Indonesia: Tractor Market 2024

Tractor Market Size in Indonesia

The Indonesian tractor market reduced to $X in 2022, waning by -8.5% against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the market value increased by 6.8% against the previous year. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Tractor Production in Indonesia

In value terms, tractor production dropped slightly to $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the production volume increased by 8.3% against the previous year. Tractor production peaked at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Tractor Exports

Exports from Indonesia

Tractor exports from Indonesia soared to X units in 2022, rising by 57% compared with 2021 figures. In general, exports posted a significant expansion. The pace of growth appeared the most rapid in 2014 when exports increased by 293%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in years to come.

In value terms, tractor exports soared to $X in 2022. Over the period under review, exports saw significant growth. The pace of growth appeared the most rapid in 2014 when exports increased by 400% against the previous year. The exports peaked in 2022 and are likely to see steady growth in years to come.

Exports by Country

The United States (X units) was the main destination for tractor exports from Indonesia, with a 34% share of total exports. Moreover, tractor exports to the United States exceeded the volume sent to the second major destination, Thailand (X units), more than tenfold. The third position in this ranking was taken by France (X units), with a 2% share.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at +125.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+78.2% per year) and France (+51.1% per year).

In value terms, the United States ($X) remains the key foreign market for tractors exports from Indonesia, comprising 36% of total exports. The second position in the ranking was taken by Thailand ($X), with a 2.6% share of total exports. It was followed by France, with a 2.1% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to +100.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+61.6% per year) and France (+28.0% per year).

Export Prices by Country

In 2022, the average tractor export price amounted to $X per unit, declining by -24.9% against the previous year. In general, the export price saw a perceptible curtailment. The most prominent rate of growth was recorded in 2013 an increase of 70%. Over the period under review, the average export prices attained the maximum at $X per unit in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+38.7%), while the prices for the other major destinations experienced mixed trend patterns.

Tractor Imports

Imports into Indonesia

In 2022, imports of tractors into Indonesia declined dramatically to X units, dropping by -15.2% compared with the previous year. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 144%. Imports peaked at X units in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, tractor imports contracted rapidly to $X in 2022. In general, imports saw a abrupt descent. The growth pace was the most rapid in 2021 when imports increased by 132% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

China (X units), Thailand (X units) and India (X units) were the main suppliers of tractor imports to Indonesia, together accounting for 33% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Thailand (with a CAGR of +42.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), the United States ($X) and Sweden ($X) constituted the largest tractor suppliers to Indonesia, together comprising 25% of total imports. These countries were followed by Thailand, India, Japan, South Korea, Mexico, Germany, Italy, Brazil and Turkey, which together accounted for a further 21%.

In terms of the main suppliers, Thailand, with a CAGR of +29.0%, saw the highest rates of growth with regard to 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

In 2022, the average tractor import price amounted to $X per unit, with a decrease of -14.2% against the previous year. In general, the import price recorded a abrupt downturn. The most prominent rate of growth was recorded in 2019 when the average import price increased by 11% against the previous year. The import price peaked at $X per unit in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+7.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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