Southern Asia: Plough Market 2025

Plough Market Size in Southern Asia

The South Asian plough market was finally on the rise to reach $X in 2022, after three years of decline. In general, consumption, however, saw a abrupt slump. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Plough Production in Southern Asia

In value terms, plough production expanded modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.1% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when the production volume increased by 22%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Plough Exports

Exports in Southern Asia

In 2022, plough exports in Southern Asia fell to X units, declining by -10.5% on the previous year's figure. Over the period under review, exports, however, recorded strong growth. The pace of growth was the most pronounced in 2021 with an increase of 93% against the previous year. As a result, the exports attained the peak of X units, and then reduced in the following year.

In value terms, plough exports dropped to $X in 2022. Overall, exports, however, recorded a buoyant increase. The growth pace was the most rapid in 2021 when exports increased by 95%. As a result, the exports reached the peak of $X, and then shrank in the following year.

Exports by Country

India dominates exports structure, recording X units, which was approx. 91% of total exports in 2022. It was distantly followed by Pakistan (X units), mixing up an 8.7% share of total exports.

India was also the fastest-growing in terms of the ploughs for agricultural purposes exports, with a CAGR of +11.4% from 2012 to 2022. At the same time, Pakistan (+6.9%) displayed positive paces of growth. While the share of India (+3.9 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Pakistan (-3.8 p.p.) displayed negative dynamics.

In value terms, India ($X) remains the largest plough supplier in Southern Asia, comprising 91% of total exports. The second position in the ranking was held by Pakistan ($X), with an 8.7% share of total exports.

From 2012 to 2022, the average annual growth rate of value in India totaled +14.5%.

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per unit, approximately mirroring the previous year. Over the last decade, it increased at an average annual rate of +2.5%. The pace of growth was the most pronounced in 2017 when the export price increased by 27% against the previous year. The level of export peaked at $X per unit in 2021, and then shrank modestly in the following year.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Pakistan ($X per unit), while India stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+2.8%).

Plough Imports

Imports in Southern Asia

Plough imports declined to X units in 2022, with a decrease of -7.9% compared with the previous year. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 69% against the previous year. Over the period under review, imports reached the peak figure at X units in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, plough imports dropped to $X in 2022. In general, imports, however, recorded a mild increase. The most prominent rate of growth was recorded in 2016 with an increase of 45%. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

India was the key importer of ploughs for agricultural purposes in Southern Asia, with the volume of imports resulting at X units, which was approx. 69% of total imports in 2022. Nepal (X units) ranks second in terms of the total imports with an 11% share, followed by Sri Lanka (7.4%) and Afghanistan (7.3%). Bhutan (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to plough imports into India stood at +3.1%. At the same time, Bhutan (+15.5%) and Nepal (+12.7%) displayed positive paces of growth. Moreover, Bhutan emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +15.5% from 2012-2022. Afghanistan experienced a relatively flat trend pattern. By contrast, Sri Lanka (-13.6%) illustrated a downward trend over the same period. While the share of India (+16 p.p.), Nepal (+7.5 p.p.) and Bhutan (+3 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Sri Lanka (-26 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported ploughs for agricultural purposes in Southern Asia, comprising 73% of total imports. The second position in the ranking was taken by Nepal ($X), with an 11% share of total imports. It was followed by Sri Lanka, with a 7.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value in India totaled +3.7%. The remaining importing countries recorded the following average annual rates of imports growth: Nepal (+16.1% per year) and Sri Lanka (-13.1% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per unit in 2022, declining by -2.3% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 17%. The level of import peaked at $X per unit in 2021, and then fell slightly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nepal (+3.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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