Oman: Ride-On Compaction Equipment Market 2024

Ride-On Compaction Equipment Market Size in Oman

The Omani ride-on compaction equipment market expanded significantly to $X in 2022, increasing by 13% against the previous year. In general, consumption saw a pronounced expansion. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Ride-On Compaction Equipment Production in Oman

In value terms, ride-on compaction equipment production surged to $X in 2022 estimated in export price. In general, production enjoyed a prominent expansion. The pace of growth appeared the most rapid in 2020 with an increase of 92%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Ride-On Compaction Equipment Exports

Exports from Oman

In 2022, overseas shipments of ride-on compaction equipment were finally on the rise to reach X units after two years of decline. Overall, exports recorded a remarkable increase. The most prominent rate of growth was recorded in 2019 with an increase of 103%. 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 soared to $X in 2022. Over the period under review, exports showed a significant expansion. The pace of growth appeared the most rapid in 2018 with an increase of 206%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X units) was the main destination for ride-on compaction equipment exports from Oman, accounting for a 50% share of total exports. Moreover, ride-on compaction equipment exports to the United Arab Emirates exceeded the volume sent to the second major destination, India (X units), fivefold. The third position in this ranking was taken by Saudi Arabia (X units), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United Arab Emirates amounted to +33.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+14.9% per year) and Saudi Arabia (+14.9% per year).

In value terms, the United Arab Emirates ($X) remains the key foreign market for ride-on compaction equipment exports from Oman, comprising 58% of total exports. The second position in the ranking was held by India ($X), with a 13% share of total exports. It was followed by Iran, with an 8.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United Arab Emirates totaled +68.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+98.4% per year) and Iran (+32.3% per year).

Export Prices by Country

The average ride-on compaction equipment export price stood at $X per unit in 2022, with a decrease of -2% against the previous year. In general, the export price, however, showed a significant increase. The pace of growth appeared the most rapid in 2013 an increase of 119%. Over the period under review, the average export prices reached the maximum at $X per unit in 2021, and then fell slightly in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was India ($X per unit), while the average price for exports to Egypt ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (+72.7%), while the prices for the other major destinations experienced more modest paces of growth.

Ride-On Compaction Equipment Imports

Imports into Oman

In 2022, the amount of ride-on compaction equipment imported into Oman totaled X units, with an increase of 14% against the year before. In general, imports, however, faced a dramatic contraction. The most prominent rate of growth was recorded in 2015 when imports increased by 19% against the previous year. As a result, imports reached the peak of X units. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, ride-on compaction equipment imports skyrocketed to $X in 2022. Over the period under review, imports, however, recorded a precipitous shrinkage. The growth pace was the most rapid in 2015 when imports increased by 44% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Germany (X units), China (X units) and India (X units) were the main suppliers of ride-on compaction equipment imports to Oman, together comprising 26% of total imports. The United Arab Emirates, Indonesia, Italy, Malaysia, the Czech Republic, Bahrain, the United States, Belgium, France and South Korea lagged somewhat behind, together accounting for a further 24%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of -6.7%), while imports for the other leaders experienced a decline.

In value terms, China ($X), Germany ($X) and the United Arab Emirates ($X) were the largest ride-on compaction equipment suppliers to Oman, together accounting for 37% of total imports. India, Indonesia, Belgium, the Czech Republic, Italy, France, the United States, Bahrain, South Korea and Malaysia lagged somewhat behind, together accounting for a further 26%.

Among the main suppliers, Italy, with a CAGR of +3.3%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average ride-on compaction equipment import price stood at $X per unit in 2022, growing by 2.1% against the previous year. Over the period under review, import price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ride-on compaction equipment import price increased by +4.5% against 2019 indices. The pace of growth was the most pronounced in 2015 an increase of 21%. Over the period under review, average import prices attained the maximum at $X per unit in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United Arab Emirates ($X per unit), while the price for Malaysia ($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 (+10.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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