GCC: Market for Agricultural And Forestry Tractors 2025

Market Size for Agricultural And Forestry Tractors in GCC

The GCC agricultural and forestry tractor market reduced to $X in 2021, dropping by -6.6% against the previous year. Over the period under review, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Production of Agricultural And Forestry Tractors in GCC

In value terms, agricultural and forestry tractor production reduced to $X in 2021 estimated in export price. Overall, production, however, saw a slight increase. The most prominent rate of growth was recorded in 2016 when the production volume increased by 185% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2021, production growth remained at a somewhat lower figure.

Exports of Agricultural And Forestry Tractors

Exports in GCC

In 2021, shipments abroad of agricultural and forestry tractors increased by 66% to X units, rising for the second year in a row after two years of decline. Overall, exports, however, continue to indicate a perceptible shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of 122% against the previous year. As a result, the exports reached the peak of X units. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, agricultural and forestry tractor exports soared to $X in 2021. In general, exports, however, recorded a slight descent. The most prominent rate of growth was recorded in 2015 with an increase of 95%. The level of export peaked at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

Kuwait was the main exporter of agricultural and forestry tractors in GCC, with the volume of exports finishing at X units, which was near 82% of total exports in 2021. It was distantly followed by the United Arab Emirates (X units), achieving a 12% share of total exports. The following exporters - Saudi Arabia (X units) and Oman (X units) - together made up 5.3% of total exports.

From 2012 to 2021, average annual rates of growth with regard to agricultural and forestry tractor exports from Kuwait stood at -5.0%. At the same time, Oman (+8.0%) and Saudi Arabia (+4.3%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of +8.0% from 2012-2021. By contrast, the United Arab Emirates (-3.2%) illustrated a downward trend over the same period. While the share of Saudi Arabia (+1.7 p.p.) and Oman (+1.5 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Kuwait (-4.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Kuwait ($X) emerged as the largest agricultural and forestry tractor supplier in GCC, comprising 90% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 6.9% share of total exports. It was followed by Oman, with a 1.8% share.

From 2012 to 2021, the average annual growth rate of value in Kuwait was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (-10.0% per year) and Oman (+18.5% per year).

Export Prices by Country

The export price in GCC stood at $X per unit in 2021, therefore, remained relatively stable against the previous year. Over the period under review, the export price, however, continues to indicate a perceptible expansion. The most prominent rate of growth was recorded in 2019 an increase of 159%. As a result, the export price attained the peak level of $X per unit. From 2020 to 2021, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Kuwait ($X per unit), while Saudi Arabia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+10.5%), while the other leaders experienced mixed trends in the export price figures.

Imports of Agricultural And Forestry Tractors

Imports in GCC

After four years of growth, supplies from abroad of agricultural and forestry tractors decreased by -80.4% to X units in 2021. In general, imports recorded a dramatic downturn. The growth pace was the most rapid in 2017 when imports increased by 2,911%. The volume of import peaked at X units in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, agricultural and forestry tractor imports surged to $X in 2021. Overall, imports continue to indicate a deep downturn. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Qatar (X units) represented the largest importer of agricultural and forestry tractors in GCC, constituting 98% of total import.

Qatar was also the fastest-growing in terms of the agricultural and forestry tractors imports, with a CAGR of -21.5% from 2012 to 2021. While the share of Qatar (-2 p.p.) decreased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Qatar ($X) constitutes the largest market for imported agricultural and forestry tractors in GCC.

From 2012 to 2021, the average annual rate of growth in terms of value in Qatar amounted to -18.0%.

Import Prices by Country

The import price in GCC stood at $X per unit in 2021, jumping by 559% against the previous year. In general, the import price posted a strong increase. The pace of growth appeared the most rapid in 2016 when the import price increased by 1,017%. As a result, import price reached the peak level of $X per unit. From 2017 to 2021, the import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for Qatar.

From 2012 to 2021, the rate of growth in terms of prices for Qatar amounted to +4.5% per year.

Source: IndexBox Platform