Asia-Pacific: Ride-On Compaction Equipment Market 2024

Ride-On Compaction Equipment Market Size in Asia-Pacific

The Asia-Pacific ride-on compaction equipment market rose modestly to $X in 2022, growing by 4.7% against the previous year. The total consumption indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -2.6% against 2020 indices. Over the period under review, the market reached the peak level at $X in 2020; afterwards, it flattened through to 2022.

Ride-On Compaction Equipment Production in Asia-Pacific

In value terms, ride-on compaction equipment production rose to $X in 2022 estimated in export price. The total production indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +4.8% 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 -2.3% against 2020 indices. The pace of growth was the most pronounced in 2017 when the production volume increased by 19% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Ride-On Compaction Equipment Exports

Exports in Asia-Pacific

In 2022, overseas shipments of ride-on compaction equipment increased by 16% to X units, rising for the second year in a row after two years of decline. Over the period under review, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 37%. The volume of export peaked at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, ride-on compaction equipment exports skyrocketed to $X in 2022. Total exports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.1% 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 +89.8% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 56% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

China prevails in exports structure, finishing at X units, which was near 78% of total exports in 2022. It was distantly followed by India (X units), making up a 9.5% share of total exports. The following exporters - Singapore (X units), Japan (X units) and Indonesia (X units) - together made up 10% of total exports.

Exports from China decreased at an average annual rate of -1.2% from 2012 to 2022. At the same time, India (+17.3%), Singapore (+2.7%) and Indonesia (+2.3%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +17.3% from 2012-2022. Japan experienced a relatively flat trend pattern. India (+7.6 p.p.) significantly strengthened its position in terms of the total exports, while China saw its share reduced by -8.8% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest ride-on compaction equipment supplier in Asia-Pacific, comprising 76% of total exports. The second position in the ranking was taken by India ($X), with a 9.9% share of total exports. It was followed by Japan, with a 6.5% share.

In China, ride-on compaction equipment exports expanded at an average annual rate of +5.8% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: India (+12.3% per year) and Japan (-0.2% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per unit in 2022, increasing by 5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +5.3%. The most prominent rate of growth was recorded in 2013 when the export price increased by 31%. The level of export peaked at $X per unit in 2017; however, from 2018 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 China (+7.0%), while the other leaders experienced more modest paces of growth.

Ride-On Compaction Equipment Imports

Imports in Asia-Pacific

In 2022, overseas purchases of ride-on compaction equipment increased by 2.1% to X units, rising for the second year in a row after three years of decline. Total imports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of +6.2% 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 +42.6% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 40% against the previous year. Over the period under review, imports hit record highs at X units in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, ride-on compaction equipment imports reached $X in 2022. The total import value increased at an average annual rate of +4.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 41% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

The countries with the highest levels of ride-on compaction equipment imports in 2022 were Australia (X units), Indonesia (X units), the Philippines (X units), Thailand (X units) and Vietnam (X units), together resulting at 64% of total import. India (X units) held the next position in the ranking, followed by Malaysia (X units). All these countries together held approx. 10% share of total imports. Bangladesh (X units), Singapore (X units), South Korea (X units), New Zealand (X units), Cambodia (X units) and Myanmar (X units) held a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +17.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Australia ($X) constitutes the largest market for imported ride-on compaction equipment in Asia-Pacific, comprising 34% of total imports. The second position in the ranking was held by Indonesia ($X), with a 16% share of total imports. It was followed by Vietnam, with a 9.4% share.

In Australia, ride-on compaction equipment imports expanded at an average annual rate of +10.7% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Indonesia (+3.2% per year) and Vietnam (+16.2% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per unit in 2022, picking up by 12% against the previous year. Over the period under review, the import price, however, continues to indicate a mild decline. The most prominent rate of growth was recorded in 2019 when the import price increased by 20% against the previous year. The level of import peaked at $X per unit in 2013; however, from 2014 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 Australia ($X per unit), while India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+3.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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