Turkey: Tractor Market 2024

Tractor Market Size in Turkey

The Turkish tractor market dropped to $X in 2022, waning by -3.5% against the previous year. The market value increased at an average annual rate of +2.0% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Tractor consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Tractor Production in Turkey

In value terms, tractor production dropped to $X in 2022 estimated in export price. In general, production continues to indicate a noticeable increase. The pace of growth was the most pronounced in 2018 with an increase of 63%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Tractor Exports

Exports from Turkey

In 2022, approx. X units of tractors were exported from Turkey; picking up by 2.8% on the previous year's figure. Over the period under review, exports saw a strong increase. The growth pace was the most rapid in 2018 when exports increased by 50% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

In value terms, tractor exports dropped to $X in 2022. In general, exports posted buoyant growth. The growth pace was the most rapid in 2018 when exports increased by 76% against the previous year. The exports peaked at $X in 2021, and then dropped in the following year.

Exports by Country

The United States (X units), Italy (X units) and Germany (X units) were the main destinations of tractor exports from Turkey, with a combined 22% share of total exports. Poland, Sudan, Spain, France, South Africa, Ukraine, Portugal, Australia, Serbia and Iraq lagged somewhat behind, together comprising a further 16%.

From 2012 to 2022, the biggest increases were recorded for Ukraine (with a CAGR of +77.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Italy ($X) and Germany ($X) appeared to be the largest markets for tractor exported from Turkey worldwide, together accounting for 23% of total exports. These countries were followed by Poland, Spain, France, Portugal, Australia, Serbia, Sudan, South Africa, Iraq and Ukraine, which together accounted for a further 17%.

Ukraine, with a CAGR of +59.8%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average tractor export price stood at $X per unit in 2022, shrinking by -11.8% against the previous year. Overall, export price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of +4.4% 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 +10.0% against 2020 indices. The pace of growth was the most pronounced in 2016 an increase of 38%. The export price peaked at $X per unit in 2021, and then contracted in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to Sudan ($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 Spain (+14.1%), while the prices for the other major destinations experienced more modest paces of growth.

Tractor Imports

Imports into Turkey

In 2022, purchases abroad of tractors increased by 8.4% to X units, rising for the third consecutive year after four years of decline. Overall, imports enjoyed a modest expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 71% against the previous year. Over the period under review, imports reached the peak figure at X units in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, tractor imports shrank to $X in 2022. In general, imports continue to indicate a slight expansion. The growth pace was the most rapid in 2020 when imports increased by 184%. Imports peaked at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

India (X units), China (X units) and France (X units) were the main suppliers of tractor imports to Turkey, with a combined 29% share of total imports. Italy, Japan, the Netherlands, Poland, Germany, the United States and South Korea lagged somewhat behind, together comprising a further 17%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +42.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest tractor suppliers to Turkey were France ($X), the Netherlands ($X) and Italy ($X), together comprising 28% of total imports. Germany, Poland, India, Japan, China, the United States and South Korea lagged somewhat behind, together accounting for a further 13%.

Poland, with a CAGR of +40.5%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average tractor import price amounted to $X per unit, falling by -20.7% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average import price increased by 87% against the previous year. The import price peaked at $X per unit in 2021, and then contracted remarkably in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+2.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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