Eastern Europe: Tractor Market 2024

Tractor Market Size in Eastern Europe

The East European tractor market contracted slightly to $X in 2022, leveling off at the previous year. Overall, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X, and then declined modestly in the following year.

Tractor Production in Eastern Europe

In value terms, tractor production declined to $X in 2022 estimated in export price. Over the period under review, production recorded a perceptible shrinkage. The growth pace was the most rapid in 2017 when the production volume increased by 25% 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 Eastern Europe

In 2022, after two years of growth, there was significant decline in shipments abroad of tractors, when their volume decreased by -13.8% to X units. The total export volume increased at an average annual rate of +1.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 29%. As a result, the exports reached the peak of X units, and then dropped in the following year.

In value terms, tractor exports dropped markedly to $X in 2022. Overall, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by 57%. As a result, the exports reached the peak of $X, and then dropped notably in the following year.

Exports by Country

Poland was the key exporter of tractors in Eastern Europe, with the volume of exports amounting to X units, which was approx. 37% of total exports in 2022. Lithuania (X units) held the second position in the ranking, followed by the Czech Republic (X units), Belarus (X units), Russia (X units), Slovakia (X units), Hungary (X units) and Bulgaria (X units). All these countries together took approx. 57% share of total exports.

Exports from Poland increased at an average annual rate of +6.6% from 2012 to 2022. At the same time, Slovakia (+11.8%), Bulgaria (+7.9%), Lithuania (+7.6%), Russia (+6.9%) and Hungary (+6.4%) displayed positive paces of growth. Moreover, Slovakia emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of +11.8% from 2012-2022. By contrast, the Czech Republic (-1.0%) and Belarus (-12.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Poland, Lithuania, Slovakia, Russia, Bulgaria and Hungary increased by +14, +5.4, +4.1, +2.9, +2.5 and +2.4 percentage points, respectively.

In value terms, Poland ($X) remains the largest tractor supplier in Eastern Europe, comprising 45% of total exports. The second position in the ranking was taken by Lithuania ($X), with a 12% share of total exports. It was followed by the Czech Republic, with a 9.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Poland stood at +5.5%. In the other countries, the average annual rates were as follows: Lithuania (+4.5% per year) and the Czech Republic (-1.9% per year).

Export Prices by Country

The export price in Eastern Europe stood at $X per unit in 2022, dropping by -8.3% against the previous year. In general, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 21%. As a result, the export price attained the peak level of $X per unit, and then shrank in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Bulgaria ($X per unit), while Russia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belarus (-0.2%), while the other leaders experienced a decline in the export price figures.

Tractor Imports

Imports in Eastern Europe

For the third consecutive year, Eastern Europe recorded growth in overseas purchases of tractors, which increased by 6.5% to X units in 2022. Total imports indicated a measured increase 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 +65.1% against 2019 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 49% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in years to come.

In value terms, tractor imports fell to $X in 2022. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 65%. As a result, imports attained the peak of $X, and then contracted in the following year.

Imports by Country

In 2022, Russia (X units), distantly followed by Poland (X units), Ukraine (X units), the Czech Republic (X units), Romania (X units) and Lithuania (X units) represented the key importers of tractors, together generating 86% of total imports. Slovakia (X units) and Bulgaria (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by the Czech Republic (with a CAGR of +11.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest tractor importing markets in Eastern Europe were Poland ($X), Russia ($X) and the Czech Republic ($X), with a combined 52% share of total imports. These countries were followed by Ukraine, Lithuania, Romania, Bulgaria and Slovakia, which together accounted for a further 35%.

Romania, with a CAGR of +4.8%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Eastern Europe amounted to $X per unit, reducing by -15.4% against the previous year. In general, the import price showed a perceptible decline. The pace of growth was the most pronounced in 2021 an increase of 10% against the previous year. The level of import peaked at $X per unit in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Bulgaria ($X per unit), while Russia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ukraine (+5.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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