Report Update: Apr 1, 2024

Hong Kong SAR, China - Tractors - Market Analysis, Forecast, Size, Trends and Insights

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Tractor Price in Hong Kong SAR - 2023

Tractor Price in Hong Kong SAR (CIF) - 2022

In 2022, the average tractor import price amounted to $34,042 per unit, waning by -28.8% against the previous year. Over the period under review, the import price recorded a abrupt decline. The pace of growth appeared the most rapid in 2021 an increase of 66%. Over the period under review, average import prices attained the peak figure at $76,461 per unit in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Sweden ($86,590 per unit), while the price for the UK ($9,893 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+13.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Tractor Price in Hong Kong SAR (FOB) - 2022

The average tractor export price stood at $4,936 per unit in 2022, with a decrease of -45.5% against the previous year. Over the period under review, the export price saw a abrupt downturn. The pace of growth appeared the most rapid in 2019 an increase of 99% against the previous year. The export price peaked at $17,555 per unit in 2020; however, from 2021 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 Taiwan (Chinese) ($333,171 per unit), while the average price for exports to Belize ($1,477 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 Guyana (+845.2%), while the prices for the other major destinations experienced more modest paces of growth.

Tractor Imports in Hong Kong SAR

In 2022, the amount of tractors imported into Hong Kong SAR rose notably to 384 units, increasing by 8.2% compared with 2021. Overall, imports, however, continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2021 with an increase of 18%. Imports peaked at 558 units in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, tractor imports declined markedly to $13M in 2022. In general, imports, however, recorded a dramatic curtailment. The most prominent rate of growth was recorded in 2021 with an increase of 95%. Imports peaked at $30M in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Import of Tractor in Hong Kong SAR (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Belgium	10.7	1.1	5.5	3.3	-32.4%
Japan	2.4	1.1	4.5	2.8	5.3%
Sweden	2.2	2.1	3.1	2.4	2.9%
Germany	0.7	0.2	1.6	1.0	12.6%
United States	1.6	0.1	0.6	0.6	-27.9%
China	1.6	0.2	0.2	0.6	-27.9%
France	0.2	0.2	0.1	0.4	26.0%
United Kingdom	0.1	N/A	0.3	0.1	0.0%
Others	10.9	3.7	1.1	1.9	-44.1%
Total	30.4	8.7	17.0	13.1	-24.5%

Top Suppliers of Tractor to Hong Kong SAR in 2022:

Japan (66.0 units)
Belgium (52.0 units)
China (52.0 units)
Sweden (28.0 units)
United States (24.0 units)
Germany (16.0 units)
United Kingdom (9.0 units)
France (5.0 units)

Tractor Exports in Hong Kong SAR

In 2022, exports of tractors from Hong Kong SAR soared to 177 units, increasing by 50% compared with the previous year. Overall, exports recorded a strong increase. The growth pace was the most rapid in 2021 with an increase of 107%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, tractor exports fell sharply to $874K in 2022. In general, exports, however, faced a abrupt decline. The most prominent rate of growth was recorded in 2021 when exports increased by 6.8%. Over the period under review, the exports hit record highs at $1.6M in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Export of Tractor in Hong Kong SAR (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Taiwan (Chinese)	N/A	101	N/A	333	81.6%
Malaysia	635	43.5	112	143	-39.2%
Myanmar	N/A	N/A	N/A	90.2	0%
Philippines	79.1	4.5	16.6	23.0	-33.8%
Australia	N/A	N/A	12.5	15.0	20.0%
Belize	N/A	N/A	N/A	7.4	0%
United Kingdom	N/A	N/A	0.3	3.9	1200.0%
Seychelles	N/A	29.7	1.6	N/A	-94.6%
Ecuador	N/A	N/A	225	N/A	0%
Germany	317	N/A	N/A	N/A	0%
Zimbabwe	N/A	N/A	142	N/A	0%
Austria	N/A	N/A	37.1	N/A	0%
Azerbaijan	72.7	N/A	N/A	N/A	0%
Others	486	822	521	258	-19.0%
Total	1,590	1,001	1,069	874	-18.1%

Top Export Markets for Tractor from Hong Kong SAR in 2022:

Myanmar (24.0 units)
Malaysia (8.0 units)
Belize (5.0 units)
Philippines (2.0 units)
Australia (1.0 units)
Taiwan (Chinese) (1.0 units)
United Kingdom (1.0 units)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the tractor market in Hong Kong SAR, China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 28301000 - Pedestrian-controlled tractors
Prodcom 28302100 - New agricultural and forestry tractors, wheeled, of an engine power . .37 kW
Prodcom 28302200 - New agricultural and forestry tractors, wheeled, of an engine power > .37 kW but . .59 kW (excluding pedestrian-controlled tractors)
Prodcom 28302330 - New agricultural and forestry tractors, wheeled, of an engine power > .59 kW but . .75 kW (excluding pedestrian-controlled tractors)
Prodcom 28302350 - New agricultural and forestry tractors, wheeled, of an engine power > .75 kW but . .90 kW (excluding pedestrian-controlled tractors)
Prodcom 28302370 - New agricultural and forestry tractors, wheeled, of an engine power > .90 kW (excluding pedestrian-controlled tractors)
Prodcom 28302390 - New tractors excluding agricultural/forestry tractors, wheeled, p edestrian-controlled tractors - road tractors for semi-trailers, t rack-laying tractors -tractors used on railway platforms
Prodcom 28925000 - (Crawler tractors) Track-laying tractors
Prodcom 29104300 - Road tractors for semi-trailers

Country coverage:

Hong Kong SAR

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Hong Kong SAR, China
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023