Overview of the Global Market for Agricultural And Forestry Tractors

Market Size for Agricultural And Forestry Tractors

After two years of growth, the global agricultural and forestry tractor market decreased by X% to $X.3B in 2022. Overall, consumption saw a sharp downturn. As a result, consumption attained the peak level of $X.5B. From 2014 to 2022, the growth of the global market remained at a lower figure.

Production of Agricultural And Forestry Tractors

In value terms, agricultural and forestry tractor production expanded to $X.8B in 2022 estimated in export price. Overall, production faced a sharp slump. The pace of growth appeared the most rapid in 2013 with an increase of X%. As a result, production attained the peak level of $X.3B. From 2014 to 2022, global production growth remained at a lower figure.

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Exports of Agricultural And Forestry Tractors

Exports

After two years of growth, overseas shipments of agricultural and forestry tractors decreased by X% to X units in 2022. In general, total exports indicated modest growth 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, exports increased by X% against 2018 indices. The growth pace was the most rapid in 2021 when exports increased by X%. As a result, the exports attained the peak of X units, and then dropped slightly in the following year.

In value terms, agricultural and forestry tractor exports stood at $X in 2022. Overall, total exports indicated perceptible 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, exports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 when exports increased by X%. The global exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Japan (X units), India (X units), the Netherlands (X units), South Korea (X units), Germany (X units), the UK (X units), the United States (X units), China (X units), France (X units), Italy (X units), Thailand (X units) and Turkey (X units) represented roughly X% of total exports in 2022.

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

In value terms, Germany ($X) remains the largest agricultural and forestry tractor supplier worldwide, comprising X% of global exports. The second position in the ranking was held by the United States ($X), with a X% share of global exports. It was followed by France, with an X% share.

In Germany, agricultural and forestry tractor exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: the United States (X% per year) and France (X% per year).

Export Prices by Country

The average agricultural and forestry tractor export price stood at $X per unit in 2022, increasing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The global export price peaked at $X per unit in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per unit), while the Netherlands ($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 other global leaders experienced more modest paces of growth.

Imports of Agricultural And Forestry Tractors

Imports

In 2022, supplies from abroad of agricultural and forestry tractors increased by X% to X units, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Global imports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, agricultural and forestry tractor imports surged to $X in 2022. Over the period under review, total imports indicated a pronounced expansion 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, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, global imports reached the maximum in 2022 and are likely to see steady growth in the near future.

Imports by Country

The United States was the key importer of agricultural and forestry tractors in the world, with the volume of imports finishing at X units, which was near X% of total imports in 2022. Canada (X units) held a X% share (based on physical terms) of total imports, which put it in second place, followed by France (X%). Belgium (X units), Germany (X units), the UK (X units), Poland (X units), the Netherlands (X units), Australia (X units), Thailand (X units), Italy (X units), Spain (X units) and Ukraine (X units) followed a long way behind the leaders.

Imports into the United States increased at an average annual rate of X% from 2012 to 2022. At the same time, Thailand (X%), Poland (X%), Belgium (X%), Canada (X%), Spain (X%), Australia (X%) and Italy (X%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing importer imported in the world, with a CAGR of X% from 2012-2022. Ukraine and France experienced a relatively flat trend pattern. By contrast, Germany (X%), the Netherlands (X%) and the UK (X%) illustrated a downward trend over the same period. While the share of the United States (X p.p.) increased significantly in terms of the global imports from 2012-2022, the share of the Netherlands (X p.p.), Germany (X p.p.) and the UK (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported agricultural and forestry tractors worldwide, comprising X% of global imports. The second position in the ranking was taken by France ($X), with an X% share of global imports. It was followed by Canada, with a X% share.

From 2012 to 2022, the average annual growth rate of value in the United States amounted to X%. In the other countries, the average annual rates were as follows: France (X% per year) and Canada (X% per year).

Import Prices by Country

The average agricultural and forestry tractor import price stood at $X per unit in 2022, rising by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is likely to continue growth in years to come.

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 France ($X per unit), while Thailand ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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