Report Update Nov 1, 2024

Mexico - Tractors - Market Analysis, Forecast, Size, Trends and Insights

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Mexico: Tractor Market 2024

Tractor Market Size in Mexico

The Mexican tractor market contracted remarkably to $X in 2022, which is down by -27.8% against the previous year. In general, consumption, however, saw a resilient expansion. As a result, consumption reached the peak level of $X, and then dropped dramatically in the following year.

Tractor Production in Mexico

In value terms, tractor production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +4.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 with an increase of 30%. Tractor production peaked at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Tractor Exports

Exports from Mexico

In 2022, shipments abroad of tractors increased by 26% to X units for the first time since 2019, thus ending a two-year declining trend. In general, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when exports increased by 43% against the previous year. The exports peaked at X units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, tractor exports skyrocketed to $X in 2022. Overall, total exports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +60.8% against 2020 indices. The growth pace was the most rapid in 2018 with an increase of 44%. The exports peaked in 2022 and are likely to continue growth in the immediate term.

Exports by Country

The United States (X units) was the main destination for tractor exports from Mexico, accounting for a approx. 95% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at +4.6%.

In value terms, the United States ($X) also remains the key foreign market for tractors exports from Mexico.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +7.8%.

Export Prices by Country

The average tractor export price stood at $X per unit in 2022, picking up by 2.4% against the previous year. Over the period under review, the export price saw a pronounced expansion. The most prominent rate of growth was recorded in 2021 when the average export price increased by 190% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is likely to continue growth in years to come.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to +3.1% per year.

Tractor Imports

Imports into Mexico

Tractor imports into Mexico shrank notably to X units in 2022, declining by -63% compared with the previous year's figure. Overall, imports faced a abrupt contraction. The most prominent rate of growth was recorded in 2021 when imports increased by 85%. Imports peaked at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, tractor imports surged to $X in 2022. Over the period under review, imports showed a relatively flat trend pattern. Imports peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the United States (X units) was the main tractor supplier to Mexico, with a 107% share of total imports. Moreover, tractor imports from the United States exceeded the figures recorded by the second-largest supplier, India (X units), fourfold. The third position in this ranking was taken by Japan (X units), with a 4.7% share.

From 2012 to 2022, the average annual growth rate of volume from the United States stood at -9.8%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+9.0% per year) and Japan (+0.2% per year).

In value terms, the United States ($X) constituted the largest supplier of tractors to Mexico, comprising 48% of total imports. The second position in the ranking was held by India ($X), with a 22% share of total imports. It was followed by Japan, with a 4.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States stood at -4.7%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+9.0% per year) and Japan (+4.5% per year).

Import Prices by Country

The average tractor import price stood at $X per unit in 2022, rising by 307% against the previous year. Over the period under review, the import price enjoyed a remarkable increase. Over the period under review, average import prices reached the peak figure at $X per unit in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per unit), while the price for the United States ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+12.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for tractors in the world?

The countries with the highest volumes of in 2021 were China, the United States and India, with a combined 37% share of global consumption.

What are the largest producers of tractors in the world?

The country with the largest volume of tractor production was China, comprising approx. 18% of total volume. Moreover, tractor production in China exceeded the figures recorded by the second-largest producer, the United States, twofold. The third position in this ranking was occupied by India, with a 7.4% share.

What are the leading suppliers of tractors to Mexico?

In value terms, the United States constituted the largest supplier of tractor to Mexico, comprising 56% of total imports. The second position in the ranking was occupied by India, with a 15% share of total imports. It was followed by Japan, with a 2% share.

What are the leading importers of tractors from Mexico?

In value terms, the United States remains the key foreign market for tractor exports from Mexico.

What is the average export price for tractors in Mexico?

In 2021, the average tractor export price amounted to $34,013 per unit, picking up by 4.4% against the previous year.

What is the average import price for tractors in Mexico?

In 2021, the average tractor import price amounted to $9,960 per unit, declining by -38.5% against the previous year.

This report provides an in-depth analysis of the tractor market in Mexico. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 28301000 - Pedestrian-controlled tractors
Prodcom 28302100 - New agricultural and forestry tractors, wheeled, of an engine power . .37 kW
Prodcom 28302200 - New agricultural and forestry tractors, wheeled, of an engine power > .37 kW but . .59 kW (excluding pedestrian-controlled tractors)
Prodcom 28302330 - New agricultural and forestry tractors, wheeled, of an engine power > .59 kW but . .75 kW (excluding pedestrian-controlled tractors)
Prodcom 28302350 - New agricultural and forestry tractors, wheeled, of an engine power > .75 kW but . .90 kW (excluding pedestrian-controlled tractors)
Prodcom 28302370 - New agricultural and forestry tractors, wheeled, of an engine power > .90 kW (excluding pedestrian-controlled tractors)
Prodcom 28302390 - New tractors excluding agricultural/forestry tractors, wheeled, p edestrian-controlled tractors - road tractors for semi-trailers, t rack-laying tractors -tractors used on railway platforms
Prodcom 28925000 - (Crawler tractors) Track-laying tractors
Prodcom 29104300 - Road tractors for semi-trailers

Country coverage:

Mexico

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Mexico
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023