Australia: Tractor Market 2024

Tractor Market Size in Australia

The Australian tractor market rose sharply to $X in 2022, surging by X% 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, consumption posted resilient growth. Tractor consumption peaked in 2022 and is expected to retain growth in years to come.

Tractor Exports

Exports from Australia

In 2022, shipments abroad of tractors decreased by X% to X units, falling for the seventh consecutive year after two years of growth. Overall, exports continue to indicate a deep reduction. The pace of growth appeared the most rapid in 2014 when exports increased by X%. The exports peaked at X units in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, tractor exports declined to $X in 2022. In general, exports showed a abrupt descent. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

New Zealand (X units) was the main destination for tractor exports from Australia, with a X% share of total exports. Moreover, tractor exports to New Zealand exceeded the volume sent to the second major destination, Papua New Guinea (X units), fourfold. Canada (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to New Zealand amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Papua New Guinea (X% per year) and Canada (X% per year).

In value terms, New Zealand ($X) remains the key foreign market for tractors exports from Australia, comprising X% of total exports. The second position in the ranking was held by Papua New Guinea ($X), with a X% share of total exports. It was followed by Chile, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to New Zealand stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Papua New Guinea (X% per year) and Chile (X% per year).

Export Prices by Country

The average tractor export price stood at $X per unit in 2022, with a decrease of X% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of X%. Over the period under review, the average export prices attained the maximum at $X per unit in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was New Zealand ($X per unit), while the average price for exports to Belgium ($X 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 Belgium (X%), while the prices for the other major destinations experienced more modest paces of growth.

Tractor Imports

Imports into Australia

Tractor imports into Australia rose sharply to X units in 2022, increasing by X% on the previous year's figure. In general, total imports indicated a moderate expansion 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. Based on 2022 figures, imports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, tractor imports rose remarkably to $X in 2022. Over the period under review, imports recorded a remarkable increase. The growth pace was the most rapid in 2021 when imports increased by X%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

Japan (X units), the United States (X units) and South Korea (X units) were the main suppliers of tractor imports to Australia, with a combined X% share of total imports. Germany, India, China, Italy, France, the UK, Turkey, the Netherlands, Thailand and Austria lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of tractors to Australia, comprising X% of total imports. The second position in the ranking was held by Germany ($X), with a X% share of total imports. It was followed by Japan, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Japan (X% per year).

Import Prices by Country

The average tractor import price stood at $X per unit in 2022, waning by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2019 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per unit. From 2020 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per unit), while the price for Thailand ($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 (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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