MENA: Ride-On Compaction Equipment Market 2024

Ride-On Compaction Equipment Market Size in MENA

The MENA's ride-on compaction equipment market shrank to $X in 2022, declining by -12.6% against the previous year. In general, consumption, however, recorded a pronounced increase. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Ride-On Compaction Equipment Production in MENA

In value terms, ride-on compaction equipment production fell slightly to $X in 2022 estimated in export price. Overall, production, however, showed significant growth. The growth pace was the most rapid in 2019 when the production volume increased by 105% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Ride-On Compaction Equipment Exports

Exports in MENA

In 2022, the amount of ride-on compaction equipment exported in MENA soared to X units, surging by 35% compared with 2021 figures. In general, exports enjoyed a temperate expansion. The most prominent rate of growth was recorded in 2019 with an increase of 60%. As a result, the exports attained the peak of X units. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, ride-on compaction equipment exports fell to $X in 2022. Overall, exports recorded prominent growth. The pace of growth was the most pronounced in 2018 when exports increased by 61%. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Turkey prevails in exports structure, finishing at X units, which was near 67% of total exports in 2022. The United Arab Emirates (X units) held a 9.7% share (based on physical terms) of total exports, which put it in second place, followed by Tunisia (5.7%). Kuwait (X units), Israel (X units), Oman (X units) and Algeria (X units) followed a long way behind the leaders.

Exports from Turkey increased at an average annual rate of +6.1% from 2012 to 2022. At the same time, Kuwait (+16.2%), Algeria (+14.9%), Tunisia (+14.5%) and Oman (+13.7%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing exporter exported in MENA, with a CAGR of +16.2% from 2012-2022. The United Arab Emirates experienced a relatively flat trend pattern. By contrast, Israel (-2.0%) illustrated a downward trend over the same period. While the share of Turkey (+7.4 p.p.), Tunisia (+3.3 p.p.) and Kuwait (+2 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Israel (-3 p.p.) and the United Arab Emirates (-6.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest ride-on compaction equipment supplier in MENA, comprising 51% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with an 11% share of total exports. It was followed by Israel, with a 7.8% share.

From 2012 to 2022, the average annual growth rate of value in Turkey totaled +15.3%. In the other countries, the average annual rates were as follows: the United Arab Emirates (-1.5% per year) and Israel (+3.7% per year).

Export Prices by Country

The export price in MENA stood at $X per unit in 2022, reducing by -30.4% against the previous year. Export price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 an increase of 52%. Over the period under review, the export prices reached the peak figure at $X per unit in 2021, and then dropped notably in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Israel ($X per unit), while Turkey ($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 MENA

In 2022, approx. X units of ride-on compaction equipment were imported in MENA; shrinking by -25.8% on the previous year. In general, imports faced a deep downturn. The growth pace was the most rapid in 2014 with an increase of 17% against the previous year. The volume of import peaked at X units in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, ride-on compaction equipment imports shrank markedly to $X in 2022. Over the period under review, imports showed a abrupt curtailment. The pace of growth appeared the most rapid in 2021 when imports increased by 8.1% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the United Arab Emirates (X units) represented the largest importer of ride-on compaction equipment, making up 31% of total imports. Egypt (X units) held the second position in the ranking, followed by Turkey (X units), Israel (X units), Iraq (X units), Algeria (X units), Qatar (X units) and Morocco (X units). All these countries together took near 57% share of total imports.

Imports into the United Arab Emirates decreased at an average annual rate of -1.1% from 2012 to 2022. At the same time, Egypt (+8.4%) displayed positive paces of growth. Moreover, Egypt emerged as the fastest-growing importer imported in MENA, with a CAGR of +8.4% from 2012-2022. Morocco and Qatar experienced a relatively flat trend pattern. By contrast, Israel (-2.4%), Turkey (-7.0%), Algeria (-12.8%) and Iraq (-16.0%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+21 p.p.), Egypt (+12 p.p.), Turkey (+4.8 p.p.), Israel (+4.5 p.p.), Qatar (+3.7 p.p.) and Morocco (+3.6 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Iraq (-4.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest ride-on compaction equipment importing markets in MENA were the United Arab Emirates ($X), Turkey ($X) and Egypt ($X), with a combined 59% share of total imports.

Among the main importing countries, Egypt, with a CAGR of +24.0%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2022, the import price in MENA amounted to $X per unit, rising by 2.5% against the previous year. Over the last decade, it increased at an average annual rate of +1.9%. The pace of growth was the most pronounced in 2017 an increase of 45% 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 Turkey ($X per unit), while Algeria ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (+14.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform