Latin America and the Caribbean: Ride-On Compaction Equipment Market 2025

Ride-On Compaction Equipment Market Size in Latin America and the Caribbean

The Latin American ride-on compaction equipment market stood at $X in 2022, increasing by 10% against the previous year. The market value increased at an average annual rate of +4.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level in 2022 and is likely to see steady growth in the near future.

Ride-On Compaction Equipment Production in Latin America and the Caribbean

In value terms, ride-on compaction equipment production expanded modestly to $X in 2022 estimated in export price. The total production indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +8.8% 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 -2.7% against 2020 indices. The pace of growth was the most pronounced in 2013 when the production volume increased by 41%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Ride-On Compaction Equipment Exports

Exports in Latin America and the Caribbean

In 2022, approx. X units of ride-on compaction equipment were exported in Latin America and the Caribbean; declining by -23.1% against 2021 figures. In general, exports recorded a slight setback. The most prominent rate of growth was recorded in 2016 with an increase of 34% against the previous year. Over the period under review, the exports attained the maximum at X units in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, ride-on compaction equipment exports contracted notably to $X in 2022. Overall, exports, however, showed a slight increase. The most prominent rate of growth was recorded in 2021 when exports increased by 37% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Brazil dominates exports structure, recording X units, which was near 69% of total exports in 2022. It was distantly followed by Mexico (X units), making up a 7.8% share of total exports. The following exporters - Argentina (X units), Chile (X units), Panama (X units), Peru (X units), Colombia (X units) and Honduras (X units) - together made up 14% of total exports.

From 2012 to 2022, average annual rates of growth with regard to ride-on compaction equipment exports from Brazil stood at +2.0%. At the same time, Argentina (+20.6%), Honduras (+9.6%), Peru (+6.1%), Colombia (+5.2%) and Chile (+1.5%) displayed positive paces of growth. Moreover, Argentina emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +20.6% from 2012-2022. By contrast, Panama (-8.1%) and Mexico (-13.1%) illustrated a downward trend over the same period. While the share of Brazil (+21 p.p.) and Argentina (+2.8 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Panama (-2.5 p.p.) and Mexico (-19.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) remains the largest ride-on compaction equipment supplier in Latin America and the Caribbean, comprising 87% of total exports. The second position in the ranking was held by Argentina ($X), with a 2.9% share of total exports. It was followed by Mexico, with a 2% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Brazil stood at +2.2%. In the other countries, the average annual rates were as follows: Argentina (+52.5% per year) and Mexico (-12.3% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per unit, with an increase of 2.1% against the previous year. Over the last decade, it increased at an average annual rate of +2.7%. The pace of growth was the most pronounced in 2021 an increase of 45%. The level of export peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Brazil ($X per unit), while Peru ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+26.5%), while the other leaders experienced more modest paces of growth.

Ride-On Compaction Equipment Imports

Imports in Latin America and the Caribbean

In 2022, supplies from abroad of ride-on compaction equipment increased by 25% to X units, rising for the second consecutive year after three years of decline. Overall, imports, however, showed a pronounced decrease. The most prominent rate of growth was recorded in 2021 when imports increased by 41% against the previous year. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, ride-on compaction equipment imports soared to $X in 2022. Over the period under review, imports, however, saw a perceptible reduction. The pace of growth appeared the most rapid in 2017 when imports increased by 45% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Mexico (X units), distantly followed by Peru (X units), Chile (X units), Brazil (X units), Colombia (X units) and Argentina (X units) were the main importers of ride-on compaction equipment, together generating 76% of total imports. Ecuador (X units), the Dominican Republic (X units), Guyana (X units), Uruguay (X units), Guatemala (X units) and El Salvador (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by El Salvador (with a CAGR of +10.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Brazil ($X) and Peru ($X) were the countries with the highest levels of imports in 2022, together accounting for 46% of total imports. Argentina, Chile, Colombia, Uruguay, the Dominican Republic, Guatemala, Guyana, El Salvador and Ecuador lagged somewhat behind, together accounting for a further 44%.

In terms of the main importing countries, Guyana, with a CAGR of +18.1%, saw 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 Latin America and the Caribbean amounted to $X per unit, surging by 9.1% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 26%. As a result, import price reached the peak level of $X per unit. From 2018 to 2022, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Uruguay ($X per unit), while Chile ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guyana (+9.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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