Asia-Pacific: Market for Agricultural And Forestry Tractors 2025

Market Size for Agricultural And Forestry Tractors in Asia-Pacific

In 2021, the Asia-Pacific agricultural and forestry tractor market decreased by -11.5% to $X, falling for the third consecutive year after three years of growth. The total consumption indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +3.8% 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 -19.7% against 2018 indices. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Production of Agricultural And Forestry Tractors in Asia-Pacific

In value terms, agricultural and forestry tractor production stood at $X in 2021 estimated in export price. The total production indicated a resilient expansion 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 -6.9% against 2018 indices. The pace of growth was the most pronounced in 2016 when the production volume increased by 33%. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Exports of Agricultural And Forestry Tractors

Exports in Asia-Pacific

Agricultural and forestry tractor exports surged to X units in 2021, rising by 56% on the previous year. Over the period under review, exports recorded buoyant growth. 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 surged to $X in 2021. Total exports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, India (X units), Japan (X units) and South Korea (X units) was the largest exporter of agricultural and forestry tractors in Asia-Pacific, creating 77% of total export. It was distantly followed by China (X units) and Thailand (X units), together mixing up a 19% share of total exports. Indonesia (X units) took a little share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Indonesia (with a CAGR of +108.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest agricultural and forestry tractor supplying countries in Asia-Pacific were Japan ($X), India ($X) and South Korea ($X), with a combined 78% share of total exports. China, Thailand and Indonesia lagged somewhat behind, together accounting for a further 20%.

Indonesia, with a CAGR of +91.1%, saw the highest rates of growth with regard to 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

The export price in Asia-Pacific stood at $X per unit in 2021, reducing by -6.6% against the previous year. Overall, the export price continues to indicate a pronounced contraction. The pace of growth appeared the most rapid in 2019 when the export price increased by 9% against the previous year. Over the period under review, the export prices attained the maximum at $X per unit in 2015; however, from 2016 to 2021, the export prices stood at a somewhat 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 Japan ($X per unit), while India ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-0.9%), while the other leaders experienced a decline in the export price figures.

Imports of Agricultural And Forestry Tractors

Imports in Asia-Pacific

In 2021, agricultural and forestry tractor imports in Asia-Pacific soared to X units, picking up by 30% compared with the year before. Total imports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +5.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, agricultural and forestry tractor imports surged to $X in 2021. The total import value increased at an average annual rate of +2.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The countries with the highest levels of agricultural and forestry tractor imports in 2021 were Australia (X units), Thailand (X units) and Bangladesh (X units), together accounting for 43% of total import. India (X units) held the next position in the ranking, followed by Sri Lanka (X units), the Philippines (X units) and Cambodia (X units). All these countries together held near 26% share of total imports. New Zealand (X units), Malaysia (X units), South Korea (X units), Pakistan (X units), Japan (X units) and Myanmar (X units) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for the Philippines (with a CAGR of +24.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Australia ($X) constitutes the largest market for imported agricultural and forestry tractors in Asia-Pacific, comprising 33% of total imports. The second position in the ranking was taken by New Zealand ($X), with a 9.5% share of total imports. It was followed by Thailand, with a 9% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Australia totaled +2.4%. In the other countries, the average annual rates were as follows: New Zealand (+1.3% per year) and Thailand (-3.4% per year).

Import Prices by Country

In 2021, the import price in Asia-Pacific amounted to $X per unit, rising by 7.5% against the previous year. In general, the import price, however, continues to indicate a noticeable downturn. Over the period under review, import prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was New Zealand ($X per unit), while Bangladesh ($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 more modest paces of growth.

Source: IndexBox Platform

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