Eastern Asia: Pedestrian-Controlled Tractor Market 2024

Pedestrian-Controlled Tractor Market Size in Eastern Asia

The East Asian pedestrian-controlled tractor market expanded to $X in 2022, increasing by 1.5% against the previous year. The market value increased at an average annual rate of +2.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Pedestrian-Controlled Tractor Production in Eastern Asia

In value terms, pedestrian-controlled tractor production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.5% 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 2020 with an increase of 19%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Pedestrian-Controlled Tractor Exports

Exports in Eastern Asia

In 2022, approx. X units of pedestrian-controlled tractors were exported in Eastern Asia; with an increase of 44% against the previous year's figure. Overall, exports showed a strong expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 55%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, pedestrian-controlled tractor exports shrank modestly to $X in 2022. Over the period under review, exports, however, saw a pronounced reduction. The growth pace was the most rapid in 2014 when exports increased by 16%. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

China dominates exports structure, resulting at X units, which was approx. 96% of total exports in 2022. The following exporters - South Korea (X units) and Japan (X units) - each accounted for a 3.7% share of total exports.

China was also the fastest-growing in terms of the pedestrian-controlled tractors exports, with a CAGR of +15.8% from 2012 to 2022. South Korea (-1.4%) and Japan (-12.3%) illustrated a downward trend over the same period. China (+25 p.p.) significantly strengthened its position in terms of the total exports, while South Korea and Japan saw its share reduced by -5.4% and -18.3% from 2012 to 2022, respectively.

In value terms, China ($X) remains the largest pedestrian-controlled tractor supplier in Eastern Asia, comprising 95% of total exports. The second position in the ranking was held by South Korea ($X), with a 3% share of total exports.

From 2012 to 2022, the average annual growth rate of value in China stood at -1.3%. In the other countries, the average annual rates were as follows: South Korea (-2.0% per year) and Japan (-20.4% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per unit in 2022, declining by -33.7% against the previous year. In general, the export price saw a abrupt decline. The pace of growth appeared the most rapid in 2018 an increase of 29%. As a result, the export price attained the peak level of $X per unit. From 2019 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was South Korea ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (-0.6%), while the other leaders experienced a decline in the export price figures.

Pedestrian-Controlled Tractor Imports

Imports in Eastern Asia

In 2022, overseas purchases of pedestrian-controlled tractors decreased by -11.6% to X units for the first time since 2018, thus ending a three-year rising trend. Total imports indicated a tangible increase from 2012 to 2022: its volume increased at an average annual rate of +4.0% 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 +46.9% against 2018 indices. The most prominent rate of growth was recorded in 2016 with an increase of 63% against the previous year. Over the period under review, imports hit record highs at X units in 2021, and then declined in the following year.

In value terms, pedestrian-controlled tractor imports fell to $X in 2022. In general, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when imports increased by 47%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Democratic People's Republic of Korea prevails in imports structure, recording X units, which was near 84% of total imports in 2022. It was distantly followed by South Korea (X units), generating a 9.3% share of total imports. Hong Kong SAR (X units) took a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to pedestrian-controlled tractor imports into Democratic People's Republic of Korea stood at +24.4%. At the same time, Hong Kong SAR (+30.2%) and South Korea (+1.7%) displayed positive paces of growth. Moreover, Hong Kong SAR emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +30.2% from 2012-2022. While the share of Democratic People's Republic of Korea (+70 p.p.) and Hong Kong SAR (+4 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of South Korea (-2.4 p.p.) displayed negative dynamics.

In value terms, Democratic People's Republic of Korea ($X) constitutes the largest market for imported pedestrian-controlled tractors in Eastern Asia, comprising 84% of total imports. The second position in the ranking was taken by South Korea ($X), with an 8.2% share of total imports.

In Democratic People's Republic of Korea, pedestrian-controlled tractor imports increased at an average annual rate of +21.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: South Korea (-4.7% per year) and Hong Kong SAR (+14.0% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per unit in 2022, increasing by 4.1% against the previous year. In general, the import price, however, showed a noticeable descent. The most prominent rate of growth was recorded in 2018 when the import price increased by 9.3% against the previous year. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Democratic People's Republic of Korea ($X per unit), while Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Democratic People's Republic of Korea (-2.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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