United Kingdom: Plough Market 2024

Plough Market Size in the UK

The UK plough market contracted significantly to $X in 2022, which is down 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). In general, consumption, however, showed a relatively flat trend pattern. Plough consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Plough Exports

Exports from the UK

In 2022, approx. X units of ploughs for agricultural purposes were exported from the UK; almost unchanged from 2021 figures. Overall, exports, however, continue to indicate a slight slump. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, plough exports expanded to $X in 2022. In general, exports, however, recorded a mild downturn. The pace of growth appeared the most rapid in 2021 with an increase of X%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Poland (X units), New Zealand (X units) and Canada (X units) were the main destinations of plough exports from the UK, together comprising X% of total exports. Bulgaria, Cyprus, Ireland, Germany, Romania, Australia, Kenya, Spain, Lithuania and France 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 Cyprus (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for plough exported from the UK were Ireland ($X), New Zealand ($X) and Germany ($X), together accounting for X% of total exports. Bulgaria, Australia, Lithuania, Poland, Cyprus, Romania, Spain, France, Kenya and Canada lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, Cyprus, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, 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 plough export price amounted to $X per unit, growing by X% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2017 to 2022, the average export prices failed to regain momentum.

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

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Plough Imports

Imports into the UK

In 2022, plough imports into the UK contracted to X units, which is down by X% against the year before. In general, imports showed a mild contraction. The pace of growth was the most pronounced in 2018 when imports increased by X%. As a result, imports reached the peak of X units. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, plough imports reduced markedly to $X in 2022. Overall, imports saw a mild reduction. The pace of growth was the most pronounced in 2013 when imports increased by X%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Norway (X units), Germany (X units) and France (X units) were the main suppliers of plough imports to the UK, together accounting for X% of total imports. Ireland, Sweden, China and the Czech Republic lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Czech Republic (with a CAGR of X%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest plough suppliers to the UK were Norway ($X), Germany ($X) and France ($X), together accounting for X% of total imports. Ireland, Sweden, the Czech Republic and China lagged somewhat behind, together comprising a further X%.

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

Import Prices by Country

The average plough import price stood at $X per unit in 2022, stabilizing at the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per unit), while the price for China ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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