Middle East: Ride-On Compaction Equipment Market 2024

Ride-On Compaction Equipment Market Size in the Middle East

The Middle Eastern ride-on compaction equipment market dropped to $X in 2022, which is down by -12.8% against the previous year. In general, consumption, however, enjoyed a strong increase. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Ride-On Compaction Equipment Production in the Middle East

In value terms, ride-on compaction equipment production dropped modestly to $X in 2022 estimated in export price. Overall, production, however, showed a significant increase. The growth pace was the most rapid in 2019 when the production volume increased by 109%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Ride-On Compaction Equipment Exports

Exports in the Middle East

In 2022, approx. X units of ride-on compaction equipment were exported in the Middle East; growing by 32% compared with the previous year. Over the period under review, exports posted a measured increase. The growth pace was the most rapid in 2019 with an increase of 60% against the previous year. 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 shrank to $X in 2022. In general, exports enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2018 when exports increased by 66%. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Turkey was the main exporter of ride-on compaction equipment in the Middle East, with the volume of exports reaching X units, which was near 74% of total exports in 2022. It was distantly followed by the United Arab Emirates (X units), committing an 11% share of total exports. Kuwait (X units), Israel (X units), Oman (X units), Lebanon (X units) and Jordan (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to ride-on compaction equipment exports from Turkey stood at +6.1%. At the same time, Kuwait (+16.2%), Oman (+13.7%) and Jordan (+9.3%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +16.2% from 2012-2022. Lebanon and the United Arab Emirates experienced a relatively flat trend pattern. By contrast, Israel (-2.0%) illustrated a downward trend over the same period. Turkey (+10 p.p.), Kuwait (+2.3 p.p.) and Oman (+1.6 p.p.) significantly strengthened its position in terms of the total exports, while Israel and the United Arab Emirates saw its share reduced by -3.1% and -6.3% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest ride-on compaction equipment supplier in the Middle East, comprising 58% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 13% share of total exports. It was followed by Israel, with a 9% share.

In Turkey, ride-on compaction equipment exports expanded at an average annual rate of +15.3% over the period from 2012-2022. 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

In 2022, the export price in the Middle East amounted to $X per unit, with a decrease of -32.2% against the previous year. In general, the export price, however, recorded a temperate increase. The growth pace was the most rapid in 2020 when the export price increased by 58%. The level of export peaked at $X per unit in 2021, and then declined significantly in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Jordan ($X per unit), while Turkey ($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 the Middle East

In 2022, the amount of ride-on compaction equipment imported in the Middle East shrank rapidly to X units, dropping by -27.9% compared with the year before. Over the period under review, imports showed a abrupt downturn. The pace of growth was the most pronounced in 2020 with an increase of 11% against the previous year. Over the period under review, imports attained the maximum at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, ride-on compaction equipment imports shrank rapidly to $X in 2022. Overall, imports faced a deep downturn. The most prominent rate of growth was recorded in 2020 when imports increased by 13%. 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

The United Arab Emirates represented the largest importer of ride-on compaction equipment in the Middle East, with the volume of imports amounting to X units, which was near 44% of total imports in 2022. Turkey (X units) took a 17% share (based on physical terms) of total imports, which put it in second place, followed by Israel (10%), Iraq (9.8%) and Qatar (7.3%). Kuwait (X units) and Oman (X units) held a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to ride-on compaction equipment imports into the United Arab Emirates stood at -1.1%. Qatar experienced a relatively flat trend pattern. Israel (-2.4%), Turkey (-7.0%), Kuwait (-8.8%), Iraq (-16.0%) and Oman (-22.6%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+32 p.p.), Turkey (+8.8 p.p.), Israel (+7.2 p.p.), Qatar (+5.6 p.p.) and Kuwait (+1.6 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Iraq (-3.4 p.p.) and Oman (-4 p.p.) displayed negative dynamics.

In value terms, the largest ride-on compaction equipment importing markets in the Middle East were the United Arab Emirates ($X), Turkey ($X) and Israel ($X), together accounting for 76% of total imports.

Israel, with a CAGR of -0.7%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per unit, remaining constant against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.9%. The most prominent rate of growth was recorded in 2013 an increase of 20%. Over the period under review, import prices attained the peak figure at $X per unit in 2021, and then reduced slightly in the following year.

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 Turkey ($X per unit), while Iraq ($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 (+3.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :