Middle East: Tractor Market 2024

Tractor Market Size in the Middle East

The Middle Eastern tractor market dropped to $X in 2022, reducing by X% against the previous year. The total consumption indicated noticeable 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, consumption increased by X% against 2020 indices. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Tractor Production in the Middle East

In value terms, tractor production contracted modestly to $X in 2022 estimated in export price. Over the period under review, production, however, saw a prominent increase. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Tractor Exports

Exports in the Middle East

In 2022, tractor exports in the Middle East rose remarkably to X units, picking up by X% against the year before. In general, exports posted a prominent increase. The pace of growth appeared the most rapid in 2020 when exports increased by X%. Over the period under review, the exports hit record highs at X units in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, tractor exports declined to $X in 2022. Over the period under review, exports enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, the exports attained the maximum at $X in 2021, and then reduced in the following year.

Exports by Country

Turkey was the main exporter of tractors in the Middle East, with the volume of exports amounting to X units, which was approx. X% of total exports in 2022. Kuwait (X units) ranks second in terms of the total exports with an X% share, followed by the United Arab Emirates (X%). Oman (X units) followed a long way behind the leaders.

Exports from Turkey increased at an average annual rate of X% from 2012 to 2022. At the same time, Kuwait (X%) and Oman (X%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2022. The United Arab Emirates experienced a relatively flat trend pattern. From 2012 to 2022, the share of Turkey and Kuwait increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest tractor supplier in the Middle East, comprising X% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total exports. It was followed by Oman, with a X% share.

In Turkey, tractor exports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United Arab Emirates (X% per year) and Oman (X% per year).

Export Prices by Country

The export price in the Middle East stood at $X per unit in 2022, waning by X% against the previous year. Overall, the export price, however, continues to indicate measured growth. The pace of growth appeared the most rapid in 2019 an increase of X%. The level of export peaked at $X per unit in 2021, and then declined significantly in the following year.

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

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

Tractor Imports

Imports in the Middle East

In 2022, overseas purchases of tractors decreased by X% to X units for the first time since 2018, thus ending a three-year rising trend. Total imports indicated a slight 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. Based on 2022 figures, imports increased by X% against 2018 indices. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. The volume of import peaked at X units in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, tractor imports contracted significantly to $X in 2022. In general, imports, however, posted slight growth. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of $X, and then contracted significantly in the following year.

Imports by Country

In 2022, Turkey (X units), distantly followed by Iran (X units), Saudi Arabia (X units), the United Arab Emirates (X units), Iraq (X units) and Kuwait (X units) represented the key importers of tractors, together creating X% of total imports. The following importers - Oman (X units) and Israel (X units) - each reached a X% share of total imports.

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

In value terms, Turkey ($X), Iran ($X) and Saudi Arabia ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined X% share of total imports. The United Arab Emirates, Oman, Iraq, Israel and Kuwait lagged somewhat behind, together comprising a further X%.

Kuwait, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries 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 the Middle East amounted to $X per unit, shrinking by X% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the import price increased by X%. As a result, import price reached the peak level of $X per unit, and then reduced dramatically in the following year.

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 Israel ($X per unit), while Kuwait ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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