Agricultural Appliance Market

The article discusses the trends and projections in the global agricultural appliance market from 2012 to 2022, with a focus on consumption volume and value, production, imports, and exports. It highlights key countries with the highest levels of consumption, production, imports, and exports, as well as the average per capita consumption of agricultural appliances. The data reveals fluctuations in market performance over the analyzed period, including notable growth rates in certain countries and declines in others. Overall, the market is expected to continue on an upward consumption trend, with projections indicating growth in both volume and value over the next eight years.

Market Forecast

Driven by increasing demand for agricultural appliances 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 +2.6% for the period from 2022 to 2030, which is projected to bring the market volume to 547M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.2% for the period from 2022 to 2030, which is projected to bring the market value to $9.6B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Agricultural and Horticultural Appliances for Projecting or Dispersing Liquids or Powders

In 2022, global consumption of agricultural appliances dropped to 446M units, declining by -7.9% compared with 2021 figures. The total consumption volume increased at an average annual rate of +4.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak volume of 484M units, and then fell in the following year.

The global agricultural appliance market value totaled $7.5B in 2022, remaining stable 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). Over the period under review, the total consumption indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.8% 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 +6.6% against 2020 indices. Over the period under review, the global market attained the maximum level at $7.8B in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were the United States (77M units), China (53M units) and Greece (27M units), together comprising 35% of global consumption.

From 2012 to 2022, the biggest increases were recorded for Greece (with a CAGR of +35.0%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, Turkey ($2.7B) led the market, alone. The second position in the ranking was taken by the United States ($229M). It was followed by Brazil.

In Turkey, the agricultural appliance market expanded at an average annual rate of +4.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United States (+11.7% per year) and Brazil (-17.2% per year).

In 2022, the highest levels of agricultural appliance per capita consumption was registered in Greece (2,549 units per 1000 persons), followed by Zimbabwe (645 units per 1000 persons), Romania (630 units per 1000 persons) and Iraq (313 units per 1000 persons), while the world average per capita consumption of agricultural appliance was estimated at 56 units per 1000 persons.

In Greece, agricultural appliance per capita consumption expanded at an average annual rate of +36.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Zimbabwe (+27.0% per year) and Romania (+26.7% per year).

Production

World Production of Agricultural and Horticultural Appliances for Projecting or Dispersing Liquids or Powders

In 2022, after six years of growth, there was significant decline in production of agricultural appliances, when its volume decreased by -15.7% to 432M units. In general, the total production indicated tangible growth from 2012 to 2022: its volume increased at an average annual rate of +4.0% 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 +52.4% against 2015 indices. The pace of growth appeared the most rapid in 2021 with an increase of 25%. As a result, production reached the peak volume of 512M units, and then fell remarkably in the following year.

In value terms, agricultural appliance production reduced sharply to $4.5B in 2022 estimated in export price. Over the period under review, production, however, recorded a prominent increase. The growth pace was the most rapid in 2017 with an increase of 162% against the previous year. Over the period under review, global production reached the peak level at $6.9B in 2019; however, from 2020 to 2022, production failed to regain momentum.

Production By Country

China (117M units) constituted the country with the largest volume of agricultural appliance production, comprising approx. 27% of total volume. Moreover, agricultural appliance production in China exceeded the figures recorded by the second-largest producer, Turkey (44M units), threefold. The third position in this ranking was taken by Israel (43M units), with a 9.9% share.

From 2012 to 2022, the average annual growth rate of volume in China totaled -3.7%. In the other countries, the average annual rates were as follows: Turkey (+86.5% per year) and Israel (+20.2% per year).

Imports

World Imports of Agricultural and Horticultural Appliances for Projecting or Dispersing Liquids or Powders

In 2022, after three years of growth, there was decline in overseas purchases of agricultural appliances, when their volume decreased by -4% to 366M units. In general, total imports indicated a pronounced increase from 2012 to 2022: its volume 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, imports increased by +76.3% against 2018 indices. The pace of growth appeared the most rapid in 2020 with an increase of 26% against the previous year. Over the period under review, global imports reached the maximum at 381M units in 2021, and then declined in the following year.

In value terms, agricultural appliance imports reached $2.6B in 2022. Over the period under review, imports recorded a slight shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of 18% against the previous year. Global imports peaked at $3.1B in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports By Country

In 2022, the United States (67M units), distantly followed by Mexico (28M units) represented the main importers of agricultural appliances, together creating 26% of total imports. Iraq (13M units), Canada (13M units), Romania (13M units), Spain (12M units), France (11M units), Zimbabwe (9.9M units), Italy (9.5M units), Morocco (9.4M units), Argentina (9M units), the Netherlands (8.9M units) and Russia (8.5M units) held a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to agricultural appliance imports into the United States stood at +4.3%. At the same time, Zimbabwe (+27.5%), Romania (+26.1%), Iraq (+26.0%), Morocco (+23.6%), the Netherlands (+13.4%), Canada (+11.8%), France (+9.9%) and Italy (+2.0%) displayed positive paces of growth. Moreover, Zimbabwe emerged as the fastest-growing importer imported in the world, with a CAGR of +27.5% from 2012-2022. Mexico experienced a relatively flat trend pattern. By contrast, Spain (-1.5%), Argentina (-3.6%) and Russia (-5.1%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Iraq, Romania, Zimbabwe, the United States, Morocco, Canada and the Netherlands increased by +3.1, +3, +2.4, +2.4, +2.2, +2 and +1.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($304M), Mexico ($271M) and the United States ($150M) constituted the countries with the highest levels of imports in 2022, with a combined 28% share of global imports. Canada, France, Spain, Romania, Italy, the Netherlands, Zimbabwe, Argentina, Iraq and Morocco lagged somewhat behind, together accounting for a further 27%.

Iraq, with a CAGR of +17.7%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average agricultural appliance import price amounted to $7.1 per unit, increasing by 4.2% against the previous year. In general, the import price, however, continues to indicate a noticeable decline. The most prominent rate of growth was recorded in 2017 when the average import price increased by 9.8%. Global import price peaked at $11 per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Russia ($36 per unit), while the United States ($2.2 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+13.0%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Agricultural and Horticultural Appliances for Projecting or Dispersing Liquids or Powders

In 2022, shipments abroad of agricultural appliances decreased by -14% to 352M units for the first time since 2017, thus ending a four-year rising trend. Overall, total exports indicated a notable increase from 2012 to 2022: its volume increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +98.3% against 2017 indices. The growth pace was the most rapid in 2020 when exports increased by 31%. The global exports peaked at 409M units in 2021, and then declined in the following year.

In value terms, agricultural appliance exports fell modestly to $2.7B in 2022. Over the period under review, exports continue to indicate a pronounced descent. The pace of growth appeared the most rapid in 2021 with an increase of 25%. Over the period under review, the global exports reached the peak figure at $3.5B in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports By Country

In 2022, China (65M units), followed by Spain (41M units), Turkey (37M units), Israel (36M units), Italy (32M units), the United Arab Emirates (26M units) and the United States (17M units) were the key exporters of agricultural appliances, together mixing up 72% of total exports. The following exporters - Mexico (16M units), Greece (11M units), Austria (9.9M units), France (9.7M units) and South Africa (6.3M units) - together made up 15% of total exports.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +58.4%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($710M) remains the largest agricultural appliance supplier worldwide, comprising 27% of global exports. The second position in the ranking was taken by Israel ($300M), with an 11% share of global exports. It was followed by Italy, with a 7.7% share.

From 2012 to 2022, the average annual growth rate of value in the United States totaled -3.6%. The remaining exporting countries recorded the following average annual rates of exports growth: Israel (+0.4% per year) and Italy (-1.9% per year).

Export Prices By Country

The average agricultural appliance export price stood at $7.6 per unit in 2022, picking up by 13% against the previous year. In general, the export price, however, showed a perceptible downturn. The global export price peaked at $13 per unit in 2016; however, from 2017 to 2022, the export prices remained at a 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 the United States ($43 per unit), while China ($2.6 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+14.4%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform