Sweden: Ride-On Compaction Equipment Market 2024

Ride-On Compaction Equipment Market Size in Sweden

The Swedish ride-on compaction equipment market declined to $X in 2022, shrinking by -9.1% against the previous year. Overall, consumption, however, enjoyed a resilient expansion. Ride-on compaction equipment consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Ride-On Compaction Equipment Production in Sweden

In value terms, ride-on compaction equipment production reduced to $X in 2022 estimated in export price. In general, production, however, showed strong growth. The most prominent rate of growth was recorded in 2018 when the production volume increased by 140% against the previous year. Ride-on compaction equipment production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Ride-On Compaction Equipment Exports

Exports from Sweden

In 2022, after two years of decline, there was significant growth in shipments abroad of ride-on compaction equipment, when their volume increased by 5.4% to X units. In general, exports saw a remarkable increase. The most prominent rate of growth was recorded in 2018 when exports increased by 81%. The exports peaked 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 rose to $X in 2022. Overall, exports, however, showed a perceptible downturn. The pace of growth appeared the most rapid in 2014 when exports increased by 14% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units), Greece (X units) and Italy (X units) were the main destinations of ride-on compaction equipment exports from Sweden, with a combined 33% share of total exports. The UK, Germany, the Czech Republic, Denmark, France, Bosnia and Herzegovina, Spain, Lithuania, Canada and Australia lagged somewhat behind, together accounting for a further 43%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Bosnia and Herzegovina (with a CAGR of +473.9%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for ride-on compaction equipment exports from Sweden, comprising 36% of total exports. The second position in the ranking was held by Canada ($X), with an 8.1% share of total exports. It was followed by Australia, with a 7.2% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +5.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-2.5% per year) and Australia (-15.7% per year).

Export Prices by Country

In 2022, the average ride-on compaction equipment export price amounted to $X per unit, dropping by -3.5% against the previous year. Overall, the export price saw a deep downturn. The most prominent rate of growth was recorded in 2021 when the average export price increased by 21%. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($X per unit), while the average price for exports to the Czech Republic ($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 Bosnia and Herzegovina (+23.0%), while the prices for the other major destinations experienced a decline.

Ride-On Compaction Equipment Imports

Imports into Sweden

In 2022, the amount of ride-on compaction equipment imported into Sweden stood at X units, remaining stable against the previous year's figure. Over the period under review, imports enjoyed a significant expansion. The growth pace was the most rapid in 2019 when imports increased by 1,028% against the previous year. Imports peaked at X units in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, ride-on compaction equipment imports surged to $X in 2022. In general, imports posted a strong increase. The pace of growth appeared the most rapid in 2019 with an increase of 351% against the previous year. Over the period under review, imports attained the peak figure at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Germany (X units) constituted the largest ride-on compaction equipment supplier to Sweden, with a 82% share of total imports. Moreover, ride-on compaction equipment imports from Germany exceeded the figures recorded by the second-largest supplier, Bulgaria (X units), sixfold. The third position in this ranking was held by China (X units), with a 2% share.

From 2012 to 2022, the average annual growth rate of volume from Germany totaled +36.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Bulgaria (+41.8% per year) and China (+10.6% per year).

In value terms, the largest ride-on compaction equipment suppliers to Sweden were Germany ($X), Bulgaria ($X) and Norway ($X), with a combined 90% share of total imports.

In terms of the main suppliers, Bulgaria, with a CAGR of +50.1%, recorded the highest growth rate of 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

In 2022, the average ride-on compaction equipment import price amounted to $X per unit, increasing by 30% against the previous year. Over the period under review, the import price, however, showed a abrupt decline. The most prominent rate of growth was recorded in 2018 when the average import price increased by 63% against the previous year. Over the period under review, average import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 Norway ($X per unit), while the price for Germany ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+26.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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