Spain: Agricultural Appliance Market 2024

Agricultural Appliance Market Size in Spain

In 2021, after two years of decline, there was significant growth in the Spanish agricultural appliance market, when its value increased by 18% to $X. Over the period under review, consumption enjoyed prominent growth. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Agricultural Appliance Production in Spain

In value terms, agricultural appliance production surged to $X in 2021 estimated in export price. In general, the total production indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +5.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +88.8% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 52% against the previous year. Over the period under review, production reached the maximum level in 2021 and is expected to retain growth in years to come.

Agricultural Appliance Exports

Exports from Spain

In 2021, overseas shipments of agricultural appliances increased by 16% to X units, rising for the third consecutive year after two years of decline. In general, exports showed a modest expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 933% against the previous year. Over the period under review, the exports hit record highs at X units in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, agricultural appliance exports soared to $X in 2021. The total export value increased at an average annual rate of +3.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 27% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Morocco (X units), France (X units) and Portugal (X units) were the main destinations of agricultural appliance exports from Spain, together comprising 52% of total exports. These countries were followed by Chile, the Dominican Republic, Moldova, Mexico, Italy, Egypt, Ukraine, Peru, Algeria and Russia, which together accounted for a further 24%.

From 2012 to 2021, the biggest increases were recorded for Egypt (with a CAGR of +30.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Morocco ($X) remains the key foreign market for agricultural appliances exports from Spain, comprising 23% of total exports. The second position in the ranking was held by Portugal ($X), with an 11% share of total exports. It was followed by France, with an 8.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Morocco stood at +8.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (+7.5% per year) and France (-3.2% per year).

Export Prices by Country

In 2021, the average agricultural appliance export price amounted to $X per unit, increasing by 4.2% against the previous year. In general, the export price recorded mild growth. The pace of growth was the most pronounced in 2013 an increase of 1,132% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2014 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Mexico ($X per unit), while the average price for exports to France ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+10.2%), while the prices for the other major destinations experienced more modest paces of growth.

Agricultural Appliance Imports

Imports into Spain

Agricultural appliance imports into Spain rose rapidly to X units in 2021, growing by 9.4% on the previous year. Over the period under review, imports, however, continue to indicate a pronounced setback. The growth pace was the most rapid in 2014 with an increase of 82% against the previous year. Over the period under review, imports hit record highs at X units in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, agricultural appliance imports surged to $X in 2021. The total import value increased at an average annual rate of +4.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 with an increase of 30%. Imports peaked at $X in 2016; however, from 2017 to 2021, imports failed to regain momentum.

Imports by Country

France (X units), Israel (X units) and the United Arab Emirates (X units) were the main suppliers of agricultural appliance imports to Spain, with a combined 65% share of total imports. Saudi Arabia, China, Germany, Italy, Greece, the United States and Portugal lagged somewhat behind, together accounting for a further 28%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Saudi Arabia (with a CAGR of +28.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest agricultural appliance suppliers to Spain were Israel ($X), France ($X) and Germany ($X), together comprising 66% of total imports. China, the United States, Italy, the United Arab Emirates, Saudi Arabia, Greece and Portugal lagged somewhat behind, together comprising a further 24%.

Among the main suppliers, Saudi Arabia, with a CAGR of +34.0%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average agricultural appliance import price amounted to $X per unit, increasing by 13% against the previous year. In general, the import price posted prominent growth. The most prominent rate of growth was recorded in 2013 when the average import price increased by 73%. Over the period under review, average import prices reached the maximum in 2021 and is likely to see steady growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per unit), while the price for Saudi Arabia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+18.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform