Spain: Ride-On Compaction Equipment Market 2024

Ride-On Compaction Equipment Market Size in Spain

The Spanish ride-on compaction equipment market dropped remarkably to $X in 2022, shrinking by -19% against the previous year. Over the period under review, the total consumption indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +2.8% 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 +11.8% against 2020 indices. Ride-on compaction equipment consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Ride-On Compaction Equipment Production in Spain

In value terms, ride-on compaction equipment production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.2% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The growth pace was the most rapid in 2020 with an increase of 2.9% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Ride-On Compaction Equipment Exports

Exports from Spain

After two years of growth, overseas shipments of ride-on compaction equipment decreased by -24.8% to X units in 2022. In general, exports faced a abrupt contraction. The most prominent rate of growth was recorded in 2020 with an increase of 17% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, ride-on compaction equipment exports declined notably to $X in 2022. Overall, exports recorded a abrupt contraction. The most prominent rate of growth was recorded in 2021 when exports increased by 71% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Portugal (X units), Morocco (X units) and the Netherlands (X units) were the main destinations of ride-on compaction equipment exports from Spain, together comprising 72% of total exports. Vietnam, Egypt, Germany, Libya, France and Mauritania lagged somewhat behind, together comprising a further 19%.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +32.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Portugal ($X) remains the key foreign market for ride-on compaction equipment exports from Spain, comprising 36% of total exports. The second position in the ranking was held by Vietnam ($X), with a 17% share of total exports. It was followed by Morocco, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Portugal stood at -6.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+39.2% per year) and Morocco (-14.2% per year).

Export Prices by Country

In 2022, the average ride-on compaction equipment export price amounted to $X per unit, reducing by -22% against the previous year. Over the period under review, the export price continues to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2021 an increase of 63% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per unit), while the average price for exports to Mauritania ($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 Peru (+31.6%), while the prices for the other major destinations experienced mixed trend patterns.

Ride-On Compaction Equipment Imports

Imports into Spain

In 2022, the amount of ride-on compaction equipment imported into Spain contracted remarkably to X units, declining by -15.6% against the previous year. Overall, imports, however, showed a buoyant increase. The most prominent rate of growth was recorded in 2017 with an increase of 163%. Imports peaked at X units in 2021, and then reduced markedly in the following year.

In value terms, ride-on compaction equipment imports shrank rapidly to $X in 2022. In general, imports, however, enjoyed a resilient increase. The most prominent rate of growth was recorded in 2014 with an increase of 134% against the previous year. Imports peaked at $X in 2021, and then shrank remarkably in the following year.

Imports by Country

In 2022, China (X units) constituted the largest supplier of ride-on compaction equipment to Spain, with a 36% share of total imports. Moreover, ride-on compaction equipment imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), twofold. Bulgaria (X units) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +92.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+31.7% per year) and Bulgaria (+196.2% per year).

In value terms, Germany ($X), Sweden ($X) and China ($X) constituted the largest ride-on compaction equipment suppliers to Spain, with a combined 71% share of total imports. The United States, Italy, Bulgaria, France and Turkey lagged somewhat behind, together comprising a further 17%.

Bulgaria, with a CAGR of +172.7%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average ride-on compaction equipment import price amounted to $X per unit, shrinking by -15.6% against the previous year. Over the period under review, the import price showed a deep contraction. The pace of growth appeared the most rapid in 2018 an increase of 53% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Turkey ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+0.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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