Asia: Market for Agricultural And Forestry Tractors 2025

Market Size for Agricultural And Forestry Tractors in Asia

In 2021, the Asian agricultural and forestry tractor market decreased by -10.1% to $X, falling for the third consecutive year after three years of growth. The total consumption indicated measured growth from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -19.0% against 2018 indices. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Production of Agricultural And Forestry Tractors in Asia

In value terms, agricultural and forestry tractor production totaled $X in 2021 estimated in export price. The total production indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +5.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -7.3% against 2018 indices. The most prominent rate of growth was recorded in 2016 with an increase of 39%. The level of production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Exports of Agricultural And Forestry Tractors

Exports in Asia

In 2021, exports of agricultural and forestry tractors in Asia surged to X units, picking up by 53% against 2020. Overall, exports posted a resilient increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, agricultural and forestry tractor exports soared to $X in 2021. Total exports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The shipments of the three major exporters of agricultural and forestry tractors, namely India, Japan and South Korea, represented more than two-thirds of total export. China (X units) ranks next in terms of the total exports with a 12% share, followed by Thailand (6.5%). Turkey (X units) and Indonesia (X units) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Indonesia (with a CAGR of +108.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest agricultural and forestry tractor supplying countries in Asia were Japan ($X), India ($X) and South Korea ($X), with a combined 71% share of total exports. China, Turkey, Thailand and Indonesia lagged somewhat behind, together comprising a further 27%.

Indonesia, with a CAGR of +91.1%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Asia amounted to $X per unit, which is down by -5.9% against the previous year. Over the period under review, the export price showed a pronounced descent. The pace of growth was the most pronounced in 2019 when the export price increased by 8.9% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Turkey ($X per unit), while India ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+1.4%), while the other leaders experienced a decline in the export price figures.

Imports of Agricultural And Forestry Tractors

Imports in Asia

After four years of growth, supplies from abroad of agricultural and forestry tractors decreased by -50.8% to X units in 2021. Overall, imports faced a deep setback. The most prominent rate of growth was recorded in 2019 with an increase of 55% against the previous year. Over the period under review, imports attained the peak figure at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, agricultural and forestry tractor imports soared to $X in 2021. The total import value increased at an average annual rate of +2.1% 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 attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Qatar (X units) represented the largest importer of agricultural and forestry tractors, mixing up 28% of total imports. Thailand (X units) ranks second in terms of the total imports with a 9.5% share, followed by Bangladesh (9.4%), Turkey (6.4%) and India (6.1%). Sri Lanka (X units), the Philippines (X units), Cambodia (X units), Malaysia (X units), South Korea (X units), Pakistan (X units), Japan (X units) and Myanmar (X units) held a little share of total imports.

Imports into Qatar decreased at an average annual rate of -21.5% from 2012 to 2021. At the same time, the Philippines (+24.0%), Cambodia (+23.5%), Bangladesh (+18.2%), India (+16.3%), Myanmar (+8.1%), Thailand (+7.1%), South Korea (+6.3%), Sri Lanka (+4.1%) and Turkey (+1.1%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in Asia, with a CAGR of +24.0% from 2012-2021. Pakistan and Japan experienced a relatively flat trend pattern. By contrast, Malaysia (-2.0%) illustrated a downward trend over the same period. Bangladesh (+8.7 p.p.), Thailand (+7.8 p.p.), India (+5.6 p.p.), Turkey (+4.5 p.p.), the Philippines (+3.8 p.p.), Cambodia (+3.5 p.p.), Sri Lanka (+3.4 p.p.), South Korea (+2 p.p.) and Malaysia (+1.5 p.p.) significantly strengthened its position in terms of the total imports, while Qatar saw its share reduced by -56.2% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X), Thailand ($X) and South Korea ($X) constituted the countries with the highest levels of imports in 2021, with a combined 34% share of total imports. Japan, Cambodia, the Philippines, Bangladesh, Sri Lanka, India, Myanmar, Malaysia, Pakistan and Qatar lagged somewhat behind, together accounting for a further 33%.

Among the main importing countries, the Philippines, with a CAGR of +29.2%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Asia amounted to $X per unit, with an increase of 188% against the previous year. Over the period under review, the import price enjoyed strong growth. Over the period under review, import prices attained the maximum at $X per unit in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Qatar (+4.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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