Colombia: Ride-On Compaction Equipment Market 2024

Ride-On Compaction Equipment Market Size in Colombia

The Colombian ride-on compaction equipment market shrank notably to $X in 2022, dropping by -18% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption faced a deep downturn. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Ride-On Compaction Equipment Exports

Exports from Colombia

In 2022, the amount of ride-on compaction equipment exported from Colombia shrank to X units, which is down by -6.2% compared with 2021 figures. In general, exports, however, enjoyed a strong expansion. The pace of growth was the most pronounced in 2017 with an increase of 61% against the previous year. As a result, the exports attained the peak of X units. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, ride-on compaction equipment exports expanded to $X in 2022. Over the period under review, exports, however, enjoyed buoyant growth. The most prominent rate of growth was recorded in 2016 with an increase of 145% against the previous year. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Singapore (X units) was the main destination for ride-on compaction equipment exports from Colombia, with a 33% share of total exports. Moreover, ride-on compaction equipment exports to Singapore exceeded the volume sent to the second major destination, Panama (X units), threefold. Guatemala (X units) ranked third in terms of total exports with a 6.7% share.

From 2012 to 2022, the average annual growth rate of volume to Singapore was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (+7.2% per year) and Guatemala (0.0% per year).

In value terms, the largest markets for ride-on compaction equipment exported from Colombia were Singapore ($X), the Dominican Republic ($X) and Peru ($X), together accounting for 66% of total exports.

The Dominican Republic, with a CAGR of +45.2%, 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

In 2022, the average ride-on compaction equipment export price amounted to $X per unit, picking up by 10% against the previous year. In general, the export price showed a prominent expansion. The most prominent rate of growth was recorded in 2014 when the average export price increased by 98%. The export price peaked at $X per unit in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the Dominican Republic ($X per unit), while the average price for exports to Chile ($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 Dominican Republic (+45.2%), while the prices for the other major destinations experienced more modest paces of growth.

Ride-On Compaction Equipment Imports

Imports into Colombia

Ride-on compaction equipment imports into Colombia contracted rapidly to X units in 2022, falling by -15.1% on the year before. Overall, imports saw a abrupt decrease. The most prominent rate of growth was recorded in 2019 with an increase of 129%. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, ride-on compaction equipment imports fell remarkably to $X in 2022. Over the period under review, imports continue to indicate a abrupt slump. The pace of growth appeared the most rapid in 2021 when imports increased by 85%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest ride-on compaction equipment supplier to Colombia, accounting for a 57% share of total imports. Moreover, ride-on compaction equipment imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), sixfold. The third position in this ranking was taken by Brazil (X units), with a 7.7% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to -10.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-6.5% per year) and Brazil (+0.4% per year).

In value terms, China ($X), Brazil ($X) and Germany ($X) were the largest ride-on compaction equipment suppliers to Colombia, with a combined 77% share of total imports. The Czech Republic, Sweden, Italy, the United States, Bulgaria, Peru and Japan lagged somewhat behind, together comprising a further 18%.

In terms of the main suppliers, Italy, with a CAGR of +108.4%, saw 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 average ride-on compaction equipment import price amounted to $X per unit, shrinking by -9.3% against the previous year. Overall, the import price, however, continues to indicate noticeable growth. The pace of growth was the most pronounced in 2016 an increase of 124%. Over the period under review, average import prices reached the maximum 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 Brazil ($X per unit), while the price for Peru ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Togo (+144.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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