India: Crawler Tractor Market 2024

Crawler Tractor Market Size in India

For the third consecutive year, the Indian crawler tractor market recorded decline in sales value, which decreased by -18.3% to $X in 2021. Over the period under review, consumption saw a pronounced shrinkage. Crawler tractor consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Crawler Tractor Production in India

In value terms, crawler tractor production rose modestly to $X in 2021 estimated in export price. Overall, production continues to indicate a tangible increase. The most prominent rate of growth was recorded in 2017 with an increase of 92%. As a result, production attained the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Crawler Tractor Exports

Exports from India

In 2021, shipments abroad of crawler tractors increased by 42% to X units, rising for the second consecutive year after two years of decline. Overall, exports saw significant growth. The most prominent rate of growth was recorded in 2017 when exports increased by 1,103%. As a result, the exports attained the peak of X units. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, crawler tractor exports skyrocketed to $X in 2021. Over the period under review, exports saw significant growth. The most prominent rate of growth was recorded in 2017 when exports increased by 1,536%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Italy (X units) was the main destination for crawler tractor exports from India, accounting for a 27% share of total exports. Moreover, crawler tractor exports to Italy exceeded the volume sent to the second major destination, Turkey (X units), threefold. Portugal (X units) ranked third in terms of total exports with an 8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Italy amounted to +126.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+193.6% per year) and Portugal (-4.6% per year).

In value terms, Italy ($X) remains the key foreign market for crawler tractors exports from India, comprising 35% of total exports. The second position in the ranking was held by Portugal ($X), with an 11% share of total exports. It was followed by Turkey, with a 4.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Italy stood at +105.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (+2.4% per year) and Turkey (+199.7% per year).

Export Prices by Country

In 2021, the average crawler tractor export price amounted to $X per unit, dropping by -3.9% against the previous year. Over the period under review, export price indicated tangible growth from 2012 to 2021: its price increased at an average annual rate of +2.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, crawler tractor export price decreased by -13.0% against 2019 indices. The pace of growth appeared the most rapid in 2017 an increase of 36%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Sudan ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Portugal (+7.4%), while the prices for the other major destinations experienced more modest paces of growth.

Crawler Tractor Imports

Imports into India

In 2021, purchases abroad of crawler tractors decreased by -20% to X units, falling for the fourth year in a row after three years of growth. Overall, imports, however, showed a tangible expansion. The most prominent rate of growth was recorded in 2017 with an increase of 1,608%. As a result, imports reached the peak of X units. From 2018 to 2021, the growth of imports remained at a lower figure.

In value terms, crawler tractor imports skyrocketed to $X in 2021. Over the period under review, imports, however, saw a significant expansion. The pace of growth was the most pronounced in 2017 when imports increased by 1,581%. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, the United States (X units) constituted the largest crawler tractor supplier to India, with a 72% share of total imports. Moreover, crawler tractor imports from the United States exceeded the figures recorded by the second-largest supplier, China (X units), fourfold. The third position in this ranking was held by Sweden (X units), with a 6.2% share.

From 2012 to 2021, the average annual growth rate of volume from the United States amounted to +41.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-5.5% per year) and Sweden (-17.3% per year).

In value terms, Sweden ($X) constituted the largest supplier of crawler tractors to India, comprising 51% of total imports. The second position in the ranking was taken by the United States ($X), with a 24% share of total imports. It was followed by France, with a 16% share.

From 2012 to 2021, the average annual growth rate of value from Sweden stood at +27.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+36.1% per year) and France (0.0% per year).

Import Prices by Country

In 2021, the average crawler tractor import price amounted to $X per unit, with an increase of 92% against the previous year. Over the period under review, the import price saw strong growth. The growth pace was the most rapid in 2013 when the average import price increased by 239%. The import price peaked in 2021 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Sweden ($X per unit), while the price for the United States ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+51.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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