ASEAN: Tractor Market 2024

Tractor Market Size in ASEAN

The ASEAN tractor market contracted to $X in 2022, declining by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Tractor Production in ASEAN

In value terms, tractor production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Tractor Exports

Exports in ASEAN

In 2022, after five years of growth, there was significant decline in overseas shipments of tractors, when their volume decreased by X% to X units. Overall, exports, however, saw significant growth. The pace of growth appeared the most rapid in 2014 when exports increased by X%. Over the period under review, the exports reached the peak figure at X units in 2021, and then shrank dramatically in the following year.

In value terms, tractor exports declined to $X in 2022. Total exports indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, the exports attained the peak of $X, and then declined in the following year.

Exports by Country

Thailand was the largest exporting country with an export of about X units, which reached X% of total exports. It was distantly followed by Indonesia (X units), making up a X% share of total exports.

Exports from Thailand increased at an average annual rate of X% from 2012 to 2022. At the same time, Indonesia (X%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Indonesia and Thailand increased by X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest tractor supplier in ASEAN, comprising X% of total exports. The second position in the ranking was held by Indonesia ($X), with a X% share of total exports.

In Thailand, tractor exports increased at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

The export price in ASEAN stood at $X per unit in 2022, rising by X% against the previous year. In general, the export price, however, recorded a abrupt decline. The pace of growth was the most pronounced in 2016 an increase of X%. Over the period under review, the export prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Indonesia ($X per unit), while Thailand totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (X%).

Tractor Imports

Imports in ASEAN

In 2022, imports of tractors in ASEAN fell to X units, shrinking by X% compared with the previous year. Total imports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 when imports increased by X% against the previous year. As a result, imports attained the peak of X units. From 2016 to 2022, the growth of imports failed to regain momentum.

In value terms, tractor imports dropped to $X in 2022. Total imports indicated mild growth from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. The level of import peaked at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Cambodia (X units) and Thailand (X units) represented the main importers of tractors in ASEAN, together making up X% of total imports. The Philippines (X units) ranks next in terms of the total imports with a X% share, followed by Vietnam (X%), Malaysia (X%), Lao People's Democratic Republic (X%), Myanmar (X%) and Indonesia (X%).

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Lao People's Democratic Republic (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest tractor importing markets in ASEAN were Vietnam ($X), Thailand ($X) and Cambodia ($X), with a combined X% share of total imports. Malaysia, the Philippines, Indonesia, Lao People's Democratic Republic and Myanmar lagged somewhat behind, together accounting for a further X%.

In terms of the main importing countries, Lao People's Democratic Republic, with a CAGR of X%, saw 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 import price in ASEAN amounted to $X per unit, remaining relatively unchanged against the previous year. In general, the import price, however, continues to indicate a perceptible descent. The most prominent rate of growth was recorded in 2014 an increase of X%. As a result, import price reached the peak level of $X per unit. From 2015 to 2022, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Vietnam ($X per unit), while Myanmar ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cambodia (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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