GCC: Ride-On Compaction Equipment Market 2024

Ride-On Compaction Equipment Exports

Exports in GCC

In 2022, ride-on compaction equipment exports in GCC shrank modestly to X units, which is down by -2.6% against 2021 figures. Over the period under review, exports, however, enjoyed a modest expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 79%. The volume of export peaked at X units in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, ride-on compaction equipment exports shrank to $X in 2022. Total exports indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -21.1% against 2019 indices. The growth pace was the most rapid in 2017 with an increase of 94% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates represented the main exporter of ride-on compaction equipment in GCC, with the volume of exports recording X units, which was approx. 61% of total exports in 2022. Kuwait (X units) ranks second in terms of the total exports with a 20% share, followed by Oman (16%). Bahrain (X units) took a minor share of total exports.

The United Arab Emirates experienced a relatively flat trend pattern with regard to volume of exports of ride-on compaction equipment. At the same time, Kuwait (+16.2%), Oman (+13.7%) and Bahrain (+4.1%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing exporter exported in GCC, with a CAGR of +16.2% from 2012-2022. Kuwait (+15 p.p.) and Oman (+11 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by -13.5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X), Oman ($X) and Kuwait ($X) constituted the countries with the highest levels of exports in 2022, together comprising 96% of total exports.

Oman, with a CAGR of +51.2%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in GCC stood at $X per unit in 2022, reducing by -3.6% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the export price increased by 28% against the previous year. Over the period under review, the export prices reached the maximum at $X per unit in 2019; however, from 2020 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 Oman ($X per unit), while Kuwait ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (+33.0%), while the other leaders experienced more modest paces of growth.

Ride-On Compaction Equipment Imports

Imports in GCC

In 2022, purchases abroad of ride-on compaction equipment decreased by -35.3% to X units, falling for the second year in a row after three years of growth. Overall, imports showed a deep contraction. The most prominent rate of growth was recorded in 2014 with an increase of 22%. The volume of import peaked at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, ride-on compaction equipment imports shrank notably to $X in 2022. In general, imports faced a deep setback. The most prominent rate of growth was recorded in 2019 with an increase of 37%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

The United Arab Emirates represented the major importing country with an import of about X units, which resulted at 75% of total imports. Qatar (X units) took a 13% share (based on physical terms) of total imports, which put it in second place, followed by Kuwait (6.9%). Oman (X units) and Bahrain (X units) took a relatively small share of total imports.

Imports into the United Arab Emirates decreased at an average annual rate of -1.1% from 2012 to 2022. Qatar experienced a relatively flat trend pattern. Kuwait (-8.8%), Bahrain (-13.5%) and Oman (-22.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United Arab Emirates, Qatar and Kuwait increased by +59, +10 and +3.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported ride-on compaction equipment in GCC, comprising 67% of total imports. The second position in the ranking was held by Qatar ($X), with a 16% share of total imports. It was followed by Kuwait, with a 9% share.

In the United Arab Emirates, ride-on compaction equipment imports shrank by an average annual rate of -3.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Qatar (-3.6% per year) and Kuwait (-6.8% per year).

Import Prices by Country

The import price in GCC stood at $X per unit in 2022, reducing by -1.5% against the previous year. Over the last decade, it increased at an average annual rate of +1.3%. The most prominent rate of growth was recorded in 2013 when the import price increased by 24%. As a result, import price reached the peak level of $X per unit. From 2014 to 2022, the 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 Oman ($X per unit), while the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bahrain (+9.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform