Asia: Ride-On Compaction Equipment Market 2024

Ride-On Compaction Equipment Market Size in Asia

In 2022, the Asian ride-on compaction equipment market decreased by -1.8% to $X, falling for the second year in a row after two years of growth. The total consumption indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +4.7% 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 -5.6% against 2020 indices. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Ride-On Compaction Equipment Production in Asia

In value terms, ride-on compaction equipment production stood at $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 +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +68.5% against 2012 indices. The pace of growth was the most pronounced in 2017 when the production volume increased by 15% against the previous year. The level of production peaked in 2022 and is likely to see gradual growth in the immediate term.

Ride-On Compaction Equipment Exports

Exports in Asia

In 2022, overseas shipments of ride-on compaction equipment increased by 17% to X units, rising for the second year in a row after two years of decline. Overall, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 40% against the previous year. Over the period under review, the exports hit record highs at X units in 2012; afterwards, it flattened through to 2022.

In value terms, ride-on compaction equipment exports skyrocketed to $X in 2022. Total exports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.2% 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 +89.3% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 57% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the near future.

Exports by Country

China dominates exports structure, resulting at X units, which was approx. 76% of total exports in 2022. It was distantly followed by India (X units), generating a 9.2% share of total exports. Singapore (X units), Japan (X units), Turkey (X units) and Indonesia (X units) took a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to ride-on compaction equipment exports from China stood at -1.2%. At the same time, India (+17.3%), Turkey (+6.1%), Singapore (+2.7%) and Indonesia (+2.3%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia, with a CAGR of +17.3% from 2012-2022. Japan experienced a relatively flat trend pattern. While the share of India (+7.3 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of China (-9.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest ride-on compaction equipment supplier in Asia, comprising 75% of total exports. The second position in the ranking was held by India ($X), with a 9.8% share of total exports. It was followed by Japan, with a 6.4% share.

In China, ride-on compaction equipment exports increased 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

In 2022, the export price in Asia amounted to $X per unit, increasing by 3.5% against the previous year. Over the last decade, it increased at an average annual rate of +5.2%. The pace of growth appeared the most rapid in 2013 when the export price increased by 30%. The level of export peaked at $X per unit in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

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 Turkey (+8.7%), while the other leaders experienced more modest paces of growth.

Ride-On Compaction Equipment Imports

Imports in Asia

After two years of growth, purchases abroad of ride-on compaction equipment decreased by -8% to X units in 2022. Over the period under review, imports recorded a noticeable reduction. The most prominent rate of growth was recorded in 2021 with an increase of 21%. Over the period under review, imports reached the maximum at X units in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, ride-on compaction equipment imports shrank to $X in 2022. Overall, imports showed a perceptible slump. The pace of growth was the most pronounced in 2021 when imports increased by 25%. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

Indonesia (X units), the Philippines (X units), Thailand (X units), Vietnam (X units), the United Arab Emirates (X units), India (X units), Malaysia (X units), Bangladesh (X units), Singapore (X units), South Korea (X units), Turkey (X units) and Cambodia (X units) represented roughly 77% of total imports in 2022. Myanmar (X units) followed a long way behind the leaders.

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, Indonesia ($X), Vietnam ($X) and Thailand ($X) were the countries with the highest levels of imports in 2022, with a combined 38% share of total imports.

Vietnam, with a CAGR of +16.2%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per unit in 2022, approximately reflecting the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the import price increased by 13%. As a result, import price attained the peak level of $X per unit. From 2014 to 2022, the import prices remained at a somewhat 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 Turkey ($X per unit), while India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bangladesh (+2.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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