Australia and Oceania: Tractor Market 2024

Tractor Market Size in Australia and Oceania

The tractor market in Australia and Oceania amounted to $X in 2022, rising by 5% against the previous year. The total consumption indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +83.8% against 2015 indices. The level of consumption peaked in 2022 and is expected to retain growth in the near future.

Tractor Production in Australia and Oceania

In value terms, tractor production rose modestly to $X in 2022 estimated in export price. Over the period under review, production, however, saw a abrupt setback. The pace of growth was the most pronounced in 2019 with an increase of 29% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Tractor Exports

Exports in Australia and Oceania

After two years of growth, overseas shipments of tractors decreased by -4.7% to X units in 2022. Over the period under review, exports showed a perceptible decline. The growth pace was the most rapid in 2015 when exports increased by 53% against the previous year. As a result, the exports attained the peak of X units. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, tractor exports dropped to $X in 2022. Overall, exports continue to indicate a deep reduction. The most prominent rate of growth was recorded in 2014 with an increase of 35% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Australia was the largest exporter of tractors in Australia and Oceania, with the volume of exports accounting for X units, which was approx. 84% of total exports in 2022. It was distantly followed by New Zealand (X units), creating a 16% share of total exports.

Australia was also the fastest-growing in terms of the tractors exports, with a CAGR of -4.3% from 2012 to 2022. New Zealand (-5.1%) illustrated a downward trend over the same period. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) remains the largest tractor supplier in Australia and Oceania, comprising 93% of total exports. The second position in the ranking was taken by New Zealand ($X), with a 6.4% share of total exports.

In Australia, tractor exports contracted by an average annual rate of -5.4% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Australia and Oceania amounted to $X per unit, reducing by -5% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the export price increased by 91% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2019 to 2022, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Australia ($X per unit), while New Zealand amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+1.4%).

Tractor Imports

Imports in Australia and Oceania

In 2022, overseas purchases of tractors increased by 17% to X units, rising for the second consecutive year after two years of decline. Total imports indicated a temperate expansion from 2012 to 2022: its volume increased at an average annual rate of +3.8% 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 +64.0% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 41% against the previous year. The volume of import peaked in 2022 and is likely to see steady growth in the immediate term.

In value terms, tractor imports expanded markedly to $X in 2022. Overall, imports enjoyed a strong increase. The most prominent rate of growth was recorded in 2021 when imports increased by 51%. The level of import peaked in 2022 and is likely to see gradual growth in years to come.

Imports by Country

Australia was the largest importer of tractors in Australia and Oceania, with the volume of imports finishing at X units, which was approx. 78% of total imports in 2022. It was distantly followed by New Zealand (X units), achieving an 18% share of total imports.

Australia was also the fastest-growing in terms of the tractors imports, with a CAGR of +4.2% from 2012 to 2022. At the same time, New Zealand (+4.0%) displayed positive paces of growth. While the share of Australia (+2.4 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) constitutes the largest market for imported tractors in Australia and Oceania, comprising 79% of total imports. The second position in the ranking was held by New Zealand ($X), with a 19% share of total imports.

From 2012 to 2022, the average annual growth rate of value in Australia amounted to +6.4%.

Import Prices by Country

In 2022, the import price in Australia and Oceania amounted to $X per unit, shrinking by -8.2% against the previous year. Over the last decade, it increased at an average annual rate of +1.6%. The pace of growth appeared the most rapid in 2017 an increase of 14% against the previous year. Over the period under review, import prices attained the maximum at $X per unit in 2021, and then dropped in the following year.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was New Zealand ($X per unit), while Australia amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+2.2%).

Source: IndexBox Platform

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