MENA: Tractor Market 2024

Tractor Market Size in MENA

The MENA's tractor market contracted slightly to $X in 2022, falling by -1.8% against the previous year. The market value increased at an average annual rate of +1.4% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Tractor Production in MENA

In value terms, tractor production fell slightly to $X in 2022 estimated in export price. The total production indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +3.8% against 2020 indices. The pace of growth was the most pronounced in 2016 when the production volume increased by 39% against the previous year. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Tractor Exports

Exports in MENA

In 2022, the amount of tractors exported in MENA stood at X units, remaining stable against 2021. In general, exports showed resilient growth. The pace of growth appeared the most rapid in 2018 when exports increased by 43%. 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 reduced to $X in 2022. Overall, exports continue to indicate a buoyant expansion. The growth pace was the most rapid in 2018 when exports increased by 71% against the previous year. The level of export peaked at $X in 2021, and then shrank in the following year.

Exports by Country

Turkey prevails in exports structure, reaching X units, which was approx. 93% of total exports in 2022. The following exporters - Oman (X units), the United Arab Emirates (X units) and Kuwait (X units) - each resulted at a 5.6% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to tractor exports from Turkey stood at +8.7%. At the same time, the United Arab Emirates (+10.8%) and Oman (+6.6%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in MENA, with a CAGR of +10.8% from 2012-2022. By contrast, Kuwait (-1.4%) illustrated a downward trend over the same period. Turkey (+24 p.p.) significantly strengthened its position in terms of the total exports, while Kuwait saw its share reduced by -1.6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest tractor supplier in MENA, comprising 94% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 1.7% share of total exports. It was followed by Oman, with a 1.7% share.

From 2012 to 2022, the average annual growth rate of value in Turkey stood at +13.4%. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (+14.7% per year) and Oman (+15.9% per year).

Export Prices by Country

The export price in MENA stood at $X per unit in 2022, falling by -9.3% against the previous year. Export price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of +6.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, tractor export price increased by +9.4% against 2020 indices. The most prominent rate of growth was recorded in 2016 when the export price increased by 35%. The level of export peaked at $X per unit in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Turkey ($X per unit), while Kuwait ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (+8.7%), while the other leaders experienced more modest paces of growth.

Tractor Imports

Imports in MENA

In 2022, purchases abroad of tractors increased by 10% to X units, rising for the second year in a row after six years of decline. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 20% against the previous year. As a result, imports reached the peak of X units. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, tractor imports declined to $X in 2022. In general, imports, however, continue to indicate a mild curtailment. The growth pace was the most rapid in 2021 when imports increased by 45%. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Turkey (X units) and the United Arab Emirates (X units) were the main importers of tractors in MENA, together making up 44% of total imports. Saudi Arabia (X units) ranks next in terms of the total imports with a 13% share, followed by Egypt (8.2%), Libya (6.1%) and Morocco (5.2%). Tunisia (X units), Iraq (X units), Oman (X units), Israel (X units), Algeria (X units) and Yemen (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Saudi Arabia (with a CAGR of +9.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) constitutes the largest market for imported tractors in MENA, comprising 34% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with an 11% share of total imports. It was followed by Saudi Arabia, with a 10% share.

In Turkey, tractor imports expanded at an average annual rate of +1.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United Arab Emirates (+0.9% per year) and Saudi Arabia (+11.7% per year).

Import Prices by Country

The import price in MENA stood at $X per unit in 2022, shrinking by -17.1% against the previous year. Over the period under review, the import price saw a mild contraction. The growth pace was the most rapid in 2021 when the import price increased by 22% against the previous year. As a result, import price attained the peak level of $X per unit, and then dropped remarkably in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Algeria ($X per unit), while Libya ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Algeria (+5.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform