Europe: Ride-On Compaction Equipment Market 2024

Ride-On Compaction Equipment Market Size in Europe

In 2022, the Europe ride-on compaction equipment market increased by 28% to $X, rising for the third consecutive year after two years of decline. The total consumption indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +7.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +48.2% against 2019 indices. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the immediate term.

Ride-On Compaction Equipment Production in Europe

In value terms, ride-on compaction equipment production reduced modestly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2015 with an increase of 12% against the previous year. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Ride-On Compaction Equipment Exports

Exports in Europe

In 2022, exports of ride-on compaction equipment in Europe dropped to X units, waning by -1.6% on the previous year's figure. Overall, exports saw a slight reduction. The most prominent rate of growth was recorded in 2021 with an increase of 16%. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, ride-on compaction equipment exports fell modestly to $X in 2022. Over the period under review, exports recorded a slight decline. The pace of growth was the most pronounced in 2021 when exports increased by 25% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Germany was the key exporting country with an export of about X units, which amounted to 43% of total exports. Sweden (X units) ranks second in terms of the total exports with a 14% share, followed by the Czech Republic (12%), Italy (11%) and the Netherlands (5.2%). The UK (X units) and Belgium (X units) took a minor share of total exports.

Germany experienced a relatively flat trend pattern with regard to volume of exports of ride-on compaction equipment. At the same time, Sweden (+8.3%), the Netherlands (+5.5%), Italy (+4.3%) and the Czech Republic (+2.5%) displayed positive paces of growth. Moreover, Sweden emerged as the fastest-growing exporter exported in Europe, with a CAGR of +8.3% from 2012-2022. By contrast, the UK (-2.8%) and Belgium (-4.4%) illustrated a downward trend over the same period. While the share of Sweden (+8.2 p.p.), Italy (+4.7 p.p.), the Czech Republic (+3.5 p.p.) and the Netherlands (+2.4 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) remains the largest ride-on compaction equipment supplier in Europe, comprising 64% of total exports. The second position in the ranking was taken by Sweden ($X), with a 9.1% share of total exports. It was followed by the Czech Republic, with an 8.2% share.

In Germany, ride-on compaction equipment exports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Sweden (-3.9% per year) and the Czech Republic (-0.5% per year).

Export Prices by Country

The export price in Europe stood at $X per unit in 2022, leveling off at the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the export price increased by 7.9% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2018; however, from 2019 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 Germany ($X per unit), while Italy ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+8.6%), while the other leaders experienced more modest paces of growth.

Ride-On Compaction Equipment Imports

Imports in Europe

In 2022, overseas purchases of ride-on compaction equipment increased by 2.6% to X units, rising for the seventh consecutive year after two years of decline. In general, imports recorded a prominent increase. The most prominent rate of growth was recorded in 2021 with an increase of 32%. Over the period under review, imports attained the peak figure in 2022 and are likely to see gradual growth in the near future.

In value terms, ride-on compaction equipment imports fell to $X in 2022. Total imports indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +17.3% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 35% against the previous year. As a result, imports attained the peak of $X, and then dropped in the following year.

Imports by Country

In 2022, the UK (X units), distantly followed by France (X units), the Czech Republic (X units), Greece (X units), Denmark (X units), Italy (X units), Germany (X units), the Netherlands (X units) and Russia (X units) were the main importers of ride-on compaction equipment, together comprising 73% of total imports. Spain (X units), Sweden (X units), Slovakia (X units) and Belgium (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Denmark (with a CAGR of +30.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), the UK ($X) and France ($X) were the countries with the highest levels of imports in 2022, together comprising 41% of total imports. The Netherlands, Germany, Italy, Spain, the Czech Republic, Denmark, Sweden, Belgium, Greece and Slovakia lagged somewhat behind, together accounting for a further 32%.

Among the main importing countries, Greece, with a CAGR of +16.3%, recorded the highest rates of growth with regard to 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 import price in Europe amounted to $X per unit, reducing by -15.5% against the previous year. In general, the import price recorded a pronounced decline. The pace of growth appeared the most rapid in 2018 an increase of 8.3% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Russia ($X per unit), while Slovakia ($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 (+1.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform