EU: Plough Market 2024

Plough Market Size in the EU

The EU plough market rose remarkably to $X in 2022, picking up by 6.4% against the previous year. In general, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Plough Production in the EU

In value terms, plough production stood at $X in 2022 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by 7.7% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Plough Exports

Exports in the EU

In 2022, approx. X units of ploughs for agricultural purposes were exported in the European Union; with a decrease of -6.7% compared with 2021 figures. Overall, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 23% against the previous year. The volume of export peaked at X units in 2021, and then dropped in the following year.

In value terms, plough exports dropped to $X in 2022. Over the period under review, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 32%. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, France (X units) and Germany (X units) represented the major exporters of ploughs for agricultural purposes in the European Union, together amounting to approx. 40% of total exports. The Czech Republic (X units) held the next position in the ranking, followed by Hungary (X units), Italy (X units), Poland (X units), Denmark (X units), Sweden (X units), the Netherlands (X units) and Spain (X units). All these countries together took near 50% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Denmark (with a CAGR of +21.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest plough supplying countries in the European Union were Germany ($X), France ($X) and the Czech Republic ($X), with a combined 59% share of total exports. Denmark, Italy, Sweden, the Netherlands, Hungary, Poland and Spain lagged somewhat behind, together comprising a further 32%.

In terms of the main exporting countries, the Netherlands, with a CAGR of +27.3%, saw the highest rates of growth with regard to 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

In 2022, the export price in the European Union amounted to $X per unit, surging by 2.2% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of 6.8%. The level of export peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

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 Germany ($X per unit), while Hungary ($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 Netherlands (+7.4%), while the other leaders experienced more modest paces of growth.

Plough Imports

Imports in the EU

In 2022, supplies from abroad of ploughs for agricultural purposes decreased by -4.9% to X units for the first time since 2019, thus ending a two-year rising trend. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 16%. The volume of import peaked at X units in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, plough imports amounted to $X in 2022. Total imports indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of +1.2% 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 +35.0% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 29%. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

The purchases of the twelve major importers of ploughs for agricultural purposes, namely Poland, Romania, Denmark, France, Bulgaria, Germany, the Netherlands, Sweden, Hungary, Austria, Croatia and Italy, represented more than two-thirds of total import. The Czech Republic (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Denmark (with a CAGR of +13.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest plough importing markets in the European Union were Poland ($X), Denmark ($X) and France ($X), together comprising 33% of total imports.

In terms of the main importing countries, Denmark, with a CAGR of +13.2%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in the European Union stood at $X per unit in 2022, with an increase of 9.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.2%. The most prominent rate of growth was recorded in 2021 an increase of 26% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

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 France ($X per unit), while Italy ($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 (+6.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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