World - Ploughs For Agricultural Purposes - Market Analysis, Forecast, Size, Trends and Insights
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The article provides a comprehensive analysis of the global plough market, projecting an upward consumption trend with anticipated CAGR of +3.8% in volume and +5.7% in value from 2022 to 2030. The market saw a decline in 2022 after two years of growth, reaching 527K units in consumption. The top consuming countries were the Netherlands, China, and the United States. Production levels remained relatively flat, with China, the Netherlands, and France as the leading producers in 2022. Imports and exports also fluctuated, with a noticeable decline in imports in 2022, while exports saw an increase for the second year in a row. China, France, and Turkey were the largest exporters in 2022, with Germany, France, and Norway leading in terms of export value.
Market Forecast
Driven by rising demand for plough worldwide, the market is expected to start an upward consumption trend over the next eight-year period. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +3.8% for the period from 2022 to 2030, which is projected to bring the market volume to 709K units by the end of 2030.
In value terms, the market is forecast to increase with an anticipated CAGR of +5.7% for the period from 2022 to 2030, which is projected to bring the market value to $1B (in nominal prices) by the end of 2030.
Consumption
World Consumption of Ploughs For Agricultural Purposes
In 2022, consumption of ploughs for agricultural purposes decreased by -25.5% to 527K units for the first time since 2019, thus ending a two-year rising trend. Overall, consumption continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak volume of 708K units, and then fell notably in the following year.
The global plough market revenue shrank to $652M in 2022, waning by -13.5% 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). The market value increased at an average annual rate of +1.2% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth was the most pronounced in 2021 when the market value increased by 8.9% against the previous year. As a result, consumption reached the peak level of $754M, and then contracted in the following year.
Consumption By Country
The countries with the highest volumes of consumption in 2022 were the Netherlands (63K units), China (37K units) and the United States (31K units), together accounting for 25% of global consumption. Hungary, France, Russia, Norway, Nigeria, Germany, Thailand, Zambia, Italy and Canada lagged somewhat behind, together accounting for a further 32%.
From 2012 to 2022, the biggest increases were recorded for Nigeria (with a CAGR of +18.6%), while consumption for the other global leaders experienced more modest paces of growth.
In value terms, the United States ($109M) led the market, alone. The second position in the ranking was taken by the Netherlands ($52M). It was followed by France.
In the United States, the plough market increased at an average annual rate of +15.9% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of market growth: the Netherlands (-1.7% per year) and France (+4.3% per year).
The countries with the highest levels of plough per capita consumption in 2022 were the Netherlands (3,583 units per million persons), Norway (3,520 units per million persons) and Hungary (2,961 units per million persons).
From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Canada (with a CAGR of +17.4%), while consumption for the other global leaders experienced more modest paces of growth.
Production
World Production of Ploughs For Agricultural Purposes
In 2022, approx. 612K units of ploughs for agricultural purposes were produced worldwide; leveling off at the year before. Overall, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the production volume increased by 1.8%. Over the period under review, global production hit record highs in 2022 and is likely to see steady growth in the near future.
In value terms, plough production stood at $720M in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 5.3% against the previous year. Global production peaked at $728M in 2020; however, from 2021 to 2022, production remained at a lower figure.
Production By Country
The countries with the highest volumes of production in 2022 were China (142K units), the Netherlands (73K units) and France (53K units), together comprising 44% of global production. Norway, Germany, Hungary, Turkey, the United States, Italy, Thailand, the Czech Republic, India and Brazil lagged somewhat behind, together comprising a further 43%.
From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +1.6%), while production for the other global leaders experienced more modest paces of growth.
Imports
World Imports of Ploughs For Agricultural Purposes
In 2022, after two years of growth, there was significant decline in overseas purchases of ploughs for agricultural purposes, when their volume decreased by -29.5% to 358K units. In general, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 53%. As a result, imports attained the peak of 507K units, and then fell sharply in the following year.
In value terms, plough imports shrank to $468M in 2022. Overall, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 34% against the previous year. As a result, imports reached the peak of $517M, and then declined in the following year.
Imports By Country
The countries with the highest levels of plough imports in 2022 were Russia (24K units), Nigeria (18K units), Poland (17K units), Romania (14K units), Canada (13K units), Denmark (13K units), the United States (12K units), Zambia (12K units), France (11K units), Bulgaria (10K units), Germany (10K units) and the Netherlands (9.9K units), together reaching 46% of total import. The UK (8.6K units) took a minor share of total imports.
From 2012 to 2022, the biggest increases were recorded for Nigeria (with a CAGR of +18.5%), while purchases for the other global leaders experienced more modest paces of growth.
In value terms, Russia ($34M), Poland ($28M) and Denmark ($26M) were the countries with the highest levels of imports in 2022, with a combined 19% share of global imports.
In terms of the main importing countries, Denmark, with a CAGR of +13.2%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.
Import Prices By Country
In 2022, the average plough import price amounted to $1,309 per unit, surging by 28% against the previous year. Overall, the import price showed a relatively flat trend pattern. Global import price peaked at $1,337 per unit in 2013; afterwards, it flattened through to 2022.
There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was France ($2,367 per unit), while Nigeria ($353 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+6.8%), while the other global leaders experienced more modest paces of growth.
Exports
World Exports of Ploughs For Agricultural Purposes
In 2022, overseas shipments of ploughs for agricultural purposes increased by 9.5% to 442K units, rising for the second year in a row after three years of decline. The total export volume increased at an average annual rate of +1.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 28%. The global exports peaked in 2022 and are likely to see steady growth in years to come.
In value terms, plough exports rose modestly to $507M in 2022. Overall, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 33% against the previous year. Over the period under review, the global exports attained the peak figure at $562M in 2013; however, from 2014 to 2022, the exports remained at a lower figure.
Exports By Country
In 2022, China (105K units), distantly followed by France (40K units), Turkey (34K units), Germany (33K units), Norway (30K units), the Netherlands (20K units) and the Czech Republic (20K units) represented the largest exporters of ploughs for agricultural purposes, together achieving 64% of total exports. Hungary (15K units), India (14K units), Italy (13K units), Poland (12K units), Denmark (10K units) and Sweden (8.9K units) followed a long way behind the leaders.
From 2012 to 2022, average annual rates of growth with regard to plough exports from China stood at +12.6%. At the same time, the Netherlands (+30.9%), Denmark (+22.4%), the Czech Republic (+13.5%), India (+11.4%), Turkey (+4.9%), Italy (+4.8%) and Poland (+1.5%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing exporter exported in the world, with a CAGR of +30.9% from 2012-2022. Germany experienced a relatively flat trend pattern. By contrast, France (-1.4%), Hungary (-2.1%), Norway (-3.0%) and Sweden (-5.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China, the Netherlands, the Czech Republic, Turkey, India and Denmark increased by +16, +4.2, +3.1, +2.4, +2 and +2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, the largest plough supplying countries worldwide were Germany ($83M), France ($64M) and Norway ($60M), with a combined 41% share of global exports. The Czech Republic, India, China, Turkey, Hungary, Denmark, Italy, Sweden, the Netherlands and Poland lagged somewhat behind, together comprising a further 37%.
The Netherlands, with a CAGR of +27.2%, saw the highest growth rate of the value of exports, among the main exporting countries 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 plough export price amounted to $1,147 per unit, with a decrease of -7% against the previous year. Overall, the export price showed a mild decline. The pace of growth appeared the most rapid in 2017 an increase of 7.4%. Over the period under review, the average export prices reached the maximum at $1,367 per unit in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Germany ($2,523 per unit), while China ($204 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Denmark (+3.3%), while the other global leaders experienced more modest paces of growth.
This report provides an in-depth analysis of the global plough 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 28303130 -
- Prodcom 28303150 -
Country coverage:
Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:
- USA
- 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
+ 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
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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. GLOBAL IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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. 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
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
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