 2035.

In 2024, consumption of concrete-mixer lorries increased by 1.3% to 1.4K units for the first time since 2021, thus ending a two-year declining trend. In general, consumption, however, recorded a mild reduction. The volume of consumption peaked at 2K units in 2016; however, from 2017 to 2024, consumption remained at a lower figure.

The size of the concrete-mixer lorry market in Africa expanded markedly to $141M in 2024, with an increase of 13% 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, saw a noticeable downturn. As a result, consumption attained the peak level of $212M. From 2015 to 2024, the growth of the market remained at a somewhat lower figure.

The countries with the highest volumes of consumption in 2024 were Morocco (137 units), Nigeria (97 units) and Tanzania (80 units), together accounting for 23% of total consumption.

From 2013 to 2024, the biggest increases were recorded for Tanzania (with a CAGR of +15.8%), while consumption for the other leaders experienced more modest paces of growth.

In value terms, the largest concrete-mixer lorry markets in Africa were Nigeria ($31M), Morocco ($16M) and South Africa ($9.4M), with a combined 40% share of the total market. Tanzania, Libya, Democratic Republic of the Congo, Egypt, Ghana, Guinea and Senegal lagged somewhat behind, together comprising a further 26%.

In terms of the main consuming countries, Tanzania, with a CAGR of +19.7%, saw the highest rates of growth with regard to market size over the period under review, while market for the other leaders experienced more modest paces of growth.

The countries with the highest levels of concrete-mixer lorry per capita consumption in 2024 were Libya (7.2 units per million persons), Senegal (4 units per million persons) and Guinea (3.9 units per million persons).

From 2013 to 2024, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Tanzania (with a CAGR of +12.4%), while consumption for the other leaders experienced more modest paces of growth.

In 2024, production of concrete-mixer lorries increased by 137% to 135 units, rising for the second year in a row after two years of decline. Over the period under review, production recorded a resilient expansion. As a result, production reached the peak volume and is likely to continue growth in the immediate term.

In value terms, concrete-mixer lorry production surged to $11M in 2024 estimated in export price. In general, production recorded a prominent expansion. As a result, production attained the peak level and is likely to continue growth in the immediate term.

The countries with the highest volumes of production in 2024 were Egypt (45 units), Malawi (27 units) and South Africa (22 units), with a combined 70% share of total production.

From 2013 to 2024, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by Egypt (with a CAGR of +46.3%), while production for the other leaders experienced more modest paces of growth.

In 2024, supplies from abroad of concrete-mixer lorries decreased by -4.5% to 1.4K units, falling for the second year in a row after two years of growth. Over the period under review, imports continue to indicate a perceptible curtailment. The pace of growth was the most pronounced in 2019 when imports increased by 20%. Over the period under review, imports attained the peak figure at 2.1K units in 2016; however, from 2017 to 2024, imports failed to regain momentum.

In value terms, concrete-mixer lorry imports reached $145M in 2024. In general, imports saw a noticeable contraction. The pace of growth appeared the most rapid in 2019 with an increase of 21% against the previous year. The level of import peaked at $224M in 2014; however, from 2015 to 2024, imports remained at a lower figure.

In 2024, Morocco (146 units), followed by Nigeria (97 units), Tanzania (87 units), Senegal (79 units) and South Africa (76 units) represented the key importers of concrete-mixer lorries, together achieving 35% of total imports. The following importers - Guinea (57 units), Democratic Republic of the Congo (56 units), Libya (52 units), Kenya (50 units) and Ghana (49 units) - together made up 19% of total imports.

From 2013 to 2024, the biggest increases were recorded for Tanzania (with a CAGR of +12.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest concrete-mixer lorry importing markets in Africa were Nigeria ($31M), Morocco ($16M) and South Africa ($9.8M), with a combined 39% share of total imports. Tanzania, Libya, Democratic Republic of the Congo, Senegal, Ghana, Guinea and Kenya lagged somewhat behind, together comprising a further 25%.

Among the main importing countries, Tanzania, with a CAGR of +21.6%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

The import price in Africa stood at $103 thousand per unit in 2024, surging by 5% against the previous year. Over the period under review, the import price, however, recorded a slight decrease. The most prominent rate of growth was recorded in 2018 an increase of 11%. The level of import peaked at $120 thousand per unit in 2013; however, from 2014 to 2024, 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 Nigeria ($319 thousand per unit), while Senegal ($62 thousand per unit) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Nigeria (+7.8%), while the other leaders experienced more modest paces of growth.

In 2024, overseas shipments of concrete-mixer lorries decreased by -2.7% to 179 units, falling for the second consecutive year after two years of growth. Over the period under review, exports saw a perceptible reduction. The most prominent rate of growth was recorded in 2019 with an increase of 30%. Over the period under review, the exports hit record highs at 243 units in 2013; however, from 2014 to 2024, the exports stood at a somewhat lower figure.

In value terms, concrete-mixer lorry exports dropped to $11M in 2024. Overall, exports showed a perceptible reduction. The pace of growth was the most pronounced in 2019 with an increase of 42%. Over the period under review, the exports hit record highs at $16M in 2013; however, from 2014 to 2024, the exports stood at a somewhat lower figure.

South Africa (25 units) and Egypt (20 units) represented roughly 25% of total exports in 2024. Malawi (12 units) held a 6.7% share (based on physical terms) of total exports, which put it in second place, followed by Algeria (5%) and Morocco (5%). The following exporters - Djibouti (8 units), Kenya (7 units), Burkina Faso (7 units), Tanzania (7 units) and Cote d'Ivoire (7 units) - each accounted for a 20% share of total exports.

From 2013 to 2024, the biggest increases were recorded for Egypt (with a CAGR of +18.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest concrete-mixer lorry supplying countries in Africa were South Africa ($2.7M), Egypt ($2.4M) and Djibouti ($848K), together accounting for 54% of total exports.

In terms of the main exporting countries, Egypt, with a CAGR of +64.6%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

In 2024, the export price in Africa amounted to $62 thousand per unit, surging by 1.6% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 an increase of 14% against the previous year. The level of export peaked at $65 thousand per unit in 2013; however, from 2014 to 2024, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2024, amid the top suppliers, the country with the highest price was Egypt ($121 thousand per unit), while Malawi ($23 thousand per unit) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Egypt (+38.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the concrete-mixer lorry market in Africa. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

Making Data-Driven Decisions to Grow Your Business

A Quick Overview of Market Performance

Understanding the Current State of The Market and its Prospects

Finding New Products to Diversify Your Business

Choosing the Best Countries to Establish Your Sustainable Supply Chain

Choosing the Best Countries to Boost Your Export

The Latest Trends and Insights into The Industry

The Largest Import Supplying Countries

The Largest Destinations for Exports

The Largest Producers on The Market and Their Profiles

The Largest Markets And Their Profiles