Southern Asia: Market for Agricultural And Forestry Tractors 2024

Market Size for Agricultural And Forestry Tractors in Southern Asia

In 2022, the South Asian agricultural and forestry tractor market was finally on the rise to reach $X for the first time since 2017, thus ending a four-year declining trend. In general, consumption, however, saw a perceptible slump. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Production of Agricultural And Forestry Tractors in Southern Asia

In value terms, agricultural and forestry tractor production contracted slightly to $X in 2022 estimated in export price. In general, production recorded a noticeable curtailment. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Agricultural And Forestry Tractors

Exports in Southern Asia

In 2022, agricultural and forestry tractor exports in Southern Asia dropped notably to X units, which is down by X% on the previous year. Overall, exports, however, showed a measured increase. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of X units, and then dropped sharply in the following year.

In value terms, agricultural and forestry tractor exports surged to $X in 2022. In general, exports, however, enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The level of export peaked in 2022 and is likely to see steady growth in the immediate term.

Exports by Country

India dominates exports structure, finishing at X units, which was near X% of total exports in 2022. Pakistan (X units) followed a long way behind the leaders.

India was also the fastest-growing in terms of the agricultural and forestry tractors exports, with a CAGR of X% from 2012 to 2022. Pakistan experienced a relatively flat trend pattern. India (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) remains the largest agricultural and forestry tractor supplier in Southern Asia, comprising X% of total exports. The second position in the ranking was taken by Pakistan ($X), with a X% share of total exports.

In India, agricultural and forestry tractor exports expanded at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

The export price in Southern Asia stood at $X per unit in 2022, jumping by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The level of export peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was India ($X per unit), while Pakistan totaled $X per unit.

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

Imports of Agricultural And Forestry Tractors

Imports in Southern Asia

In 2022, the amount of agricultural and forestry tractors imported in Southern Asia contracted dramatically to X units, which is down by X% compared with 2021. Total imports indicated a tangible 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. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. As a result, imports reached the peak of X units. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, agricultural and forestry tractor imports dropped remarkably to $X in 2022. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of $X, and then dropped remarkably in the following year.

Imports by Country

India (X units) and Bangladesh (X units) prevails in imports structure, together creating X% of total imports. It was distantly followed by Sri Lanka (X units) and Afghanistan (X units), together comprising a X% share of total imports. Pakistan (X units) followed a long way behind the leaders.

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

In value terms, Bangladesh ($X), India ($X) and Sri Lanka ($X) were the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

India, with a CAGR of X%, recorded 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 Southern Asia amounted to $X per unit, dropping by X% against the previous year. Overall, the import price saw a noticeable decline. The pace of growth appeared the most rapid in 2016 an increase of X% against the previous year. As a result, import price attained the peak level of $X per unit. From 2017 to 2022, the import prices remained at a somewhat lower figure.

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 Sri Lanka ($X per unit), while India ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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