Ireland: Agricultural Appliance Market 2024

Agricultural Appliance Market Size in Ireland

In 2021, the Irish agricultural appliance market decreased by -5% to $X for the first time since 2015, thus ending a five-year rising trend. Overall, consumption, however, enjoyed prominent growth. Over the period under review, the market hit record highs at $X in 2020, and then reduced in the following year.

Agricultural Appliance Production in Ireland

In value terms, agricultural appliance production reached $X in 2021 estimated in export price. Over the period under review, production, however, saw a pronounced reduction. The most prominent rate of growth was recorded in 2018 when the production volume increased by 48%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Agricultural Appliance Exports

Exports from Ireland

After two years of decline, overseas shipments of agricultural appliances increased by 11% to X units in 2021. Over the period under review, exports, however, continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2018 with an increase of 36% against the previous year. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, agricultural appliance exports soared to $X in 2021. Overall, exports, however, saw a pronounced descent. The pace of growth was the most pronounced in 2018 when exports increased by 63% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

The UK (X units) was the main destination for agricultural appliance exports from Ireland, accounting for a 93% share of total exports. Moreover, agricultural appliance exports to the UK exceeded the volume sent to the second major destination, New Zealand (X units), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to the UK totaled -8.2%.

In value terms, the UK ($X) remains the key foreign market for agricultural appliances exports from Ireland, comprising 80% of total exports. The second position in the ranking was held by New Zealand ($X), with a 4.2% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the UK stood at -3.0%.

Export Prices by Country

The average agricultural appliance export price stood at $X per unit in 2021, jumping by 19% against the previous year. Overall, export price indicated resilient growth from 2012 to 2021: its price increased at an average annual rate of +6.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, agricultural appliance export price increased by +15.8% against 2018 indices. The growth pace was the most rapid in 2017 an increase of 23%. Over the period under review, the average export prices attained the peak figure in 2021 and is likely to see gradual growth in years to come.

Average prices varied somewhat for the major export markets. In 2021, the country with the highest price was New Zealand ($X per unit), while the average price for exports to the UK amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to New Zealand (+9.3%).

Agricultural Appliance Imports

Imports into Ireland

Agricultural appliance imports into Ireland was estimated at X units in 2021, therefore, remained relatively stable against 2020. In general, imports, however, saw a deep slump. The most prominent rate of growth was recorded in 2018 when imports increased by 64%. Over the period under review, imports attained the peak figure at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, agricultural appliance imports skyrocketed to $X in 2021. Over the period under review, imports, however, continue to indicate a abrupt decline. The pace of growth was the most pronounced in 2018 with an increase of 36%. Imports peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

The UK (X units), China (X units) and Italy (X units) were the main suppliers of agricultural appliance imports to Ireland, with a combined 82% share of total imports. Germany, Turkey, Malaysia, Spain, France, Poland and Denmark lagged somewhat behind, together comprising a further 12%.

From 2012 to 2021, the biggest increases were recorded for Malaysia (with a CAGR of +38.7%), while purchases for the other leaders experienced a decline.

In value terms, the UK ($X) constituted the largest supplier of agricultural appliances to Ireland, comprising 45% of total imports. The second position in the ranking was held by China ($X), with a 12% share of total imports. It was followed by Germany, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the UK amounted to -1.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-3.9% per year) and Germany (-15.1% per year).

Import Prices by Country

In 2021, the average agricultural appliance import price amounted to $X per unit, picking up by 26% against the previous year. In general, import price indicated a strong expansion from 2012 to 2021: its price increased at an average annual rate of +9.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 an increase of 82% against the previous year. As a result, import price reached the peak level of $X per unit. From 2018 to 2021, the average import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per unit), while the price for Turkey ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+16.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform