Romania: Tractor Market 2024

Tractor Market Size in Romania

The Romanian tractor market reduced to $X in 2022, which is down by -5.8% against the previous year. The market value increased at an average annual rate of +1.6% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Tractor Production in Romania

In value terms, tractor production rose markedly to $X in 2022 estimated in export price. Overall, production, however, recorded a noticeable downturn. The pace of growth was the most pronounced in 2020 when the production volume increased by 53%. Tractor production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Tractor Exports

Exports from Romania

In 2022, overseas shipments of tractors decreased by -26.1% to X units, falling for the second year in a row after three years of growth. Over the period under review, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 84% against the previous year. The exports peaked at X units in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, tractor exports dropped to $X in 2022. In general, total exports indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 45% against the previous year. Over the period under review, the exports attained the maximum at $X in 2021, and then dropped in the following year.

Exports by Country

Egypt (X units), Spain (X units) and Hungary (X units) were the main destinations of tractor exports from Romania, together accounting for 16% of total exports. These countries were followed by Jordan, the Netherlands, Bulgaria, Croatia, Germany, Italy, Bosnia and Herzegovina, Moldova, France and Poland, which together accounted for a further 23%.

From 2012 to 2022, the biggest increases were recorded for Croatia (with a CAGR of +69.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), Bulgaria ($X) and the Netherlands ($X) were the largest markets for tractor exported from Romania worldwide, with a combined 19% share of total exports. These countries were followed by Hungary, Germany, Italy, Poland, Jordan, Moldova, France, Egypt, Croatia and Bosnia and Herzegovina, which together accounted for a further 21%.

Among the main countries of destination, Croatia, with a CAGR of +48.2%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average tractor export price amounted to $X per unit, increasing by 20% against the previous year. Over the last decade, it increased at an average annual rate of +3.3%. The pace of growth was the most pronounced in 2016 an increase of 45% against the previous year. The export price peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Bulgaria ($X per unit), while the average price for exports to Egypt ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Egypt (+6.0%), while the prices for the other major destinations experienced more modest paces of growth.

Tractor Imports

Imports into Romania

In 2022, imports of tractors into Romania dropped sharply to X units, shrinking by -21.1% on 2021. Overall, imports, however, continue to indicate a strong increase. The pace of growth appeared the most rapid in 2018 with an increase of 53% against the previous year. Imports peaked at X units in 2021, and then contracted notably in the following year.

In value terms, tractor imports reduced to $X in 2022. In general, total imports indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +4.8% 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 +23.5% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of 39% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of tractor to Romania, with a 28% share of total imports. Moreover, tractor imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), sixfold. The third position in this ranking was held by Hungary (X units), with a 2.9% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +43.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+0.6% per year) and Hungary (+12.2% per year).

In value terms, Germany ($X), Hungary ($X) and Bulgaria ($X) constituted the largest tractor suppliers to Romania, together accounting for 26% of total imports. Belgium, the Netherlands, France, China, Austria, Italy, Sweden, Spain, Belarus and Japan lagged somewhat behind, together accounting for a further 20%.

China, with a CAGR of +26.5%, saw the highest growth rate of the value of imports, among 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 tractor import price stood at $X per unit in 2022, jumping by 19% against the previous year. Over the period under review, the import price, however, continues to indicate a abrupt slump. Over the period under review, average import prices attained the maximum at $X per unit in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

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 Sweden ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (+5.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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