Iceland: Tractor Market 2020

Tractor Market Size in Iceland

The revenue of the tractor market in Iceland amounted to $X in 2018, declining by -X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, tractor consumption continues to indicate an abrupt contraction. The pace of growth was the most pronounced in 2016 when the market value increased by X% against the previous year. Iceland tractor consumption peaked at $X in 2011; however, from 2012 to 2018, consumption stood at a somewhat lower figure.

Tractor Exports

Exports from Iceland

In 2018, approx. X units of tractors were exported from Iceland; going down by -X% against the previous year. Over the period under review, tractor exports continue to indicate a deep drop. The growth pace was the most rapid in 2017 with an increase of X% y-o-y. Over the period under review, tractor exports reached their maximum at X units in 2009; however, from 2010 to 2018, exports stood at a somewhat lower figure.

In value terms, tractor exports amounted to $X in 2018. Over the period under review, tractor exports continue to indicate an abrupt downturn. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. Over the period under review, tractor exports reached their peak figure at $X in 2008; however, from 2009 to 2018, exports stood at a somewhat lower figure.

Exports by Country

In 2018, the UK (X units), Japan (X units), Germany (X units), the U.S. (X units), Belarus (X units), India (X units), Italy (X units), South Korea (X units), China (X units), France (X units), Thailand (X units) and Turkey (X units) were the major exporters of tractors in the world, achieving X% of total export.

From 2007 to 2018, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by South Korea, while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the U.S. ($X) and Japan ($X) constituted the countries with the highest levels of exports in 2018, together accounting for X% of total exports. Italy, the UK, France, India, South Korea, China, Belarus, Turkey, Thailand and Iceland lagged somewhat behind, together accounting for a further X terms of the main exporting countries, Thailand experienced the highest growth rate of exports, over the last eleven-year period, while the other leaders experienced more modest paces of growth.

Export Prices by Country

The tractor export price in Iceland stood at $X per unit in 2018, remaining constant against the previous year. In general, the tractor export price continues to indicate a slight drop. The most prominent rate of growth was recorded in 2012 an increase of X% y-o-y. In that year, the export prices for tractors attained their peak level of $X per unit. From 2013 to 2018, the growth in terms of the export prices for tractors failed to regain its momentum.

Prices varied noticeably by the country of origin; the country with the highest price was France ($X per unit), while the UK ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Thailand, while the other leaders experienced more modest paces of growth.

Tractor Imports

Imports into Iceland

Tractor imports into Iceland totaled X units in 2018, falling by -X% against the previous year. Overall, tractor imports continue to indicate a deep decline. The growth pace was the most rapid in 2016 when imports increased by X% against the previous year. Iceland imports peaked at X units in 2011; however, from 2012 to 2018, imports stood at a somewhat lower figure.

In value terms, tractor imports amounted to $X in 2018. Overall, tractor imports continue to indicate a moderate shrinkage. The most prominent rate of growth was recorded in 2012 when imports increased by X% y-o-y. Over the period under review, tractor imports attained their peak figure at $X in 2007; however, from 2008 to 2018, imports failed to regain their momentum.

Imports by Country

Free Zones (X units) and the U.S. (X units) represented roughly X% of total imports of tractors in 2018. It was distantly followed by Germany (X units), generating a X% share of total imports. The following importers - France (X units), Ukraine (X units), Canada (X units), the UK (X units), the Netherlands (X units), Russia (X units), Italy (X units), Poland (X units) and Vietnam (X units) - together made up X% of total imports.

From 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by Free Zones (+X% per year), while the other leaders experienced more modest paces of growth.

In value terms, the U.S. ($X) constitutes the largest market for imported tractors into Iceland, comprising X% of global imports. The second position in the ranking was occupied by France ($X), with a X% share of global imports. It was followed by Canada, with a X% share.

From 2007 to 2018, the average annual growth rate of value in the U.S. amounted to +X%. In the other countries, the average annual rates were as follows: France (+X% per year) and Canada (+X% per year).

Import Prices by Country

The tractor import price in Iceland stood at $X per unit in 2018, growing by X% against the previous year. In general, the tractor import price continues to indicate conspicuous growth. The growth pace was the most rapid in 2012 an increase of X% against the previous year. Over the period under review, the import prices for tractors reached their maximum in 2018 and is expected to retain its growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was Canada ($X per unit), while Free Zones ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by the U.S., while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform