ASEAN: Ride-On Compaction Equipment Market 2024

Ride-On Compaction Equipment Market Size in ASEAN

The ASEAN ride-on compaction equipment market was estimated at $X in 2022, picking up by 7.1% against the previous year. The total consumption indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +7.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +109.6% against 2012 indices. Over the period under review, the market attained the peak level in 2022 and is likely to see gradual growth in the near future.

Ride-On Compaction Equipment Production in ASEAN

In value terms, ride-on compaction equipment production expanded significantly to $X in 2022 estimated in export price. The total production indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +7.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -4.9% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 24% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Ride-On Compaction Equipment Exports

Exports in ASEAN

For the third year in a row, ASEAN recorded growth in shipments abroad of ride-on compaction equipment, which increased by 99% to X units in 2022. In general, exports recorded a slight expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, ride-on compaction equipment exports skyrocketed to $X in 2022. Over the period under review, exports, however, recorded a mild setback. The most prominent rate of growth was recorded in 2021 with an increase of 33%. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Singapore (X units) represented the main exporter of ride-on compaction equipment, achieving 65% of total exports. It was distantly followed by Indonesia (X units), comprising a 30% share of total exports. Thailand (X units) followed a long way behind the leaders.

Singapore was also the fastest-growing in terms of the ride-on compaction equipment exports, with a CAGR of +2.7% from 2012 to 2022. At the same time, Indonesia (+2.3%) displayed positive paces of growth. By contrast, Thailand (-13.7%) illustrated a downward trend over the same period. Singapore (+6.8 p.p.) and Indonesia (+2.2 p.p.) significantly strengthened its position in terms of the total exports, while Thailand saw its share reduced by -7.3% from 2012 to 2022, respectively.

In value terms, Indonesia ($X) remains the largest ride-on compaction equipment supplier in ASEAN, comprising 68% of total exports. The second position in the ranking was held by Singapore ($X), with a 24% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Indonesia stood at +2.4%. In the other countries, the average annual rates were as follows: Singapore (-5.7% per year) and Thailand (-20.1% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per unit, declining by -41% against the previous year. Overall, the export price recorded a noticeable decline. The pace of growth appeared the most rapid in 2013 an increase of 15% against the previous year. The level of export peaked at $X 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 Indonesia ($X per unit), while Singapore ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+0.1%), while the other leaders experienced a decline in the export price figures.

Ride-On Compaction Equipment Imports

Imports in ASEAN

In 2022, supplies from abroad of ride-on compaction equipment increased by 1.7% to X units, rising for the second year in a row after two years of decline. Total imports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +6.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +47.7% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 45% against the previous year. Over the period under review, imports attained the maximum at X units in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, ride-on compaction equipment imports expanded significantly to $X in 2022. Total imports indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +67.6% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 58%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Indonesia (X units), the Philippines (X units), Thailand (X units) and Vietnam (X units) was the largest importer of ride-on compaction equipment in ASEAN, committing 79% of total import. Malaysia (X units) ranks next in terms of the total imports with a 7.9% share, followed by Singapore (5.2%). Cambodia (X 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 the Philippines (with a CAGR of +15.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Vietnam ($X) and Thailand ($X) constituted the countries with the highest levels of imports in 2022, together comprising 72% of total imports.

Among the main importing countries, Vietnam, with a CAGR of +16.2%, recorded 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.

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per unit, growing by 4.2% against the previous year. In general, the import price, however, continues to indicate a noticeable shrinkage. The pace of growth was the most pronounced in 2021 an increase of 9%. Over the period under review, import prices reached the peak figure at $X per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Vietnam ($X per unit), while the Philippines ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+2.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform