Belgium: Ride-On Compaction Equipment Market 2024

Ride-On Compaction Equipment Market Size in Belgium

In 2022, the Belgian ride-on compaction equipment market increased by 260% to $X, rising for the third year in a row after two years of decline. Over the period under review, consumption saw a strong expansion. Over the period under review, the market hit record highs in 2022 and is likely to see steady growth in the near future.

Ride-On Compaction Equipment Production in Belgium

In value terms, ride-on compaction equipment production soared to $X in 2022 estimated in export price. In general, production showed buoyant growth. The pace of growth appeared the most rapid in 2015 with an increase of 120%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Ride-On Compaction Equipment Exports

Exports from Belgium

In 2022, shipments abroad of ride-on compaction equipment decreased by -52.7% to X units, falling for the second year in a row after four years of growth. Overall, exports recorded a perceptible decrease. The most prominent rate of growth was recorded in 2020 with an increase of 214%. As a result, the exports reached the peak of X units. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, ride-on compaction equipment exports shrank dramatically to $X in 2022. In general, exports recorded a deep reduction. The pace of growth appeared the most rapid in 2020 when exports increased by 123%. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Portugal (X units), Germany (X units) and France (X units) were the main destinations of ride-on compaction equipment exports from Belgium, together comprising 60% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Portugal (with a CAGR of +31.6%), while the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X), France ($X) and Portugal ($X) constituted the largest markets for ride-on compaction equipment exported from Belgium worldwide, with a combined 43% share of total exports.

Portugal, with a CAGR of +24.0%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average ride-on compaction equipment export price stood at $X per unit in 2022, which is down by -18.3% against the previous year. Overall, the export price continues to indicate a abrupt setback. The most prominent rate of growth was recorded in 2019 when the average export price increased by 36% against the previous year. The export price peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per unit), while the average price for exports to Portugal ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Luxembourg (+5.2%), while the prices for the other major destinations experienced more modest paces of growth.

Ride-On Compaction Equipment Imports

Imports into Belgium

In 2022, supplies from abroad of ride-on compaction equipment decreased by -53% to X units for the first time since 2019, thus ending a two-year rising trend. In general, imports showed a pronounced descent. The most prominent rate of growth was recorded in 2020 when imports increased by 148%. Over the period under review, imports hit record highs at X units in 2021, and then dropped rapidly in the following year.

In value terms, ride-on compaction equipment imports contracted rapidly to $X in 2022. Over the period under review, imports saw a abrupt slump. The pace of growth was the most pronounced in 2020 when imports increased by 93%. Imports peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Germany (X units) constituted the largest ride-on compaction equipment supplier to Belgium, with a 54% share of total imports. Moreover, ride-on compaction equipment imports from Germany exceeded the figures recorded by the second-largest supplier, China (X units), threefold. The third position in this ranking was held by Sweden (X units), with a 9.8% share.

From 2012 to 2022, the average annual growth rate of volume from Germany amounted to +7.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-1.5% per year) and Sweden (+34.5% per year).

In value terms, the largest ride-on compaction equipment suppliers to Belgium were China ($X), Germany ($X) and Sweden ($X), with a combined 65% share of total imports.

Sweden, with a CAGR of +21.3%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average ride-on compaction equipment import price stood at $X per unit in 2022, with an increase of 7.8% against the previous year. In general, the import price, however, continues to indicate a abrupt curtailment. The pace of growth appeared the most rapid in 2016 an increase of 34%. Over the period under review, average import prices attained the peak figure at $X per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Czech Republic ($X per unit), while the price for Germany ($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 (+1.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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