Global Ride-On Compaction Equipment Market 2024

Ride-On Compaction Equipment Market Size

For the eleventh year in a row, the global ride-on compaction equipment market recorded growth in sales value, which increased by 12% to $X in 2022. Overall, the total consumption indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +6.1% 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 +80.8% against 2012 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Ride-On Compaction Equipment Production

In value terms, ride-on compaction equipment production expanded modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +4.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 13%. Over the period under review, global production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Ride-On Compaction Equipment Exports

Exports

In 2022, the amount of ride-on compaction equipment exported worldwide expanded notably to X units, with an increase of 6.8% compared with 2021 figures. Overall, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by 23%. Over the period under review, the global exports hit record highs at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, ride-on compaction equipment exports expanded significantly to $X in 2022. Over the period under review, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by 34%. The global exports peaked in 2022 and are likely to see gradual growth in years to come.

Exports by Country

In 2022, China (X units), distantly followed by Germany (X units), Sweden (X units), the Czech Republic (X units), Italy (X units) and the United States (X units) were the major exporters of ride-on compaction equipment, together committing 77% of total exports. The following exporters - India (X units), the Netherlands (X units), Singapore (X units), the UK (X units) and Japan (X units) - together made up 12% of total exports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +17.3%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, Germany ($X), China ($X) and the United States ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 68% share of global exports. Sweden, the Czech Republic, India, the Netherlands, Japan, Italy, the UK and Singapore lagged somewhat behind, together accounting for a further 22%.

Italy, with a CAGR of +13.3%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

The average ride-on compaction equipment export price stood at $X per unit in 2022, therefore, remained relatively stable against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 8.8%. The global export price peaked at $X per unit in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+8.6%), while the other global leaders experienced more modest paces of growth.

Ride-On Compaction Equipment Imports

Imports

In 2022, approx. X units of ride-on compaction equipment were imported worldwide; picking up by 14% compared with 2021 figures. Overall, total imports indicated resilient 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 +53.4% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 30%. Over the period under review, global imports hit record highs in 2022 and are likely to continue growth in the near future.

In value terms, ride-on compaction equipment imports expanded sharply to $X in 2022. The total import value increased at an average annual rate of +1.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by 31% against the previous year. Over the period under review, global imports reached the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

The United States represented the main importer of ride-on compaction equipment in the world, with the volume of imports resulting at X units, which was near 46% of total imports in 2022. It was distantly followed by the UK (X units), making up a 5.8% share of total imports. The following importers - France (X units), the Czech Republic (X units), Canada (X units), Greece (X units), Denmark (X units), Italy (X units), Germany (X units), the Netherlands (X units), Australia (X units) and Indonesia (X units) - together made up 21% of total imports.

From 2012 to 2022, average annual rates of growth with regard to ride-on compaction equipment imports into the United States stood at +17.4%. At the same time, Denmark (+30.0%), Greece (+27.3%), Australia (+13.3%), the Czech Republic (+9.4%), Germany (+9.2%), France (+7.2%), Italy (+7.1%), the UK (+6.9%), Indonesia (+6.5%), the Netherlands (+2.1%) and Canada (+1.8%) displayed positive paces of growth. Moreover, Denmark emerged as the fastest-growing importer imported in the world, with a CAGR of +30.0% from 2012-2022. While the share of the United States (+28 p.p.), Greece (+1.7 p.p.) and Denmark (+1.6 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported ride-on compaction equipment worldwide, comprising 27% of global imports. The second position in the ranking was held by Australia ($X), with a 6.7% share of global imports. It was followed by Canada, with a 5.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States stood at +11.1%. In the other countries, the average annual rates were as follows: Australia (+10.7% per year) and Canada (+0.0% per year).

Import Prices by Country

The average ride-on compaction equipment import price stood at $X per unit in 2022, falling by -1.6% against the previous year. Overall, the import price saw a noticeable downturn. The growth pace was the most rapid in 2019 when the average import price increased by 13%. Over the period under review, average import prices hit record highs 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 importing countries. In 2022, amid the top importers, the country with the highest price was Australia ($X per unit), while Greece ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+1.1%), while the other global leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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