Luxembourg: Tractor Market 2024

Tractor Market Size in Luxembourg

The Luxembourg tractor market surged to $X in 2022, growing by X% against the previous year. Over the period under review, consumption showed significant growth. Tractor consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Tractor Production in Luxembourg

In value terms, tractor production rose markedly to $X in 2022 estimated in export price. Over the period under review, production posted temperate growth. The pace of growth was the most pronounced in 2017 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Tractor Exports

Exports from Luxembourg

In 2022, shipments abroad of tractors decreased by X% to X units, falling for the second year in a row after three years of growth. In general, exports, however, posted a strong expansion. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. As a result, the exports reached the peak of X units. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, tractor exports fell notably to $X in 2022. Over the period under review, exports, however, showed a remarkable increase. The growth pace was the most rapid in 2020 when exports increased by X%. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Belgium (X units), Germany (X units) and France (X units) were the main destinations of tractor exports from Luxembourg, together comprising X% of total exports. Romania, the Netherlands and Poland lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Romania (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for tractor exported from Luxembourg were France ($X), Belgium ($X) and Germany ($X), together comprising X% of total exports. Romania, the Netherlands and Poland lagged somewhat behind, together accounting for a further X%.

Romania, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average tractor export price amounted to $X per unit, rising by X% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was France ($X per unit), while the average price for exports to Poland ($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 Romania (X%), while the prices for the other major destinations experienced more modest paces of growth.

Tractor Imports

Imports into Luxembourg

In 2022, after five years of growth, there was significant decline in supplies from abroad of tractors, when their volume decreased by X% to X units. In general, imports recorded a pronounced contraction. The most prominent rate of growth was recorded in 2020 with an increase of X%. Over the period under review, imports reached the maximum at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, tractor imports dropped notably to $X in 2022. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when imports increased by X%. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Belgium (X units) constituted the largest supplier of tractor to Luxembourg, with a X% share of total imports. Moreover, tractor imports from Belgium exceeded the figures recorded by the second-largest supplier, Germany (X units), twofold. France (X units) ranked third in terms of total imports with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Belgium amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and France (X% per year).

In value terms, Belgium ($X), Germany ($X) and France ($X) were the largest tractor suppliers to Luxembourg, with a combined X% share of total imports.

In terms of the main suppliers, Belgium, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average tractor import price amounted to $X per unit, approximately mirroring the previous year. Over the period under review, import price indicated a temperate 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, tractor import price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2013 an increase of X% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Belgium ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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