Asia: Agricultural Appliance Market 2024

Agricultural Appliance Market Size in Asia

The Asian agricultural appliance market shrank notably to $X in 2021, declining by -38.3% against the previous year. In general, consumption, however, enjoyed strong growth. The level of consumption peaked at $X in 2020, and then declined dramatically in the following year.

Agricultural Appliance Production in Asia

In value terms, agricultural appliance production declined to $X in 2021 estimated in export price. The total production indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +3.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +15.2% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of 55%. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2021, production stood at a somewhat lower figure.

Agricultural Appliance Exports

Exports in Asia

In 2021, shipments abroad of agricultural appliances increased by 57% to X units, rising for the third year in a row after two years of decline. Total exports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +7.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +86.2% against 2018 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, agricultural appliance exports soared to $X in 2021. Total exports indicated a temperate expansion from 2012 to 2021: its value increased at an average annual rate of +2.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +74.9% against 2019 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Turkey (X units), distantly followed by China (X units), Israel (X units), Saudi Arabia (X units) and India (X units) were the key exporters of agricultural appliances, together mixing up 94% of total exports. The United Arab Emirates (X units) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of +89.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest agricultural appliance supplying countries in Asia were Turkey ($X), Israel ($X) and China ($X), with a combined 85% share of total exports.

Turkey, with a CAGR of +46.9%, recorded the highest rates of growth with regard to the value of exports, in terms of 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, remaining stable against the previous year. Over the period under review, the export price recorded a noticeable shrinkage. The most prominent rate of growth was recorded in 2014 an increase of 5.4% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2015 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Israel ($X per unit), while India ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+6.4%), while the other leaders experienced more modest paces of growth.

Agricultural Appliance Imports

Imports in Asia

In 2021, overseas purchases of agricultural appliances increased by 29% to X units, rising for the third year in a row after two years of decline. Total imports indicated a perceptible increase from 2012 to 2021: its volume increased at an average annual rate of +2.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +113.3% against 2018 indices. The most prominent rate of growth was recorded in 2020 with an increase of 59%. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, agricultural appliance imports soared to $X in 2021. Total imports indicated a modest expansion from 2012 to 2021: its value increased at an average annual rate of +1.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +60.0% against 2019 indices. The pace of growth was the most pronounced in 2020 when imports increased by 29% against the previous year. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2021, imports failed to regain momentum.

Imports by Country

Uzbekistan represented the main importing country with an import of about X units, which reached 32% of total imports. Iraq (X units) ranks second in terms of the total imports with a 16% share, followed by India (12%), Qatar (6.5%), Turkey (5.5%) and Kazakhstan (4.9%). The United Arab Emirates (X units), Turkmenistan (X units), Thailand (X units) and Japan (X units) took a relatively small share of total imports.

From 2012 to 2021, the biggest increases were recorded for Uzbekistan (with a CAGR of +112.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Uzbekistan ($X) constitutes the largest market for imported agricultural appliances in Asia, comprising 34% of total imports. The second position in the ranking was taken by India ($X), with a 14% share of total imports. It was followed by Turkey, with a 6% share.

In Uzbekistan, agricultural appliance imports expanded at an average annual rate of +75.3% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: India (+7.1% per year) and Turkey (-5.1% per year).

Import Prices by Country

In 2021, the import price in Asia amounted to $X per unit, which is down by -4.4% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 28%. As a result, import price attained the peak level of $X per unit. From 2019 to 2021, the import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+6.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform