Pedestrian-Controlled Tractor Market

The article discusses the current state and future outlook of the global market for pedestrian-controlled tractors. It highlights key trends such as the expected growth in market volume and value over the next eight years, as well as fluctuations in consumption, production, imports, and exports. Countries such as China, the United States, and India are identified as major players in both consumption and production, with Romania showing significant growth in imports. The article also examines average prices and growth rates in various aspects of the market.

Market Forecast

Driven by increasing demand for pedestrian-controlled tractors worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +2.2% for the period from 2022 to 2030, which is projected to bring the market volume to 3.5M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.5% for the period from 2022 to 2030, which is projected to bring the market value to $20.6B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Pedestrian-Controlled Tractors

In 2022, the amount of pedestrian-controlled tractors consumed worldwide rose modestly to 2.9M units, growing by 4.7% against the year before. In general, the total consumption indicated pronounced growth from 2012 to 2022: its volume increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -5.2% against 2020 indices. As a result, consumption reached the peak volume of 3.1M units. From 2021 to 2022, the growth of the global consumption remained at a lower figure.

The global pedestrian-controlled tractor market value expanded modestly to $14.5B in 2022, with an increase of 2% 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, the total consumption indicated moderate growth from 2012 to 2022: its value 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, consumption decreased by -11.4% against 2020 indices. As a result, consumption reached the peak level of $16.3B. From 2021 to 2022, the growth of the global market failed to regain momentum.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (499K units), the United States (259K units) and India (199K units), with a combined 33% share of global consumption. Pakistan, Japan, Nigeria, Russia, Brazil, Indonesia, Romania, Turkey, the UK and the Netherlands lagged somewhat behind, together comprising a further 34%.

From 2012 to 2022, the biggest increases were recorded for Romania (with a CAGR of +22.2%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($3.8B), China ($2B) and India ($1.3B) appeared to be the countries with the highest levels of market value in 2022, together accounting for 50% of the global market. Pakistan, Nigeria, Brazil, Russia, the Netherlands, Romania, Indonesia, Turkey, Japan and the UK lagged somewhat behind, together accounting for a further 28%.

Romania, with a CAGR of +19.5%, saw the highest growth rate of market size among the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of pedestrian-controlled tractor per capita consumption in 2022 were Romania (4.6 units per 1000 persons), the Netherlands (3.5 units per 1000 persons) and Japan (1.1 units per 1000 persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by Romania (with a CAGR of +22.9%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Pedestrian-Controlled Tractors

In 2022, the amount of pedestrian-controlled tractors produced worldwide amounted to 2.8M units, therefore, remained relatively stable against the previous year's figure. Over the period under review, the total production indicated a tangible expansion from 2012 to 2022: its volume increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -8.4% against 2020 indices. The most prominent rate of growth was recorded in 2020 when the production volume increased by 27% against the previous year. As a result, production attained the peak volume of 3.1M units. From 2021 to 2022, global production growth remained at a lower figure.

In value terms, pedestrian-controlled tractor production reached $14.4B in 2022 estimated in export price. Overall, the total production indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -14.1% against 2020 indices. The growth pace was the most rapid in 2020 when the production volume increased by 39% against the previous year. As a result, production reached the peak level of $16.8B. From 2021 to 2022, global production growth remained at a somewhat lower figure.

Production By Country

China (575K units) remains the largest pedestrian-controlled tractor producing country worldwide, comprising approx. 20% of total volume. Moreover, pedestrian-controlled tractor production in China exceeded the figures recorded by the second-largest producer, the United States (253K units), twofold. The third position in this ranking was taken by India (199K units), with a 7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China stood at +5.1%. In the other countries, the average annual rates were as follows: the United States (+6.0% per year) and India (+3.4% per year).

Imports

World Imports of Pedestrian-Controlled Tractors

Global pedestrian-controlled tractor imports skyrocketed to 319K units in 2022, increasing by 87% against 2021 figures. In general, imports continue to indicate resilient growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, pedestrian-controlled tractor imports expanded significantly to $400M in 2022. Overall, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of 23% against the previous year. As a result, imports attained the peak of $448M. From 2016 to 2022, the growth of global imports failed to regain momentum.

Imports By Country

Romania was the largest importer of pedestrian-controlled tractors in the world, with the volume of imports accounting for 91K units, which was near 28% of total imports in 2022. It was distantly followed by the Netherlands (33K units), Bangladesh (27K units) and Cambodia (20K units), together committing a 25% share of total imports. The following importers - Nigeria (9.7K units), Thailand (9.3K units), Denmark (9K units), Spain (8.4K units), the United States (6.9K units), Ukraine (6.8K units), Canada (6.4K units), Lao People's Democratic Republic (5.2K units) and Belgium (4.9K units) - together made up 21% of total imports.

Romania was also the fastest-growing in terms of the pedestrian-controlled tractors imports, with a CAGR of +74.9% from 2012 to 2022. At the same time, Thailand (+56.3%), Lao People's Democratic Republic (+36.3%), Spain (+30.8%), the Netherlands (+29.2%), the United States (+23.9%), Denmark (+23.4%), Nigeria (+22.2%), Canada (+17.1%), Bangladesh (+14.0%) and Belgium (+6.7%) displayed positive paces of growth. By contrast, Cambodia (-5.4%) and Ukraine (-13.4%) illustrated a downward trend over the same period. Romania (+28 p.p.), the Netherlands (+8.5 p.p.), Bangladesh (+3.5 p.p.), Thailand (+2.8 p.p.), Spain (+2.2 p.p.), Nigeria (+2.2 p.p.), Denmark (+2.1 p.p.) and the United States (+1.6 p.p.) significantly strengthened its position in terms of the global imports, while Cambodia and Ukraine saw its share reduced by -17.1% and -17.3% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest pedestrian-controlled tractor importing markets worldwide were Bangladesh ($41M), Romania ($29M) and Nigeria ($26M), together accounting for 24% of global imports.

Among the main importing countries, Nigeria, with a CAGR of +43.5%, 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

The average pedestrian-controlled tractor import price stood at $1,255 per unit in 2022, declining by -40.2% against the previous year. In general, the import price continues to indicate a deep downturn. The growth pace was the most rapid in 2014 an increase of 34% against the previous year. Global import price peaked at $3,204 per unit in 2015; however, from 2016 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 Canada ($3,325 per unit), while Thailand ($29 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+17.4%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Pedestrian-Controlled Tractors

In 2022, global pedestrian-controlled tractor exports was estimated at 221K units, growing by 12% against the previous year's figure. Overall, exports saw resilient growth. The pace of growth was the most pronounced in 2020 when exports increased by 59% against the previous year. The global exports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, pedestrian-controlled tractor exports surged to $291M in 2022. In general, exports continue to indicate mild growth. The pace of growth appeared the most rapid in 2017 with an increase of 40%. Over the period under review, the global exports reached the maximum at $335M in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports By Country

China (75K units) and Thailand (60K units) represented the main exporters of pedestrian-controlled tractors in 2022, finishing at near 34% and 27% of total exports, respectively. France (18K units) held an 8.2% share (based on physical terms) of total exports, which put it in second place, followed by Italy (7.5%) and Denmark (5.8%). Romania (3.6K 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 main exporting countries, was attained by Romania (with a CAGR of +84.3%), while the other global leaders experienced more modest paces of growth.

In value terms, the largest pedestrian-controlled tractor supplying countries worldwide were China ($68M), Thailand ($45M) and Italy ($28M), with a combined 48% share of global exports. France, Denmark and Romania lagged somewhat behind, together accounting for a further 8.6%.

Among the main exporting countries, Romania, with a CAGR of +47.8%, saw the highest rates of growth with regard to 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

The average pedestrian-controlled tractor export price stood at $1,316 per unit in 2022, with an increase of 2.8% against the previous year. In general, the export price, however, showed a abrupt downturn. The pace of growth appeared the most rapid in 2018 an increase of 20% against the previous year. Over the period under review, the average export prices reached the peak figure at $5,498 per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

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 Italy ($1,672 per unit), while Romania ($398 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (-6.5%), while the other global leaders experienced a decline in the export price figures.

Source: IndexBox Market Intelligence Platform