Czech Republic: Plough Market 2024

Plough Market Size in the Czech Republic

In 2022, after two years of decline, there was significant growth in the Czech plough market, when its value increased by 92% to $X. In general, consumption, however, faced a significant contraction. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Plough Production in the Czech Republic

In value terms, plough production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.6% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 when the production volume increased by 10%. Plough production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Plough Exports

Exports from the Czech Republic

After two years of growth, shipments abroad of ploughs for agricultural purposes decreased by -2% to X units in 2022. Over the period under review, exports, however, continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2017 with an increase of 122% against the previous year. The exports peaked at X units in 2021, and then fell slightly in the following year.

In value terms, plough exports stood at $X in 2022. In general, exports, however, continue to indicate strong growth. The most prominent rate of growth was recorded in 2017 with an increase of 149%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Austria (X units) was the main destination for plough exports from the Czech Republic, with a 25% share of total exports. Moreover, plough exports to Austria exceeded the volume sent to the second major destination, Germany (X units), twofold. The third position in this ranking was taken by France (X units), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume to Austria totaled +54.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+22.0% per year) and France (+56.7% per year).

In value terms, the largest markets for plough exported from the Czech Republic were Austria ($X), Germany ($X) and France ($X), with a combined 47% share of total exports. These countries were followed by Poland, Russia, Australia, Hungary, Slovakia, Bulgaria, Italy, Croatia, Ukraine and Moldova, which together accounted for a further 44%.

In terms of the main countries of destination, Italy, with a CAGR of +107.2%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average plough export price stood at $X per unit in 2022, with an increase of 3.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.0%. The most prominent rate of growth was recorded in 2017 when the average export price increased by 12%. The export price peaked in 2022 and is expected to retain growth in the near future.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Germany ($X per unit) and Croatia ($X per unit), while the average price for exports to Hungary ($X per unit) and Austria ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Croatia (+10.2%), while the prices for the other major destinations experienced more modest paces of growth.

Plough Imports

Imports into the Czech Republic

In 2022, purchases abroad of ploughs for agricultural purposes increased by 6.3% to X units, rising for the second year in a row after two years of decline. Overall, imports, however, saw a pronounced setback. The pace of growth appeared the most rapid in 2021 with an increase of 61%. Over the period under review, imports reached the peak figure at X units in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, plough imports stood at $X in 2022. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 55%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Germany (X units) constituted the largest plough supplier to the Czech Republic, with a 36% share of total imports. Moreover, plough imports from Germany exceeded the figures recorded by the second-largest supplier, Norway (X units), twofold. Austria (X units) ranked third in terms of total imports with a 14% share.

From 2012 to 2022, the average annual growth rate of volume from Germany totaled -2.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Norway (-3.8% per year) and Austria (+16.5% per year).

In value terms, Germany ($X) constituted the largest supplier of ploughs for agricultural purposes to the Czech Republic, comprising 38% of total imports. The second position in the ranking was held by Norway ($X), with a 19% share of total imports. It was followed by Austria, with a 16% share.

From 2012 to 2022, the average annual growth rate of value from Germany totaled -2.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Norway (-2.3% per year) and Austria (+18.6% per year).

Import Prices by Country

In 2022, the average plough import price amounted to $X per unit, declining by -2.1% against the previous year. Over the last decade, it increased at an average annual rate of +1.3%. The most prominent rate of growth was recorded in 2020 an increase of 12%. As a result, import price attained the peak level of $X per unit. From 2021 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Austria ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+2.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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