China: Ride-On Compaction Equipment Market 2024

Ride-On Compaction Equipment Market Size in China

In 2022, the Chinese ride-on compaction equipment market decreased by -3.2% to $X, falling for the second consecutive year after two years of growth. In general, the total consumption indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +3.3% 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 -19.0% against 2020 indices. Ride-on compaction equipment consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Ride-On Compaction Equipment Production in China

In value terms, ride-on compaction equipment production expanded modestly to $X in 2022 estimated in export price. Over the period under review, the total production indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +3.6% 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 -2.7% against 2020 indices. The growth pace was the most rapid in 2016 when the production volume increased by 32% against the previous year. Ride-on compaction equipment production peaked at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Ride-On Compaction Equipment Exports

Exports from China

In 2022, shipments abroad of ride-on compaction equipment increased by 12% to X units, rising for the second consecutive year after two years of decline. Over the period under review, exports, however, showed a mild decline. The pace of growth appeared the most rapid in 2021 with an increase of 43%. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, ride-on compaction equipment exports surged to $X in 2022. Overall, exports enjoyed a resilient increase. The most prominent rate of growth was recorded in 2021 with an increase of 62% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

Russia (X units), the United States (X units) and Germany (X units) were the main destinations of ride-on compaction equipment exports from China, together accounting for 29% of total exports. The Philippines, the UK, India, Australia, Indonesia, France, Mexico, South Africa, Vietnam and Thailand lagged somewhat behind, together accounting for a further 33%.

From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of +34.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for ride-on compaction equipment exported from China were Russia ($X), the United States ($X) and Australia ($X), together comprising 38% of total exports. Indonesia, the Philippines, Vietnam, Germany, Thailand, Mexico, the UK, France, South Africa and India lagged somewhat behind, together comprising a further 24%.

In terms of the main countries of destination, the UK, with a CAGR of +54.2%, saw 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.

Export Prices by Country

In 2022, the average ride-on compaction equipment export price amounted to $X per unit, growing by 11% against the previous year. Overall, export price indicated prominent growth from 2012 to 2022: its price 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, ride-on compaction equipment export price increased by +32.5% against 2019 indices. The growth pace was the most rapid in 2013 when the average export price increased by 32%. Over the period under review, the average export prices hit record highs in 2022 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Australia ($X per unit), while the average price for exports to India ($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 the United States (+15.0%), while the prices for the other major destinations experienced more modest paces of growth.

Ride-On Compaction Equipment Imports

Imports into China

In 2022, approx. X units of ride-on compaction equipment were imported into China; which is down by -60.6% against the year before. In general, imports recorded a abrupt decline. The most prominent rate of growth was recorded in 2021 with an increase of 72%. Over the period under review, imports hit record highs 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 contracted notably to $X in 2022. Overall, imports continue to indicate a abrupt descent. The pace of growth was the most pronounced in 2021 with an increase of 108%. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

Germany (X units), Sweden (X units) and Japan (X units) were the main suppliers of ride-on compaction equipment imports to China, with a combined 78% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Sweden (with a CAGR of -3.8%), while purchases for the other leaders experienced a decline.

In value terms, Germany ($X), Sweden ($X) and Japan ($X) constituted the largest ride-on compaction equipment suppliers to China, with a combined 63% share of total imports.

Among the main suppliers, Sweden, with a CAGR of -5.7%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average ride-on compaction equipment import price amounted to $X per unit, jumping by 32% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the average import price increased by 51%. The import price peaked at $X per unit in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Bulgaria ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (-0.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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