Middle East: Tractor Market 2024

Tractor Market Size in the Middle East

In 2022, the Middle Eastern tractor market increased by 0.3% to $X, rising for the second year in a row after two years of decline. The market value increased at an average annual rate of +2.2% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Tractor Production in the Middle East

In value terms, tractor production reduced to $X in 2022 estimated in export price. The total production indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +3.9% 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 +3.9% against 2020 indices. The pace of growth appeared the most rapid in 2016 when the production volume increased by 43%. 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 the Middle East

In 2022, exports of tractors in the Middle East amounted to X units, standing approx. at the year before. Over the period under review, exports showed a remarkable increase. The most prominent rate of growth was recorded in 2018 when exports increased by 45%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, tractor exports declined to $X in 2022. In general, exports continue to indicate a prominent increase. The growth pace was the most rapid in 2018 when exports increased by 71% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2021, and then dropped in the following year.

Exports by Country

Turkey prevails in exports structure, accounting for X units, which was near 93% of total exports in 2022. The following exporters - Oman (X units), the United Arab Emirates (X units) and Kuwait (X units) - each amounted to 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 the Middle East, 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 -1.7% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In Turkey, tractor exports increased at an average annual rate of +13.4% over the period from 2012-2022. 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 the Middle East stood at $X per unit in 2022, declining by -9.3% against the previous year. Export price indicated strong growth 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 +9.5% against 2020 indices. The most prominent rate of growth was recorded in 2016 when the export price increased by 35%. Over the period under review, the export prices attained the peak figure at $X per unit in 2018; however, from 2019 to 2022, the export prices remained at a 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 the Middle East

In 2022, purchases abroad of tractors increased by 27% to X units, rising for the third year in a row after five years of decline. Total imports indicated a modest expansion from 2012 to 2022: its volume increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +70.0% against 2019 indices. The pace of growth appeared the most rapid in 2014 with an increase of 28% 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. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 71% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

Turkey (X units) and the United Arab Emirates (X units) represented the major importers of tractors in 2022, recording approx. 33% and 27% of total imports, respectively. It was distantly followed by Saudi Arabia (X units), making up a 17% share of total imports. Iraq (X units), Oman (X units), Israel (X units), Yemen (X units), Kuwait (X units), Lebanon (X units), Iran (X units) and Jordan (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Lebanon (with a CAGR of +11.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) constitutes the largest market for imported tractors in the Middle East, comprising 46% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 14% share of total imports. It was followed by Saudi Arabia, with a 14% share.

In Turkey, tractor imports expanded at an average annual rate of +1.3% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (+0.9% per year) and Saudi Arabia (+11.7% per year).

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per unit, dropping by -27.8% against the previous year. In general, the import price continues to indicate a mild slump. The growth pace was the most rapid in 2021 an increase of 40% against the previous year. As a result, import price attained the peak level of $X per unit, and then shrank significantly in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Iran ($X per unit), while Lebanon ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Yemen (+4.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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