Ride-On Compaction Equipment Market

The global ride-on compaction equipment market is expected to continue its upward trend, with consumption projected to reach 578K units and market value to hit $15B by 2030. In 2022, the market saw significant growth, with consumption increasing by 9.6% compared to the previous year. Countries like China, the United States, and India lead in consumption volume, while China, Brazil, and India dominate in market value. Production and imports also saw steady growth, with the United States being the key importer of ride-on compaction equipment. Export prices varied by country, with Germany having the highest export price per unit. Overall, the market is anticipated to see steady growth in the near future.

Market Forecast

Driven by increasing demand for ride-on compaction equipment worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +2.8% for the period from 2022 to 2030, which is projected to bring the market volume to 578K units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +5.2% for the period from 2022 to 2030, which is projected to bring the market value to $15B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Ride-On Compaction Equipment

In 2022, approx. 462K units of ride-on compaction equipment were consumed worldwide; growing by 9.6% on the previous year's figure. In general, the total consumption indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +8.7% 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 +129.3% against 2012 indices. Global consumption peaked in 2022 and is expected to retain growth in the immediate term.

The global ride-on compaction equipment market size stood at $10B in 2022, growing by 8.5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +7.6% 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 +20.3% against 2018 indices. Global consumption peaked in 2022 and is expected to retain growth in the immediate term.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (78K units), the United States (76K units) and India (35K units), with a combined 41% share of global consumption. Japan, Indonesia, Brazil, Pakistan, the UK, Australia, Turkey, Spain, Sweden and France lagged somewhat behind, together comprising a further 30%.

From 2012 to 2022, the biggest increases were recorded for Sweden (with a CAGR of +84.2%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, China ($1.3B), Brazil ($1.3B) and India ($974M) constituted the countries with the highest levels of market value in 2022, with a combined 36% share of the global market. Japan, the United States, Indonesia, Australia, Pakistan, the UK, France, Turkey, Spain and Sweden lagged somewhat behind, together comprising a further 34%.

Sweden, with a CAGR of +74.3%, saw the highest rates of growth with regard to market size among the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of ride-on compaction equipment per capita consumption in 2022 were Sweden (774 units per billion persons), Australia (534 units per billion persons) and the UK (226 units per billion persons).

From 2012 to 2022, the biggest increases were recorded for Sweden (with a CAGR of +82.4%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Ride-On Compaction Equipment

Global ride-on compaction equipment production rose markedly to 388K units in 2022, with an increase of 7.4% against 2021. Overall, the total production indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +84.8% against 2012 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by 22%. Global production peaked in 2022 and is likely to see steady growth in the near future.

In value terms, ride-on compaction equipment production expanded rapidly to $9.8B in 2022 estimated in export price. Over the period under review, the total production indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +7.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +19.8% against 2018 indices. The pace of growth was the most pronounced in 2013 when the production volume increased by 25% against the previous year. Over the period under review, global production reached the peak level in 2022 and is expected to retain growth in the near future.

Production By Country

The country with the largest volume of ride-on compaction equipment production was China (109K units), accounting for 28% of total volume. Moreover, ride-on compaction equipment production in China exceeded the figures recorded by the second-largest producer, India (38K units), threefold. Japan (22K units) ranked third in terms of total production with a 5.8% share.

In China, ride-on compaction equipment production expanded at an average annual rate of +3.1% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: India (+8.7% per year) and Japan (+13.2% per year).

Imports

World Imports of Ride-On Compaction Equipment

For the third consecutive year, the global market recorded growth in supplies from abroad of ride-on compaction equipment, which increased by 21% to 177K units in 2022. In general, total imports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +7.2% 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 +61.9% against 2019 indices. The growth pace was the most rapid in 2021 with an increase of 29% against the previous year. Global imports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, ride-on compaction equipment imports surged to $2.8B in 2022. The total import value increased at an average annual rate of +2.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 33% against the previous year. Over the period under review, global imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Imports By Country

The United States was the key importer of ride-on compaction equipment in the world, with the volume of imports accounting for 77K units, which was near 44% of total imports in 2022. It was distantly followed by the UK (9.8K units), constituting a 5.5% share of total imports. France (5.9K units), the Czech Republic (5.5K units), the Philippines (4.8K units), Sweden (4.5K units), Canada (3.9K units), Russia (3.7K units), Denmark (3K units), the Netherlands (3K units), Greece (2.9K units), Germany (2.8K units) and Australia (2.7K units) followed a long way behind the leaders.

Imports into the United States increased at an average annual rate of +17.4% from 2012 to 2022. At the same time, Sweden (+31.2%), Denmark (+26.6%), the Philippines (+25.9%), Greece (+24.3%), Australia (+13.3%), the Czech Republic (+11.3%), France (+7.4%), the UK (+6.9%), the Netherlands (+3.0%), Germany (+2.9%) and Canada (+1.8%) displayed positive paces of growth. Moreover, Sweden emerged as the fastest-growing importer imported in the world, with a CAGR of +31.2% from 2012-2022. By contrast, Russia (-2.0%) illustrated a downward trend over the same period. While the share of the United States (+26 p.p.), Sweden (+2.2 p.p.) and the Philippines (+2.2 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of Russia (-3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($729M) constitutes the largest market for imported ride-on compaction equipment worldwide, comprising 26% of global imports. The second position in the ranking was taken by Australia ($180M), with a 6.5% share of global imports. It was followed by Russia, with a 5.3% share.

In the United States, ride-on compaction equipment imports expanded at an average annual rate of +11.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Australia (+10.7% per year) and Russia (-1.5% per year).

Import Prices By Country

The average ride-on compaction equipment import price stood at $15,626 per unit in 2022, falling by -3.5% against the previous year. Over the period under review, the import price saw a perceptible downturn. The pace of growth was the most pronounced in 2019 an increase of 9.7% against the previous year. Global import price peaked at $25,452 per unit in 2012; however, from 2013 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 Australia ($66,213 per unit), while Sweden ($2,839 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 (+0.6%), while the other global leaders experienced mixed trends in the import price figures.

Exports

World Exports of Ride-On Compaction Equipment

In 2022, shipments abroad of ride-on compaction equipment increased by 19% to 103K units, rising for the second consecutive year after two years of decline. Over the period under review, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 28%. Over the period under review, the global exports reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.

In value terms, ride-on compaction equipment exports expanded notably to $2.4B in 2022. In general, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 33%. Over the period under review, the global exports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Exports By Country

In 2022, China (31K units), distantly followed by Germany (18K units), Argentina (15K units) and Sweden (5.2K units) represented the key exporters of ride-on compaction equipment, together mixing up 66% of total exports. The Czech Republic (4.3K units), the United States (4K units), India (3.7K units), Italy (3.2K units), Belgium (1.7K units), the UK (1.7K units), Malaysia (1.7K units) and Singapore (1.6K units) held a minor share of total exports.

From 2012 to 2022, the biggest increases were recorded for Argentina (with a CAGR of +190.1%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the largest ride-on compaction equipment supplying countries worldwide were Germany ($771M), China ($686M) and the United States ($151M), with a combined 67% share of global exports. Sweden, the Czech Republic, India, Italy, Belgium, the UK, Singapore, Malaysia and Argentina lagged somewhat behind, together comprising a further 18%.

Among the main exporting countries, Argentina, with a CAGR of +25.3%, recorded the highest rates of growth with regard to the value of exports, 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 $23,271 per unit in 2022, which is down by -9% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 18%. Over the period under review, the average export prices reached the maximum at $28,900 per unit in 2017; however, from 2018 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 Germany ($42,865 per unit), while Argentina ($34 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+13.1%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform