Luxembourg: Agricultural Appliance Market 2024

Agricultural Appliance Market Size in Luxembourg

In 2021, the Luxembourg agricultural appliance market decreased by -30.1% to $X, falling for the second consecutive year after three years of growth. Overall, consumption continues to indicate a perceptible decrease. Agricultural appliance consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Agricultural Appliance Exports

Exports from Luxembourg

Agricultural appliance exports from Luxembourg surged to X units in 2021, increasing by 56% compared with the previous year's figure. In general, exports, however, continue to indicate a pronounced descent. The most prominent rate of growth was recorded in 2015 when exports increased by 406% against the previous year. As a result, the exports reached the peak of X units. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, agricultural appliance exports soared to $X in 2021. Over the period under review, exports, however, faced a abrupt contraction. The most prominent rate of growth was recorded in 2018 with an increase of 307% against the previous year. Over the period under review, the exports attained the maximum at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Italy (X units), France (X units) and Germany (X units) were the main destinations of agricultural appliance exports from Luxembourg, together accounting for 66% of total exports. These countries were followed by Belgium, Oman, Qatar and Saudi Arabia, which together accounted for a further 30%.

From 2012 to 2021, the biggest increases were recorded for Saudi Arabia (with a CAGR of +87.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Qatar ($X) emerged as the key foreign market for agricultural appliances exports from Luxembourg, comprising 41% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with an 18% share of total exports. It was followed by France, with a 17% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Qatar was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+68.3% per year) and France (-14.9% per year).

Export Prices by Country

The average agricultural appliance export price stood at $X per unit in 2021, reducing by -3.9% against the previous year. Overall, the export price recorded a deep slump. The pace of growth appeared the most rapid in 2013 when the average export price increased by 149% against the previous year. The export price peaked at $X per unit in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Saudi Arabia ($X per unit), while the average price for exports to Italy ($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 Romania (+60.1%), while the prices for the other major destinations experienced mixed trend patterns.

Agricultural Appliance Imports

Imports into Luxembourg

In 2021, overseas purchases of agricultural appliances decreased by -32.2% to X units, falling for the second year in a row after three years of growth. In general, imports, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2018 with an increase of 68% against the previous year. Imports peaked at X units in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, agricultural appliance imports dropped slightly to $X in 2021. Over the period under review, imports showed a deep contraction. The pace of growth appeared the most rapid in 2014 when imports increased by 17%. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Germany (X units) constituted the largest agricultural appliance supplier to Luxembourg, accounting for a 61% share of total imports. Moreover, agricultural appliance imports from Germany exceeded the figures recorded by the second-largest supplier, France (X units), fourfold. The third position in this ranking was taken by Belgium (X units), with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany stood at +7.5%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+12.6% per year) and Belgium (+2.9% per year).

In value terms, Germany ($X) constituted the largest supplier of agricultural appliances to Luxembourg, comprising 66% of total imports. The second position in the ranking was taken by France ($X), with a 13% share of total imports. It was followed by Belgium, with a 9.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany totaled -15.0%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-8.3% per year) and Belgium (-7.0% per year).

Import Prices by Country

The average agricultural appliance import price stood at $X per unit in 2021, rising by 42% against the previous year. Overall, the import price, however, faced a abrupt shrinkage. The pace of growth was the most pronounced in 2020 when the average import price increased by 52% against the previous year. The import price peaked at $X per unit in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+2.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform