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Report World - Tractors - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Nov 1, 2024

World - Tractors - Market Analysis, Forecast, Size, Trends and Insights

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Global Tractor Market 2024

Tractor Market Size

The global tractor market declined modestly to $X in 2022, leveling off at the previous year. Overall, the total consumption indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +12.1% against 2020 indices. Global consumption peaked at $X in 2021, and then declined modestly in the following year.

Tractor Production

In value terms, tractor production shrank to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.7% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 with an increase of 22%. As a result, production reached the peak level of $X. From 2019 to 2022, global production growth remained at a lower figure.

Tractor Exports

Exports

Global tractor exports dropped modestly to X units in 2022, declining by -4.4% against the previous year's figure. In general, total exports indicated tangible growth from 2012 to 2022: its volume increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +35.2% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 41% against the previous year. As a result, the exports attained the peak of X units, and then declined modestly in the following year.

In value terms, tractor exports amounted to $X in 2022. The total export value increased at an average annual rate of +1.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 37%. The global exports peaked in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

China (X units), Japan (X units), India (X units), Belgium (X units), the United States (X units), the UK (X units), the Netherlands (X units), France (X units), Germany (X units), Italy (X units), South Korea (X units) and Thailand (X units) represented roughly 75% of total exports in 2022. Mexico (X units) held a relatively small share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Thailand (with a CAGR of +24.4%), while the other global leaders experienced more modest paces of growth.

In value terms, the United States ($X), Germany ($X) and Mexico ($X) appeared to be the countries with the highest levels of exports in 2022, together comprising 35% of global exports. France, the Netherlands, Japan, China, Italy, the UK, India, Belgium, South Korea and Thailand lagged somewhat behind, together accounting for a further 42%.

Among the main exporting countries, South Korea, with a CAGR of +8.7%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average tractor export price amounted to $X per unit, rising by 5.1% against the previous year. Overall, the export price, however, showed a mild contraction. The pace of growth appeared the most rapid in 2015 when the average export price increased by 6.1% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Mexico ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+9.7%), while the other global leaders experienced more modest paces of growth.

Tractor Imports

Imports

In 2022, supplies from abroad of tractors increased by 0.9% to X units, rising for the second consecutive year after two years of decline. Over the period under review, total imports indicated a noticeable expansion from 2012 to 2022: its volume increased at an average annual rate of +4.1% 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 +45.2% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 44% against the previous year. Global imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, tractor imports shrank slightly to $X in 2022. The total import value increased at an average annual rate of +2.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when imports increased by 41% against the previous year. As a result, imports attained the peak of $X, leveling off in the following year.

Imports by Country

In 2022, the United States (X units), distantly followed by Belgium (X units), Russia (X units) and France (X units) represented the major importers of tractors, together committing 38% of total imports. Canada (X units), Poland (X units), Spain (X units), Italy (X units), Ukraine (X units), the UK (X units), Bangladesh (X units), Germany (X units) and Ireland (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Belgium (with a CAGR of +22.5%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($X) constitutes the largest market for imported tractors worldwide, comprising 26% of global imports. The second position in the ranking was held by France ($X), with a 7.4% share of global imports. It was followed by Canada, with a 6.7% share.

From 2012 to 2022, the average annual growth rate of value in the United States totaled +6.2%. The remaining importing countries recorded the following average annual rates of imports growth: France (+2.0% per year) and Canada (-0.9% per year).

Import Prices by Country

In 2022, the average tractor import price amounted to $X per unit, remaining relatively unchanged against the previous year. In general, the import price saw a slight contraction. The pace of growth was the most pronounced in 2017 when the average import price increased by 7.6% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+5.7%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

The countries with the highest volumes of in 2021 were China, the United States and India, with a combined 37% share of global consumption.
China constituted the country with the largest volume of tractor production, accounting for 18% of total volume. Moreover, tractor production in China exceeded the figures recorded by the second-largest producer, the United States, twofold. India ranked third in terms of total production with a 7.4% share.
In value terms, the largest tractor supplying countries worldwide were Germany, Mexico and the Netherlands, with a combined 40% share of global exports. The United States, France, Belgium, Italy, Japan, the UK, Poland, South Korea, India and Thailand lagged somewhat behind, together comprising a further 37%.
In value terms, the United States constitutes the largest market for imported tractors worldwide, comprising 22% of global imports. The second position in the ranking was occupied by France, with a 6.8% share of global imports. It was followed by Canada, with a 6.1% share.
The average tractor export price stood at $22,357 per unit in 2021, remaining stable against the previous year.
The average tractor import price stood at $26,638 per unit in 2021, waning by -4.2% against the previous year.

This report provides an in-depth analysis of the global tractor market. 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 28301000 - Pedestrian-controlled tractors
  • Prodcom 28302100 - New agricultural and forestry tractors, wheeled, of an engine power . .37 kW
  • Prodcom 28302200 - New agricultural and forestry tractors, wheeled, of an engine power > .37 kW but . .59 kW (excluding pedestrian-controlled tractors)
  • Prodcom 28302330 - New agricultural and forestry tractors, wheeled, of an engine power > .59 kW but . .75 kW (excluding pedestrian-controlled tractors)
  • Prodcom 28302350 - New agricultural and forestry tractors, wheeled, of an engine power > .75 kW but . .90 kW (excluding pedestrian-controlled tractors)
  • Prodcom 28302370 - New agricultural and forestry tractors, wheeled, of an engine power > .90 kW (excluding pedestrian-controlled tractors)
  • Prodcom 28302390 - New tractors excluding agricultural/forestry tractors, wheeled, p edestrian-controlled tractors - road tractors for semi-trailers, t rack-laying tractors -tractors used on railway platforms
  • Prodcom 28925000 - (Crawler tractors) Track-laying tractors
  • Prodcom 29104300 - Road tractors for semi-trailers

Country coverage:

Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:

+ the largest producing countries

Data coverage:

  • Global market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Global production, split by region and country
  • Global trade (exports and imports)
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Company coverage:

Caterpillar (CAT), Mahindra & Mahindra, John Deere, Massey Ferguson, Case IH, Sonalika International, Escorts Group, Kubota, Fendt, Deutz Fahr, Claas, JCB, Blackstone, Cummins, Crossley, GM Engines, Paxman, Petter, International Harvester, Detroit Diesel, AGCO, Massey Ferguson, McConnell Tractors, New Holland, Phillips, Phoenix, Azer Tractor, Claeys, Agrale, CBT, FengShou, Foton Lovol, Fujian Tractor

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:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. 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. 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. 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. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. CONSUMPTION BY COUNTRY
    3. MARKET FORECAST TO 2030

  4. 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. 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. 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. 7. GLOBAL PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
    2. PRODUCTION BY COUNTRY

  8. 8. GLOBAL IMPORTS

    The Largest Importers on The Market and How They Succeed

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. GLOBAL EXPORTS

    The Largest Exporters on The Market and How They Succeed

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. 11. COUNTRY PROFILES

    The Largest Markets And Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
    • United States
    • China
    • Japan
    • Germany
    • United Kingdom
    • France
    • Brazil
    • Italy
    • Russian Federation
    • India
    • Canada
    • Australia
    • Republic of Korea
    • Spain
    • Mexico
    • Indonesia
    • Netherlands
    • Turkey
    • Saudi Arabia
    • Switzerland
    • Sweden
    • Nigeria
    • Poland
    • Belgium
    • Argentina
    • Norway
    • Austria
    • Thailand
    • United Arab Emirates
    • Colombia
    • Denmark
    • South Africa
    • Malaysia
    • Israel
    • Singapore
    • Egypt
    • Philippines
    • Finland
    • Chile
    • Ireland
    • Pakistan
    • Greece
    • Portugal
    • Kazakhstan
    • Algeria
    • Czech Republic
    • Qatar
    • Peru
    • Romania
    • Vietnam

  12. 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, By Country, 2018–2023
    5. Production, In Physical Terms, By Country, 2012–2023
    6. Imports, In Physical Terms, By Country, 2012–2023
    7. Imports, In Value Terms, By Country, 2012–2023
    8. Import Prices, By Country Of Destination, 2012–2023
    9. Exports, In Physical Terms, By Country, 2012–2023
    10. Exports, In Value Terms, By Country, 2012–2023
    11. Export Prices, By Country Of Origin, 2012–2023

  13. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Consumption, By Country, 2023
    4. Market Volume Forecast to 2030
    5. Market Value Forecast to 2030
    6. Products: Market Size And Growth, By Type
    7. Products: Average Per Capita Consumption, By Type
    8. Products: Exports And Growth, By Type
    9. Products: Export Prices And Growth, By Type
    10. Production Volume And Growth
    11. Exports And Growth
    12. Export Prices And Growth
    13. Market Size And Growth
    14. Per Capita Consumption
    15. Imports And Growth
    16. Import Prices
    17. Production, In Physical Terms, 2012–2023
    18. Production, In Value Terms, 2012–2023
    19. Production, By Country, 2023
    20. Production, In Physical Terms, By Country, 2012–2023
    21. Imports, In Physical Terms, 2012–2023
    22. Imports, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, By Country, 2023
    24. Imports, In Physical Terms, By Country, 2012–2023
    25. Imports, In Value Terms, By Country, 2012–2023
    26. Import Prices, By Country, 2012–2023
    27. Exports, In Physical Terms, 2012–2023
    28. Exports, In Value Terms, 2012–2023
    29. Exports, In Physical Terms, By Country, 2023
    30. Exports, In Physical Terms, By Country, 2012–2023
    31. Exports, In Value Terms, By Country, 2012–2023
    32. Export Prices, 2012–2023

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