Scandinavia: Ride-On Compaction Equipment Market 2024

Ride-On Compaction Equipment Market Size in Scandinavia

The Scandinavia ride-on compaction equipment market contracted to $X in 2022, reducing by -8.3% against the previous year. Over the period under review, consumption, however, showed buoyant growth. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Ride-On Compaction Equipment Production in Scandinavia

In value terms, ride-on compaction equipment production declined to $X in 2022 estimated in export price. In general, production, however, enjoyed a strong expansion. The pace of growth was the most pronounced in 2018 when the production volume increased by 132% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Ride-On Compaction Equipment Exports

Exports in Scandinavia

In 2022, shipments abroad of ride-on compaction equipment was finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. In general, exports recorded a strong increase. The most prominent rate of growth was recorded in 2018 with an increase of 75% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, ride-on compaction equipment exports amounted to $X in 2022. Over the period under review, exports, however, saw a pronounced reduction. The most prominent rate of growth was recorded in 2017 when exports increased by 17%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Sweden dominates exports structure, accounting for X units, which was approx. 97% of total exports in 2022. Finland (X units) took a relatively small share of total exports.

Sweden was also the fastest-growing in terms of the ride-on compaction equipment exports, with a CAGR of +8.3% from 2012 to 2022. At the same time, Finland (+4.1%) displayed positive paces of growth. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Sweden ($X) remains the largest ride-on compaction equipment supplier in Scandinavia, comprising 86% of total exports. The second position in the ranking was taken by Finland ($X), with a 12% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Sweden amounted to -3.9%.

Export Prices by Country

The export price in Scandinavia stood at $X per unit in 2022, dropping by -1.6% against the previous year. Over the period under review, the export price continues to indicate a deep contraction. The most prominent rate of growth was recorded in 2021 an increase of 24%. Over the period under review, the export prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Finland ($X per unit), while Sweden amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+0.4%).

Ride-On Compaction Equipment Imports

Imports in Scandinavia

In 2022, ride-on compaction equipment imports in Scandinavia reached X units, leveling off at 2021 figures. In general, imports enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 185% against the previous year. The volume of import peaked at X units in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, ride-on compaction equipment imports expanded remarkably to $X in 2022. Total imports indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when imports increased by 40% against the previous year. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

Sweden represented the key importing country with an import of around X units, which recorded 68% of total imports. Finland (X units) ranks second in terms of the total imports with a 16% share, followed by Norway (16%).

Sweden was also the fastest-growing in terms of the ride-on compaction equipment imports, with a CAGR of +21.1% from 2012 to 2022. At the same time, Finland (+5.7%) and Norway (+1.6%) displayed positive paces of growth. While the share of Sweden (+38 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Finland (-12.2 p.p.) and Norway (-25.3 p.p.) displayed negative dynamics.

In value terms, the largest ride-on compaction equipment importing markets in Scandinavia were Norway ($X), Sweden ($X) and Finland ($X).

Among the main importing countries, Sweden, with a CAGR of +14.0%, recorded the highest rates of growth with regard to 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 Scandinavia amounted to $X per unit, growing by 8.4% against the previous year. Over the period under review, the import price, however, recorded a abrupt curtailment. The pace of growth was the most pronounced in 2021 when the import price increased by 103% against the previous year. Over the period under review, import prices attained the peak figure at $X per unit in 2014; however, from 2015 to 2022, 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 Norway ($X per unit), while Sweden ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (-1.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform