Report Update Nov 1, 2024

Sri Lanka - Ploughs for Agricultural Purposes - Market Analysis, Forecast, Size, Trends and Insights

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Sri Lanka: Plough Market 2024

Plough Market Size in Sri Lanka

The Sri Lankan plough market shrank notably to $X in 2022, declining by -49.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption recorded a deep contraction. Plough consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Plough Exports

Exports from Sri Lanka

Plough exports from Sri Lanka was estimated at X units in 2022, stabilizing at the year before. Overall, exports saw a deep downturn. The most prominent rate of growth was recorded in 2013 when exports increased by 6,650%. Over the period under review, the exports attained the peak figure at X units in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, plough exports expanded slightly to $X in 2022. In general, exports saw a perceptible contraction. The most prominent rate of growth was recorded in 2013 when exports increased by 12,853% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Japan (X units) was the main destination for plough exports from Sri Lanka, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Japan stood at -27.0%.

In value terms, Japan ($X) also remains the key foreign market for ploughs for agricultural purposes exports from Sri Lanka.

From 2012 to 2022, the average annual rate of growth in terms of value to Japan amounted to +14.4%.

Export Prices by Country

The average plough export price stood at $X per unit in 2022, growing by 13% against the previous year. Over the period under review, export price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of +8.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plough export price increased by +46.1% against 2019 indices. The most prominent rate of growth was recorded in 2013 when the average export price increased by 92%. Over the period under review, the average export prices reached the maximum in 2022 and is likely to see steady growth in years to come.

As there is only one major export destination, the average price level is determined by prices for Japan.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to +39.1% per year.

Plough Imports

Imports into Sri Lanka

In 2022, approx. X units of ploughs for agricultural purposes were imported into Sri Lanka; with a decrease of -54.5% against the previous year's figure. In general, imports showed a abrupt slump. The pace of growth was the most pronounced in 2021 with an increase of 156%. Imports peaked at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, plough imports dropped significantly to $X in 2022. Overall, imports continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2018 when imports increased by 135% against the previous year. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Pakistan (X units) constituted the largest plough supplier to Sri Lanka, with a 69% share of total imports. Moreover, plough imports from Pakistan exceeded the figures recorded by the second-largest supplier, India (X units), threefold. The third position in this ranking was held by China (X units), with a 2.8% share.

From 2012 to 2022, the average annual growth rate of volume from Pakistan totaled +23.2%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-10.7% per year) and China (-5.4% per year).

In value terms, Pakistan ($X) constituted the largest supplier of ploughs for agricultural purposes to Sri Lanka, comprising 69% of total imports. The second position in the ranking was taken by India ($X), with a 24% share of total imports. It was followed by China, with a 2.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Pakistan totaled +23.4%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-10.6% per year) and China (-5.4% per year).

Import Prices by Country

In 2022, the average plough import price amounted to $X per unit, growing by 14% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 31% against the previous year. As a result, import price reached the peak level of $X per unit; afterwards, it flattened through to 2022.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Vietnam ($X per unit) and India ($X per unit), while the price for China ($X per unit) and Pakistan ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+0.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for ploughs for agricultural purposes in the world?

Nigeria constituted the country with the largest volume of plough consumption, accounting for 35% of total volume. Moreover, plough consumption in Nigeria exceeded the figures recorded by the second-largest consumer, the United States, sixfold. Norway ranked third in terms of total consumption with a 5% share.

What are the largest producers of ploughs for agricultural purposes in the world?

The countries with the highest volumes of plough production in 2021 were France, Norway and Germany, together accounting for 39% of global production. These countries were followed by China, Turkey, the United States, South Africa, the Czech Republic, Italy, Brazil, Thailand and Zimbabwe, which together accounted for a further 50%.

What are the leading suppliers of ploughs for agricultural purposes to Sri Lanka?

In value terms, India, Pakistan and China appeared to be the largest plough suppliers to Sri Lanka, with a combined 97% share of total imports.

What are the leading importers of ploughs for agricultural purposes from Sri Lanka?

In value terms, Japan remains the key foreign market for plough exports from Sri Lanka.

What is the average export price for ploughs for agricultural purposes in Sri Lanka?

The average plough export price stood at $1,145 per unit in 2021, surging by 12% against the previous year.

What is the average import price for ploughs for agricultural purposes in Sri Lanka?

The average plough import price stood at $1,389 per unit in 2021, declining by -18.4% against the previous year.

This report provides an in-depth analysis of the plough market in Sri Lanka. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 28303130 -
Prodcom 28303150 -

Country coverage:

Sri Lanka

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Sri Lanka
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023