Italy: Agricultural Appliance Market 2024

Agricultural Appliance Market Size in Italy

In 2021, the Italian agricultural appliance market decreased by -14% to $X, falling for the second consecutive year after three years of growth. Overall, consumption, however, enjoyed a resilient increase. Agricultural appliance consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Agricultural Appliance Production in Italy

In value terms, agricultural appliance production fell to $X in 2021 estimated in export price. Over the period under review, production, however, showed a buoyant expansion. The most prominent rate of growth was recorded in 2016 with an increase of 299% against the previous year. Agricultural appliance production peaked at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Agricultural Appliance Exports

Exports from Italy

In 2021, the amount of agricultural appliances exported from Italy totaled X units, leveling off at the previous year. Over the period under review, exports recorded significant growth. The growth pace was the most rapid in 2020 when exports increased by 74% against the previous year. The exports peaked in 2021 and are likely to continue growth in years to come.

In value terms, agricultural appliance exports rose remarkably to $X in 2021. Overall, exports, however, continue to indicate a slight decline. The growth pace was the most rapid in 2019 when exports increased by 22%. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

France (X units) was the main destination for agricultural appliance exports from Italy, accounting for a 23% share of total exports. Moreover, agricultural appliance exports to France exceeded the volume sent to the second major destination, the Netherlands (X units), twofold. Romania (X units) ranked third in terms of total exports with an 8.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to France totaled +43.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+75.4% per year) and Romania (+56.8% per year).

In value terms, France ($X) remains the key foreign market for agricultural appliances exports from Italy, comprising 22% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 9.8% share of total exports. It was followed by Germany, with a 7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to France amounted to +2.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+17.8% per year) and Germany (-1.5% per year).

Export Prices by Country

In 2021, the average agricultural appliance export price amounted to $X per unit, with an increase of 4.4% against the previous year. In general, the export price, however, continues to indicate a precipitous contraction. Over the period under review, the average export prices attained the maximum at $X per unit in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was the United States ($X per unit), while the average price for exports to Russia ($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 Chile (-23.7%), while the prices for the other major destinations experienced a decline.

Agricultural Appliance Imports

Imports into Italy

In 2021, agricultural appliance imports into Italy skyrocketed to X units, picking up by 41% against the previous year's figure. In general, imports continue to indicate a prominent increase. The growth pace was the most rapid in 2019 when imports increased by 54%. Imports peaked in 2021 and are likely to see steady growth in years to come.

In value terms, agricultural appliance imports surged to $X in 2021. Over the period under review, imports recorded a prominent expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X units), France (X units) and Israel (X units) were the main suppliers of agricultural appliance imports to Italy, with a combined 63% share of total imports. These countries were followed by Spain, the United Arab Emirates, the United States, Turkey, Taiwan (Chinese), Austria, Slovakia and Greece, which together accounted for a further 30%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United Arab Emirates (with a CAGR of +133.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Spain ($X) and France ($X) were the largest agricultural appliance suppliers to Italy, with a combined 58% share of total imports. These countries were followed by Israel, the United States, the United Arab Emirates, Taiwan (Chinese), Turkey, Austria, Slovakia and Greece, which together accounted for a further 27%.

The United Arab Emirates, with a CAGR of +184.1%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average agricultural appliance import price stood at $X per unit in 2021, with an increase of 11% against the previous year. Overall, the import price, however, continues to indicate a pronounced decline. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Austria ($X per unit), while the price for the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Slovakia (+31.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform