Croatia: Ride-On Compaction Equipment Market 2024

Ride-On Compaction Equipment Market Size in Croatia

The Croatian ride-on compaction equipment market dropped to $X in 2022, with a decrease of -5.3% 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). Overall, consumption, however, posted a prominent expansion. Ride-on compaction equipment consumption peaked at $X in 2021, and then contracted in the following year.

Ride-On Compaction Equipment Exports

Exports from Croatia

In 2022, exports of ride-on compaction equipment from Croatia soared to X units, increasing by 57% compared with the previous year's figure. In general, total exports indicated a measured expansion from 2012 to 2022: its volume 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. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, ride-on compaction equipment exports skyrocketed to $X in 2022. Overall, exports showed a slight expansion. The growth pace was the most rapid in 2019 with an increase of 49%. The exports peaked in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Slovenia (X units) was the main destination for ride-on compaction equipment exports from Croatia, with a 55% share of total exports. Moreover, ride-on compaction equipment exports to Slovenia exceeded the volume sent to the second major destination, Bosnia and Herzegovina (X units), threefold. The Netherlands (X units) ranked third in terms of total exports with an 8.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Slovenia stood at +27.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bosnia and Herzegovina (-0.7% per year) and the Netherlands (+13.3% per year).

In value terms, the largest markets for ride-on compaction equipment exported from Croatia were Slovenia ($X), the Netherlands ($X) and Bosnia and Herzegovina ($X), together comprising 74% of total exports. Serbia, Estonia, Vietnam, Austria and Belgium lagged somewhat behind, together comprising a further 22%.

Among the main countries of destination, Vietnam, with a CAGR of +22.5%, recorded the highest rates of growth with regard to 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

The average ride-on compaction equipment export price stood at $X per unit in 2022, with a decrease of -19.5% against the previous year. Over the period under review, the export price continues to indicate a perceptible contraction. The most prominent rate of growth was recorded in 2019 an increase of 49%. The export price peaked at $X per unit in 2012; however, from 2013 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 Estonia ($X per unit), while the average price for exports to Belgium ($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 Vietnam (+6.8%), while the prices for the other major destinations experienced mixed trend patterns.

Ride-On Compaction Equipment Imports

Imports into Croatia

In 2022, purchases abroad of ride-on compaction equipment decreased by -6.1% to X units for the first time since 2016, thus ending a five-year rising trend. Overall, imports, however, recorded a significant increase. The growth pace was the most rapid in 2013 with an increase of 203% against the previous year. Over the period under review, imports hit record highs at X units in 2021, and then reduced in the following year.

In value terms, ride-on compaction equipment imports soared to $X in 2022. Over the period under review, imports, however, continue to indicate a prominent increase. The pace of growth was the most pronounced in 2013 when imports increased by 100%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

Germany (X units), Bosnia and Herzegovina (X units) and Sweden (X units) were the main suppliers of ride-on compaction equipment imports to Croatia, with a combined 73% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Bosnia and Herzegovina (with a CAGR of +61.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of ride-on compaction equipment to Croatia, comprising 52% of total imports. The second position in the ranking was held by Bosnia and Herzegovina ($X), with a 16% share of total imports. It was followed by the Netherlands, with a 9.3% share.

From 2012 to 2022, the average annual growth rate of value from Germany totaled +19.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Bosnia and Herzegovina (+113.7% per year) and the Netherlands (+95.5% per year).

Import Prices by Country

In 2022, the average ride-on compaction equipment import price amounted to $X per unit, picking up by 24% against the previous year. Overall, the import price, however, saw a abrupt curtailment. Over the period under review, average import prices reached the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+50.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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