South-Eastern Asia: Ride-On Compaction Equipment Market 2024

Ride-On Compaction Equipment Market Size in South-Eastern Asia

The Southeast Asian ride-on compaction equipment market totaled $X in 2022, surging by 7.7% against the previous year. The total consumption indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +7.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +110.8% against 2012 indices. The level of consumption peaked in 2022 and is expected to retain growth in the near future.

Ride-On Compaction Equipment Production in South-Eastern Asia

In value terms, ride-on compaction equipment production rose notably to $X in 2022 estimated in export price. The total production indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +7.1% 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 -4.9% against 2020 indices. The most prominent rate of growth was recorded in 2020 when the production volume increased by 24% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Ride-On Compaction Equipment Exports

Exports in South-Eastern Asia

In 2022, ride-on compaction equipment exports in South-Eastern Asia surged to X units, increasing by 99% compared with 2021 figures. In general, exports saw slight growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, ride-on compaction equipment exports surged to $X in 2022. Over the period under review, exports, however, continue to indicate a mild slump. The pace of growth appeared the most rapid in 2021 with an increase of 33%. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Singapore represented the main exporting country with an export of about X units, which accounted for 65% of total exports. It was distantly followed by Indonesia (X units), creating a 30% share of total exports. Thailand (X units) held a minor share of total exports.

Singapore was also the fastest-growing in terms of the ride-on compaction equipment exports, with a CAGR of +2.7% from 2012 to 2022. At the same time, Indonesia (+2.3%) displayed positive paces of growth. By contrast, Thailand (-13.7%) illustrated a downward trend over the same period. While the share of Singapore (+6.8 p.p.) and Indonesia (+2.2 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Thailand (-7.3 p.p.) displayed negative dynamics.

In value terms, Indonesia ($X) remains the largest ride-on compaction equipment supplier in South-Eastern Asia, comprising 68% of total exports. The second position in the ranking was taken by Singapore ($X), with a 24% share of total exports.

In Indonesia, ride-on compaction equipment exports expanded at an average annual rate of +2.4% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Singapore (-5.7% per year) and Thailand (-20.1% per year).

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per unit, reducing by -40.9% against the previous year. In general, the export price showed a noticeable decrease. The most prominent rate of growth was recorded in 2013 an increase of 15% against the previous year. Over the period under review, the export prices reached the maximum at $X per unit in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

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 Indonesia ($X per unit), while Singapore ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+0.1%), while the other leaders experienced a decline in the export price figures.

Ride-On Compaction Equipment Imports

Imports in South-Eastern Asia

In 2022, purchases abroad of ride-on compaction equipment increased by 1.7% to X units, rising for the second year in a row after two years of decline. Total imports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +6.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +47.6% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 45% against the previous year. The volume of import peaked at X units in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, ride-on compaction equipment imports amounted to $X in 2022. Total imports indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +67.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 58% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in years to come.

Imports by Country

The countries with the highest levels of ride-on compaction equipment imports in 2022 were Indonesia (X units), the Philippines (X units), Thailand (X units) and Vietnam (X units), together recording 79% of total import. It was distantly followed by Malaysia (X units) and Singapore (X units), together creating a 13% share of total imports. Cambodia (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of +15.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Vietnam ($X) and Thailand ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 72% share of total imports.

In terms of the main importing countries, Vietnam, with a CAGR of +16.2%, 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

The import price in South-Eastern Asia stood at $X per unit in 2022, picking up by 4.1% against the previous year. Over the period under review, the import price, however, saw a perceptible decline. The pace of growth was the most pronounced in 2021 an increase of 9%. Over the period under review, import prices attained the maximum at $X per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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 Vietnam ($X per unit), while the Philippines ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+2.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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