Eastern Asia: Ride-On Compaction Equipment Market 2024

Ride-On Compaction Equipment Market Size in Eastern Asia

In 2022, the East Asian ride-on compaction equipment market decreased by -3.5% to $X, falling for the second consecutive year after two years of growth. The total consumption indicated pronounced growth from 2012 to 2022: its value 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. Based on 2022 figures, consumption decreased by -13.6% against 2020 indices. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Ride-On Compaction Equipment Production in Eastern Asia

In value terms, ride-on compaction equipment production amounted to $X in 2022 estimated in export price. The total production indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +4.4% 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 -1.4% against 2020 indices. The most prominent rate of growth was recorded in 2016 when the production volume increased by 27%. Over the period under review, production reached the maximum level at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Ride-On Compaction Equipment Exports

Exports in Eastern Asia

In 2022, shipments abroad of ride-on compaction equipment increased by 11% to X units, rising for the second consecutive year after two years of decline. Overall, exports, however, recorded a mild reduction. The most prominent rate of growth was recorded in 2021 with an increase of 40%. The volume of export peaked 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. Total exports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.1% 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 +89.2% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 56%. The level of export peaked in 2022 and is likely to continue growth in the immediate term.

Exports by Country

China prevails in exports structure, amounting to X units, which was approx. 95% of total exports in 2022. It was distantly followed by Japan (X units), comprising a 4.7% share of total exports.

Exports from China decreased at an average annual rate of -1.2% from 2012 to 2022. Japan experienced a relatively flat trend pattern. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest ride-on compaction equipment supplier in Eastern Asia, comprising 92% of total exports. The second position in the ranking was taken by Japan ($X), with a 7.8% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in China amounted to +5.8%.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per unit, growing by 9.1% against the previous year. Export price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of +6.3% 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 +26.0% against 2019 indices. The growth pace was the most rapid in 2013 when the export price increased by 30%. Over the period under review, the export prices attained the peak figure 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 Japan ($X per unit), while China amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+7.0%).

Ride-On Compaction Equipment Imports

Imports in Eastern Asia

After two years of growth, supplies from abroad of ride-on compaction equipment decreased by -22.9% to X units in 2022. Overall, imports recorded a mild reduction. The pace of growth was the most pronounced in 2017 with an increase of 50%. The volume of import peaked 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 dropped markedly to $X in 2022. Over the period under review, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 48% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then fell notably in the following year.

Imports by Country

In 2022, South Korea (X units) was the largest importer of ride-on compaction equipment, comprising 42% of total imports. It was distantly followed by Japan (X units), Taiwan (Chinese) (X units), China (X units) and Hong Kong SAR (X units), together generating a 57% share of total imports.

South Korea was also the fastest-growing in terms of the ride-on compaction equipment imports, with a CAGR of +4.7% from 2012 to 2022. At the same time, Taiwan (Chinese) (+3.4%) displayed positive paces of growth. By contrast, Japan (-4.0%), Hong Kong SAR (-4.0%) and China (-9.0%) illustrated a downward trend over the same period. South Korea (+19 p.p.) and Taiwan (Chinese) (+5.1 p.p.) significantly strengthened its position in terms of the total imports, while Hong Kong SAR, Japan and China saw its share reduced by -3.8%, -5.4% and -15.5% from 2012 to 2022, respectively.

In value terms, South Korea ($X) constitutes the largest market for imported ride-on compaction equipment in Eastern Asia, comprising 49% of total imports. The second position in the ranking was taken by Japan ($X), with a 21% share of total imports. It was followed by Taiwan (Chinese), with a 15% share.

In South Korea, ride-on compaction equipment imports expanded at an average annual rate of +5.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Japan (-4.0% per year) and Taiwan (Chinese) (+4.9% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per unit, increasing by 8% against the previous year. Over the last decade, it increased at an average annual rate of +1.2%. The pace of growth was the most pronounced in 2016 when the import price increased by 22% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was South Korea ($X per unit), while Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+1.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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