Czech Republic: Tractor Market 2024

Tractor Market Size in the Czech Republic

For the third year in a row, the Czech tractor market recorded growth in sales value, which increased by 0.5% to $X in 2022. In general, the total consumption indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +6.0% 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 +18.1% against 2018 indices. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Tractor Production in the Czech Republic

In value terms, tractor production reduced to $X in 2022 estimated in export price. In general, production showed a abrupt curtailment. The most prominent rate of growth was recorded in 2014 when the production volume increased by 99%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Tractor Exports

Exports from the Czech Republic

In 2022, the amount of tractors exported from the Czech Republic declined to X units, dropping by -8% compared with 2021 figures. Overall, exports saw a mild slump. The pace of growth appeared the most rapid in 2021 when exports increased by 55%. The exports peaked at X units in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, tractor exports shrank modestly to $X in 2022. In general, exports saw a mild decrease. The most prominent rate of growth was recorded in 2021 with an increase of 48% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Poland (X units), Slovakia (X units) and Romania (X units) were the main destinations of tractor exports from the Czech Republic, together accounting for 29% of total exports. These countries were followed by Croatia, Ukraine, Slovenia, Georgia, Germany, Serbia, Estonia, the Netherlands, Austria and Hungary, which together accounted for a further 13%.

From 2012 to 2022, the biggest increases were recorded for Georgia (with a CAGR of +54.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Slovakia ($X) and Germany ($X) were the largest markets for tractor exported from the Czech Republic worldwide, with a combined 28% share of total exports. Romania, Austria, Slovenia, the Netherlands, Hungary, Georgia, Ukraine, Croatia, Serbia and Estonia lagged somewhat behind, together comprising a further 12%.

Among the main countries of destination, Georgia, with a CAGR of +50.6%, 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 tractor export price stood at $X per unit in 2022, rising by 3.6% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the average export price increased by 47% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2018 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Austria ($X per unit), while the average price for exports to Croatia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+7.1%), while the prices for the other major destinations experienced more modest paces of growth.

Tractor Imports

Imports into the Czech Republic

For the third year in a row, the Czech Republic recorded growth in supplies from abroad of tractors, which increased by 0.2% to X units in 2022. Over the period under review, imports posted buoyant growth. The growth pace was the most rapid in 2018 when imports increased by 43% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, tractor imports dropped to $X in 2022. The total import value increased at an average annual rate of +3.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 42%. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest tractor supplier to the Czech Republic, accounting for a 15% share of total imports. Moreover, tractor imports from China exceeded the figures recorded by the second-largest supplier, the Netherlands (X units), twofold. Germany (X units) ranked third in terms of total imports with a 4.4% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +27.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+13.5% per year) and Germany (+2.4% per year).

In value terms, Germany ($X), the Netherlands ($X) and Belgium ($X) were the largest tractor suppliers to the Czech Republic, with a combined 22% share of total imports. These countries were followed by Italy, France, Austria, the UK, China, the United States, Sweden, Poland, Japan and Taiwan (Chinese), which together accounted for a further 24%.

China, with a CAGR of +27.4%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average tractor import price amounted to $X per unit, waning by -6.6% against the previous year. Over the period under review, the import price showed a deep setback. The pace of growth appeared the most rapid in 2019 an increase of 15%. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+9.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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