ASEAN: Market for Agricultural And Forestry Tractors 2025

Market Size for Agricultural And Forestry Tractors in ASEAN

The ASEAN agricultural and forestry tractor market expanded significantly to $X in 2021, with an increase of 14% against the previous year. The market value increased at an average annual rate of +1.5% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Production of Agricultural And Forestry Tractors in ASEAN

In value terms, agricultural and forestry tractor production expanded notably to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.6% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when the production volume increased by 18%. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Exports of Agricultural And Forestry Tractors

Exports in ASEAN

In 2021, exports of agricultural and forestry tractors in ASEAN rose notably to X units, growing by 7.9% compared with the previous year's figure. Over the period under review, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 103%. The volume of export peaked in 2021 and is expected to retain growth in the near future.

In value terms, agricultural and forestry tractor exports soared to $X in 2021. Overall, exports saw a strong expansion. The pace of growth appeared the most rapid in 2015 with an increase of 46% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in years to come.

Exports by Country

Thailand was the largest exporting country with an export of about X units, which accounted for 76% of total exports. It was distantly followed by Indonesia (X units), generating a 20% share of total exports. Vietnam (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to agricultural and forestry tractor exports from Thailand stood at +24.6%. At the same time, Indonesia (+108.9%) and Vietnam (+8.0%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +108.9% from 2012-2021. Indonesia (+20 p.p.) significantly strengthened its position in terms of the total exports, while Thailand and Vietnam saw its share reduced by -3.9% and -6% from 2012 to 2021, respectively.

In value terms, Thailand ($X) remains the largest agricultural and forestry tractor supplier in ASEAN, comprising 73% of total exports. The second position in the ranking was held by Indonesia ($X), with a 24% share of total exports.

In Thailand, agricultural and forestry tractor exports expanded at an average annual rate of +11.8% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Indonesia (+91.1% per year) and Vietnam (-1.4% per year).

Export Prices by Country

The export price in ASEAN stood at $X per unit in 2021, growing by 23% against the previous year. Overall, the export price, however, recorded a abrupt decline. Over the period under review, the export prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Indonesia ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (-8.5%), while the other leaders experienced a decline in the export price figures.

Imports of Agricultural And Forestry Tractors

Imports in ASEAN

In 2021, agricultural and forestry tractor imports in ASEAN rose sharply to X units, picking up by 12% compared with 2020 figures. Over the period under review, imports saw buoyant growth. The pace of growth was the most pronounced in 2018 with an increase of 20% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in years to come.

In value terms, agricultural and forestry tractor imports soared to $X in 2021. The total import value increased at an average annual rate of +1.2% over the period from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Thailand was the largest importer of agricultural and forestry tractors in ASEAN, with the volume of imports accounting for X units, which was approx. 37% of total imports in 2021. The Philippines (X units) ranks second in terms of the total imports with a 16% share, followed by Cambodia (14%), Malaysia (10%), Myanmar (6.9%), Vietnam (6.1%) and Indonesia (5.8%).

Imports into Thailand increased at an average annual rate of +7.1% from 2012 to 2021. At the same time, the Philippines (+24.0%), Cambodia (+23.5%), Myanmar (+8.1%), Indonesia (+5.1%) and Vietnam (+1.4%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +24.0% from 2012-2021. By contrast, Malaysia (-2.0%) illustrated a downward trend over the same period. The Philippines (+11 p.p.) and Cambodia (+10 p.p.) significantly strengthened its position in terms of the total imports, while Indonesia, Thailand, Vietnam and Malaysia saw its share reduced by -1.6%, -2.7%, -4.6% and -13.9% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest agricultural and forestry tractor importing markets in ASEAN were Thailand ($X), Cambodia ($X) and the Philippines ($X), with a combined 68% share of total imports.

The Philippines, with a CAGR of +29.2%, saw the highest growth rate of the value of imports, among 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

The import price in ASEAN stood at $X per unit in 2021, surging by 22% against the previous year. In general, the import price, however, showed a abrupt setback. Over the period under review, import prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Indonesia ($X per unit), while Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+4.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform