GCC: Market for Agricultural And Forestry Tractors 2024

Market Size for Agricultural And Forestry Tractors in GCC

The GCC agricultural and forestry tractor market contracted to $X in 2022, waning by X% against the previous year. Over the period under review, consumption faced a abrupt descent. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Production of Agricultural And Forestry Tractors in GCC

In value terms, agricultural and forestry tractor production reduced to $X in 2022 estimated in export price. In general, production faced a abrupt curtailment. The pace of growth appeared the most rapid in 2017 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Agricultural And Forestry Tractors

Exports in GCC

In 2022, agricultural and forestry tractor exports in GCC expanded sharply to X units, growing by X% against 2021. Over the period under review, exports saw a significant increase. The growth pace was the most rapid in 2013 when exports increased by X%. The volume of export peaked in 2022 and is expected to retain growth in years to come.

In value terms, agricultural and forestry tractor exports declined markedly to $X in 2022. In general, exports posted a resilient increase. The pace of growth appeared the most rapid in 2013 when exports increased by X%. The level of export peaked at $X in 2021, and then reduced rapidly in the following year.

Exports by Country

In 2022, Saudi Arabia (X units) was the largest exporter of agricultural and forestry tractors, mixing up X% of total exports. The United Arab Emirates (X units) ranks second in terms of the total exports with a X% share, followed by Kuwait (X%).

Saudi Arabia was also the fastest-growing in terms of the agricultural and forestry tractors exports, with a CAGR of X% from 2012 to 2022. At the same time, the United Arab Emirates (X%) displayed positive paces of growth. By contrast, Kuwait (X%) illustrated a downward trend over the same period. While the share of Saudi Arabia (X p.p.) and Kuwait (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the United Arab Emirates (X p.p.) displayed negative dynamics.

In value terms, Saudi Arabia ($X), the United Arab Emirates ($X) and Kuwait ($X) constituted the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

Among the main exporting countries, Saudi Arabia, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per unit, which is down by X% against the previous year. Overall, the export price continues to indicate a perceptible decline. The pace of growth appeared the most rapid in 2021 when the export price increased by X% against the previous year. Over the period under review, the export prices reached the maximum at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Kuwait ($X per unit), while Saudi Arabia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (X%), while the other leaders experienced a decline in the export price figures.

Imports of Agricultural And Forestry Tractors

Imports in GCC

In 2022, approx. X units of agricultural and forestry tractors were imported in GCC; with a decrease of X% on the previous year's figure. Over the period under review, imports showed a pronounced slump. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. As a result, imports reached the peak of X units. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, agricultural and forestry tractor imports fell notably to $X in 2022. In general, imports saw a noticeable setback. The pace of growth appeared the most rapid in 2015 when imports increased by X%. The level of import peaked at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the United Arab Emirates (X units) represented the key importer of agricultural and forestry tractors, constituting X% of total imports. Kuwait (X units) took the second position in the ranking, distantly followed by Qatar (X units). All these countries together took approx. X% share of total imports. Oman (X units) followed a long way behind the leaders.

The United Arab Emirates was also the fastest-growing in terms of the agricultural and forestry tractors imports, with a CAGR of X% from 2012 to 2022. At the same time, Kuwait (X%) displayed positive paces of growth. By contrast, Oman (X%) and Qatar (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United Arab Emirates, Kuwait and Oman increased by X, X and X percentage points, respectively.

In value terms, the largest agricultural and forestry tractor importing markets in GCC were Kuwait ($X), the United Arab Emirates ($X) and Qatar ($X), together accounting for X% of total imports.

Kuwait, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in GCC stood at $X per unit in 2022, shrinking by X% against the previous year. Import price indicated a modest expansion from 2012 to 2022: its price 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, agricultural and forestry tractor import price decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2015 when the import price increased by X% against the previous year. The level of import peaked at $X per unit in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

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 Kuwait ($X per unit), while the United Arab Emirates ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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